Business ProfileforElectronic Merchant Systems

I started an account with EMS in September of 2021. I have used EMS for almost four years. I have processed between a half million and three quarters of a million dollars with them during that time, never having to have been chased or asked for their fees or exchange rates. My account with them has been and remains spotless. I have moved to a different processor. I insured that my account was orderly and prepared to close, with no outstanding fees owed or batches to process before I contacted them. I was informed by a Retention CS Rep that I have to pay a $500 cancellation fee because I can only close my account on a single day that occurs once every two years. This sounds like an astrology cycle rather than a business practice. I have no record of being informed (other than perhaps the ant track writing in the multipage original contract) that if I did not cancel my account on that single day in September of 2023 that I would be trapped for an entire additional two year period. This cancelation policy is arbitrary, unreasonable, and quite frankly, silly. EMS has profited more than their fair share from my account over the last four years. They need to waive this cancelation fee for my account, and, in a perfect world, not hold anyone else to this ridiculous policy either.