ComplaintsforFinical

• Initial Complaint

  09/18/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  As a small business owner, *** spent time here arguing this issue to make one thing warn to others: some credit card processors claim to be zero-charges but once you join, youre like a lamb to the *********. Your account can be plundered at will, with various excuses for charges. Theres no way to appeal. My MID: ************, and shortly after joining this company, my fees gradually increased. There were monthly terminal rental fees, monthly bank fees, and compliance annual fees. I diligently completed each compliance task, and every three months, I underwent a security scan conducted by SecureTrust, as specified by Finicalholdings. However, since this summer, when I completed the compliance scan and was approved without any issues, my compliance page briefly changed to congratulations, youre all done for a few seconds then returning to you need to reschedule your scan. Your scan was interrupted and didnt complete. Please schedule a new scan to maintain your compliance. I rescanned it multiple times, always passing and approved, but the page kept showing the same message after congratulations. a few seconds. Frustrated, I called SecureTrust customer service and was told not to worry, its just a system issue, and Im all set. After the June scan, the next scan should have been in September, but in August, I was forcibly charged $29.99 with the reason being scan expired. It became clear to me that the scan, which never updated the page due to technical issues, was a trap, designed to find reasons to charge. I know its time to leave this company. I requested a termination form from customer service, and I almost signed it. However, upon closer inspection, the bottom clause stated that once I sign, I agree to pay a termination fee, which was not part of the initial agreement when I joined. I have no idea what the termination fee amount is, and as soon as I sign, it becomes an unknown amount. I need someone from their side to sincerely address this issue.

  

  Business response

  09/18/2023

  Hi ****,

  Thank you for your message. We completely understand your frustration, however, I have reviewed your agreement and your account so please allow me to shed some light on this. The *** Scan which you are referring to is done by a third party provider "Secure Trust" as you indicated. That is not done by us. The *** Policies are put in place as a protection for merchants to make sure they are staying *** compliant, and in turn a protection for your customers. The *** Compliance questionnaire is required once a year, however, a quick security scan is required quarterly. As long as you pass the quarterly scan and as long as you have completed the annual questionnaire there are no charges applied. However, if you do not complete the questionnaire or fail the scan than a charge of $29.99 is applied until you become compliant. These terms are written into your agreement. Additionally, you were sent *** reminders prior to any fees being applied. If you need additional assistance with *** or would like someone to walk you through the process please contact Secure Trust directly at ************ or *********************************** they're more than happy to help you. We value your business and are sorry about your negative experience with "Secure Trust" but rest assured that this must have been a glitch since they offer this service to thousands of our merchants. 

  Customer response

  09/18/2023

  I am rejecting this response because: They claiming that its all me and third party, unrelated to Finical. Initially, I attempted to engage with a payment processing solution called ****************************, which claimed to have zero fees, then Finical came into the picture. As a result of joining Finical, an entity I had never heard of called SecureTrust appeared, which is now known as Viking Cloud. Furthermore, Finical is now called Finical Holding. Can you please tell me, which party is Finical? Who is Shift? And what about Viking Cloud? Additionally, I have not received information from Finical regarding a cancellation fee for closing the account. My evidence shows that I completed the compliance on time, and I should not be charged $29.99. If I cannot get a refund, please explicitly tell me the amount of my cancellation fee. I do not wish to deal with so many unknown third parties or uncertainties in the future. 

  

  Business response

  01/04/2024

  We did reach out to the merchant and we the closed the account per the merchant's request. Customer had advised us that she would notify BBB that the issue was resolved to her satisfaction, but clearly the customer did not notify ********************. 

• Initial Complaint

  06/20/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I have been scammed by a sales rep from this company. He failed to inform me of the cancellation process. Instead, he told me he would "take care of it". I trusted that he would. I did not see that the numbers had changed on my bank statement but the amounts taken out were similar to what had always been coming out from my original credit card processor. I also was not informed that I had to do anything to get PCI complied. Nor did I receive any type of communication telling me so or how to do that. Beware of this company!!!! I would like a refund of the $1,010.86 that they took from me!!!

  

  Business response

  09/07/2022

  Business Response /* (1000, 13, 2022/07/26) */ Hi ******. I'm sorry that you have had a bad experience but you may be a bet confused about the facts. We have investigated this matter and you processed for 3 months, during those months your processing fees were eliminated with our cash discount program. You then contacted customer service and indicated that you are closing your business and asked how you can close your merchant account. Customer service advised you that a cancellation form with your signature is required to cancel the account, the form was emailed to you but you never returned the cancellation form, therefore your account remained open. You were not charged a cancellation fee, your account was closed by us due to ACH reject. The total fees on your last month of processing were $52, which was rejected, so we can not figure out how you have arrived at over $1000 in fees, perhaps you have it mistaken with another charge. It's always our goal to make every customer happy, unfortunately I haven't found any error on our part to be able to take any action. We wish you all the best and thank you for your business for the few months which you processed with us. Consumer Response /* (3000, 15, 2022/07/27) */ (The consumer indicated he/she DID NOT accept the response from the business.) I am very aware of the facts. I processed with you for almost 3 months, called my rep and let him know that I wanted to cancel as I was going to go back to my original processor. I asked him what I needed to do and he said, "Nothing, I will take care of it." The two interactions I had ever had with him. He signed me up, and told me he would take care of it. I should have known better. But how can a company keep taking money from someone with "no contract" and not processing? It's absurd. And then to not offer some sort of relief from the money they took for no services. Business Response /* (4000, 17, 2022/07/28) */ Hi ******. You do have a contract, i'm not sure why you think you don't have a contract? You signed an agreement, and you did not cancel, you were sent the cancellation form but you never returned it. You also told us you were closing your business. You are now contacting us 19 months after you stopped processing to cancel and you're wondering why you were charged for an open account? Again, we always want our customers to be happy, but your request is unreasonable and ignores the fact that you kept your account open all this time and you were charged each month for the minimum account on file fee, yet you did not call in to cancel until now. Even now you still didn't call to cancel, your account was only closed by risk because your fees rejected. We have a very high rating online because of our dedication to customer satisfaction, however, you are blaming us for you not returning the cancellation form. Again, i'm sorry that you're upset, but you paid for 19 months and only now you're asking us for a refund, this doesn't seem right. Consumer Response /* (4200, 19, 2022/07/31) */ (The consumer indicated he/she DID NOT accept the response from the business.) Again, I stated that YOUR rep told me 19 months ago that he would take care of closing the account which I should not have trusted seeing how he never contacted me again after I signed up. Also, I did call and cancel and sent in the forms that I needed to in order to cancel. My accountant notified me of the charges after he realized my other processor had a different number than the one that was showing up on my statements. But I did cancel last month once the bank figured out what phone number I should call. This has been a nightmare even trying to figure out who was charging me as I thought I had cancelled my account 3 months after it was open. I'm sure that rep doesn't work with you anymore because most credit card reps hop around to different companies. But do not say that I still didn't cancel my account because I can show you emails of my cancellation forms. Unless of course THAT person didn't relay the message as well as the first rep. So is it ridiculous? I don't think so! I have been drug through the ringer on this one. And I will be sure to let everyone know what has happened here. Thanks

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩