do NOT use Newtek as your Merchant provider

[soonermajic]

We sold a carwash 5 mos ago. wife was not checking our statements. I got a hardcopy of bills & looked through em. Seems as though Newtek has charged us $53.55 for the past 5 mos that we have NOT even owned the old carwash. Also, charging us $19 because they said we were no longer in compliance!! WTF?!!! Not in compliance on a business we DON"T EVEN OWN?!!
Also, their fees are about 15%

do NOT use NEWTEK!

 

[MEP001]

Did you cancel the service when you sold the wash?

 

[soonermajic]

I don't remember that I did. Maybe that is why they charge $55 monthly...? Would think the stoppage in service would do it automatically? Also, we never received notice, unlike what they said, about our being non-compliant. Even looked in Spam for the messages...

 

[chaz]

I’d think closing the business account would also stop the charges

 

[MEP001]

I don't remember that I did. Maybe that is why they charge $55 monthly...? Would think the stoppage in service would do it automatically? Also, we never received notice, unlike what they said, about our being non-compliant. Even looked in Spam for the messages...

What do you mean, "stoppage of service?" Because you are no longer running card sales through the account? You have to cancel/close the account.

 

[Overachiever]

When I cancelled my account there I called and let them know... But yeah, I agree don't use them unless you absolutely have to (like you have the old dialup american paystation). They are expensive.