Before Merchant Rates, Negotiate Definitions First
As a consumer it is better not to get trapped in a long-term contracts and cancellation penalties. A sales rep may tell you they don't have an "early termination fee" and may be technically right because the company they work for has changed the definition and called it a "de-conversion fee". The contract states that price changes can be made with 30 days prior written notice, yet if you terminate the agreement within the first 3 years following the date of your execution of the agreement, "you agree to pay de-conversion fees of an amount equal to" the transaction fees incurred by you during the calendar month … more