THE TRUTH ABOUT "FREE" TERMINALS
Spoiler alert! It's NOT free...
Time and time again we hear from countless Merchants and Business Owners, "Well, my current processing company gave me this machine for free.", or "My sales rep told me this machine is the latest and greatest and it's no charge.". While a free machine sure sounds like a great deal, after looking closely at the Business Owner's statements or contracts we learn something entirely different. Whenever you hear anyone say "You are getting a free machine", ask them to see the fine print. The henious truth is that most processing companies sell you on the idea of a free machine to get you to sign up, but you may end up paying 3 - 4 times over the cost of the machine in hidden fees!
Look out for charges labeled "Equipment Replacement Fee" or "Equipment Placement Fee". These are commonly used terms but there are countless devious ways the true cost is hidden. Another common method is by simply adding surcharges or raising your rates. Take a look at some of the fine print in these examples below.
Ended up paying over $3,000 for their free machine.
Ended up paying over $1,100 for their no cost machine.
These are just two recent examples. The example to the left, the Business Owner was told their credit card machine was free but was paying a monthly fee of $8.95 for over 5 years! While also paying higher rates than originally offered. They ended up paying over $3,000 for their free machine! The example to the right also had a similar situation, they ended up paying $1,100 for their no cost machine. And even after paying so much for the machines, these companies still tried to use these contracts to come back and collect payment years later. (That's why we have these screenshots.) We detest seeing honest, hard-working Business Owners go through these situations.
At AGMS we stand by our words and commit to providing better service, better rates, and long lasting relationships with our business owners. If you have been told you got or will get a free machine get in touch with us ASAP! Our analysis team will review their proposal or your statement and tell you the truth between the numbers.
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