If you are in the market for a credit card processing company, I would strongly suggest that you avoid Innovative Merchants.
My experience with them was far from satisfactory. The online business which I started never took off, so I never had any charges processed through Innovative Merchants. I was being charged a monthly fee, plus in December, an additional $75 was assessed as an annual maintenance fee. One wonders what they were maintaining considering that no credit card charges were being processed by them.
At that time, I notified them that I was closing my account. At no point did anyone tell me that I would be charged $295 for closing the account. In early January I noticed a charge from them for $295 directly deducted from my checking account. When I phoned the customer service department, I was told that it was a closing fee and that it had been stated in the application which I had submitted one year ago.
The two customer service people I spoke with were very rude and told me I had no recourse for reversing the charge. Again, it makes you wonder what they could possibly have done to warrant a charge of $295.
I then submitted a complaint through the Better Business Bureau, which achieved nothing.
I can only warn other people who may be considering dealing with this company to think twice about it as it is not a reputable company.