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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.

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i am going through the same thing, when i call to close account they told me i will have to pay $540, termination fee, and also have to send my wireless machine back, which i bought it from them for $250 whn i opened the account.. i spoke to someone who also had an account with thm, told me tht even after paying termination fee, he recieved a call from collection office tht he owes $300 for this company for some odd charges...

so pls avoid this comapany even if they offer some kind of free service.. i know i am not paying them anything, they can do whtever they want


I am having the exact same problem. I hope no one ever gets caught by them to begin with. I will be forced to also pay this termination fee when, for the last 2 years, I haven't had any processing done....yet, like you, they take their monthly amount.

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