Complaint Review: Electric Money Store - Yorba Linda California

When I first signed up with them, I had been promised no monthly minimum originally and when it started, I was told I could purchase the machine and I would then not have a monthly minimum. I did that. When a  monthly minimum again showed up on my statement a year later, I called the processing company to see what was going on. I was told it is non-negotiable BUT that I could  cancel.  I called Mr. Meacham, the sales rep. who had promised me no monthly  minimum. He was rude, sly and on 6/12/09 Daniel Meacham said he needed an  updated card on file. The next day he charged me $169.95 for the machine that I already owned. He said he would refund the money if  I sent back the machine. It was received by them and signed by P.  Garza. They never refunded my money and they have my machine too! He now is offering store credit. I do not want to buy anything from them. They had no authority to charge my card in June. That was sly and illegal. I shouldn't  even had to send the machine back as it was paid for but I wanted the newly charged amount refunded and hoped to be done with them forever. I had been in contact with him monthly and all I was asking for was the $169.95 even though he also has my machine.  I registered the complaint with BBB but the company never responded to the BBB's requests.

I have since received a mass emailing on 2/9/2010 with the same old promise I got sucked into the first time (copied directly from the email...)

Open A Merchant Account With Electric Money Inc. And Electric Money Inc. Will Rebate The Purchase Price Of Your Equipment, Even If You Purchased Your Equipment From Another Vendor.

Do not get caught in the games and gimmicks offered by other processors. Electric Money Inc. does not play games or promise unreal fees to lure you into a contract. All you get with Electric Money Inc. is honest, great, 24 hour service, at a fair price. No games, gimmicks or unwelcome suprises. No fancy accounting when you get your statement each month.

Below are the standard sheet rates as set by Visa/Mastercard. As with any business, the processors are eager to earn your business. Electric Money Inc. works with all processors. Like auto insurance brokers Electric Money Inc. will search for the best processor for you. It is easy and hassle FREE. All you have to do is call 888-280-6401. We will take it from there and get you lower processing fees. That's it no wasted time or hassle contacting multiple processors. Let Electric Money Inc. do the foot work for you while you sit back and save money. Our services are We are paid directly by the processors when we sign you up for their service. We only make money if we can earn you business by saving you money.

We are so confident that we can save you money on your processing fees that we will pay you $25 if we are unable to beat your current processors rates.

Retail ( Swipe )
Discount Rate: 1.61%
Transaction Fee: $0.17
ATM / Debit Fee: $0.25
Monthly Statement: $5.00
Monthly Minimum: $0.00
Application Fee: $0.00
Set Up Fee: $0.00


Mo/To - Internet ( Non Swipe )
Discount Rate: 2.23%
Transaction Fee: $0.20
Monthly Statement: $5.00
Monthly Minimum: $0.00
Application Fee: $0.00
Set Up Fee: $0.00

CLICK HERE - To visit Electric Money Inc. and receive your FREE terminal TODAY!