Changing Merchant Account provider

abc2zeed

I have just registered with 'SUM UP Payments Ltd' for my Merchant Account Service 3 days ago. Actually I am yet to receive my PIN+terminal. Now the problem is, I have now changed my mind after reading through feedbacks/reviews of their customers (I should have that before anyway), None of the reviews is good. I have been issued a Merchant ID.
Please I need advice, how do I change to other provider? Will I be able to get my money back? And which provider will be most suitable for a small business? Thank you for your time

paddyrg

Oh dear, consumer protection laws don't apply to businesses. If you've made an agreement, you'll likely find yourself being held to the whole of the contract term. Make very sure you read the terms around cancellation in your agreement (they'll be there), some companies can be a little slippery with you having a narrow window to break the deal.

Rappa

abc2zeed wrote: »

I have just registered with 'SUM UP Payments Ltd' for my Merchant Account Service 3 days ago. Actually I am yet to receive my PIN+terminal. Now the problem is, I have now changed my mind after reading through feedbacks/reviews of their customers (I should have that before anyway), None of the reviews is good. I have been issued a Merchant ID.
Please I need advice, how do I change to other provider? Will I be able to get my money back? And which provider will be most suitable for a small business? Thank you for your time

In business it really is, as paddy says, important to read any contract you engage in.

In this instance, I think you will find Section 15 covers how you may terminate the agreement.

However, as this appears to be a PAYG type contract; if you don't use it, it shouldn't cost you anything (and if you don't use it, they may cancel the contract anyway )

So this leads to the question as to what money have you already paid? I'm guessing you ordered a payment terminal.
If I'm correct, then fortunately that particular item comes with a 30 day moneyback guarantee.

Looks like you may get off lightly with this particular contract, but learn from it as many contracts you enter into in the future may not be so foregiving.

abc2zeed

Thank you very much for your advice, it's a great lesson

abc2zeed

Thank you Rappa for your advice. You're right in respect of the 30-day money back guarantee. I quote from their website
"Test our PIN+ card terminal without any risk. If you're not satisfied, you can return the device within 30 days after the date of order. We will refund you the purchase price within 2 weeks to your registered bank account" .
I will return the terminal asap and hope they would honour their word.
Now I am back to the big question. Which Merchant Account provider do I register with?? I believe a PAYG terminal would suit me most at the present. I will appreciate your valuable suggestions please

paddyrg

Oh, apologies, didn't realise they were PAYG, there are many terminal providers who very much will hold you to every penny of 3 months.

Alternative PAYG providers include Worldpay Zinc, PayPal and izettle