Surprise! Wells Fargo found out that after an internal probe, some of it’s account executives were ripping off customers and charging some very high fees as per the WSJ. Unfortunately this practice is all too common among processors. I have seen companies that sent in statements where for some credit cards they were being charge 14%! This happens at the big name firms all the time as they take advantage of a merchant’s trust in their established name. The bottom line: always make sure to deal with a reputable merchant service provider.
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