Credit Card Processing, Legal

Wells Fargo Merchant Services Lawsuit

Let’s take a look at what the lawsuit claims and what you can do if you process credit cards through Wells Fargo Merchant Services. Wells Fargo Lawsuit Wells Fargo’s Response First Data’s Role Does this affect you? What to Look For Tiered Pricing Excessive Bundled Rates Billback Pricing Interchange Clearing Fee Excessive Interchange Markup Equipment…

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In the latest accusation against Wells Fargo, the company’s merchant services division is facing a lawsuit that alleges misleading sales tactics, expensive cancellation fees, and overbilling, including mislabeling some of its own fees as interchange.

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Credit Card Processing

Interchange Clearing Fee – Wells Fargo Merchant Services

It’s pretty clear from our Wells Fargo Merchant Services review that we don’t hold the company’s credit card processing services in the highest regard. We formed this opinion over many years of reviewing quotes, applications, and statements that push opaque, overly aggressive pricing. A relatively recent addition to Wells Fargo’s arsenal of tricks is its…

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Wells Fargo Merchant Services slips an opaque “Interchange Clearing Fee” into its interchange-plus pricing, adding more proof to the fact that interchange-plus does not guarantee competitive credit card processing fees.

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