3.5

Moneris Solutions Review

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Date Established
2000
Location
Toronto, ON

Overview:

My first experience with Moneris was through research into Dharma Merchant Services, one of our few five-star providers. Dharma provides merchant accounts through Moneris and three other processors. As you may already know, we have all the respect in the world for Dharma Merchant Services. We thoroughly reviewed their practices and found nothing bad to say about them, which is a not-so-tiny miracle in this industry. So the first reason I like Moneris is because any friend of Dharma is a friend of mine.

A Canadian provider first and foremost, Moneris came about as a sort of super-group resulting from the Royal Bank of Canada and the Bank of Montreal combining their payment processing services into a single entity, which included Harris Bank in Chicago. Thus Moneris has some serious infrastructure and experience in the industry, and I like to see that. They have more investment capital and wider margins than a small processor, which could work in your favor.

Their Canadian website is a contender for the most thorough, polished, and generally good-looking payment processor website out there. They have article-sized testimonials from big businesses, beautifully designed catalogs, brochures, manuals, guides and just about every other resource you could ever want. Any information about interchange-plus pricing is conspicuously missing from these resources, so that’s not ideal. But still, they have a really great set up. Their US-based site doesn’t quite hit this same level of usefulness.

It’s not all good news with Moneris (is it ever?). Since our last update, a number of new complaints came in from Merchant Maverick readers regarding termination fees, technical issues and billing problems. Most alarmingly, a large percentage of complaints from our readers over the past year say that Moneris is taking liquidated damages upon early termination, which, frankly, sucks big time. They also have a handful of complaints on Ripoff Reports and through the BBB, all along the same lines. Moneris failed to address many of these complaints, and didn’t address a single complaint publicly. This sort of practice really chips away at my confidence in Moneris.

I wish I could more easily differentiate between complaints from merchants in Canada and from merchants in the US. While Moneris claims that all merchants across North America get the same level of service, I don’t believe that. I think merchants in the US have a better chance of dealing with an independent sales agent further away from corporate oversight, and I think this leads to poor and/or inconsistent practices. I’m rating Moneris 3.5 stars for now (although they’re probably a solid four-star processor if we’re just looking at their Canadian business). I really like a lot of things about this processor, but having liquidated damages AND failing to disclose this ETF consistently – thats a major screw up in my eyes.

Check out the rest of my review for more details. I hope to revisit this review with good news soon, because I really want to like this company. If you’d rather cut to the chase, take a look at our better processors.

Products and Services:

Moneris truly shines in this category. They offer an enormous number of products and services ranging from merchant accounts to office supplies, which you can browse via their online store ShopMoneris.com. If you can name a service or product related to merchant accounts, chances are Moneris can provide you with it, often in-house.

  • Merchant Accounts
  • Terminal Sales and Leasing
  • In-House Payment Gateway
  • Mobile Payment App and Swiper: With services like Square offering flat-rate processing and a free card reader (really free), most processors are trying to compete by putting out quality payment apps and mobile readers, all bundled in with their POS software.
  • Merchant Supplies: See ShopMoneris.com.
  • Online Sales Services: This includes a virtual terminal, shopping cart integration from these providers, in-house gateway service, recurring payment and a number of other features.
  • Quick Service Options: This included no-signature swipes and contactless payment.
  • POS Software: Their web-based POS system called Morris has all the features you’d expect and seems well-designed.  Since Moneris has begun marketing their POS system as a front-running vehicle for their merchant account sales, maybe we’ll have an opportunity to review it in the future. You should note, though, that it is proprietary, meaning you can’t use Morris outside of Moneris. They don’t make this very clear in the advertisements.

Fees and Rates:

First, the good news. I like Moneris because they’re Canadian. There, I said it. What does that matter, you ask? Well for starters a few years ago the Canadian government released an official “Code of Conduct” for the credit and debit card industry. While this code doesn’t currently have legally binding status, if the industry doesn’t kindly acquiesce to the simple guidelines of conduct the Canadian government will step in more forcefully, or so they claim. Under this code, merchants can expect:

  • Clear information regarding fees and rates
  • Advance notice of any new fees and fee increases
  • The ability to cancel contracts without penalty should fees rise or new fees be introduced
  • New tools to promote competition, and in particular, the freedom to accept credit payments from a particular network without the obligation to accept debit payments and vice versa

…among other provisions. Sounds pretty good, right? Well Moneris states its commitment to this Code of Conduct in many places through their website, and I’m inclined to believe them. Unfortunately, it’s not clear if these practices extend to their American customers.

Moneris does not disclose any fees or rates whatsoever. I’m kind of disappointed by this, since many processors, even big processors (like TransFirst) have begin to make at least some disclosures on their websites. On one level it doesn’t really matter, since everything will be negotiated depending on your business type and you will want an interchange-plus plan. Still, I see it as a step toward transparency in the industry. Eventually I believe that sites without any disclosure will seem outdated.

I’ve seen Moneris try to hit some merchants with big setup fees, up to $300. Don’t accept this. While a gateway setup fee makes sense, other account setup costs are generally junk fees.

On a brighter note, seasonal downtime is also offered by Moneris Solutions. You’ll be able to shut your account down for up to 6-months without fee. As always, make sure you verify those terms on your application before signing.

Contract Length and Early Termination Fee:

By default, Moneris will set you up with the industry standard for contract length. Expect your sales rep to pitch you a three-year agreement that auto-renews for one year intervals thereafter unless you submit a written cancellation request about 60 day before the end of the agreement.

They will also hit you with an early termination fee if you want to leave before the contract expires. I’ve seen a lot of merchants stating $250-300 for early termination, while others have been charge thousands of dollars to buy out the remaining time. We call this liquidated damages, since they are cashing in on the money they predict they’ve lost by losing your business. It’s asinine, but it really does happen.

The sales rep I spoke to about this promised me that I would have no such terms in my contract, and furthermore denied that any “average” merchant with Moneris would see these kinds of terms. He told me the usually ETF comes in at $300. He did say, however, that in rare cases larger merchants might expect to see those kinds of terms, but that they would be fully disclosed.

So I’m left with a “he said, she said” situation. Personally, I believe that Moneris is including liquidated damages in a fair number of their contracts, and that at least some of those cases involve non-disclosure of these terms. For this, I have to deduct serious points from Moneris. For practical purposes, however, you can protect yourself from this by simply reading your contract and paying close attention to the termination section, usually located toward the end of the document. Always go into negotiations assuming you can’t trust your sales rep. It’s sad to say that, but it’s what you have to do to protect yourself. As friendly as they may seem, salespeople are not your friends and sometimes do not have your best interest in mind.

Sales and Advertising Transparency:

Moneris does okay in this category, but not great. They don’t disclose much about fees or pricing in their sales copy, as I mentioned in the Fees and Rates section above. They also have a reputation for failing to disclose their early termination fees, as mentioned in the Contract Length and Early Termination Fee section above. The sales rep I spoke to also didn’t do a very thorough job of explaining fees and rates to me during our pre-application consultation. On the bright side, Moneris does provide copious information about the features associated with their products and services via their Canadian website, as well as the difference between various machines and plans.

Moneris also employs various sales gimmicks, which is a big turn off for me. These ploys are always designed to work in their favor, not yours. Nothing in this industry comes free, so when they say they’ll “give you” $300, know that it’s coming from somewhere – and that somewhere is probably your own pocket. This kind of thing doesn’t foster transparency. Let me walk you through a few of the central gimmicks currently advertised by Moneris.

First, they have a “90-Day Satisfaction Guarantee.” Three months seems like a sufficient amount of time to decide whether Moneris will work out, so initially I like this offer. But what does it entail? Will they provide any refunds? Well…

The promotional offer…is available from September 1, 2013 to December 31, 2013 and is available only to new merchants located in Canada that enter into Visa®, MasterCard®, Discover® and Interac® processing agreements with Moneris and that rent or buy terminal(s) from Moneris. […]

The 90-day satisfaction guarantee is limited to a waiver of the cancellation or deactivation fee if the merchant cancels any of the Agreements within 90 days from the date of the Agreement. All other fees, charges and terms and conditions in the Agreements apply.

Okay, so basically if you want to cancel within the first three months – that is, within 90 days of signing – you won’t have to pay a cancellation fee (as long as you also buy or lease your terminal through them). Well, I guess I like this, but I’d really prefer to see an affordable cancelation fee that extends the life of the contract. They meet you half way here, though. Maybe a quarter of the way.

Next, they advertise that you will get a $300 gift card for signing up with their service. Awesome! Right? Well, the aforementioned terms apply to this offer as well, and…

The gift card will be provided in the form of a GIFTPASS® from giftcertificates.ca delivered approximately 150 days after the merchant begins processing credit and debit transactions with Moneris, provided that:

1. at such time the merchant continues to be an active Moneris merchant processing transactions under valid Agreements; and

2. the merchant has processed at least $2,500.00 in Visa, MasterCard and/or Discover volume with Moneris within the first 60 days following the date that the merchant processes the first credit or debit card transaction, provided that such first transaction is processed within the first 30 days of the Agreements. [I added bolding]

Okay, well that’s something. So if you process $2,500 in the two months following your first transaction and buy or rent a terminal through Moneris, you will get a gift card credit five months after signing up. That is, of course, assuming you remain an active user of Moneris in good standing for the entirety of those five months.

Advice to Moneris: To increase transparency, nix the gimmicks and list your fees on the web. Thank you.

Customer Service and Technical Support:

Moneris offers 24/7 customer support by phone or through their Merchant Direct Secure Message Center. You’ll also find a number of manuals, troubleshooting guides, installation instructions and so on though the Merchant Support page. Not all processors offer this kind of information at your fingertips.

They also have a strange but nice sounding customer service practice called the Ambassador Program. One article describes it as:

A more unique and impressive customer service is what Moneris calls its Ambassador Program. All 1,000 employees of Moneris receive a card they can present to any merchant they meet who either has a complaint about Moneris or a question about its service. The employee gives the merchant a designated phone number, and, in turn, a dedicated team at Moneris’ call center exclusively handles those Ambassador Program calls. […] Responses to those initial conversations are guaranteed within 24 hours. Even if the merchant does not place a call, the dedicated team still will make contact. The result: A happy merchant who believes someone out there is listening.

While this seems a little haphazard, it’s a nice idea. I’d like to do business with a company that thinks outside of the box for customer support. I just hope that their non-Ambassador Program service can provide a good solution for the average customer as well.

Have you worked with Moneris Solutions? Feel free to leave us your review. Don’t forget to read the user review and comment policy.

Negative Reviews and Complaints:

While you’ll find more good press about Moneris than you will for an average processor, a fair number of negative reviews populate review sites as well as our comments section. What’s particularly alarming is that these complaints seem to come in more and more as time goes on.

Overall, Moneris has a relatively small volume of complaints on the BBB site and Ripoff Reports considering the size of the company. Their Illinois-based offices and Toronto-based offices have separate BBB profiles, with C- and A+ ratings, respectively. Altogether they have only 52 BBB complaints in the past three years, three of which were never resolved. Few specific details for any complaints are published. A handful of predominately negative reviews also came in via their Google page. For a processor of this size, 52 BBB complaints split between two countries is way better than average, so that’s something to consider. Because remember this:

Moneris processes more than 3 billion credit and debit card transactions a year, for over 350,000 merchant locations across North America.

That’s a lot. Since they serve hundreds of thousands of merchants, it’s not such a bad track record. A single bad sales office could easily create that volume of complaints. Most commonly, complaints include the following:

  • Nondisclosure of early termination fees and liquidated damages: As with most payment processors, the number one complaint you’ll see has to do with allegedly undisclosed early termination fees. You don’t have to worry about this, of course, since you will make sure to bring this up in negotiations and you will not sign the contract until their ETF clause is amended to your satisfaction (right?). Many merchants have complained in our comments section and on other review sites about liquidated damages as a part of their early termination fee. For some merchants, this translates to thousands of dollars owed upon closing, which Moneris automatically takes from their accounts. A number of complaints assert that these damages are equal to the three highest months of processing fees combined, with a bottom limit of $250. I find this troubling. While you can ultimately prevent these terms by carefully reviewing the termination section of the contract, Moneris loses points with me for having ever offered this kind of fee.
  • Undisclosed automatic renewal of contract: Again, this comes up with a ton of processors. It happens for two reasons. First, it happens because auto-renewal is the industry standard and 95% of processors have this as part of their stand merchant agreements. Next, it happens because many sales agents just want to get you signed up while disclosing as few potential sticking points as possible. The problem is that unsatisfied merchants are waiting patiently for the three-year contract to be up so they won’t have to pay the termination fee. They wait and wait and then when it’s time for the contract to expire they call to cancel only to find out they are stuck for another year! In case you were wondering, this makes merchants very angry. While I understand why they do the auto-renewal (it saves them money and makes them money), Moneris needs to do a much better job of informing their merchants about it.
  • Poor customer service: A few merchants have complained about dealing with rude customer service reps, especially when it comes to handling more complex problems. I’d like to hear some more opinions on this, as it’s difficult to tell based on a few anonymous complaints. If you’ve dealt with their customer service reps, please let us know how it’s been. Authenticated reviews will, as always, be heavily considered in future updates.

Positive Reviews and Testimonials:

Moneris has a pretty nice section dedicated to “Success Stories.” They’re basically case studies of past merchants that have had success using Moneris as their payment processor. This includes some big clients like McDonalds Canada as well as smaller merchants. You can look through them and see if your business is similar to any of them. If so, then it’s possible that you’ll have the same success.

While this content of course comes through the controlled filter of Moneris’s own words and selection, I think they’re a great forum to showcase the real-world value and potential of their line of products and services. Aside from the Success Stories page, you’ll find a variety of these case studies scattered throughout their site. Just do a simple search for “testimonials” on the site to see what I mean. It’s pretty impressive.

The US-based site, on the other hand, has a less impressive offering in this category (and basically every category). But you can check out a couple-few short reviews here.

Final Verdict:

I went into this update hoping to bump Moneris up a notch, but unfortunately their hefty termination fees and failure to disclose important contract terms verbally before signing prevented me from doing that. I think their products and services are actually fairly good, especially for Canadian merchants, so I’m disappointed that this lack of sales transparency – probably from just a select few independent resellers – has made it so difficult for me to trust Moneris overall.

Unfortunately Moneris decided to have both sectors under one company name, so for the purposes of this review I must take all practices into consideration. I’d love it if readers could help me out here. In your reviews, please make a note to let me know if you have your have your contract in Canada or in the US. This information would allow me to give a more accurate picture of Moneris’s practices in future updates. Thank you! Until then, I can only offer 3.5 out of 5 stars.

In the meantime, I’d recommend checking out some of our better-rated processors, especially for US-based merchants.

Tom DeSimone

Tom DeSimone

Tom loves asking tough questions and getting straight answers, so he has a lot of fun calling payment processors for Merchant Maverick to cut through their smoke and mirrors and find the real deals. He has run a full-time editorial business from his home in New York’s Hudson Valley since 2010 and could not imagine a better job. When not busy writing and keeping credit processors honest, Tom enjoys backpacking in the mountains.
Tom DeSimone
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53 Comments

    Virginia

    I have just reviewed an OA-S19 contract from Moneris Solutions that I have obtained through Dharma Merchant Services. The contract is one year auto renew. The section 25 on early cancellation fees has been removed from my document. Perhaps Moneris is aware of your recent review or perhaps it was removed by Dharma Merchant services.

    Thank you very much for your website. It has been very helpful to me in our search for a new provider.

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    Mary Jordan

    Did you end up signing up with Dharma? If so, how is it going with them? If not, who did you end up choosing? Thank you so much.

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    Virginia

    FWIW, I read my application more carefully. The “waive early termination fee” appears to be coming via a Special Program from Dharma Merchant Services, not Moneris Solutions.

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    Amad E.

    That’s correct Virginia. Dharma has a special agreement with Moneris in which they waive the early termination fee.

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    Marion Case

    10+ year merchant with Moneris. Opened third location, new account refused. No reason given. Rates increased. Called today to cancel account as we have opened with another provider who will cover all locations. Very uncooperative and rude representative. When I asked how to spell his name (for my records) he hung up! I surmised the closing application was over. I was unaware of the $300 per account cancelation fee. Do you suppose this is why Moneris requires a seperate merchant number for each location?

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    Suzanne

    Since May I have a $9.95 “Pre-authorized Payment No Fee, ACCT SERV PKG MSP/DIV” charge on my Moneris merchant account. Why? I don’t recall any mention of this new “No Fee” fee?
    Suzanne

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    Melissa

    I was charged the same amount per month $9.95 which wasn’t stated in my contract.

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    Mike

    You are required to have separate merchant accounts per location for security purposes

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    Scott

    I just found out the hard way as well about the Moneris theft of $300, based on an ‘agreement’ that I was never privy to. I asked for the ‘agreement’ to be faxed to me, and it indeed does say that there is a $300 cancel fee. Trouble is, I have never seen this form, ever. I was told that it was in place when I signed for the terminal. Shuldn’t we be given a copy of any such agreement and given a chance to read ot, or have it explained?

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    David Pfau

    I was ripped off by Moneris Solutions. I was only with them for three months and cancelled because they would not change the font to be legible on my printed tickets. They offered to sell a new machine to me. Once I cancelled for getting NO SATISFACTION from their services they took OVER $1300 from my account not as a cancellation fee but for their “lost business” feel. I tried getting my money back but was told I needed to hire a lawyer and sue them. I can’t afford that so I got ripped off. They even paid $250 for cancellation fees from my previous processor but yet they rip me off for $1300. My business is in Alabama.

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    Vikash Sharma

    All processors are the same Moneris, Payment Tech, Pivotal Payments,First Data, Global Payments , any banks and others.

    You have to read the contract before signing, this is the number one mistake merchants make, the salesperson will tell you no need to read contract. The contract always states its automatic renewal and contract term varies between 3-5 years depending on the company. Some companies also will charge you liquidation damages if you cancel the contract, LD is calculated from monthly fees, monthly volumes of sales and any misc monthly or yearly charges. I have see merchants charges over $50.000 depending on their volume of sales. If you don’t understand your contract have a lawyer read over the contract. Another issue is terminal purchase versus terminal leases, LFG is a rip-off they offer you a 4 year lease non-cancellable but they fail to mention that after your 4 year lease you have to buy-back the lease you will still be billed monthly charges.

    Hope this helps anyone

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    Jason J

    I have been with Moneris for last few years but i am definitely going to change it this day. I am really fed up with their service and i feel they will scam you like anything else. Charging you your hard earned money left and right. I am really depressed and will go ahead for cancellation of which i have to pay another $300. I am Not Satisfied.

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    Eddy

    I can confirm that Moneris solutions have hidden fees.
    Moneris charges an extra 20$ EVERY MONTH fee PER EACH moneris terminal if we do not process a total of 8000$ per terminal. We have never been made aware of such charge.

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    tim

    Moneris & RBC bank
    To all merchants looking for credit card processing:

    Please be aware of the fine print which includes VERY excessive and severe consequences for early termination of this (3) year agreement. Below is what will happen if you decide to leave Moneris Payment Solutions or discontinue processing according to their terms stated in application MSFRI-OC-APP-0910.
    “Early Termination Fee is calculated based on the greater of Two Hundred Fifty Dollars ($250) or Bank’s average monthly volume derived from processing Merchant’s
    transactions (based on an average of the highest three (3)months of processing volume during the previous or current term of the Agreement,whichever is greater),multiplied by .003,multiplied by the number of full and partial
    months remaining in the term of the Agreement”
    EX: A business processes $40,000 monthly in credit cards and is unhappy with increased rates and poor service. After 1 long year of being fed up they change processors and cancel Moneris.
    The Consequence: $40,000 x .003= $120….then take ….$120 x 24 (months remaining) on your (3) year term= YOU GET HIT WITH A $2,880 CANCELLATION FEE.
    But please keep reading because it gets more ridiculous…………….
    “TERM AND TERMINATION. (1)Term.The termof thisAgreement,including any equipment
    rental, shall be for three (3) years from the Effective Date and shall remain in full force and effect
    until termination.This Agreement shall be automatically renewed thereafter for successive three
    (3) yearperiods unless Merchant gives written notice of termination at least sixty (60)daysbut not
    more than one hundred twenty (120) days prior to the expiration of the then existing term.
    (2) FEES FOR DISCONTINUING PROCESSING. In the event Merchant (i) discontinues or ceases
    processing of Card Transactions prior to the end of the term hereof, or (ii) gives notice of discontinuance
    of processing (including an invalid or ineffective termination notice),or (iii) violates Section
    15 of this Agreement, Merchant shall pay Bank upon demand the Early Termination Fee
    described in the Schedule of Rates and Fees attached to and made part of this Agreement. Merchant
    agrees to pay this Early Termination Fee and agrees that such Early Termination Fee constitutes
    liquidated damages and is not a penalty.”
    In other words…unless Moneris is notified within 60-120 days at the end of the initial contract…They will stick owners back into another 3- year contract without consent. Therefore allowing merchants that have been with them for 3-10 years to still be subject to these outrageous fees.
    The above also states that merchants can be punished for discontinued processing. So if you close your business or for whatever reason decide not take credit cards, you are still on the hook for thousands of dollars…And believe me they come after you… as well as none of this gets explained as your signing the contract.

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    Heather

    this is happening to me right now, they are saying that i owe them over 2700.00 in fees, changed to a new company in June and they are just now sending me this nasty gram here in December, I signed with them back in 2004 and who knows what was or wasn’t said back then but i am sure i was not told about their renewal terms because i would not have agreed to something so stupid as that, I hate being locked into something for so long and not having a way out, please give me some advice if you can, thanks

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    Reg Siemens

    Same story here. Longtime Moneris customers. After repeated fee increases we sought out another credit card processor. Called to cancel and were made aware of this ridiculous contract that we had NEVER seen or signed. Decided to wait until renewal (cause it’s only 8 months away) and then were told that we couldn’t give notice of our desire to NOT renew until within the 90 days prior to renewal. I asked for an address of record where I could send a registered letter to document our desire to not renew and they refused to supply it. Insisted that we call back within the 90 days. When we do that I suspect they’ll tell us it’s too late and that we should have phone PRIOR to the 90 days. Just ridiculous! Absolute extortion!!! Seek out another solution! These guys are bandits! And for the record, this organization is a joint venture of RBC and BMO, pulling your business from either of those institutions would be another wise move – and be sure to tell them why!

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    Keith Adler

    I deal with Moneris in the US and have for several years with no real issues to speak of. Within the last year, I have had nothing but poor customer service. In the past I would get my issue or question answer immediately on the phone. Now they have changed the way ypu get serviced and to come out to find after asking some questions, that they moved these departments to Canada. Now I understand why companies consolidate, but it seems that they have put a bunch layers in now and their reps just take messages and say that someone will call me back. The average turn around seems to be 2 days if at all. I miss the one call and I’m done approach they use to have. I’ve decided to start looking elsewhere because maybe they have just gotten to big.

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    Julie Jewell

    Just try to cancel your contract with Moneris. They have a feE schedule that is referred to and never available. It says see section 19 and there is no page 4 or section 19. I have been trying to work with the company for over 6 months and they are so big, they can cancel you at anytime but you can never cancel them. They take your largest 3 months in your 3 year history and that is your cancellation or early termination fee, not the standard 250 try 2600. I have filed with the BBB and they debited my account anyway. They have raised their rates, April, then again in June, it is in tiny print on the last page of your statement. Beware ! Also you have to cancel 6 months prior to the end of your contract in writing. Beware of being grandfathered in when they buy out a company too !! Beware of sales people selling you great things from a company that has their best interests at heart. Beware of the qualified vs non-qualified transactions, you could be charged 4% of the sale. Beware, they are Gods and you are just a stupid merchant and they hold all the power and can do whatever they want to you. GET OUT, CLOSE YOUR ACCOUNT AS SOON AS YOU CAN, MONERIS IS A BAD WORD FOR MERCHANT SERVICES.

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    Sunny

    I was just talking to a Moneris representative on the phone today. I asked about interchange + pricing. And he must have thought I had heard to ask that interchange pricing is the way to go but that I didn’t know much details about it. He tried to convince me that interchange pricing includes 1.65% base + 0.25% for rewards type cards + the interchange fee. When I asked him how much the interchange fees are he said they are usually between 0.3% and 0.7% however on the Visa and Mastercard interchange fee schedule on their website it lists ecommerce fees around 1.55%.

    After I brought it up a 2nd and 3rd time he tried to get me to ask the others about it. He answered the phone as [edited: name removed]. At the end when I asked him for his extension # and name he had changed it to [edited: name removed] after I said to confirm it was [edited: name removed]. And also I asked him to send me a quote by email which was also not sent (no surprise).

    If this type of behavior is being done by their sales people, it is no doubt structured that way from the very top. These are unethical business people and everyone should be very wary and careful when dealing with these guys. And by being careful I mean look elsewhere for a merchant!

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    Cassandra Cornell

    Does anyone have a better solution than Monteris? Julie, Reg, Heather have any of you switched to a provider that offers a better system?

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    Marian

    Worst company ever! Avoid Moneris at any cost! After 8 years with them, they are asking for $3,200 to close the account, because of that 3 YEARS RENEWAL clause THAT NOBOADY KNOWS ABOUT! THIS IS OUTRAGEOUS!!!!!!!!
    I hope someone will close their business or ask them about their practices!

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    Jared London

    Im having a hard time figuring out how this company has a 4 star review, they are clearly the opitomy of of evilness in merchant services. My advise to any merchant with Moneris is to contact your attorney general ASAP, if you just turn tail and take this abuse you will get it. If you have found a new MSP get up and running with them and periodically plug your Moneris terminal in and run a few transactions because the will attempt to ACh you if they find out you’ve switched and ps the contract says you can not switch banks nor MSP’ s. We are currently working on a lawsuit against this company and would like any readers with questions or complaints about Moneris to email me for advise as we have got multiple clients out of these rediculas fees. After seeing the rating merchant maverick has givin them this website has lost some credibility in my eyes and is not up to date on many subjects. Best of luck and turn their ACH abilities off with your bank, because sooner or later you will get hit for these fees unless you fight back. Good luck

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    Amad E.

    Thanks for the input Jared. The Moneris review is due for an update, and we’ll reconsider their score if necessary.

    After seeing the rating merchant maverick has givin them this website has lost some credibility in my eyes and is not up to date on many subjects.

    Would you mind telling me which subjects are not up to date? I’d like to get them fixed if necessary.

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    Jared London

    The cancellation, this sight states $250-300. The fact is that if a merchant cancels with them they will take the average volume of the highest months and figure 3% of that along with any fixed fee’s is then multiplied by the remaining monthes with a fee no less than $250. All I am saying is that I have had multiple clients that have recieved bills anywhere from $2700- $21000 and I would hate to see a person look for advice on this sight and then end up like this. Moneris also has a claus that says you can not leave RBC or you will have the same harm. Moneris also uses FD Nashville and TSYS if you werent aware. I noticed you gave Heartland 5 stars, just so you are aware they have raised their ETF to $500. Ive been in this industry a combined 10 years with my partner, neither of us have ever leased equipment no written a teired account, we sell with honesty and integrity and answer the phone for our clients; so when I see what Moneris does it makes me sick.

    RatingNot Rated
    Amad E.

    Thanks Jared. The Moneris cancellation fee was historically $250-$300, but it seems they’ve changed to a liquidated damages type ETF as of late. Still, it would be nice to see a copy of their new contract. Do you have one that you can send me?

    RatingNot Rated
    ira

    Jared:

    We got involved with Moneris through RBC bank. We were led to believe they were rbc’s in house processor and their ridiculous 3 year contract terms were not made clear at signing. Shame on me for not reserching this more closely. When RBC pulled out
    of Georgia and we had to switch banks, we switched to a local processor.
    I am now getting calls from their counsel demanding a $3000 termination fee. If a Moneris rep contacts you, run for your life. It seems to my uneducated self to be simple usury. Most upstanding processors will wave this contract requirement if confronted. You will need to read to page 28 in their contract to find this hidden requirement.

    RatingNot Rated
    donna

    Hi Jared, just another victim of our own stupidity…we too have been in a conflict with the above mentioned, and are wondering what to do. they have cancelled with us, and now want 2900 dollars! reading your remarks, and wondering if you had any success or can point me in the right direction?
    thanxs, disallusioned…

    RatingNot Rated
    Susie

    Hello Jared,

    Can you let me know how the lawsuit turned out for you? We are also being harassed by Moneris. Any information would be helpful.

    Thank you!

    RatingNot Rated
    Saskatoon

    Anyone currently with Moneris may be interested to know that as per the Code of Conduct for Credit and Debit Card Industry that you have 90 days to opt out of your contract without penalty if they raise your fees.

    Many customers (including our business) received a PCI Security Fee addition that will be effective July 1st. If you received this on your March 31st statement you will have 90 days from that time to cancel.

    See this link for more info direct from Moneris
    http://www.moneris.com/Support/Help/Interchange.aspx

    Hope that helps!

    RatingNot Rated
    brian mchenry

    Read the fine print from Moneris. They stealthily initiated a $10 per month PCI fee and then a $20/month ‘non-compliance’ PCI fee and when i checked around, others simply charge a $10 per month compliance fee. So i told Moneris i was moving my credit card handling to another company after almost 2 years with them So what did they do? DING me a $250 cancel fee??!! ALL OTHER merchant service companies have MONTH TO MONTH contracts so you can cancel any time. DO NOT USE MONERIS they will nickel and dime you (apparently their sales rep said ‘oh yea, we’re month to month’ but in the fine print they include a 3 YEAR CONTRACT? and then even after i mentioned what their sales rep represented to my company they refused to ‘waive’ the fee. Also because i trusted them and didn’t notice the PCI fees for many months i was beyond the 90 day cancellation window. I recommend you stay away form MONERiS and find a company who gives you month to month contracts.

    RatingNot Rated
    Ted B

    I am willing to pay the cancellation fee! It would save me a lot of money as their processing is SO INCACCURATE! They told me they have a “known problem” in the software of their new equipment. In two days, they deposited roughly $6,000 LESS than the dollar amount we have in transaction slips. According to them, their reports balance so it is something we’re doing. They then suggested we use a different report as their report that we’re currently using “isn’t accurate”. It often takes 2 huors to settle and balance 1 day of electronic payments PLUS the time I’ve spent on the phone with them repeatedly asking for a rep to attend our place of business. I am in Toronto so it isn’t a great distance. I was with Global Payments and left because their equipment was unreliable and frequently crashed at our busiest time. At least their reports were accurate and reliable. I’m currently seaching for a provider with accurate reporting and reliable equipment! Ted

    RatingNot Rated
    Very Concerned

    Emails dated april 21 2012..

    Please confirm what you mean after the 90 days, you will not have to do anything for the rebate promotion as the money is deposited into your business bank account automatically if you continue to use the services after those 90 days, enjoy the 2 month trip!

    David Preston

    IB Sales Consultant

    david.preston@moneris.com

    ( 1-877-825-0361×4436
    ( 416-232-2391×4436

    Fax: 416-2347094

    Called after that 90 days period to find out he is no longer there.. its now Oct 31 2012 and still no 500 bonus for staying 90 days what gives??? Am i being scammed?

    RatingNot Rated
    Zoë Stewart

    I just closed my father’s account with Moneris. He was the smallest of the small time operators, lost money consistently, and paid ridiculous fees to Moneris for years, relative to his sales volume. He still used one of the old “knuckle-busters” to run credit cards through. I spoke to a customer service rep named [edited: name removed] to cancel, and of course nearly choked when she got to the $300 cancellation fee. She said, ever so softy, “It’s in the contract…”
    “I can’t tell him that” I said, ” Look at his sales history, have you seen how little he makes? I can’t tell him it will cost him $300 to retire. Is there anyway around it?” She put me on hold, spoke to a supervisor, and waived the fee!
    I don’t know what rating to give. My father’s experience with this company was mostly negative, but then [edited: name removed] (blessings upon her), saved the day and let my father out without exacting the requisite pound of flesh.
    I guess it’s worth it to read contracts carefully.

    Rating11111
    Fahad

    @ zoe Stewart, can you please provide me the name they have deleted so i would know which company to choose for my payment processing needs.

    THanks

    RatingNot Rated
    Nicky Morrison

    Yep, same boat. Except I stopped them taking payments from my bank via TD. TD was applaulded. They Moneris representative claims that the $300.00 they wanted to take from my account was to pay for space on their server for keeping my information for the next four years. In the four years I have been with them only one of my clients complained and that is only because they did not recognize our name on their credit card statement and this was cleared up with the client and Moneris with a five minute phone call. I asked Moneris to show me where I signed this contract and they say I never did. It is just understood the first time I use the machine.

    I am disgusted with Moneris after being a client of their’s for four years.

    RatingNot Rated
    ronnie giles

    I am writing this complaint concerning Moneris Solutions to warn others about their exuberant costs. Moneris Solutions is a company that provides card services to businesses at rates that equal 10% of total sales in my case. I have dealt with this poor excuse of a company for the last few years.Until another company in the same field of business enlightened me,Bank Associates Merchant Services,charging me half as much. I switched companies last month and Moneris gave me a going away present of $71.90 in charges. Here’s the sick part.! I didn’’t have any transactions with them during that period.The person that I complained to at Moneris told me that the charges were out of his control.The fellas name and position at Moneris,[edited: name removed] | Merchant Retention and Account Management | Moneris Solutions further told me to complain to some attorney at the company. Instead I have decided to enlighten the business community to avoid using this company.

    RatingNot Rated
    Diane Guignard

    I feel much the same as most of you on here!
    Moneris misinforms and charges customers fees for NO service.
    Here is my story:
    I inherited a Moneris machine with the business I purchased last summer. I called to activate a merchant account, so funds would be forwarded to me. No problem. I called to close in the fall, since it was a seasonal business. No problem, I return the machine ($35/mth) and I’m advised to continue paying the $15 a month to keep the account open so I would not have to pay another set up fee ($250) next spring, makes sense, cheaper to pay $15 for 6 months, than pay another set up fee.
    I called back recently to get a debit machine for start up, guess what ?, another set up fee, now $300???? I’m pissed, since I paid all winter for nothing. No problem, I acquired the services of another merchant account company and cancelled this account. Guess what $300 fee to close the account???? Yup, $300 to click “CLOSE” wow, Moneris, I will never be back, nor will i even so much as pay anything on any of your machines in the future. All the best to you, I hope you choke on my $300, plus the $90 I paid to keep my account open all winter for nothing.

    RatingNot Rated
    Diane Guignard

    Oops, one star! don’t even deserve that.

    Rating11111
    LY HOANG

    I HAD CONTRACT WITH MONERIS FOR 3 YEARS. NOW 3 YEARS IS OVER, I WANT TO CANCEL THEIR SERVICES. FIRST, THEY SAID I HAVE TO PAY $300 FOR CANCEL BECAUSE OF AUTOMATIC RENEWAL. I LOOK BACK ON THE PAPER THAT I SIGNED, DID NOT SAY THAT. THEY SAID IT COME WITH THE TERM AND AGREEMENT PAPER WITH CAME ON THE DAY THAT THEY INSTALL THE TERMINAL.

    RatingNot Rated
    Alan Taylor

    Avoid Moneris at all costs. They seem to have stupid staff. They wrote us about an unpaid invoice for peanuts and when I called them to pay they said that their collection dept had it wrong and that our account was in order. Then they cancelled it 2 days later and refused to respond to emails.

    RatingNot Rated
    Mario Crespi

    These people are THIEVES. The WORST company ever. Their charges are ASTRONOMICAL and they have NO integrity or honesty. They will nickle and dime you to death and even after a request for cancellation of our account had been accepted, they still continued to withdraw money from the account. ABSOLUTELY THE WORST COMPANY IN THE STATES. I give this company 1 star because there is no choice for a ZERO.

    Rating11111
    Jason Ramos

    Have been with Moneris for 8 years and I had to switch to due technical issues with their pinpad integrating with my computer system.

    After canceling my 5 accounts I received a $300 cancellation charge for each. I am under no contract and when I request a copy of the contracts, I get no response.

    No one in interested in providing back-up to this contract.

    So frustrating!

    TD Merchant Services on the other hand, gave a better rate, better service and someone that I can call when I need help.

    Not Moneris! Definitely the worst supplier relationship that I have had with a financial institution.

    As with any of my review I am more than glad to remove or modify my review once the issue has been solved. If you are reading this, it’s because Moneris still has not replied to me regarding why they have charged me $1,500 in cancellation fees.

    RatingNot Rated
    Priesh

    Moneris Solutions is statind that i have a 90 day trial period with their service. I have called this week (Nov 11, 2013) to cancel the service and they are waiving the $300 termination fee, however i have to pay the value of the Terminal $742.27

    When i spoke to the Sales Rep on the phone on the 11th Nov 2013, he also admitted to not giving me the right information and nowhere does it state on my contract that i have to pay the Terminal in full within the 90-day trial period!

    I have filled a complaint with the BBB.

    RatingNot Rated
    Jack Turley

    We fired Moneris yesterday after a rough 7 month stint with them. They are a very ethically challenged company who are arrogant enough to believe that they can treat their clients with complete disregard and have the client come crawling back wanting more. Promises were made when we switched over to them from Chase Paymentec ($300 gift card for each account) and then those promises were broken without so much as an apology. Their customer service reps are wretched at their job, but I guess they are just an extension of the corporate culture in that they are arrogant and belittling. We have been in business for almost 23 years so we are not neophytes who demand the unattainable. Our only demand is that any business associate with us act in a business like manner. Moneris failed this test.

    Rating11111
    Moneris user

    I am just disappointed that I have found out that Moneris is releasing name of businesses to a private lender that is partnering with them and offering you money without consenting with you before releasing names of the business to this organization!!! Not cool!

    Rating11111
    Stuart

    I’ve been using Morris/Moneris for a year now. Whilst I’ve had problems, they have to be fair been pretty quick at solving them. However, I’ve just done my first stocktake in my new business and discovered a very basic, but major flaw in their system. So basic in fact, they should be embarrassed….You can Add inventory, Update Inventory or Add and Update, but you can’t replace existing data with new data. I have over 3,000 products and have to go into each one that I don’t currently have in stock to amend inventory errors. You would think that a simple scanned stocktake followed by an import of the resulting data to override existing data would be an obvious feature.

    RatingNot Rated
    Jan

    Just wanted to chip in on Moneris. We have several webstores and have had several processors over the years. Moneris is the worst. Two of our websites have been using Moneris as processor for almost four years. When we wanted to switch to a different processor, they informed us, that we had to pay termination fees described above as liquidated damages. We had initially entered into a 3 year agreement, that I have now learned included these liquidated damage charges. When our agreement expired after three years, it auto renewed for another three years and the absurd temination fees continued to be a part of the agreement, so when we terminated after being a good customer for four years, we ended up having to pay in excess of $6,000. I would advise other merchants to stay away from Moneris and as a minimum to make sure, that any agreement only has a one year life and that it does not have these liquidated damage fees included. I would advise Merchants already using Moneris to check their agreements and if they have any of these clauses, renegotiate when the agreements expire (and remember there will only be a 60 day window to do so).

    Rating11111
    charrier mehdi

    Every company in canada have not asking a fee for the cancellation before 90 days, it’s a gouvernement’s loy.
    The cancellation fee with moneris is $ 300 for every custumers. the contract is automatically renewed, more moneris to increase these rates in 2013 and he add a PCI security fees per month or every 3 monthes.

    RatingNot Rated
    John Mountain

    When we no longer needed this debit machine we were charged a $300 fee to cancel and were told to pack up their machine and it would be picked up. That’s all normal and the machine was duly picked up. However we were then charged for an extra month despite having paid the cancellation fee and signing the documents, because they didn’t receive the machine back in time (don’t forget they organized the machine to be returned). They will not refund the months rental. Stealing would be what I would call this. To take money for no product or service!! On reading the reviews this is obviously one of your business practices! Moneris we would not use nor recommend you again. We will refer this to the BBB and to our local business associations. Small businesses work hard to make ends meet and you should be ashamed or yourselves for your bad business practice.

    RatingNot Rated
    DAvid

    We had a three year contract with Moneris Solutions to process our MasterCard and Visa payments. After over 2+ years we decided we couldn’t justify the monthly charges since we were we not being asked to use CC in our business. We called Moneris to verify the end date of our contract and to ask if there would be any cancellation fees if we closed our account at the end of our contract period. We werer told that there there was a $250 cancellation fee or we could just pay till the end of our contract Dec 2014. Apparently the fine print in the contract also says that if you don’t use the service they can cancel you and charge you $250. We continued to pay the monthly service charges intending to payout till the end of 2014. We have two accounts with them so our fee would have been $500. We opted to just pay the minimum for the rest of the service period. What Moneris does is very clever. They continue to charge your account for months even if you don’t use they service, then before your contract period is over they cancel you for not using the service and charge you $250 termination fee.The manager of customer service was rude and unhelpful. Also beware there is a small window to terminate in writing or your are on the hook for another 3 years. This means it will costs me $1,000 to stop doing business with Moneris. This company is based in Canada. Don’t trust them. I am using aurthorize.net. Moneris is a rip off and they should not be allow to do business in the US. They claim to operate under the Canadian Code of Conduct, but it is unclear it it applies to US customers.

    RatingNot Rated
    Camilla Perreault

    I like Moneris as a merchant provider. But I am extremely disappointed at their lack of safety and report options when it comes to gift cards. To not have to put it a clerk ID when selling gift cards is to me as a business owner not acceptable. It is extremely easy to make extra money for someone not honest, especially if customers pay cash for their gift cards. No control what so ever. I wish to think this is about the staff you hire, but it is also easy to make mistakes, and forget to punch into the POS system if it is not connected to your terminal could be the same. You can not get reports helping you to track down who has sold what gift card and how it has been paid. This to me, is enough to say no to their gift card service if you were ever thinking of signing up, do not lock your self up on this useless service, I am sure there are others out there that knows how to make this system safer.

    Rating33333
    John Cooper

    Ridiculous early termination fees – USURY.

    My new rep says they’re higher than a hospital he just converted – I have a small business.

    AVOID THESE PEOPLE AT ALL COSTS _ THEY ARE TERRIBLE !!!

    Rating11111
    Yann Mergui

    Ugly company with ugly employees. Their only target is to rip off merchants, taking all the money they can from them and then screw them. If you like to be ripped off go ahead with this company if i can call that a company…They gonna put you on the mastercard blacklist for no reason and close your account in 2 hours just over the phone after almost 9 years of business with them and taking high fees.

    Rating11111

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