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Never Bow Down! Or Extortion by Merchant Services!

mdman

mdman

MD Cigars
Joined
Aug 1, 2001
Messages
549
This is what I got from my merchant company today (wells fargo)

http://www.mdcigars.com/image/merchant.JPG

and this is my reply to them

http://www.mdcigars.com/image/reply.JPG

These guys dont even understand the law in regards to tobacco...

I will never bow down to these Anti Smoke Nazi's and high pressure tactics
To think they wanted $1000 just to register with them? that is BS.
There are too many other companys that would love to have our business. We have already changed companies so it wont affect our business in any way.

I told them what I think, now you guys can tell the guy yourself what you think! Feel free to use the info below!

Geary Lyons
Vice President, Public Sector Markets
1200 Montego Way
Walnut Creek, CA 94598
Telephone: (925) 746-7467
Fax: (925) 746-4115
E-mail: glyons@wellsfargo.com
 
What AVB said.

For future reference:

it's losing, not loosing business.

Good luck,

JC

Edit: I suggest you keep us apprised of the situation. I don't think it's far fetched to think Wells Fargo would lose more than just YOUR personal business if they keep acting like fools.
 
:thumbs: :thumbs: :thumbs:

Personally I quit doing business with Wells Fargo/Norwest years ago after confronting them for violating federal banking regulations.
 
Wells Fargo is so big they couldn't care less about an entire industry much less one merchant. If they lose every cigar store in the country it would be a blip on their bottom line.

Unfortunately every major bank will eventually go down this road. I see a future where pay pal, personal checks, money orders, western union will be used to buy a legal product.
 
The Master said:
Wells Fargo is so big they couldn't care less about an entire industry much less one merchant. If they lose every cigar store in the country it would be a blip on their bottom line.

Unfortunately every major bank will eventually go down this road. I see a future where pay pal, personal checks, money orders, western union will be used to buy a legal product.
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I dont think so.

If everybody took the same action as I have then we would not have this problem.

when Banks start losing accounts that generate millions of dollers in sales a year, they lose a lot off of those sales.

Merchant Services make a lot of each retailer.. every one of them is important.

The problem is that people dont stand up for whats right anymore.
 
Upon reflection, I have to agree with the Master. I happen to know a little about the banking industry, and even several tens of millions of dollars in deposits would not make much of a dent in the bottom line of Wells Fargo. They are one of the super-biggies.

Doesn't change the fact that we can (and should) choose to do our business elsewhere.
 
I agree, I have already chosen to stop doing business with Wells Fargo. I still have Bank of America only because they are everywhere and I travel all over for work, but I am really tired of them trying to charge a fee for everything. Now my primary checking account I have is completely free, reimburses other banks ATM fees, and pays 3.45% interest. Their rates and features got me there and their customer service is keeping me there.
 
I have heard it from a reliable source that Paypal is suspending people's accounts if they find out they sell cigars! :angry2:
 
I hate the attitude that one measley person or merchant isn't going to change a big company. Know what? YOU'RE RIGHT! BUT, you have to start somewhere. What a scary place it would be if everyone had that attitude! It might not change anything, but you don't have to support it! I think it's great that you sent that letter to them. Somebody needs to say it! Keep us posted as to their response.

STICK IT TO THE MAN! :thumbs:
 
Could I ask what these new regulations are concerning tobacco sales? Is it to collect all the missed revenue from mail order cigarettes that is causing the problem?

Thanks,

Kro77
 
The Master said:
Wells Fargo is so big they couldn't care less about an entire industry much less one merchant. If they lose every cigar store in the country it would be a blip on their bottom line.

Unfortunately every major bank will eventually go down this road. I see a future where pay pal, personal checks, money orders, western union will be used to buy a legal product.
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Well guys, I guess we are big enough to make a difference.

I got a call from some VP at wellsfargo, and they have decided not to charge me any fee or require me to do anything.... they apolgized for the tone of the letter and I will not be required to do anything if I should decide to keep my two merchant account with them.

Im still dumping them, but its nice to know that you can still make a difference.


See guys? its those who do nothing, that make it worse for the rest of us...
You should always stand up for your rights.. even if it is a battle.. You may not always win, but you will NEVER win if you never try.

If every single vendor did the same, this problem would not exist.
 
mdman said:
I dont think so.

If everybody took the same action as I have then we would not have this problem.

when Banks start losing accounts that generate millions of dollers in sales a year, they lose a lot off of those sales.

Merchant Services make a lot of each retailer.. every one of them is important.

The problem is that people dont stand up for whats right anymore.
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Sadly, this is not really the case. It sounds to me like MasterCard is pulling what Visa did a few years ago with "high risk" internet site accounts. It's an across the board rule, not just Wells Fargo. Ton's of people tried to fight that, and you know what happened? I pay $750 per year to Visa so they will process for us.

You can't look at it like it's their bottom line, you have to look at it like it's Master Cards bottom line. Cigar sales in the US are not even going to blip that line I bet. Good luck in the fight though, you may want to consider asking Wells Fargo to pay it to keep your business. If you process enough MC with them, it would be worth their while.
 
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