What happened when he refused the equipment
Perez says he was sent a physical card processor, which he doesn't need because the vast majority of his customers’ payments are made online. What’s more, his business location at the bottom of an office tower isn’t suited for the equipment Synergy Payment Solutions uses.
“We don’t get very good Wi-Fi signal down here, which is what’s needed to actually operate the system,” he said.
On top of that, Perez says he was charged to lease the equipment — a total of $3,120 over four years.
Perez says he tried explaining things to Synergy Payment Solutions and refused to pay the leasing charge. His account was then sent to collections.
On Your Side reached out to Synergy Payment Solutions to investigate. The company told reporters that it resolved the issue back in February, and they “agreed to close the account as well as his equipment agreement.”
Perez says he was never notified his account was closed, nor was he asked to return the equipment. In any case, he’s hopeful the situation has been resolved.
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Learn MoreAvoid being hit with unexpected fees
Running a business means staying on top of every aspect of your operations, including unforeseen fees. It pays to dig into what you’ll be paying, even if a vendor or company charges you less than another competitor.
To avoid paying more than expected, be clear about your needs with the company you’re dealing with. For example, if you’re signing up for marketing services, outline that you only need help with writing email newsletters or setting up social media ads, and nothing else.
Be sure to read the fine print of any vendor contract after you’ve negotiated what service or products you need. Note any terms you may agree to and what they could cost.
Bring up any questions or concerns you have before signing the contract. Otherwise, you may end up agreeing to pay for something you weren’t fully aware of. Also, note any other costs, such as cancellation fees, so you know what you may need to pay if you break the contract.
Unfortunately, unexpected fees may not always be avoided. That’s why it’s critical to monitor your business spending and investigate any changes.
Being proactive means you can work with the company you’re working with to resolve any issues efficiently. You could tell representatives that you weren’t made aware of additional charges, and see if you can get them removed or pay a lower amount.
If you’re responsible for extra charges, a business emergency fund can be handy. Setting aside a buffer means you can easily pay for additional expenses without disrupting your business.
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