Eliot Management Group Customer Reviews
Eliot Management Group Company Overview
Eliot Management Group (EMG), established in 1997 and headquartered in Fort Worth, Texas, is a payment processing company offering services to small and medium-sized businesses across the United States. Operating as a registered Independent Sales Organization (ISO) of Fifth Third Bank, EMG provides a range of payment solutions, including credit and debit card processing, point-of-sale (POS) systems, mobile payments, virtual terminals, and e-commerce integrations. The company offers hardware options such as Clover POS systems and mobile card readers. EMG also provides additional services like gift and loyalty card programs, text message marketing, and merchant cash advances.
EMG’s pricing structure includes interchange-plus rates, with reported fees varying based on transaction volume and method. Standard contracts are typically three years in length and may involve a $495 early termination fee and a $125 annual PCI compliance fee. Customer experiences with EMG are mixed. Some clients appreciate the range of services and support, while others report concerns about contract transparency, customer service responsiveness, and equipment leasing practices. Common complaints include undisclosed fees, difficulties with account cancellations, and challenges in resolving billing issues. In 2022, EMG, along with its parent company First American Payment Systems, agreed to a settlement with the Federal Trade Commission (FTC) over allegations of deceptive sales practices, including misrepresenting contract terms and imposing unauthorized fees. As part of the settlement, EMG agreed to cease such practices and provide $4.9 million in refunds to affected businesses.
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Recent User Reviews
We signed up with them over 3 years ago with 2 established companies. Almost immediately they refused a $20K transaction from our best customer for company number one, who routinely made payments between $10K and $40K. We stayed with our previous provider with that company, but were charged a $50 fee they never refunded!
I was supposed to get a deposit of 1008.23 your people said that I did something at my end and they were just verifying funds. there is no way in hell this happened. I key in all the cc numbers yesterday and then tell me I am at high risk I say bull shit
Our new Bookkeeper did a little internal audit of accounts we pay with an ACH debit from our bank a couple of weeks ago. We found almost 2 full pages of Monthly and Annual credit card fees from this company.
We were having problems with our credit card machine so Mr. Eliot had a brand new one sent to me. We tossed the old one per his instructions.
The earliest charge our bank records show is August 7, 2015 for a charge of $3637.50. The bank records show the last charge posted on the original credit card machine was for $1450.00 posted January 29, 20216. Starting February 02, 2016 thru February 2, 2023 this company has (stolen) withdrawn $6,200.30 in monthly and annual FEES that we did not even know about!
I was told by Eliot that because I had not signed a Merchant Account Closure Request back in 2015, I could not get any of this money back!
I am closing my account with them immediately.
Started off great with these guys as I had a dedicated salesperson. When he left, it was impossible to get anything accomplished with these folks. Fees got higher and higher, some correct, others incorrect. They make you jump through hoops to get anything done. Then you try and cancel. Its easier to launch a rocket ship to Mars then cancel with these folks. Just terrible.
What did you do? My business is barely surviving already and we have been out several hundreds of dollars for equipment that never worked properly. Ond of their technicians said that the components we have are not compatible and this was also confirmed by someone working at my local bank. We were told all sales were final. Now they want the $495 and I don’t have it. They are saying they will sue and I don’t have a leg to stand on. So I am at default of contract because the equipment was not working properly. We couldn’t process most of the time and when it did work could not print a receipt.
STAY AWAY!!
Please be careful and stay away from this Cc processing company.
The sales persones offer a 30 day trial and they sing you for a contract.
I cancelled my service back on December-2019 and they still charging my account stating that I never cancel the service.
I called back on January-4 -2022
To see why they keep changing my account when I haven’t use their terminal for the las 2+ years and they want me to send an email closing my account again and a $495 dollars fine for closing the account.
I called to get a copy of the famous contract sent to my business address and they don’t send me one until I give them my Mo Id, social security number and my personal address.
This company and Their costumer service are a joke and the worse on the market.
This is by far the worst merchant services company I ever used. Our equipment stopped working and technical support wasn’t able to help us. We spent 48 hours without the ability to process payments. We tried working with them, but had to cancel and go to another merchant. Of course, they charged us an early termination fee. They were not willing to work with us in any manner. Stay as far away from this company as possible. I wish I would have don’t more research before going with this horrible company. The good news for me is that I now know that due diligence and reading reviews are very important.
We signed up with them over 3 years ago with 2 established companies. Almost immediately they refused a $20K transaction from our best customer for company number one, who routinely made payments between $10K and $40K. We stayed with our previous provider with that company, but were charged a $50 fee they never refunded!
We agreed to go month to month on the second company, and last month they refused to process a $30K card payment from our second companies best customer! We canceled, and now they are charging us a $495 “Bankcard Close Fee”!
I am so happy I ran across this article! I have been ripped off by merchant processors before so I made quadruple sure the one I signed up for in Nov. 2014 was month to month (Eliot Management Group). I discovered they put a $2k limit on our transactions and then 9 months later discovered we would never qualify for next-day funding due to our industry. I was beyond upset when I called customer service and found that they had locked us into a 3 year contract with a $495 termination fee, despite the paperwork the sales person that put a “$0” next to the early termination fee. I had already began my complaint to BBB and Yelp when I found this article. I used all advice given, submitted all my documentation including the four folks that we referred to them that continue to use their services and voila! We were let out of the contract without the early termination fee. I read through every word of that contract before I signed the dotted line and I thought I was duped again but thanks to you I was able to move on with a processor that fits our businesses needs! This felt so much better then yelling and screaming wasting energy. I would even consider using this company again if they fit our needs in the future. THANK YOU!