I received a letter from my merchant account company stating that to
ensure my customer’s credit card security “The card associations
require businesses accepting card-based payments comply with the
Payment Card Industry Data Security Standards (PCI DSS) and to use
compliant or approved software and hardware.” They go on to say that
I have to pay them $119 per year to remain compliant (I don’t seem
to get anything for this, just compliance). They further say that if
my validation documentation is not on their books by August 1st,
they will fine me $20 per month until I validate and pay the $119.
No mention of government regulations or specific recent legislation
or laws, they reference only “the card associations”. They further
give me no option, the fee will be deducted from my account on July
1st (it seems they have already “paid” this fee for me and are only
reimbursing themselves). The extra $20 a month is if I don’t fill in
their questionnaire (which looks more like a data mining study of my
business for them to sell to other businesses than
anything having to do with my customers’ credit card security)
After I weighed in on a merchant account question on a previous
thread and found that I was being hoodwinked by my previous account
holder concerning the requirement to lease or buy their equipment
versus owning my own, I wonder if I am once again being taken as a
novice about such matters (I am a novice about these things, so it’s
not like they are mistaken about that or anything). This is very
similar to the letters I got requiring me to use their equipment,
although it was a different company.
Anybody else being threatened with fees for not paying other fees
for compliance with I’m not sure what? It sounds to me like I’m once
again being setup to have buy or lease their "new and approved"
machine and also to PAY MONEY for the privilege of being on one of
their for-sale customer lists.
Thanks for any help.