Eliot Management Group Review

Eliot Management Group Review

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Overview:
In the year 1999, Elliot Management Group came into being. Today it has its headquarters located in Fort Worth Texas with numerous branches spread all overthe country. Elliot Management Group is basically First American Payment Systems’ subsidiary so definitely the name FAPS will appear somewhere on the contract you sign with Elliot Management Group.

Unfortunately, Elliot Management Group has the most negative reviews written against it. Over its life span, the company has successfully gathered quite a number of complaints. Concerning their cancellation fee and terminal lease contracts which are not such a big winner, see the section below written on it.

Due to these setbacks, the company achieves 3 out of 5 for itself.

 

Date Established:
1999.

Location:
Multiple locations. Headquartered in Fort Worth, Texas.

Domain Name(s):
www.e-mg.com

Parent/Partner Company:
Eliot Management Group is owned by First American Payment Systems.

Type:
ISO/MSP.

Acquiring Bank(s) (Acquirer):
Fifth Third Bank.

Payment Processor(s):
First American Payment Systems.

Payment Gateway(s):
Authorize.Net or FirstPay.Net 2.0.

Trust Symbols:
You can find the Eliot Management Group BBB profile here. They have a “C+” rating and 124 complaints as of this update.

Negative Reviews/Complaints:
There are quite a few negative reviews and complaints against EMG. You can find some here and here.

They also have a few Yelp profiles for their different office locations.

Common Complaints:
The common themes found in the complaints against the company are listed below with their descriptions:

Expensive terminal lease contracts through Merimac Capital:

ApparentlyElliot Management Group is a big fan of terminal leases. Terminal leases are the big monsters out there. Encompassing a period of four years, these are pretty tough to get rid and not to mention pricey. With the development in the industry, the idea of getting out of the terminal lease contract on a far lesser rate is not really far fetched. Go for the terminal lease contracts if you belong to a large organization. Smaller ones can buy them when required.

PCI compliance fee:

EMG is charging you $124.74 as PCI Compliance Fees. It is necessary to pay annual PCI compliance fee if you have credit cards processing going on but that does not mean that the processor gets to make their merchants pay for it. It is the processor’s duty, not yours. So try to avoid this and discuss with the company sales rep if possible

Unauthorized debits after account closure:

This is a sad state of affairs because this usually results in the merchant shutting down the account to escape the unnecessary debits.

High number of complaints from former sales reps:

It never indicates a good reputation when the sales representative is writing down the negative feedback against the company. As mentioned before, Elliot Management Group is working with the concept of independent sales agents under their name and then letting them go when the time is appropriate. It shows the inconsistency in the business working practice.These representatives working lack the experience and expertise of handling the contracts and informing the merchant with there is to know.

Verifiable Testimonials/References:
No verifiable testimonials on the EMG website.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc…).

Customer Service:
I haven’t dealt with EMG’s customer service, so it’s difficult for me to make an assessment here. They do offer 24/7 support though. That’s always a plus.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
The Companyextracts money from you as cancellation fees under several different headings such as loss of profit, resulting damages, and expenses produced and so on. In sort, you are paying what they will ask for and with each case there would a different amount to pay as they will see fit. However, it will never be less than $495.

Interchange-Plus Pricing:
Interchange-plus is offered by Eliot Management Group.

Seasonal Downtime:
Seasonal downtime is also offered by EMG.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Mail Order/Telephone Order (MOTO), Wireless, Secur-Chex Check Processing, Gift & Loyalty, EBT.

Product/Service Specialty:
None.

 

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2 Comments

  1. March 5, 2014
    The below document outlines the interaction with Eliot Management Services. The BBB has more than 150 complaints about this company, several websites stating case after case of their unscrupulous practices, yet, they are alive and well scamming businesses throughout the country.
    Vicki Ciplickas
    Small Business Owner Easley SC
    TO BBB 2/18/14

    I phoned the company to straighten out this issue first on January 30th and was told a Supervisor would return my calls. I phoned again on February 5th and February 6th being told that it takes 24-48 hours to complete an investigation. I phoned today, February 18th and was told there are no supervisors to speak to, I must wait 24-48 hours to speak to one. I was also told by the young lady today that they left me a detailed message with one of my employees on February 12th . On February 12 we had one of the worst ice storms in SC History, we were closed and had the answering machine detailing that. There were no messages and I did not receive a call on my mobile phone. The young lady told me today this is a closed issue, we are in a contract period. I will have to pay them to cancel.

    This system is still not functional, is not what we were sold on, were not informed of minimum billing, were offered a free month trial and we have spent close to $400 in equipment. In addition, The BBB has not been effective, so I closed our bank account. Today, our Bank, First Citizens, accepted the charges again, even though my account was closed.
    February 10, 2014
    Dear Sir or Madam:
    Thank you in advance for your co operation with this matter. On February 6, 2014 I requested that our One Touch POS System be returned and our Agreement with Eliot be terminated as Eliot has breached our contract.
    There are several issues with the system. We were “sold” quite a bit of empty promises. Our requirements were that the system was:
    • Easy to use and program
    • Had multiple cash draw capabilities
    • Managed Inventory
    • Was latest in technology, using hand held capabilities
    We were told all of the above was part of the basic system. In addition, we were told that our current set up of wireless router and capability was sufficient to support the system. Since this is a new system, I requested and was granted, ” The First Month Totally Free of Charges” knowing that no system is ever implemented without a learning curve. And since this office had never installed one of these systems before, I didn’t want to pay to be their testing ground.
    We received the system on January 15th. The Salesman, James Glenn, came in and put the system together and registered it. He was to return to train us on how to use the system, and has not returned to do training. He has had no car, no babysitter, no time for us.
    When the system arrived, we were charged $65 for shipping which was not in the contract. We were subsequently told that the printers would need to be hard wired. We spent $200 in cables that evening and had to have my husband run wires through the ceiling, about a 2 hour job. James told us he would reimburse us for the cable. The next day his supervisor came in to re install the kitchen printer which would not work. We were then told that our current router which has an open WiFi system for customer use would not be good enough, we needed another router. We were also told we would be reimbursed for that at a cost of $200.
    The system by the way cannot handle multiple cash drawers, cannot process credit cards table side, and each of the features we were told the system could do, it maybe can, but for an additional fees. Same with the credit card processing which we were told would save us money, but the features I have now do not charge for batching, statements, next day processing. In fact the front of their brochure states “free Statements” yet I have to pay $5 for the statement.
    Last week, I called 1stTouch directly to try and understand exactly what the system could do and because I still hadn’t heard from James and the log in reset every time I tried to access the system. They confirmed that the inventory system I was sold on was beyond the actual capability of the system.
    I phoned James on Thursday January 28 to find out what was going on and to again raise my concerns that so far this system did not do many of the functions we required AND that we were billed by the leasing company $144.69. This was higher than the agreed amount AND was not supposed to happen for a month out. I also, not expecting the charge, bounced two checks ( which I NEVER DO) because of the bank draft from the lease. He told me he would talk with his manager and get back to me.
    On Monday February 3, I called James again, since I had not heard from him to ask him what was going on and I wanted a plan that day.
    This morning I called Daniel, the Sales Manager at Eliot. Went through this entire scenario above AND the fact that we had another charge come up on my bank account for $54 from Eliot directly. We have yet to process a single transaction. He informed me he had no idea that the system was not up and running and that I had to pay them $54 for credit card processing. I asked him to come and pick up the system that we were done. In less than one month we have been billed close to $300 for a system that was to have the first month free, and has yet to be used, programmed or trained on. Plus we have spent close to $400 in additional equipment that we were told we would not need. And he said, NO, we have a contract. A contract is a two way relationship, Eliot has not kept their end.
    I sincerely believe I have been scammed and will pursue this matter in whatever way necessary to return it and recoup my monies. As I told Daniel, when you have been lied to this much, going forward is impossible. My vendors and I are partners, and I will not be stuck in a relationship that has nothing but lies and deceit as a foundation.
    I am requesting this system be returned and my lease agreement severed. I have informed my bank that no further charges will be accepted from either Eliot or The Lease Company.
    Thank you again for your assistance,
    Respectfully, Vicki Ciplickas

    • Hey. My name is Connie. I’m also a small business owner in NC. I signed a contract with Eliot. Had all the same issues as you!
      I was wondering if you could tell me what the final outcome was.? They are suing me because I broke the contract agreement.

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