Early termination fees can trap you in a bad relationship with your processor. These fees, often $295-595, are designed to discourage switching. But there are legitimate ways to minimize or avoid them.
Find your original merchant agreement and identify: the ETF amount, contract length, and any conditions for waiver. Some contracts have declining ETFs that reduce over time.
If you're leaving due to service problems (outages, billing errors, rate increases), document everything. Service failures may give you grounds to exit without penalty.
Call and explain why you're leaving. Ask about ETF waiver or reduction. If you're switching to a competitor, your new processor may offer to cover your ETF.
Calculate whether waiting for your contract to end costs less than the ETF. If you have 3 months left and the ETF is $500, it may be cheaper to wait.
| Feature | Clover | CapClover |
|---|---|---|
| Customer Support | ✗ Long hold times, unresponsive | ✓ Your assigned rep's direct line |
| Business Funding | ✗ Limited or no options | ✓ Up to $500,000 |
| Approval Time | ✗ Weeks or denied | ✓ Same-day decisions |
| Hidden Fees | ✗ Frequently reported | ✓ Transparent pricing |
| Contract Terms | ✗ Early termination fees | ✓ Flexible terms |
Get business funding up to $500,000 with your own dedicated rep - this is their direct line, not a call center.