Chip&Pin terminal lease cancellation- Will it still work?

[connersz]

I recently canceled a lease on my credit card terminal because of the cost. They have asked me to return the terminal or face a non-returned fine of £300ish.

The lease has already ended and the terminal is still working. Will it continue to keep working? If so, it would make sense for me to pay the fine because it would soon work out cheaper than paying the monthly rental fees.
I still have a merchant account with my payment provider. The terminal lease is through someone else.

Does anyone have any experience of this?

 

[STDFR33]

You haven’t terminated the lease if you continue to use the service.

Don’t be surprised when they continue to bill you.

 

[connersz]

You haven’t terminated the lease if you continue to use the service.

Don’t be surprised when they continue to bill you.

The lease is just for the hardware. Surely, the only way they're going to know it's still being used is if they contact my payment provided. That's if they even care but I can't see how they can charge me a non-returned terminal fee if they're also going to charge me a lease on it.

Are you speaking from personal experience?

 

[kulture]

The hardware does not belong to you. To continue using it would be at the very least breach of contract if not theft. It will no longer receive software updates, you will likely not be PCI compliant and it is very likely that it will stop working. Of course how quickly this will happen will depend on the relationship between the lease company and your merchant provider.
Its a very bad idea. You have to consider that your merchant provider has YOUR MONEY.

 

[Mr D]

Easy enough to block the terminal that belongs to them.

 

[estwig]

Your in business.......................

Who ties your shoelaces in the morning?