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What is ABC Financial Club Charge?

Sarah Edwards | March 23, 2023

Sarah Edwards
Legal Expert
Sarah Edwards, BS

Sarah Edwards is a professional researcher and writer specializing in legal content. An Emerson College alumna, she holds a Bachelor of Science in Communication from the prestigious Boston institution.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

When you find an ABC Financial charge on your bank account ^^

Summary: ABC Financial is a platform that manages members’ monthly gym subscription payments. If you think ABC Financial erroneously charges you membership fees, contact your local gym to rectify the issue. You may also file a complaint on ABC Financial’s BBB profile and wait for a response.

Nowadays, it seems like every company offers a subscription for their services. Whether it’s your favorite music streamer, a gym membership, or a subscription to a news organization, costs add up quickly.

What sounded cheap during the sign-up process can make a hefty dent in your wallet, especially if multiple charges occur on your bank account each month.

Canceling subscriptions you don’t need can save you money. But what happens if you don’t recognize the name of the organization that charges your credit card? Is ABC Financial one of the companies debiting your account each month?

What to know about ABC Financial

ABC Fitness is a software company that helps gyms manage their membership data through various platforms. It helps gyms track their members’ profiles and allows them to book clients for upcoming fitness classes. One of its platforms, ABC Financial, manages members’ monthly gym subscription payments.

Most companies—not just your local gym—use software to manage internal processes and payments. Hundreds of software systems are available to oversee client data and help organizations meet their customers’ needs.

ABC Fitness caters exclusively to gyms. If you’ve recently signed up for a gym membership or your existing gym switched its payment platform to ABC Financial, you’ll probably see a charge from the company for your membership payment.

There would be less confusion if ABC Financial used the gym’s name when debiting your account. However, it doesn’t—and now you’re wondering who ABC Financial is and if you have a bogus charge on your bank account.

Luckily, you can cancel ABC Financial charges. Keep reading to learn how.

Did you receive a collection notice in the mail? Send a Debt Validation Letter to confirm you owe the debt.

How to cancel your ABC Financial charges

Unfortunately, ABC Financial doesn’t oversee your gym membership. It just facilitates the charge. There’s little information about the company on the internet.

Its parent company, ABC Fitness, has an extensive website, but its purpose is to serve the gyms it partners with. You’ll probably need to contact your local gym if you want to cancel your membership.

You can review your bank statement to see if ABC Financial includes a phone number you can contact concerning your membership. If it does, call the number and explain your situation. The representatives should be able to tell you what the charge is for and identify the gym you have a membership with.

If you remember signing up for a gym membership and want to cancel it, visit the gym. Tell them you no longer wish to be a member and ask them to stop charging your account the monthly fee.

Let’s consider an example.

Example: Julie signs up for a gym membership as part of her New Year’s resolutions. After visiting a few times, she finds herself too busy to keep up with a regular routine. When checking her bank statement a few months later, she sees a $39 charge for ABC Financial that she doesn’t recognize. She traces the payments back several months and realizes that they are for her gym membership. She decides the membership isn’t necessary, so she visits her gym and asks to cancel it.

What the BBB says about ABC Financial

ABC Financial has an A+ rating with the Better Business Bureau (BBB) but is not fully accredited. In the past three years, 370 consumers filed complaints against the company.

Unsurprisingly, most clients complain about ongoing charges from ABC Financial despite trying to cancel their memberships with their local gym. In most cases, the gym is the problem, not ABC Financial. The gym representatives say they’ll cancel a client’s membership, but ABC Financial continues to debit their account.

Other clients mention contracts they can’t seem to get out of without paying a significant cancellation penalty. However, that’s typically a problem with the gym’s contract, not ABC Financial’s payment services.

ABC Financial manages gym membership payments

Signing up for a gym membership can be a ticket to better health and fitness if you use it. However, debits from ABC Financial can be confusing, especially if you don’t realize your gym uses the company as a payment processor.

If you think ABC Financial erroneously charges you membership fees, contact your local gym to rectify the issue. You may also file a complaint on ABC Financial’s BBB profile and wait for a response.

Is your local gym suing you for membership dues? Use SoloSettle to settle your obligation.

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