Group ISO Reviews & Complaints
Overview
In this comprehensive article, we delve into the multifaceted operations of Group ISO, a merchant account provider based in Newport Beach, California. We'll explor details of the company's rates and fees, dissecting the impact they could have on your business. Understanding contract terms with Group ISO is crucial, and we provide insights to guide you through their specifics. Common complaints against the company are scrutinized, giving you a clear picture of potential challenges. We also assess industry ratings and employee reviews, offering a rounded view of the company's reputation and workplace environment.
Marketing tactics employed by Group ISO are evaluated, shedding light on how they impact consumers and businesses alike. We then examine user reviews to understand real customer experiences. A section dedicated to Group ISO's payment processing capabilities highlights their extensive range of services, including EMV card readers, POS systems, and e-commerce solutions. We investigate the company's history, ownership, and its potential connections with other entities in the industry.
A balanced view of the pros and cons of partnering with Group ISO is provided, helping you weigh their services against your business needs. Importantly, we address the recent Visa & MasterCard lawsuit settlement and how it affects merchants. Group ISO's approach to customer support is critiqued, along with a detailed look at their processing cost experiments. Lastly, we give an overview of Group ISO's online ratings and legal history, including their approach to handling high-risk clients and fund-hold issues. Our analysis culminates in a verdict on whether Group ISO stands as a worthy choice for your business's credit card processing needs.
About Group ISO
Group ISO is a merchant account provider headquartered in Newport Beach, California. The company is a reseller of Merrick Bank‘s merchant services.
Group ISO Payment Processing
Group ISO processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, mobile solutions, access to virtual terminals, other e-commerce solutions, recurring billing, Level 2 and 3 processing, and EBT and NFC payments.
Location & Ownership
Founded in 2001, Group ISO is a registered ISO of Commercial Bank of California, Irvine, CA, and is headquartered at 20062 SW Birch St. #300, Newport Beach, CA 92660. Mike Segura is listed as the CEO and co-founder of Group ISO. Group ISO is mentioned in complaints that have been filed against a Canoga Park, California-based company called American Verification Processing Solutions (AVPS). The CEO of AVPS is Tiffany Segura. At this time, the relationship between Group ISO and AVPS (and the relationship between Mike Segura and Tiffany Segura) is unclear. However, there is some evidence that the two companies may be linked.
Pros: | Cons: |
---|---|
In-house services | Cancellation penalties |
Tailored solutions | Monthly fees |
PCI-compliant | Variable rates |
Competitive rates | Equipment leasing |
24/7 support | Fund-hold issues |
Group ISO Customer Reviews
Here's What Their Clients Say
Total Online Complaints | 15+ |
---|---|
Live Customer Support | Yes |
Most Common Complaint | Fund-Holds |
Recent Lawsuits | No |
Low-Moderate Complaint Volume
Our search has revealed over 15 Group ISO reviews, with some labeling the company as a ripoff or a scam. Common complaints include fund-holds during service and after termination, rate increases, and abrupt account cancellations. Many of these complaints seem to originate from high-risk business types who may not have fully grasped Group ISO’s reserve account policy. While this doesn’t constitute a breach of contract or unethical behavior by Group ISO, improved merchant education on the cash reserve policy could potentially mitigate some of these grievances. If you have your own Group ISO review to share, please feel free to do so in the comments below.
Group ISO Lawsuits and Fines
No outstanding class-action lawsuits or FTC complaints have been found against Group ISO. Dissatisfied clients seeking non-litigious resolutions with the company are advised to consider reporting their concerns to the relevant supervisory organizations.
Group ISO Customer Support Options
The Group ISO website provides a dedicated phone number and an email contact form for merchant support, though it is not currently regarded as a top-rated payment processor for customer service.
Group ISO Customer Service Numbers
- (800) 960-0135 – Client Support
- (800) 722-4476 – Sales
- (800) 960-0135 – Agent Support
Group ISO Online Ratings
Here's How They Rate Online
BBB Reports | 1 |
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One BBB Complaint
Group ISO has been an accredited business with the Better Business Bureau since 2009. As of this review, the company is showing an “A+” rating. Group ISO has received just 1 complaint to its BBB profile in the past 36 months. This complaint was resolved to the dissatisfaction of the client or received no final communication.
An “A” Performance Overall
The company is also not showing any informal reviews on its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB. Given this information, we agree with the BBB’s rating.
Group ISO Fees, Rates & Costs
A Closer Look at The Contract
Cancellation Penalties | Yes |
---|---|
Monthly & Annual Fees | Yes |
Processing Rates | 1.00% - 4.99% |
Equipment Leasing | Yes |
Group ISO Contract Terms
The standard Group ISO merchant application and program guide outline a three-year agreement with First Data (now Fiserv), involving a $300 early termination fee, a $25 monthly minimum fee, a $0.20 batch fee, a $25 chargeback fee, and a $10 monthly statement fee. Although a company representative suggests the potential waiver of the early termination fee, the contract typically remains three years. Moreover, Group ISO’s rates don’t incorporate a PCI compliance fee, and the monthly fee is negotiable based on business volume. While standard terms may vary, it’s advisable for business owners to negotiate for favorable conditions. Group ISO recently transitioned from First Data (Fiserv) to Merrick Bank as its primary backend processor, which might affect standard pricing and fees.
Virtual Terminal and Payment Gateway Pricing
In addition to storefront payment processing, Group ISO promotes its virtual terminal and payment gateway services on its website. However, specific pricing for these services isn’t disclosed. Generally, additional rates and fees, including gateway fees, technical support fees, batch fees, and transaction rates, apply to e-commerce services.
Level 2 and Level 3 Processing Services
Group ISO offers Level 2 and Level 3 processing for B2B and B2G transactions, relying on different interchange rates than consumer credit transactions. These services require specialized payment processing technology to transmit the necessary data for such transactions, catering to corporate credit card usage in B2B and B2G transactions.
Fund-Hold Issues
Online complaints regarding Group ISO mainly revolve around fund-hold concerns. While not prominently advertised, Group ISO extends services to high-risk and offshore merchant accounts, prone to chargebacks and fraud. Consequently, establishing a cash reserve by the processor is customary. However, Group ISO sometimes fails to adequately inform clients about reserve account establishment, leading to misunderstandings and dissatisfaction.
High-Risk Client Expectations
Group ISO exercises discretion in determining whether to establish large reserve accounts for high-risk clients, a common practice in the industry. Businesses operating in high-risk sectors should anticipate fund withholding under certain circumstances. In such cases, businesses may benefit from partnering with a reputable high-risk merchant account provider.
Check Out the Best Merchant Services
We encourage business owners to explore our curated list of the best merchant services to make informed decisions for their businesses.
Group ISO Employee Reviews & Sales Tacitcs
Should You Work For Them?
Uses Independent Resellers | Yes |
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Telemarketing | Possible |
Misleading Marketing | No |
Discloses All Important Terms | No |
Independent Sales Agents
Group ISO advertises that it employs a network of independent sales agents to market its services. A central tenet of the company’s mission statement appears to be its dedication to providing adequate training and support for its independent agents, which suggests that Group ISO may avoid many of the problems that generally accompany this hiring practice.
This compares favorably to our list of best credit card processors.
Sales Complaints
We are currently able to locate a handful of Group ISO reviews that describe sudden rate increases above the figures initially quoted, but this does not appear to be a major problem for the company. Overall, people are not accusing Group ISO agents of unethical sales practices, and the company does not appear to engage in deceptive advertising in its official materials. Still, if you suspect that Group ISO rates are not as advertised or they are charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.
Our Group ISO Review Summary
Our Final Thoughts
Group ISO rates as a somewhat worse-than-average credit card processing provider according to our rating criteria. The company has a moderate complaint volume for its size, but it appears to offer serviceable customer support and a well-trained sales staff. The major factors reducing Group ISO’s grade at this time are its contract terms and complaints of fund-holding, although maintaining a clean BBB profile may help improve the company’s overall rating over time. For now, business owners are advised to compare the company’s pricing to top-rated merchant account providers to get the best deal.
If you found this article helpful, please share it!
Sam Ilaian
I had this company for my courier company for years. their rates are high. I closed the account but still got charged $195 because they require 30 days notice. After I gave them notice in writing they still Charge me. It takes them months to cancel the account, they keep withdrawing the fees even after the cancelation. I would not recommend them to anyone. I’m glad to be out of it.
This post will help: Best-Rated Merchant Account Providers
– Phillip
Petr Sorma
Rosalyn with Group ISO is the real deal! I am thankful to have found someone with her knowledge and experience.
Thanks Rosalyn!
-Petr
Client Protection Group LLC