Maverick Bankcard Review


Overall Rating Breakdown
Sales & Marketing Tactics
Costs & Contract Terms
Complaints & Service

Maverick Bankcard

"B" Credit Card Processor Rating
Last Updated: May 21, 2014
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Maverick Bankcard Overview

Maverick Bankcard Logo

Maverick Bankcard Logo

Maverick Bankcard (maverickbankcard.com) is a merchant account provider headquartered in Aguora Hills, California. Launched in 2000, Maverick BankCard offers merchants the ability to process debit cards, credit cards, ACH checks, EBT, loyalty cards, and more with a focus on serving high risk business types. Maverick also provides point-of-sale terminals, online e-commerce gateways, recurring billing, fraud detection, mobile payment solutions, cash advances, and high risk merchant accounts. The company is located at 28720 Roadside Drive, Suite 101, Agoura Hills, California 91301.

Multiple online merchant complaints state that Maverick Bankcard and BankCard USA are either the same company or a parent company and its subsidiary, but representatives of both companies have vehemently denied any existing connection between their organizations. The confusion appears to result from the fact that the two companies shared senior management at one time, since the father of a Maverick Bankcard account manager served as the principal at BankCard USA from 2000 to 2011. In addition, the two companies are located within the same building but have different suite numbers.

For the purposes of this review, we will take the company representatives at their word and treat the two companies as separate entities, but merchants should be aware that some kind of connection appears to have existed at one point.

Maverick BankCard Sales & Marketing Tactics | A-

Maverick BankCard appears to partner with independent agents and resellers to market its services, although whether or not these agents are W2-employed is unclear at this time. We are currently able to locate two negative Maverick BankCard reviews that describe nondisclosure of fees or misrepresentation of rates by the company’s sales agents, but these complaints represent a small percentage of the total number of complaints filed against Maverick BankCard. In addition, the company’s official materials do not appear to utilize deceptive advertising strategies.

Maverick BankCard Costs & Contract Terms | B-

Since Maverick BankCard provides high risk merchant accounts to many different kinds of businesses, the company’s contract terms will likely vary greatly depending on a merchant’s size, business type, and time in business. We have located a sample Maverick Bankcard contract through First Data that includes a $195 early termination fee, a $25 monthly minimum fee, a $25 chargeback fee, and a monthly service fee of $10, but it’s unknown whether these costs are standard or even current. The document does not list a PCI Compliance fee, although it’s worth restating that the contract terms provided to each merchant may vary greatly.

Most complaints about Maverick BankCard appear to be related to the company’s fraud prevention policies, which include the right to establish a cash reserve and the right to freeze an account if a transaction appears suspicious. These complaints are common among high risk merchant services providers, as they are necessary to protect a business from fraudulent payments. In this case, however, it does seem as though Maverick BankCard could prevent some of these complaints ahead of time by explaining its fraud prevention policies more clearly to merchants.

Maverick BankCard Complaints & Service | B

We are currently able to locate at least 10 complaints about Maverick BankCard on other consumer protection websites, some of which accuse the company of being a scam or a ripoff. Many of these complaints also mention Bankcard USA. Common themes among complainants include the withholding of funds, poor customer service, difficulty cancelling service, and undisclosed or unauthorized fees. Some of these complaints appear to be the result of merchant misunderstanding, as high risk merchant accounts are generally subject to fund withholding. Overall, this complaint rate is low for the company’s size, but we still encourage any merchant to do careful research before signing up for service through Maverick Bankcard.

Maverick BankCard BBB Report | N/A

Maverick BankCard does not have a profile with the Better Business Bureau (BBB) at this time. We will therefore not factor a BBB rating into the company’s overall score.

Bottom Line

Maverick BankCard rates as a decent processor according to our criteria. The company is showing a fairly low complaint rate at this time, but its contract terms may vary depending on a merchant’s business type and processing history. Merchants should also understand that the information linking the company to BankCard USA may be outdated at this time.

Leave your review of Maverick BankCard in the comment section below:


Maverick Bankcard Review

Rated 3.5 Out of 5 Stars
Reviewed by Phillip Parker
Reviewed on 2014-05-21 14:22:52

UPDATED: May 21, 2014 – We are currently able to locate at least 10 negative reviews about Maverick BankCard on various consumer protection websites, some of which accuse the company of being a scam or a ripoff… Maverick BankCard (maverickbankcard.com) rates as a decent processor according to our criteria… Learn more in this Maverick BankCard review.

 

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About the author

Phillip Parker

Phillip Parker is a former merchant services agent turned small business advocate and the author of "Fee Sweep," which teaches merchants how to dramatically lower their processing rates, eliminate junk fees, and avoid fine-print scams. He founded CardPaymentOptions.com to help merchants enact positive change in the credit card processing industry.



 
Phillip can help you find an ethical and honest processor that will offer you great rates. Click here to request a free provider consultation.

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5 comments

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  1. Corey Kemp

    Maverick was able to have me approved quickly and painlessly, They are available to me 24/7, always very helpful and honest. My customer service rep, not only made me feel like a valued client, he made me feel like he was a long time friend who had my best interest at heart. I look forward to a continued relationship with Maverick.

    Did you find this review helpful? Yes   No

  2. Priscilla Rojas

    Maverick was able to have me approved quickly and painlessly, they are available to me 24/7, always very helpful and honest. Also very friendly! Customer service is awsome!! Thank you Maverick for everything!

    Did you find this review helpful? Yes   No

  3. Shalini Tuscano

    There are always obstacles and hurdles when one starts a new Venture. There are
    many unknown and unforeseen variables and factors. On those occasions, without
    someone to guide and assist you, one tends to get frustrated and give up the whole
    enterprise.

    I am writing this letter to highlight Mr. Jeff Pedigo’s – Account Executive – Maverick
    Bankcard Inc., invaluable help and inputs during our Merchant Application process.

    As a first time business owner there were lots of grey areas that I encountered during
    the application process with other Merchant Providers. They were not always very
    forthcoming in terms of information. Jeff was always one step ahead, in terms of
    knowing what my requirements were and what was suitable for my business plan. He
    was always on the ball and available to provide honest, straight forward information
    and answers to questions.

    A go getter, Jeff never gave up on looking for all possible solutions for my business. As
    a foreign company looking to set up a merchant account within the United States it
    was somewhat of a challenge. Consistent and persistent, ultimately Jeff was successful
    in finding a solution for the company.

    I highly commend Jeff for his outstanding work ethic, professionalism, pro-activeness
    and over all pleasant personality. It was a pleasure to work with Jeff as he instilled a
    sense that I was working with someone I could count on. He is a great asset to your
    organization. I am confident that he will continue to do the good work for a long, long
    time for your organization and act as a great brand ambassador.

    Did you find this review helpful? Yes   No

  4. Allen Morton

    my online business sells numerous natural products for working out and weight loss- i was declined at most processors but maverick got me approved and accepitng cards in 4 days. they really know the high-risk processing world and im paying higher rates but it is definitely worth it!

    Did you find this review helpful? Yes   No

    1. Phillip Parker

      Hi Allen,

      In order to authenticate this testimonial, please reply to this comment with your business URL and contact information. Thanks!

      Did you find this review helpful? Yes   No

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