Retriever Payment Systems Overall Rating
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Retriever Payment Systems Overview
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This Retriever Payment Systems (goretriever.com) review is shorter than most reviews because the company is a subsidiary of National Processing Company. Before 2006, Retriever Payment Systems was a privately held merchant services company; however it was bought by Iron Triangle Payment Systems (which also bought National Processing Company) and rebranded it as a subsidiary of National Processing Company.
Retriever Payment Systems was originally founded in 1986 and is headquartered in Waterville, Ohio. This merchant services provider focuses primarily on providing merchant accounts and credit card processing equipment leases, and does not appear to supply other financial services.
Retriever Payment systems has several Better Business Bureau profiles because of offices located in several states, but it shares its main BBB profile with National Payment Processing. As of this review, the BBB is reporting an “A+” rating with 228 complaints filed in the last 36 months.
Retriever Payment Systems is mentioned on about 20 other complaints outside of the BBB. Most of them are attributed to bad agents that mislead merchants by not disclosing fees and other important contract terms during the merchant account set up.
For more information about doing business with Retriever Payment Systems, please see the National Processing Company review.
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8 comments
Renee
April 28, 2012 at 1:54 pm (UTC -7)
I would not recommend this comapny. I haev experienced shady, dishonest business. I have been calling the company to fix problems and fees that i should not have and no one has called me back for about a month now. I have called and left mess at least 5 times. I also am getting charges that i was told i wasnt going to get. They always haev ann excuse of some sort as to why….. I would say go for Square first.
Ron F
April 7, 2012 at 4:28 am (UTC -7)
For all those who have had issues with Retriever or other companies, let me offer some friendly advice:
The low rate they quote is what we in the industry refer to as a “qualified” rate. To get this rate, the card swiped must be a plain vanilla credit card with no rewards attached (and not an American Express) and it must be swiped, not keyed in. If the card has rewards or needs to be keyed because the machine cannot read it, the rate will be an additional 1-3%. These higher rates are called the mid-qualified and non-qualified rates – ask your processor what those rates are for your account, because if your average transaction is more than $20-$30, chances are good people will choose to pay with their rewards cards, rather than a debit or plain credit card that won’t give them anything back. And the more of these types of transactions you process, the farther away from that low quoted rate you will end up.
Also, there is a different kind of pricing called “interchange plus”, where you essentially pay the wholesale rates on transactions that the processing company pays (there is such a thing, and it’s a totally different setup from the 3 or 4 rate system they give you) plus a small mark up, typically anywhere from 0.15% to 0.35% of your processing volume, that goes to the processor. This is what all large corporate accounts use, but if your own processing is more than $10,000 a month, you should have a comparison done
And finally, if any processor offers you a lease on a credit terminal, it’s usually a bad idea. ESPECIALLY if they are telling you that your current machine is out of compliance. Typically the lease will typically be for 4 years, somewhere in the neighborhood of $35-45 a month. At $35 a month, that would be $1,680. By way of reference, unless you’re using a sophisticated point of sale system, you could purchase that same terminal brand new in the box for about $300-$350 and own it from day one. Or many processors will provide you with a free terminal for as long as you process with them. The reason 95% of leases are done is to provide a hefty commission to the selling agent; it’s almost entirely pure profit for him or her and the leasing company.
Darrell
March 21, 2012 at 1:05 pm (UTC -7)
A very likable man visited us and convinced us with some super rates to change our merchant procesing to them. He gave us some really good fee’s .25% per transaction. Just as he was finishing he looked at our machine and said it was out-of compliance and thus would have to be replaced. I knew this wasn’t true beccause we just had it replaced. After he left I checked on the internet and just as suspected it was in compliance.
James Zitzer
March 7, 2012 at 8:49 pm (UTC -7)
I was shocked at Retriever/National Processing Company in that when I canceled my account with them after 10 years, I was slapped with a 250.00 early cancellation fee. I was never told that when I signed up, I was committed to a 3 year contract. After 3 years I have 30 days by which to cancel. After that I was automatically obligated to another 2 years. After that I have 30 days to cancel and then it renews another 2 year contract. I cannot find this contract anywhere in my paperwork. Check on your contract before terminating your service. They will not let you know about it, they will inform you by taking the money right out of your account.
Renee
April 28, 2012 at 1:51 pm (UTC -7)
I am dealing with the same thing. I spoke with a rep a year ago and he said there are NO monthly fees at all. I have been getting monthly fees and also charged for a warranty i never signed up for because i remember opting out of that policy. I have called this rep David for the past month and have left 5 messages and he has not yet responded to me. This is complete dishonesty and not how a business should be ran. He could at least call me back?? I would not recomend them to anyone. I would use square.
Debra Barker
February 22, 2012 at 7:21 am (UTC -7)
I have had Retiever since 2010, an agent came to me and told me they could save me money, after a free analysis, they showed me they could save me a significant amount of money. I should have paid better attetnion, but I never received a statement from them. In Feb 2012 I had to do my online pic complaince and needed help with it, so I called them up on the phone. I mentioned to the person on the phone that I had never received a statement. She looked into it and stated I had not been set up for paper statements or online access to statements. She walked me through it, and I was able to gain access to my online statements. What a surprise I had. I had been getting charged $5.00 a month for paper statements I never received. I asked the woman on the phone, and she stated that yes, I never received statements, but because of the way account was set up, I was being charged for them, nothing could be done about that. Then I noticed fees ranging from $100.00 to $300 a month for Data Omission Fees, When I questioned this I was told that if all information the credit machine asked for wasn’t put into machine I would be charged these fees. I asked her why I had not been notifed of this and was told I was through my statements, I reminded her that I had not been getting any statements and she said yes, I had not received the statements., but they had been generated so therefore I had been notified. I am switching to another company.
Patricia
January 9, 2012 at 7:44 am (UTC -7)
I think your company is a rip off. My company closed August of 2011. Upon calling, faxing, then sending a letter I was charged $174.00 to my bank account Jan. 3. Saying it was for membership fees and security fees. WHICH I was never told about. Everyone plays stupid and says they did not get a cancellation but yet has it documented in their records that I called the first time on September 8, 2011.
Bryan Siegelman
August 15, 2011 at 12:34 pm (UTC -7)
I was very unhappy with Retriever Payment Systems. They had a contract that stated I would receive a certain rate on my credit card transactions. There was some fine print that said it would be slightly more when there was a rewards card or airline card used, but I was assured it was only a little more. It turns it that it was a lot more, close to 4.5% per transaction. There initial calculation showed that I would save about $200 per month on my credit card transactions, but I was actually paying about $400 more that I was before I switched. I cancelled with them and told them that if they charged me the $250 cancellation fee I would be calling the Attorney General of Pa. I was never charged the $250, but I did have to pay $34 a month for 4 years on a lease for a credit card terminal. I figured the $34 per month was better than losing the $400. I would never recommend using them.