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.


 

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Permanent link to this article: http://www.cardpaymentoptions.com/credit-card-processors/vantiv/

12 comments

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  1. fazilalieddspa

    Ripoff I tried to cancel this agreement after 9 years and wad help hostage by Mitch Gross. worst company to do business with ..charged my account $700. cancellation fee.

    I am contacting the Better business bureau to get this vulture out of the credit card scam

  2. Ted Keithj

    Vantiv charged us an early termination fee even though we only had a 1 year term and we closed our account after 2 years. We’ll be filing complaints with the FTC and our state AG as well as taking legal action. And their customer service was the worst of any company we’ve ever dealt with. Someone should file a class action against them.

  3. Kris

    DO NOT USE THIS COMPANY. They are a rip off. They have taken money from our account without authorization. The Customer Service pretends like they care, BUT THEY DON’T! I am still fighting to get our money back that they say are credible charges. Oh how I regret ever working with this company.

  4. Susan

    I signed up with 5/3 processing (Vantiv) as a brand new business owner. I had had accounts with 5/3 for years, and had been happy with them, so after being inundated with merchant service providers and not understanding much about it, I signed with someone I thought would be fair. Big mistake. The fees are an average of 2-3 times what many other providers offer. The contract is 3 years, and automatically renews unless sufficient written notice is given–fine, I can do written notice.There is an early termination fee of $295, again, that is fine. I would gladly pay that to get out from under them. But hidden midway through a very lengthy contract is the liquidated damages clause. As I apply this to my own situation, this could run $6000 to $10000, and I am a very small, very new business. This kind of charge would bankrupt me in an instant. So I am on the hook to this company for exorbitant fees for about another year, and see no way out.
    As an additional bonus they required me to lease a terminal for $45 per month for 4 years ($2160). The terminal new would cost about $200.

  5. julea Ingold

    DO NOT DO NOT USE THIS COMPANY…. I have never sign a contract with this company but somehow they worked their way into our system from taking over the previous company that I have used Novus. I have asked with verbal and written confirmation to terminate our contract, even though I don’t have one. It took me a year to finally closed out the contract, but recently they debit and annual due of 89.00 out of my account without my permission. They refused to refund back to my account. Their fees area outrageous!!! Can you guys help to bring this company to justice!!

  6. Danielle Jacques

    Cancelled with them due to massive fees, and then they deducted $250 from my bank account for early termination (after 4 years!). This fee was not mentioned when I signed up and I asked and wrote down every fee that they did admit to, nor was it mentioned when I cancelled. Really scammy.

  7. Jack

    DO NOT USE THIS COMPANY.
    This company is scam. i sat down with the sales representative and discuses about my current credit card processing company how they are charging extra fees and their rates are much higher than theirs’; they promised me that i will save money by signing up with them, so i did. what a biggest mistake i made.

    Right after i sign up the contract, this sales person changed my contract rate that he quoted me without me knowing, i am now paying more fees and higher rate than i have ever did. I call Vantiv about this and they admits the wrong doing and send me the refund. however, a month after the refund of the extra fee, all my rate went up. i call them once more and this time i was told this is want i will be paying. i required to have the contract cancelled, which stated on the contract that i can do so, but i got rejected.

  8. Mona Williams

    Do not do business with this company. They charge excessive fees and when you try to cancel they will charge you a $295.00 early termination fee plus liquidated damages which would be in the thousands according to Virginia a customer service rep. They are also charging us a $500.00 PCI compliance fee that other companies don’t charge along with a $139.50 monthly breach assistance fee per location, this is also a fee no other company seems to have. I was a customer of Fifth Third Bank and mistakenly trusted them when they approached us about using them as our credit card processor (BIG MISTAKE). I spoke with Jason at FTPS and he was little to no help and now he doesn’t even bother to respond to my e-mails. I will be contacting the BBB to file a complaint along with FTC and E-commerce.

    Do yourself a big favor and find another company to do business with Vantiv is the worst.

  9. Ruth B Kaplan

    My experience with Vantiv has not been positive. The sales rep did not disclose a $5 per ticket “pass through” fee that made it prohibitively expensive to use their service. They have twice imposed fees without notifying me and after I have addressed the issue with them. The different departments are isolated from each other, and I have received three different sets of instructions and information about how to close my account. I would not do business with them again, knowing what I know now.

  10. Richard Clos

    Caution; Vantiv fees are excessive, inquire with intuit solutions or any other carrier for better value. Upon discovery of the excessive fees that Vantiv had been charging us, we cancelled with them in writing. 15 days later they continued to access our bank account(without authorization) deducting additional charges for early termination fees. In addition, they charged us another 179.00 for annual fees for the next year that we are’nt using, and refuse to refund even a prorated refund. I would caution anyone from doing business with or allowing access to any accounts with Vantiv as they have shown unlawful and dirty business practices.

    Our lawyer informed us that they lost automatic deduction authorization the minute we cancelled in writing and additional charges should have been invoiced by mail as a final explanation of charges. We are going to start proceedings against Vantiv with our bank, the Federal Trade Commission, and then in court after steps 1 & 2 have been fulfilled .

    Save yourself this trouble and don’t use Vantiv.

    Richard Clos

  11. Jodi Graf

    Poor customer service and long wait times at Vantiv. Disputed a charge I specifically had a confirmation number for my call on in which I was told I wouldn’t be seeing any further charges. Had to call yet again when I did in fact see further charges. Spent over 90 minutes in runaround calls to be told I was wrongfully informed and my fees would not be removed. TERRIBLE COMPANY TO DO BUSINESS WITH!

  12. Trina

    This is a review that was left about our business thanks to Vantivs aweful service…..very frustrating!!!!

    “My dog was happy and they seemed nice enough. She is a runner, and did not get away, so that’s always good.

    I get a bad feeling about their billing practices though. They charged my credit card twice. FIRST time I called them, they said to wait to see if it was a repeat transaction. SECOND time, they said wait 7-10 days, as it was the credit card company’s fault, and it will be refunded. THIRD time, they said 1-3 business days. 2.5 weeks later, I finally have my money back, but who wants to go through all that mess, especially after what was supposed to be a relaxing vacation??

    Bottom line….cash is always better at small businesses, for you and for them.”

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