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AmeriBanc National Review
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UPDATE 1/17/2019: The AmeriBanc National website has been down since at least November 2018. We have not seen any evidence that the company has ceased operations, and public complaints have been filed against it within the past three months. We will not update this review at this time, but merchants should be aware that the company could be winding down its operations.
AmeriBanc National (ameribancsales.net) is a merchant account provider based in Wheaton, Illinois. Founded in 2004, the company appears to be a reseller of Total Merchant Services, which is itself a reseller of Global Payments. AmeriBanc National is located at 2150 Manchester Rd. #100 Wheaton, Illinois 60187, and the company is a registered ISO/MSP of HSBC Bank USA, National Association, Buffalo, New York. Chris McIntire is listed as the president of AmeriBanc National, while Dan Lewis is listed as the company’s CEO.
- Sales & Marketing: AmeriBanc National appears to hire independently contracted sales agents and has received a significant number of complaints from former employees.
- Costs & Contract: AmeriBanc National appears to offer a month-to-month contract with no early termination fee, but some merchant reports dispute the available documentation and statements from company reps.
- Complaints & Service: AmeriBanc National has received more than 40 public complaints.
- BBB Rating: AmeriBanc National has an “A+” rating with the Better Business Bureau and has received 15 complaints in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With AmeriBanc National
AmeriBanc National Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||40+|
|Live Customer Support||Yes|
|Most Common Complaint||Hidden Fees|
As of this review, we are able to locate over 40 AmeriBanc complaints, several of which accuse the company of being a ripoff or a scam. As noted above, many of these complaints have been filed by the company’s former employees, and a good portion of these have received rebuttals from current and former AmeriBanc sales agents. At this time, it is difficult to determine the veracity of most of the specific claims made by agents, but the persistent pattern of agent complaints is enough to indicate that there is some sort of problem with this department. Among the company’s merchant complaints, the prevailing themes are misrepresentation and nondisclosure by agents as well as aggressive and impolite telemarketing practices. Overall, this complaint rate is moderate for the company’s size and time in business; we are therefore assigning the company a “B” in this category.
AmeriBanc National Online Ratings
Here's How They Rate Online
|Product & Service Complaints||5|
|Billing & Collection Complaints||2|
|Advertising & Sales Complaints||7|
|Guarantee & Warranty Complaints||0|
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
AmeriBanc National has been an accredited business of the Better Business Bureau since 2006, and the company is currently showing a “A+” rating based on 15 complaints filed in the last three years. Of these complaints, seven are related to advertising or sales issues, five are due to problems with the product or service, two are related to billing and collection, and one is related to a delivery issue. Eight complaints have been resolved with BBB assistance, while the remaining seven either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. In this case, we disagree with the BBB’s rating due to the company’s complaint total and resolution ratio. We have therefore adjusted it to a “B” according to our own rating criteria.
AmeriBanc National Fees, Rates & Costs
A Closer Look at The Contract
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
According to one sample AmeriBanc merchant agreement (available below), the standard AmeriBanc contract signs the merchant up for month-to-month processing through Global Payments with no termination fee upon cancellation. Most merchant complaints about the company, however, tell a different story. These complaints suggest that the company’s standard contract is actually a three-year agreement with automatic renewal and a cancellation fee of $195 or more. This termination fee may actually be related to the return of equipment upon cancellation. Additional reported figures include a $25 monthly minimum, a $99 annual PCI compliance fee, a statement fee of approximately $8, and variable monthly equipment costs. A company representative has contacted us to say that AmeriBanc National offers month-to-month agreements, does not lease equipment, does not charge termination fees, and can offer tiered pricing or interchange-plus pricing.
We are currently inclined to believe multiple merchant reports over the one document we found or the word of a company representative. For what it’s worth, the linked document does indicate that the company is potentially capable of offering a competitive contract with Global Payments. Merchants should therefore plan to negotiate aggressively for optimal pricing. If you have any concrete knowledge of this company’s standard contract, please leave that information in the comment section of this review. See the AmeriBanc National Merchant Agreement.
AmeriBanc National Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
AmeriBanc appears to primarily market its services through the use of telemarketing and independent sales agents. As a general rule within the industry, independent sales agents are poorly trained and receive little oversight. The merchant and employee complaints that we have found suggest that this may also be the case with AmeriBanc’s independent sales team. We are currently able to locate multiple negative AmeriBanc National reviews in which merchants describe high pressure tactics, misrepresentation, and nondisclosure by agents, but there are also complaints filed against the company by its former “independent marketing consultants.” Most of these former sales employees describe a workplace with inadequate training, bad leads, and little support, and some complainants allege that poor service by the company led to cancellation, which wiped out their residuals.
Additionally, there are numerous complaints on telemarketing forums about incessant and impolite calls from AmeriBanc’s appointment setters. This pattern does not reflect positively on the corporate culture at AmeriBanc National, and it also seems to be translating into negative merchant experiences in some cases.
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