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In this review of Argus Merchant Services, we provide a comprehensive look at their operations, covering rates, fees, contract terms, and feedback from both customers and employees. We examine their payment processing solutions, point-of-sale systems, check processing, cash advance services, and additional tools such as marketing and analytics, with particular focus on security features and customer support. The analysis weighs the pros and cons of working with Argus Merchant Services, while also addressing legal matters involving Visa and MasterCard, lawsuits, fines, and sales tactics. By reviewing both positive and negative customer experiences alongside industry ratings, this article aims to give readers a balanced perspective on the company’s reliability, transparency, and overall fit as a payment processing provider.
About Argus Merchant Services
Argus Homepage
Argus Merchant Services is a merchant account provider based in New York City. Argus Merchant Services claims to serve over 100,000 merchants and is a reseller of First Data (now Fiserv) merchant accounts and products.
Products & Merchant Services
Payment Processing Solutions
Argus Merchant Services provides secure payment processing solutions for businesses, offering options like credit card, debit card, and ACH payments. Their services include security features such as PCI compliance, fraud prevention, and tokenization.
Customer Support
Argus Merchant Services places a strong emphasis on customer support, aiming to simplify the payment processing experience for clients.
POS Solutions
Argus offers a variety of Point-of-Sale (POS) solutions, including traditional POS systems, tablet POS, and virtual terminals. These systems are compatible with both traditional phone lines and high-speed networks.
Check Processing and Cash Advance
The company provides check processing services through multiple channels, including web, phone, POS, and virtual terminals. Additionally, Argus offers cash advance services to support business growth.
Marketing and Analytics
Argus Merchant Services offers marketing services, including website and app development, as well as analytics features to help businesses track transactions and performance.
Gift and Loyalty Cards
The company provides gift and loyalty card services designed to enhance customer loyalty and expand a business’s brand presence.
Customer Reviews & Sentiment
Notable Increase in Customer Complaints
An examination reveals more than 10 negative reviews concerning Argus Merchant Services, with allegations labeling the company as deceptive or fraudulent. Issues frequently highlighted by merchants encompass misrepresented rates, undisclosed fees specific to Argus Merchant Services, prohibitive termination charges, subpar customer support, and erroneous charges post-cancellation. A specific grievance noted an early termination fee as high as $790, although an Argus representative countered, pointing to a $495 fee, which aligns with typical First Data (Fiserv) agreements. Share your insights or experiences with Argus Merchant Services in the comments section below.
Employee Feedback on Argus Merchant Services
Argus Merchant Services garners praise from its past employees, underscoring a potentially positive workplace culture. It’s noteworthy that many reviews, both from merchants and the company’s promotional content, indicate a targeted approach towards Chinese-American and Spanish-speaking merchant communities, with several reviews presented in less fluent English.
Customer Support Infrastructure at Argus Merchant Services
Argus Merchant Services provides customer assistance through telephone and electronic mail.
Industry Scores & User Ratings
Online Ratings Summary
BBB Rating
3.75
Google Maps
3.4
Average Rating
3.57
Argus Merchant Services BBB Rating
Argus Merchant Services is not BBB accredited and has an A+ BBB rating. The company has received an average of 4/5 stars based on 4 customer reviews. However, there are 15 customer complaints closed in the last 3 years, with 4 complaints closed in the last 12 months. Common themes in the complaints include billing and collection issues, with customers expressing dissatisfaction over charges for services not received or used.
Negative Feedback
This company is charging cancellation fee $495.00 plus and Im with them for more than 2 years.When I sign up with them, theyll never let you know until read the very small prints. During the time they also let irs withhold part of my money because they said I dont enough information.Which I never understand they never ask for additional information , instead letting irs withhold my money and I dont even know when I will be getting it back. During this pandemic time we needed money for the business to run. SO PLEASE THINK TWICE BEFORE YOU SIGN UP WITH THIS COMPANY!
Positive Feedback
Very good experice with this company. Rate is good, and customer service is very responsive.Tried cash discount program. Now I don’t need to pay any transaction fees.
Google Maps Rating for Argus Merchant Services
Argus Merchant Services has a 3.4 out of 5 star rating based on 132 user reviews on Google Maps.
Positive Feedback
I dont know why there are many negative reviews. Actually my experience with Argus is pretty good. I called my agent last night around 11pm for terminal issue, she still picked up my calls and resolved it. Will recommend ams to my friend.
Negative Feedback
Customer Service does not answer nor does the cancellation department. I sent my POS system back after I closed my business, but I continue to get charged for almost 5 months. I’ve called customer service, the salesman who sold me the product, and the cancellation department. Either no one picks up or tells me that I have to talk to someone else. I can’t even close my business account at the bank because of this. If you don’t want a headache, choose a different company.
Processing Rates & Fees
Unclear Contract Pricing
Currently, detailed information on the standard Argus Merchant Services rates or contracts is scarce. Available data suggests a 3-year agreement with an automatic renewal for a 2-year term. As a reseller of First Data (Fiserv), Argus’s standard contract terms might mirror those of First Data (Fiserv). Typically, these agreements involve a multi-year contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Rate structures include a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19 for businesses processing up to $50,000 monthly. Those exceeding $50,000 a month benefit from reduced rates. Furthermore, contracts might include non-cancellable, long-term equipment leases through First Data Global Leasing.
Argus Merchant Services may adjust these terms based on a business’ size, type, and processing history. Given the limited information available on the company’s rate and fee structure, businesses should consider the First Data (Fiserv) contract as a reference point.
Virtual Terminal and Payment Gateway Pricing
Alongside its storefront payment processing solutions, Argus Merchant Services actively promotes its virtual terminal and payment gateway services. The pricing for these services, however, remains undisclosed. Common additional charges include gateway fees, technical support fees, batch fees, and higher transaction rates typically associated with e-commerce services.
Contract Complaints
Client complaints against Argus Merchant Services have highlighted issues such as leased terminals with potential penalties for late returns. One specific complaint mentioned an early termination fee exceeding $800, substantially above the industry norm, with other reported termination fees ranging from $495 to $750. Additional grievances include charges of an undisclosed annual fee within the first year and billing issues post-contract termination.
Average Contract Terms
The reported contract terms from Argus do not align with the industry’s most competitive offers, leading to a number of client complaints regarding the company’s contract practices. As a result, Argus Merchant Services receives an average score of “C” in this review. Readers with direct experience related to Argus Merchant Services contracts are encouraged to contribute their insights in the comments section.
For alternatives, consider exploring our list of best merchant accounts offering more favorable terms.
Argus Merchant Services offers comprehensive e-commerce solutions including access to virtual terminals and payment gateways.
Lawsuits & Legal History
In a notable 2017 legal dispute, Argus faced allegations related to the acquisition of trade secrets by a then-current employee from a former employee. The case concluded in favor of Argus with a dismissal.
For those seeking non-litigious means to express dissatisfaction, reporting to relevant oversight bodies is advisable.
Employee Reviews & Sales Practices
Telemarketing and Outside Sales Agents
Argus Merchant Services appears to primarily market itself through telephone appointment setters, ISOs, and independent sales agents. The use of independent sales agents is commonly tied to high complaint rates within the industry, as independent agents tend to receive less training and oversight than in-house, W2-employed sales reps. In this case, Argus Merchant Services is no exception, as there are several Argus Merchant Services complaints that mention the credit card processor’s sales tactics.
We are able to locate a few negative Argus Merchant Services reviews that allege nondisclosure of fees and misrepresentation of rates by the company’s sales team. A number of complaints from former and current employees also admit to persuasive, aggressive sales tactics and over-promising on rates, and one former employee even openly suggests that the company scams its customers.
Some Red Flags
Sales complaints against Argus Merchant Services have been on a steady increase since we first reviewed Argus and could indicate that the company has some new issues with its sales team. The content (more than the quantity) of the available complaints is concerning enough to warrant a “C” grade in this category for the time being. If you suspect that Argus Merchant Services is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden costs.
Argus Merchant Services Competitors
Compare Argus Merchant Services to competitors that earned top marks.
Argus Merchant Services currently ranks as an average credit card processing provider based on available information. The company maintains a relatively low-to-moderate complaint volume online, which is positive. However, there’s a noticeable lack of transparency regarding their pricing structure, making it challenging to ascertain the exact costs involved.
Business owners considering Argus are advised to thoroughly inquire about all potential fees and hidden costs before committing to their services. Additionally, comparing Argus’s pricing and contract terms with those of top-rated merchant account providers is crucial for ensuring a deal that aligns with their needs and provides the most value.
