Agree with our rating?
Leave a comment below
Argus Merchant Services 2023: Reviews & Complaints
Agree with our rating?
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.
Before we dive in, here’s a short summary of what we’ll cover:
- Argus Merchant Services’ various payment processing services.
- The company has received a number of concerning complaints.
- There is little information about the company’s contract, though it probably resembles that of Fiserv. Some complaints from clients mention undesirable fees.
Payment Processing Solutions
Argus Merchant Services offers payment processing solutions that allow businesses to accept payments from their customers securely. The company provides a range of payment processing options, including credit card, debit card, and ACH payments. The payment processing solutions come with robust security features, including PCI compliance, fraud prevention, and tokenization.
The company emphasizes strong customer support and is committed to making the payment processing experience as simple as possible for its clients. They provide dedicated support and claim to be available when needed.
Argus offers a range of Point-of-Sale (POS) solutions, including traditional POS systems, tablet POS, and virtual terminals. These solutions are designed to be compatible with both traditional phone lines and high-speed networks.
Check Processing and Cash Advance
The company also offers check processing services through various channels like web, phone, POS, or virtual terminal. Additionally, they provide cash advance services to help businesses grow.
Marketing and Analytics
Argus offers marketing services, including website and app development. They also provide analytics features that allow businesses to track transactions.
Gift and Loyalty Cards
The company offers gift and loyalty card services aimed at improving customer loyalty and extending a business’s brand.
Location & Ownership
The company is a registered ISO of Wells Fargo Bank, N.A., Walnut Creek, CA. Its headquarters can be found at 40 Exchange Place, Suite 1607, New York, New York 10005. They also list a location at 17700 Castleton Street Suite 458, City of Industry, CA 91748. Jacob Shimon is listed as the president of Argus Merchant Services.
Table of Contents
- Costs & Contract: Appears to offer a standard contract through First Data (Fiserv) with…
- Complaints & Service: Complaints number more than 10 on…
- BBB Rating: Currently has an “A+” rating with the…
- Sales & Marketing: Has received a handful of sales complaints but does not…
Argus Merchant Services Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||10+|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Increasing Complaint Total
We have located over 10 negative Argus Merchant Services reviews, some of which accuse the company of being a scam or a ripoff. Commonly cited problems include misrepresentation of rates, nondisclosure of Argus Merchant Services fees, expensive termination costs, poor customer service, and being charged after canceling the service. One Argus Merchant Services complaint mentions an early termination fee of $790. However, a representative of the company disputes that complaint, citing a fee of $495 that is in line with a typical First Data (Fiserv) contract. If you have your own Argus Merchant Services review to make, please do so in the comments below.
Positive Employee Reviews
To its credit, the company is also showing multiple positive reviews from former employees. It’s worth noting that a good number of reviews about Argus are written in broken English, and that merchant reviews (as well as the company’s marketing materials) suggest that it specifically markets to Chinese-American and Spanish-speaking merchants.
Argus Merchant Services Lawsuits and Fines
In 2017, a lawsuit was filed that dealt with a then-employee of Argus who was alleged by a former employee to be giving trade secrets to Argus. The suit was dismissed in Argus’ favor.
Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Argus Merchant Services Customer Support Options
Argus offers phone and email support to its clients.
Argus Merchant Services Customer Service Numbers
- (888) 459-0660 – Toll-Free General Customer Service
Other Support Options
- Customer service form on its website
- Sales email at [email protected]
However, these channels are not enough to qualify it as a top-rated merchant account provider for customer service.
Argus Merchant Services Online Ratings
Here's How They Rate Online
BBB Rating Analysis for Argus Merchant Services
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 5 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.
Argus Merchant Service started to charge me monthly from 2018 August till 2021 September for their merchant machine and service fee. I did not notice that until my banker told me that they charged me $3,258.45 in all. But I did not receive their POS/Merchant machine. Therefore, I was not able to use their service. After I first contacted them, they blocked my phone number. And then, I tried to use a different number to discuss the refund again, they asked me to contact their agent whose name is *************, and blocked me again. Their agent ************* is also the person I contact to open the account for their merchant service. After I contacted him, he only refunds about $633.10. Since this problem happened years ago, my bank said that were not able to dispute it.- Complaint from December 19, 2022
A female representative from Argus Merchant Services came to my restaurant (****************************) to convince me to switch my credit card processing system to theirs. I was informed by the representative that there was going to be no contract, no early termination fee, no monthly fee, etc. I agreed to do business with them but everything changed after the sales representative assigned to my account left the company. I was assigned a new sales representative to take over my account. The rates that I was being charged started to increase higher and higher. Whenever I tried calling the new sales representative, he was always busy, always rushed me to sum up my questions, or just didn’t bother to pick up the phone. I notified him one month in advance that I would be closing my account and would no longer be doing business with his company. At that time, he told me that there was no early termination fee and I was free to cancel the account anytime. I even returned back the credit card processing machine that was given to us when using their services. But I recently have been receiving phone calls from a debt collector (*********) regarding debts from Argus Merchant Services. The debt collector sent me emails of documents with copies of statements with unpaid fees like an early termination fee, etc. There was no such information about these fees and unpaid dues when I decided to close my account with the company. I do not owe anything to the company or the debt collector. – Review from 12/01/22
I took over a restaurant during the pandemic, together with all the equipments and stayed with the same credit card processor the previous owner used. At first I was skeptical about this company, and was thinking of switching to another merchant service after settling in, because I only talked to their sales rep over the phone for a few times. Now that I’ve been using this company for a while, I can say that they know what they’re doing. The only issue is that they don’t have the terminal I used before, and they told me it’s the supply chain. I wish they could fix this.
– Review from 4/14/22
Argus Merchant Services Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
Unclear Contract Pricing
There is very little specific information available at this time regarding the standard Argus Merchant Services rates or contract. Sparse information conveys a 3-year agreement with an automatic renewal for a 2-year term.
As a reseller of First Data (Fiserv), so its standard contract terms may be similar to those offered by First Data (Fiserv). Its standard agreement is typically a multi-year contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Businesses that process up to $50,000 each month will receive a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Businesses whose monthly charges exceed $50,000 will receive a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19. Another facet of these contracts are non-cancellable, long-term equipment leases through First Data Global Leasing.
Argus Merchant Services does have the freedom to alter these terms depending on a business’ size, business type, and processing history as a reseller of First Data (Fiserv) products. However, with a lack of readily available information on the company’s rate and fee structure, businesses considering its services should refer to the First Data (Fiserv) contract as a point of reference.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Argus Merchant Services also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. However, pricing is not disclosed on either of those services. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
One client complaint filed against the company mentions a leased terminal with a possible penalty for failing to return it on time. Another client reported an early termination fee of over $800, which is much larger than industry averages, and there are also reports of early termination fees of $495, $500, and $750. Still another complainant claims that the company charged an undisclosed annual fee just six months into the contract. Other complaints accuse the company of charging businesses after their contracts had been terminated.
Average Contract Terms
All of these factors suggest that Argus offers contract terms that are not competitive with the cheapest merchant accounts, and the number of client complaints that mention the company’s contract terms lead us to award Argus Merchant Services an average score of “C” in this section. If you have any specific knowledge of the standard Argus Merchant Services contract, please share that information in the comment section of this review.
We also encourage readers to check out our list of the providers of the best merchant accounts.
Argus Merchant Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||No|
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.
This compares favorably to our list of best credit card processors.
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.
Copyright © 2023 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.
Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.