Bambora Overview

Bambora May Have Overcharged You

If you accepted credit cards through Bambora or any other credit card processing company between 2017 and 2019, recent changes to the law may entitle you to refunds of certain debit card and credit card processing errors and overcharges. See this post to find out if your were among the businesses affected and to learn how you can get your money back.

Formerly Beanstream

Bambora is a merchant account provider based in British Columbia, Canada, that specializes in online payment processing. Originally known as Beanstream, the company was acquired in October 2015 and rebranded to Bambora sometime in 2017. In July 2017, Ingenico acquired Bambora. Bambora provides U.S., Canadian, and UK merchant accounts.

Bambora Location and Ownership

Bambora is a registered ISO/MSP of Wells Fargo Bank’s Canadian branch in Toronto, Ontario, and has offices located at #200-1803 Douglas Street, #302, Victoria, BC V8T 4M1. Johan Tjärnberg is the CEO of Bambora.

Bambora Review Table of Contents

  • Costs & Contract: Bambora offers a month-to-month contract with flat-rate pricing and no early termination fee.
  • Complaints & Service: Bambora has received fewer than 10 public complaints.
  • BBB Rating: Bambora has an “A+” rating and has received 2 complaints in the past 3 years. The company has been accredited by the Better Business Bureau since 2017.
  • Sales & Marketing: Bambora does not hire independent sales representatives and has not received some complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Bambora
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Products & Services Offered

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce
  • International
  • Subscription

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Bambora Rates, Fees, and Costs

Key Points

U.S. Rate 2.9% + $0.30
Canada Rate 2.8% + $0.30
Bambora Ready Setup Fee $49
Bambora Ready Monthly Fee $25
Chargeback Fee $20
Early Termination Fee $0
Equipment Lease Cost $0

Month-to-Month Contract

Bambora advertises month-to-month agreements through TD Bank with no early termination fees, statement fees, or monthly minimum fees, and these claims appear to be consistent with its merchant agreement, found in part below.

Bambora Pricing Plans

Bambora offers two pricing plans for merchants to choose from: “Bambora Ready” and “Bambora Advance.” Bambora Ready is intended for most small to mid-size e-commerce merchants that do not require subscription billing and charges a $49 setup fee, a $25 monthly fee, and a per-transaction fee of 2.9% plus $0.30 (2.8% plus $0.30 in Canada). Bambora Advance is intended for large and enterprise-scale businesses that require advanced fraud protection and charges a custom monthly fee with interchange-plus per-transaction rates. Both plans also charge $20 per chargeback.

Industry-Standard Pricing

We are currently unable to locate any mentions of a PCI Compliance fee in the company’s standard contract. Overall, these terms aren’t too far behind the cheapest merchant account providers, and the company’s use of flat rate and interchange-plus pricing reduces the risk of misleading rate quotes by Bambora representatives.

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Response from Bambora

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Bambora Complaints & Customer Reviews

Key Points

Total Online Complaints <10
Live Customer Support No
Most Common Complaint N/A

Under 10 Complaints

We are currently able to locate only 2 negative Bambora reviews, which is a good indication that the company isn’t a ripoff or a scam. We have also found roughly seven Beanstream complaints, but these may not be applicable following the company’s restructuring. The Beanstream complaints cite unexpected fees, fund holds, poor customer service, poorly designed software, excessive paperwork, and insufficient fraud prevention measures extended to UK merchants. The Bambora fees describe poor support and difficulty signing up for service. Bambora is a rapidly growing company that operates a number of international payment services, so we would expect it to have more complaints than it does.

Bambora Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Bambora. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Bambora Customer Support Options

Overall, Bambora’s very low complaint total indicates a responsive and available customer support team. However, the company’s website does not list a dedicated phone line for customer support. We are therefore inclined to award the company an “A” in this category with the caveat that users may only have access to an FAQ section, a knowledge base, or an email ticketing support system.

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Response from Bambora

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Bambora BBB Rating Summary

Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 1
Advertising & Sales Complaints 1
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Under 10 Complaints

Bambora has been an accredited business with the Better Business Bureau since November 2017. As of this review, the company holds an “A+” rating with the BBB and has had 2 complaints filed against it. 1 had to do with billing and collection while 1 had to do with advertising or sales. Both complaints were resolved to the merchant’s dissatisfaction or did not receive a final response from the merchant.

An “A” Performance

Given the company’s low complaint total, we agree with the BBB’s rating at this time.

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Response from Bambora

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms Yes

In-House Sales Team

Bambora appears to primarily market itself through its website and through various referral partnerships. There is no evidence at this time that the company hires independently contracted sales agents, and we are unable to locate any negative Bambora reviews that mention the company’s sales team.

No Deceptive Quotes

The Bambora website quotes a flat rate of 2.9% plus $0.30 (2.8% plus $0.30 in Canada) for all transaction types, and there is no indication at this time that this rate quote is misleading. If you suspect that Bambora is overcharging you, then you can double-check your monthly bill with a third-party statement audit.

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Response from Bambora

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Bambora Marketing Example

Bambora Logo

Our Opinion of Bambora

A Solid International E-Commerce Provider

Bambora rates as a reliable merchant services provider according to our standards. The company is showing very few complaints online and appears to offer competitive pricing options for both Canadian and U.S. merchants. Even when dealing with highly rated credit card processors, merchants are advised to carefully read any contract they are given and to compare the company’s pricing to top-rated e-commerce payment processors.

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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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3 Reviews Leave Your Review for Bambora Below

  1. Apiajg says:

    They have a very slow and poor support system, that nobody can afford, as leads to many losses in Ecommerce Industry.

    From The Editor
    This Post Might Help: Best Merchant Accounts for Great Customer Service

  2. Laurel says:

    I wasn’t even able to get enough information to be able to be a customer.

    I emailed in, was immediately given a barrage of questions. I responded asking how to does it cost.

    Was told they could not tell me, util I answered all their questions. Did that, got another email, responded only to find out I wasn’t talking to the right department.

    Next person couldn’t tell me how it worked with Sage.

    When I asked to speak to a manager, they were condescending, kept cutting me off and kept playing pass the buck.

    Hey Bambora, Have the manager that calls people that are frustrated back take a course in LISTENING. In not cutting people off. And NOT acting like a child when I do the same to him.

    FIGURE out what it looks like to use YOUR system with SAGE. Do not make your customers do the work. If you want our business then YOU should be the expert. Stop telling me ‘its not my job, my responsibility’. Business 101, if you want the sale, then know your product. Business 101, LISTEN to your customer. Business 101 Do Not act like you are the one complaining to your customer.

    1. Sherri says:

      They hold the money for 4-5 days instead of the common practice of next day or two day deposits into the sellers account. They take their overpriced fee of 3.5% at EVERY transaction (plus a .20¢ per transaction fee) instead of waiting until the end of the month and taking a lump sum amount… which gives THEM the use of our money for longer, and making for an accounting difficulty to the seller (at least if you use Sage) as there is no way to insert a “per transaction fee” along with the percentage they take, on credit card transactions. Worst Credit card processing company I’ve had to deal with in my 30 years of experience. Although the support guy was pleasant to me…. (I never made a stink though)… I’m just stuck with them if I want to do the job I have. But, if I was the decision maker I would Never choose them due to the overpriced fees, accounting nightmare for the bookkeeper, and how long they keep our money

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