Bancard Payment Systems, Inc (bancardpayment.com), founded in 1987, is a nationwide merchant account provider. It is worth mentioning that Bancard Payment Systems could potentially be confused with another merchant services provider called “Bank Card Systems,” but the two entities are unrelated. The company’s corporate headquarters can be found at 3701 W. Plano Pkwy, Suite #150, Plano, Texas 75075. Bancard Payment Systems is a registered ISO/MSP of BMO Harris Bank, N.A., Chicago, Illinois. Charles Christian is the company’s CEO.
- Sales & Marketing: Bancard Payment Systems does not appear to hire independent resellers and has not received any complaints about its sales practices.
- Costs & Contract: Bancard Payment Systems appears to offer a multi-year contract term with an early termination fee of $395 or more.
- Complaints & Service: Bancard Payment Systems has received fewer than 10 public complaints.
- BBB Rating: Bancard Payment Systems has an “A+” rating with the Better Business Bureau and has received one complaint in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With Bancard Payment Systems
Bancard Payment Systems Products and Services
- Debit and credit card processing
- E-commerce solutions
- Wireless payment acceptance
- Electronic check processing
- POS equipment
- Gift and loyalty programs
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Bancard Payment Systems does not appear to hire outside sales agents or independent resellers to market its services. We cannot locate any Bancard Payment Systems reviews that mention the sales team, which suggests that the company’s representatives do a sufficient job of communicating the terms of the company’s contract.
Bancard Payment Systems also does not appear to engage in any deceptive advertising strategies in its official materials. If you have any experience with the Bancard Payment Systems sales team, please describe that communication in the comment section below.
Costs & Contract
Key Points - Costs & Contract
|Early Termination Fee||$395|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||48 Months, Non-Cancellable|
As of this update, there is almost no available information about the standard Bancard Payment Systems contract. We did locate one complaint filed against the company that mentions a $395 early termination fee, but this fee appears to be selectively applied and may be entirely negotiable. Another complainant states that a Bancard Payment Systems rep signed them up for a long-term equipment lease through Northern Leasing Systems. This complainant mentions a $400 termination fee from Bancard Payment Systems as well as a $1300 termination fee charged by Northern Leasing.
These contract terms alone are enough to suggest that the company charges excessive fees to merchants. We therefore assign Bancard Payment Systems a “B” in this category. If you have any knowledge of the standard Bancard Payment Systems contract, please leave that information in the comment section below.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
As noted above, we have found two negative Bancard Payment Systems reviews, neither of which describes the company as a scam or a ripoff. Both complaints cited unexpected termination fees and poor customer service. The Bancard Payment Systems website states that the company employs an in-house customer support staff, which is a hiring strategy that could be responsible for the low complaint volume. The company’s website lists a dedicated phone number for live support (866-783-7200) and offers two different email forms. This system appears to work well when it comes to resolving any complaints internally before they go public. A representative also stated that Bancard Payment Systems is currently also creating a “Knowledge Base” as an additional self-serve support channel.
Key Points - BBB
|Product & Service Complaints||1|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
Bancard Payment Systems is not an accredited business of the Better Business Bureau and maintains an “A+” rating at this time of review. One complaint has been filed against the company, and this lone complaint has to do with a product or service problem. It either was resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. Given the fact that the company has received only one complaint, we agree with the BBB‘s rating at this time.
About Phillip Parker
Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.Schedule a Consultation with Phillip
Related: Phillip’s Top All-Purpose Merchant Account Picks
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