Bancard Payment Systems Overview
Providing Merchant Services Since 1987
Founded in 1987, Bancard Payment Systems 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 2 entities are unrelated. According to the company’s website, Bankcard Payment Systems is an authorized dealer of the POS system TouchBistro.
Headquartered in Texas
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 Fifth Third Bank, Cincinnati, Ohio. Charles Christian is the company’s CEO.
Bancard Payment Systems Review Table of Contents
- 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 no rating with the Better Business Bureau and has received 0 complaints in the past 3 years.
- Sales & Marketing: Bancard Payment Systems does not appear to hire independent resellers and has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Bancard Payment Systems
Products & Services Offered
- Debit and credit card processing
- E-commerce solutions
- Wireless payment acceptance
- Electronic check processing
- POS equipment
- Gift and loyalty programs
Types of Businesses Served
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Bancard Payment Systems Rates, Fees, and Costs
|Swiped Rate||1.00% - 4.99%|
|Keyed-in Rate||1.00% - 4.99%|
|Virtual Terminal Rate||1.00% - 4.99%|
|Payment Gateway Fee||Undisclosed|
|Early Termination Fee||$395 - $1,000+|
|PCI Compliance Fee||Undisclosed|
|POS System Fee||Up To $399|
|Equipment Lease Terms||48 Month (locked)|
Variable Contract Fees
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 Systems.
Additionally, the company’s website advertises its partnership as a credit card processing partner of TouchBistro, a restaurant focused POS solutions provider. TouchBistro provides 4 separate plans with flat monthly pricing, billed annually. Its Solo plan ($69 per month) is intended for use with a single iPad terminal, its Dual plan ($129 per month) allows for two iPad terminals, its Team plan ($249 per month) allows up to five terminals, and its Unlimited plan ($399 per month) allows merchants to use an unlimited number of terminals. The company also offers a free 30-day trial of its software for interested users.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Bancard Payment Systems also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
These complaints are enough to suggest that the company charges excessive fees to merchants and keeps Bancard Payment Systems from making our list of the cheapest merchant accounts. If you have any knowledge of the standard Bancard Payment Systems contract (including any PCI compliance fees or monthly minimum fees), please leave that information in the comment section below.Are you happy with your Bancard Payment Systems fees? Tell us about them before your go!
Bancard Payment Systems Complaints & Customer Reviews
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
As noted above, we have found two Bancard Payment Systems complaints, 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 strategy that could be responsible for its low complaint volume.
Bancard Payment Systems Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Bancard Payment Systems. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Bancard Payment Systems Customer Support Options
Bancard Payment Systems’ website lists a general phone line and email address contact information. Although the company is not currently considered a top-rated payment processor for customer service, its support strategy 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.
Bancard Payment Systems BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||1|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|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.
Clean Complaint Record
Bancard Payment Systems is not an accredited business of the Better Business Bureau and maintains no rating at this time. However, 0 complaints have been filed against the company in the last 36 months. No informal reviews have been left on the company’s profile either.
An “A” Performance Overall
Given the fact that the company has received 0 complaints, we have adjusted the BBB‘s rating to an “A” at this time..
Truth In Marketing & Advertising
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
No Sales Complaints
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. However, if you suspect that Bancard Payment Systems is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden costs.
No Deceptive Advertising
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.
About Phillip Parker
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.