Banctek Solutions Merchant Services 2023: Reviews & Complaints

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image of a phone image of a phone that changes when your mouse hovers over it (303) 623-3290 View Pricing

Company Overview

Banctek Solutions, a DBA of Zuni Payments LLC, is a merchant account provider that was founded in 2001.

Banctek Payment Processing

Banctek processes all major debit and credit cards for most business types including high-risk. Their services include POS solutions, EMV card readers and swipers, mobile payments, B2B, ACH and e-check processing, virtual terminals, data reporting and analytics, and recurring billing.

Banctek Solutions’ Online Payment Gateway

The company offers an online payment gateway, a feature that enables businesses to process online transactions. By integrating this gateway into their websites, businesses can allow customers to make secure and convenient payments online.

Point of Sale Systems by Banctek Solutions

Banctek Solutions provides Point of Sale (POS) systems, which businesses can use at physical locations to process credit card transactions. The POS systems can handle various tasks, including sales recording, inventory management, and customer management.

Banctek Solutions’ Mobile Payment Processing

Banctek Solutions has mobile payment processing solutions, allowing businesses to accept credit card payments using mobile devices. This service is beneficial for businesses that operate in flexible or mobile environments, such as food trucks, outdoor markets, or home services.

Fraud Protection Service from Banctek Solutions

The company offers a fraud protection service, a measure designed to detect and prevent fraudulent transactions. This service enhances security for businesses and their customers during transactions.

Location & Ownership

The company is also known as Banctek Telesales and is a registered ISO/MSP of Wells Fargo Bank N.A., Concord, California, and Esquire Bank, Jericho, NY. Banctek’s headquarters can be found at 1215 Delaware St, Denver, CO 80204. Trevor Pettennude is the CEO of Banctek Solutions.

Table of Contents

Banctek Solutions Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Item Result
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

Customer Service Complaints

We are only able to locate a handful of negative Banctek Solutions reviews on non-BBB consumer protection websites, but the few we found consistently cite rude or unavailable customer service. These complaints seem to be a product of the company’s use of independent sales agents. A representative of the company directly responded to two of these complaints, and in both cases, the clients expressed irritation with the way the company was addressing their concerns. One complaint filed by a former employee states the following:

During training, I was directly taught and encouraged to “scam” customers. They told me how they offer the best rates, but to tack on every fee imaginable. They told me that if a customer ever mistakenly thinks he owes more money than he does, to find a fee to add to the bill in order to rack up the charge to the mistaken amount. When we got calls from customers complaining about unfair business practices or billing, we are instructed to redirect them to other representatives, to make it look we are trying to help, and never connect to a manager.

If someone continually calls back to complain, we are supposed to hang up the phone. When someone calls to close their account with the company, I was instructed to go through the motions of deleting their account and tell the customer everything was resolved, while never entering any inofrmation into the computer, so they could bill them the next month.

Our own research indicates that Banctek tends to enforce the terms of its contracts regardless of client confusion, which could explain some of the frustration by both parties. If you have your own Banctek Solutions review to make, please do so in the comments below.

Banctek Solutions Lawsuits and Fines

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

Banctek Customer Support Options

Banctek offers a dedicated customer service phone line on its website, but this lone channel is not enough to qualify the company as a top-rated payment processor for customer service.

Banctek Customer Service Numbers

  • (303) 623-3290 – General Customer Support
  • (303) 623-3299 – Fax

Banctek Solutions Online Ratings

Here's How They Rate Online

Online Ratings Summary
Item Result
BBB Reports 0

Low Complaint Total

Banctek Solutions is not an accredited business of the Better Business Bureau but holds an “A+” status at this time of review. It has received 0 complaints in the last 36 months. The company is no longer accredited by the BBB, though it was at the time of a previous update to this review.

An “A” Performance Overall

In light of the company’s complaint total and resolution ratio, we agree with the BBB’s rating at this time.

Banctek Solutions Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Item Result
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.99%
Equipment Leasing Yes

Three Year Contract

According to a sample merchant agreement from the company, the standard Banctek Solutions contract is a three-year agreement with automatic renewal, an early termination fee of $350, an annual fee of $75, a PCI compliance fee of $79.95, a monthly minimum of $25, and a statement fee of $10. The company also appears to sign its merchants up for long-term, non-cancellable equipment leases.

While the sample client on the company’s website refers to a tiered-pricing schedule, the company’s website advertises a flat fee in addition to a monthly fee. One online review references interchange-plus pricing, but it is unclear whether or not Banctek Solutions offers it to merchants.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, BancTek Solutions 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.

Higher-Than-Average Costs

These terms are all slightly more expensive than average for the industry; we therefore assign Banctek a “C” in this category. The company’s pricing does not rank among the cheapest merchant accounts at this time. If you have any knowledge of the standard Banctek Solutions agreement, please leave that information in the comment section below this review.

We also encourage business owners to check out our list of the providers of the best merchant accounts.

Banctek Solutions Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Item Result
Uses Independent Resellers Yes
Telemarketing Yes
Misleading Marketing No
Discloses All Important Terms No

Mixed Sales Approach

Banctek Solutions appears to utilize telemarketing and independent sales agents to market its services. The use of independent sales agents is a common practice among merchant services providers that can often result in a team of agents who are motivated to sign businesses to the most expensive contracts possible. In the case of Banctek Solutions, the use of independent agents seems to be a slight problem, and one 2017 Banctek Solutions review from an employee mentions that management was pretty much “cutthroat” if you did not meet their daily sales quota.

This does not compare favorably to our list of best credit card processors.

Undisclosed Terms

Most Banctek Solutions complaints cite nondisclosure or misrepresentation of terms at the point of signing and unprofessional (bordering on rude) customer service from certain agents. There is also a strange pattern of clients complaining of agents going on extended holidays or leaves of absence while the businesses are trying to get their complaints resolved. The company appears to enforce the terms of its contracts even when clients claim they have been deceived by sales agents. If you suspect that you are being charged undisclosed Banctek Solutions fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Non-Inclusive Pricing

At one point, the Banctek Solutions pricing page advertised “Flat Rates at 1.89%+ and your monthly fee – That’s it!” In the fine print below this quote, the company explains that this rate would only be available to certain types of low-risk, high-volume, card-present businesses and that there are also monthly PCI compliance fees, regulatory fees, and statement fees. In other words, this Banctek Solutions rate quote is not all-inclusive and is not available to a lot of businesses. While this type of rate quoting isn’t necessarily deceptive, it is hard to understand why the company even provides a sample flat rate quote if it customizes its pricing for each merchant. In any case, the overall Banctek Solutions complaint total is very low and none claim that Banctek is a scam or ripoff, which has kept its score at a “B.”

Our Banctek Solutions Review Summary

Our Final Thoughts

Banctek Solutions rates as an average credit card processing provider according to our criteria. The company has a low number of complaints for its size and time in business, but a consistent theme of complaints regarding poor customer service and agent nondisclosure has lowered its rating across several categories. It is also worth noting that the uncommon spelling of the company’s name may result in some confusion with either BankTech, BancTech or BankTek, all of which are real but unrelated companies. Businesses operating in high-risk industries may fare better by instead signing up with a reputable high-risk merchant account provider.

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Your Comments & Reviews

How Did Banctek Solutions Treat You?

4 Responses

  • Lynnette B

    I never had a problem with Banctek until December when my terminal would not work…I called them and they informed me that my machine was obsolete and I would have to shell out $150 for a new one…Everything went down hill from there…They don’t communicate with you, tell you when they are taking money out of your account, they don’t answer the phone during normal business hours, and then they call you up one day and tell you they are dropping you and you have to pay the $695 early termination fee…These guys are worse than Comcast…RUN AWAY!!! RUN AWAY!!!

  • Joe Vaughn

    BancTek has been the absolute worst processor I have ever had. Businesses beware. Their sales make all sorts of promises about rates and equipment, they send you a 100 page contract to review, then nothing turns out to be true and you are stuck. They withheld thousands of dollars from me multiple times with no cause.

    I have had many many headaches with this company. Stay away from BancTek!

    • Todd Youngblood

      Here is our response to the BBB case that he opened as well. It also includes his side of this story.

      01/03/14 to set up a retail processing account for his crossfit gym classes. At the time of underwriting Mr. Vaughn disclosed to Banctek that his business would be taking retail/card present transactions for crossfit classes, supplements and t-shirts. He did not disclose that he would be running his website’s ecommerce business through this processing account. In fact, Mr. Vaughn specifically stated he was running his online business elsewhere. Nor did he specify he would be selling gym equipment.
      There are very different setups for retail/card present versus keyed/ecommerce merchant processing accounts. That said, the pricing provided by the sales agent was going off the fact that Mr. Vaughn stated this was card present business. There are different interchange pricing levels set by the card associations (not Banctek) and due to Mr. Vaughn keying his sales rather than swiping a physical card, this was causing his transactions to downgrade, thus charging him a higher interchange level.
      The terms of the contract Mr. Vaughn signed are clearly outlined and Banctek tried on numerous occasions to reach out to Mr. Vaughn to educate him regarding the need for clear delineation between his retail and online business. Fees, including the early termination fee are clearly outlined on the 2nd page of the contract that he signed. Additionally, Banctek Solutions never held 3,000.00 with no reason given. Again, Mr. Vaughn had stated he was taking payments for crossfit classes and t-shirts with an average ticket of 100.00. On March 28, 2014 Mr. Vaughn ran a $2,470.00 transaction which was well above his approved parameters set by the underwriter at the time the account was reviewed for processing approval. Banctek Solutions does not assume liability or fund AMEX transactions. All Banctek does is process the transactions. When we saw the size of the transaction we asked for an invoice and explanation of the size of the transaction (due to the fact this account had been problematic), however, never held funds. On April 15, 2014 Mr. Vaughn contacted the office asking that we release this aforementioned $2470.00 transaction. It was relayed to him that we never held funds and he would need to contact AMEX for information regarding the funding of this transaction.
      Mr. Vaughn quit processing and on May 13, 2015 Mr. Vaughn emailed a cancellation letter requesting that his account be closed. He was reminded of his 5 year contract term and of the fee associated with breaking this contact. He advised he was aware and that he wanted the account closed.
      From day 1, Mr. Vaughn failed to disclose truthful information regarding his business for Banctek to properly underwrite and set up his account. Banctek Solutions respectfully denies this individual’s request for a refund. Mr. Vaughn processed outside approved bank parameters and broke his contract of his own volition. I have attached emails and Mr. Vaughn’s signed contract to help validate my written outline.
      06/11/2015 ashl EMAIL Forward Business response to Consumer
      06/15/2015 WEB BBB BBB REVIEWS CONSUMER REBUTTAL TO BUSINESS RESPONSE : (The consumer indicated he/she DID NOT accept the response from the business.)
      BancTek’s characterization above is simply disingenuous.
      1.) My revenue comes from group classes, t-shirts, and supplements. I do, however, allow people to register (and pay) for classes on my website. This is how I have always done business and was totally transparent in that fact with your sales team. The sales team said because I wasn’t selling a product over the internet or shipping out merchandise that “it wouldn’t be a problem” It was only after I was pressured into the signing the contract did your underwriting team chime and say I had to open two accounts and jump through all these hoops. On a related note, the credit card information isn’t even captured by my site, but rather my backend software provider. All data is transmitted through their servers, not mine.
      2.) I am not currently, and never have been, in the business of selling fitness equipment. There was, on one occasion, a time where I had an extra machine listed for sale in a local ad. Someone wanted to buy it with a credit card, so I obliged. It would have been reasonable if you had called me asking about the transaction (or declined the card)…. but instead your company decided to hold those funds hostage. It was BancTek that withheld those funds and it was only after I called and raised hell were they finally released.
      It is clear by your response that you will not be doing the right thing here and refunding the termination fee. As I said before, BancTek made it impossible for me to continue to do business with them. They are they absolute worst partner I have ever had…. ever.
      Any businesses out there should google their name and check out rip off sites….. you will be shocked at how much info you find.
      Seriously, don’t use this company.

      06/17/2015 ashl EMAIL Forward Consumer Rebuttal to Business
      06/18/2015 WEB BBB RECEIVED BUSINESS’ REBUTTAL RESPONSE : The processing of Visa or MasterCard credit cards are conducted by sponsored “underwriting” card acquiring banks. This payment processing environment is regulated by rules dictated by the aforementioned card associations of Visa and MasterCard.

      One of the longest held rules is that of both Visa and MasterCard to prohibit the occurrence of “factoring.” This term refers to an approved merchant processing the (credit card) sales of a non-approved business through their merchant services account. By “approved” I am referring to a merchant (whose definition would include the business type, the business in particular, and the owner or principles themselves) that has been evaluated for risk by a particular card acquiring (i.e. payment processing) “underwriting” bank and approved for handling its credit card sales processing. Indeed, your merchant account was factoring when you took payment for exercise equipment (MCC merchant category code 5941) on an account approved for the sale of gym classes (MCC 7997). Please refer to section 6.1.1, page 14 of your Program Guide and the section clearly covers factoring being strictly prohibited.

      Again, let me reiterate, funds were never held by Banctek for the transaction of the gym equipment sale. Your account for accepting AMEX was direct with AMEX. Banctek does not assume liability on or fund AMEX transactions. All Banctek is responsible for is the transmission of data. At the point of funds being held for the aforementioned factored sale, this would have been the risk department at American Express. Again, they would have been concerned seeing a transaction of this nature come through on an account approved for gym classes. Additionally, any risk department at any company would have been concerned at the fact this card-not-present transaction did not have AVS (address verification) or CVV (card verification value) confirmed.

      There are clear rules and regulations set forth by the card associations that all parties, from the merchant level to the acquiring bank/processor level, have to adhere to. Part of the responsibility of being a merchant whom accepts payments via the card associations is being educated on said rules and regulations. I apologize that you are frustrated and upset, however Banctek has standards set forth by Visa/MasterCard that are followed. Perhaps additional knowledge will benefit your business:

  • George Eder

    We have been a Banctek customer since 2008 and have received stellar service from them. As a restaurant we of course are constantly being contacted by credit card processors on a weekly basis. We have compared pricing and the price quotes we received were never enough savings to warrant taking moving to a new credit card company who doesn’t know who we are and the risk of poor customer service. In many years taking credit cards running restaurants I have had a lot of experience dealing with hidden fees and fee structures that constantly changed. Banctek has always been upfront about the fees being charged and our fee structure has never changed. They did have to lower my fees a few years ago when I got a competitive bid but that has been a long time ago.

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