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Banctek Solutions Merchant Services 2023: Reviews & Complaints
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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
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
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
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
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%|
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.
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?
|Uses Independent Resellers||Yes|
|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.
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.
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.”
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