Bank Transactions Inc. Review


Bank Transactions Inc. ( provides credit card processing solutions and merchant accounts for businesses, financial institutions, government agencies, and sales organizations. The company was launched in 2004 and claims to be a direct Visa and MasterCard processor, but it is actually a reseller of First Data. The company is located at 10855 Sorrento Valley Rd #201, San Diego, California 92121 and is a registered ISO/MSP of Wells Fargo Bank, N.A., in Walnut Creek, California. Mark Bocinski is the only publicly listed employee of Bank Transactions Inc. that we have located.

Key Points

  • Sales & Marketing: Bank Transactions Inc. appears to hire independent sales representatives and has received some complaints about its sales practices.
  • Costs & Contract: Bank Transactions Inc. offers a three-year contract through First Data with an early termination fee of $299.
  • Complaints & Service: Bank Transactions Inc. has received fewer than 10 public complaints.
  • BBB Rating: Bank Transactions Inc. has an “A+” rating with the Better Business Bureau and has received four complaints in the past three years.
  • Rates & Fees: How Merchants Got The Best Rates With Bank Transactions Inc.

Bank Transactions Inc. Products and Services

  • Debit and credit card processing
  • Check acceptance
  • ACH processing
  • Gift and loyalty programs
  • AVS


  • Retail
  • E-commerce
  • B2B
  • Restaurant
  • Lodging

Response from Bank Transactions Inc.

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Sales & Marketing

Key Points - Sales & Marketing

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

Bank Transactions Inc. appears to partner with ISOs and independent agents to market its services. This is a common practice within the merchant services industry that can often lead to an elevated complaint rate for a business. In this case, we are currently able to locate four Bank Transactions Inc. complaints alleging deceit or unprofessional conduct by the company’s sales agents. One of these complaints has since been retracted. Bank Transactions Inc. also claims to be a direct payment processor on its website, but its contract clearly indicates that it relies on First Data for its card processing network. Although it is slightly deceptive, this misrepresentation shouldn’t have too severe of an impact on the service that merchants receive.

Response from Bank Transactions Inc.

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Costs & Contract

Key Points - Costs & Contract

Swiped Rate Variable
Keyed-in Rate Variable
Early Termination Fee $299
PCI Compliance Fee Variable
Equipment Lease Terms Variable

The standard Bank Transactions Inc. contract is available below. According to this document and the company’s program guide (also available below), the company offers a three-year agreement through First Data with an early termination fee of $299. Other fees include a minimum monthly fee of $25, an annual fee of $99, a monthly wireless fee of $25, an eMerchantView access fee of $25, a customer service fee of $12, a monthly statement fee of $10, and a debit access fee of $5. Additionally, the company appears to offer a tiered pricing structure, with rates as low as 1.75% and as high as 3.50% plus $0.13 per transaction. Overall, this degree of transparency is uncommon for a company, but Bank Transaction Inc.’s rates and fees remain slightly less competitive than industry averages. The company also appears to offer an Interchange-plus pricing structure to qualifying merchants. See the Bank Transactions Inc Merchant Agreement and the Bank Transactions Inc. Program Guide.

Response from Bank Transactions Inc.

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Complaints & Service

Key Points - Complaints & Service

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

As of this update, we are able to locate between five and ten Bank Transactions Inc. complaints, several of which accuse the company of being a ripoff or a scam. Common issues among complainants include nondisclosure or misrepresentation of rates and fees, poor customer service, presentation of an agreement as if it were just an application, expensive equipment leases, and unfavorable business conduct with regard to its employees. This is a relatively low complaint volume for a company of its size and time in business, but the persistent pattern of difficulties with deceptive sales tactics has lowered the company’s score in this section. Additionally, it may be possible that some Bank Transactions Inc. complaints have been funneled to the online profiles of the processor that actually provides its services, First Data. Bank Transactions Inc. does not appear to provide support information on its website, which suggests that it outsources this service to First Data.

Response from Bank Transactions Inc.

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Key Points - BBB

Product & Service Complaints 2
Billing & Collection Complaints 2
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

As of this review, Bank Transactions Inc. is not an accredited business with the Better Business Bureau. The company has an “A+” rating with the BBB and has had four complaints filed against it in the last 36 months. Two complaints were filed regarding Bank Transactions’ products or services, while the other two were related to billing or collection disputes. Two were successfully resolved through the BBB’s process, while the other two either were resolved to the dissatisfaction of the merchant or did not receive a final response from the merchant. Given the company’s complaint total and resolution ratio, we agree with the BBB’s rating.

Response from Bank Transactions Inc.

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Bank Transactions Inc. Logo

Bank Transactions Inc. Bottom Line

Bank Transactions Inc. rates as a slightly better-than-average merchant account provider according to our rating criteria. The company does not appear to offer very competitive contract terms through First Data, and several reports of unsavory sales tactics have lowered its overall rating. The company’s rating was improved by its low complaint volume and high BBB score.

Hi, I’m Phillip Parker and I believe that the merchant account industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. I created this website to help you avoid the bad players, save money on fees, and get peace of mind with your merchant account. If you would like to help support my work, check out my cost analysis service. I can evaluate your statement and tell you exactly how much you're overpaying for your merchant account. Get more information here.

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1 Review Leave Your Review Below

  1. I have been trying to cancel my merchant account with Bank Transactions for over 6 weeks. They forward their calls to First Data so you can’t talk to anyone at Bank Transactions. First Data says there is nothing they can do but they can “escalate” it and the only way to cancel your account is through Bank Transactions. What a scam!! I had to call my bank and pay a fee to block Bank Transactions from taking any more fees for an account I am no longer using. There is no way for me to get the fees back that Bank Transactions has taken since I have been trying to cancel my account. I have sent emails, left phone messages, had First Data escalate the issue over and over for weeks. The only call I got from Bank Transactions was to tell me to change my account to secretly charge my customers the merchant account fees so that my fees would be zero. Isn’t that illegal???? Don’t get a merchant account from a company that won’t let you cancel and keeps charging fees.

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