Bank Transactions Inc. Review


Credit Card Processors
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Category Breakdown
Sales & Marketing rated B
Costs & Contract rated C minus
Complaints & Service rated A minus
BBB Rating rated A

Overall Rating

B rating


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. Peter Sloan is listed as the sales manager for Bank Transactions Inc.

BTI Products and Services Industries Served
  • Debit and credit card processing
  • Check acceptance
  • ACH processing
  • Gift and loyalty programs
  • AVS
  • Retail
  • E-commerce
  • B2B
  • Restaurant
  • Lodging

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Sales & Marketing | B

Key Points – Sales & Marketing
Uses independent resellers? Yes
Promotes deceptive rate quotes? 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 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 One of these complaints has since been retracted.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.

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Costs & Contract | C-

Key Points – Costs & Contract Terms
Swiped rate: Variable
Keyed-in rate: Variable
Termination fee: $299
PCI compliance fee: Variable
Equipment lease: 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

See the Bank Transactions Inc. Program Guide

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Complaints & Service | A-

Key Points – Complaints & Service
Total complaints: <10
Live customer support: Yes
Most common complaint: N/A

As of this update, we are able to locate approximately five 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, 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.

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BBB Report | A*

Key Points – BBB Report
Product/service: 1
Billing/collection: 1
Advertising/sales: 0
Guarantee/warranty: 0
Delivery: 0

As of this review, Bank Transactions Inc. is not an accredited business with the Better Business Bureau. Currently, the company has an “A+” rating with the BBB and has had two complaints filed against it in the last 36 months. One complaint was filed regarding Bank Transactions’ products or services, while the other was related to a billing or collection dispute. Both were successfully resolved through the BBB’s process. Since it is our philosophy that “A+” scores should be reserved for companies with zero complaints, we have slightly adjusted the BBB’s rating to an “A.”

* Denotes CPO-adjusted BBB score

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Bottom Line

Bank Transactions Inc. Review

Rated 3.5 out of 5 Stars
Reviewed by Phillip Parker
Reviewed on 2015-04-10

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 multiple 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.

This review was originally published on 2/7/13 and was last updated on 4/10/15.

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