Bankcard Brokers Merchant Services 2023: Reviews & Complaints
Founded in 2007, Bankcard Brokers is a merchant account provider that specializes in serving high-risk business types. The company was once partnered with a high-risk payment processor called Guardian Data Systems, but the two companies are no longer affiliated. Bankcard Brokers is one of a small number of payment processors that can service cannabis, CBD, and hemp merchants.
Before we dive in, here’s a short summary of what we’ll cover:
- Bankcard Brokers’ various payment processing services.
- There is little information available about the company’s contract.
- The company serves high-risk businesses.
Bankcard Brokers Payment Processing
Bankcard Brokers processes all major debit and credit cards for most business types but specializes in high-risk businesses. Their services include credit card terminals, POS systems, mobile solutions, contactless pay, access to payment gateways, and fraud and chargeback protection. The company also advertises services that help its merchants set up virtual terminals, support Apple Pay, and accept Bitcoin payments as well as a zero-fee processing program.
Location & Ownership
The company is likely partnered with multiple acquiring banks in order to serve its diverse merchant base. Brett Taylor is the founder and CEO of Bankcard Brokers, which is headquartered at 300 W 15th St #301, Vancouver, Washington 98660.
Table of Contents
- Costs & Contract: Appears to offer variable contract terms that will depend on…
- Complaints & Service: Has received fewer than…
- BBB Rating: The company has been accredited by the Better Business Bureau since…
- Sales & Marketing: Appears to hire independent sales representatives but has not…
Bankcard Brokers Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
No Client Complaints
We are unable to locate any negative Bankcard Brokers reviews, and there is no evidence to suggest that the company is a scam or a ripoff. This clean complaint record is admirable for a credit card processor that has been in operation since 2007, and it’s doubly so considering that Bankcard Brokers focuses on high-risk industries. If you have your own Bankcard Brokers review to make, please do so in the comments below.
Bankcard Brokers Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Bankcard Brokers. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Bankcard Brokers Customer Support Options
High-risk merchant account providers tend to attract complaints related to account closures, chargeback fees, or underwriting issues, but Bankcard Brokers has avoided that type of feedback thus far. We will therefore assign it an “A” rating in this category.
Bankcard Brokers Customer Service Number
- 1-877-227-2111 – General Support
Other Support Options
- Customer service form
It’s unclear whether these lines are directly connected to customer support reps. Therefore, we’re unable to include the company in our list of top-rated credit card processors for customer service.
Bankcard Brokers Online Ratings
Here's How They Rate Online
Online Ratings Summary
No BBB Complaints
Bankcard Brokers currently has an “A+” rating with the Better Business Bureau and has been BBB-accredited since February 2013. The company has had 0 complaints to this profile in the past 36 months. It also has not received any informal reviews on its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB.
An “A” Performance
In light of Bankcard Brokers’ clean complaint record, we agree with the BBB’s rating. Readers should be aware, however, that there is reason to be skeptical of the BBB’s rating system.
Bankcard Brokers Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%|
No Contract Complaints
There is very little publicly available information about the standard Bankcard Brokers contract at this time. The company does not disclose its pricing or contract terms on its website, and there are no client complaints that mention specific rates or fees. Due to the company’s focus on high-risk industries, it is highly likely that its contract terms will vary depending on each client’s business type, time in business, sales volume, and processing history.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Bankcard Brokers also dedicates a portion of its website to advertising its virtual terminal and payment gateway services through Authorize.Net. Under the terms of a standard Authorize.Net contract, businsses are charged a rate of 2.90% plus $0.30, a $25 monthly gateway fee, and a $0.15 batch fee. However, as a reseller of the company, Bankcard Brokers reserves the right to alter the terms and conditions of these agreements, which may result in lower rates and fees.
High-Risk Merchant Fees
As a general rule, high-risk business owners should expect to pay higher-than-average per-transaction fees and may encounter cash reserve or rolling reserve policies. These costs and limitations are standard due to the high-risk sector’s elevated risk of chargebacks. Therefore, clients should not expect Bankcard Brokers’ contract terms to be competitive with the cheapest merchant accounts. If you have any specific knowledge of the standard Bankcard Brokers merchant agreement (including any early termination fees or PCI compliance fees), please share that information in the comment section below this review.
Bankcard Brokers Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||No|
Outside Sales Staff
Bankcard Brokers appears to market its services primarily through outside sales agents and traditional advertising. We are unable to find any Bankcard Brokers reviews that accuse the company’s sales team of deceptive conduct, and a good portion of the company’s marketing is actually dedicated to educating merchants about the basics of the industry.
No Misleading Rates
As another point in the company’s favor, the Bankcard Brokers website doesn’t list any misleading rate quotes or unrealistic guarantees. We see no cause for concern when it comes to Bankcard Brokers’ sales tactics as of this review. However, we always recommend that readers consider a third-party statement audit to find and eliminate hidden fees in their statements.
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