Bankcard Brokers Overview

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High Risk Processing Specialists

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. The company also advertises services that help its merchants with set up virtual terminals, support Apple Pay, and to accept Bitcoin payments as well as a zero fee processing program.

Location and Ownership

The company is likely partnered with multiple acquiring banks in order to serve its diverse merchant base. Brett Taylor is the president of Bankcard Brokers, which is headquartered at 300 W 15th St #301, Vancouver, Washington 98660.

Bankcard Brokers Review Table of Contents

  • Costs & Contract: Bankcard Brokers appears to offer variable contract terms that will depend on each merchant’s risk profile and processing history. The company uses Authorize.Net for a payment gateway for its e-commerce services.
  • Complaints & Service: Bankcard Brokers has received fewer than 10 public complaints.
  • BBB Rating: Bankcard Brokers has an “A+” rating and has received 0 complaints in the past 3 years. The company has been accredited by the Better Business Bureau since 2013.
  • Sales & Marketing: Bankcard Brokers appears to hire independent sales representatives but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Bankcard Brokers
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Products & Services Offered

  • Debit and credit card processing
  • ACH processing
  • EMV-compatible credit card terminals
  • Mobile payment processing
  • Online payment gateway
  • POS systems

Types of Businesses Served

  • Retail
  • E-commerce
  • Restaurant
  • Adult
  • E-cigarette
  • Firearms

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Bankcard Brokers Rates, Fees, and Costs

Key Points

Swipe Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Virtual Terminal Rate 2.90% + $0.30
Payment Gateway Fee $25 Per Month
Batch Fee $0.15
Early Termination Fee Undisclosed
PCI Compliance Fee Undisclosed
Equipment Lease Terms Undisclosed

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 merchant 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 merchant’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 that advertises its virtual terminal and payment gateway services through Authorize.Net. Under the terms of a standard Authorize.Net contracts, merchants 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, merchants should not expect Bankcard Brokers’s 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.

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Response from Bankcard Brokers

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Bankcard Brokers Complaints & Customer Reviews

Key Points

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

No Merchant 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.

Bankcard Brokers Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Bankcard Brokers. Dissatisfied merchants 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 offers phone and email contact information on its website, but it’s unclear whether these lines are directly connected to customer support reps, so we’re unable to include the company in our list of top-rated credit card processors for customer service.

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Response from Bankcard Brokers

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Bankcard Brokers BBB Rating Summary

Key Points - BBB

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

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’s clean complaint record, we agree with the BBB’s rating. Merchants should be aware, however, that there is reason to be skeptical of the BBB’s rating system.

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Response from Bankcard Brokers

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
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 complaints that accuse the company’s sales team of deceptive conduct, 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’s sales tactics as of this review. However, we always recommend that merchants consider a third-party statement audit to find and eliminate hidden fees in their statements.

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Response from Bankcard Brokers

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Bankcard Brokers Marketing Example

Bankcard Brokers Logo

Our Opinion of Bankcard Brokers

Solid Option for High Risk Merchants

Bankcard Brokers rates as a reliable high risk merchant services provider according to our rating criteria. The company has not received any public complaints and does not engage in deceptive sales tactics. We caution all merchants to read and understand all contract terms before opening a merchant account with the company, as details about its pricing are scarce. At this time, Bankcard Brokers appears to perform at a level comparable to the top high risk merchant account providers. We will continue to monitor merchant feedback about Bankcard Brokers and adjust our rating as necessary.

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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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