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Should You Trust Best Rate Merchant Service With Your Payments?

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Best Rate Merchant Service

Rating
A
4.5/5
full starfull starfull starfull starempty star

Pros and Cons of Best Rate Merchant Service

Pros

High-risk specialization
Global payment processing
Fraud prevention tools
Responsive customer support
A+ BBB rating

Cons

Potential hidden fees
Contract term ambiguity
Undisclosed pricing details
No 24/7 support
Possible service delays

Overview

In this review of Best Rate Merchant Service, we take a closer look at the company’s credit card processing services. Their offerings include point-of-sale systems, mobile payment options, and e-commerce features designed to support a variety of businesses. We’ll highlight which businesses may benefit most from these services. We’ll also review client and customer feedback to identify common trends and concerns. In addition, we’ll cover pricing, contract terms, and included services. By the end, you’ll know whether Best Rate Merchant Service is the right fit for your payment processing needs.

About Best Rate Merchant Service

Screen Capture of Best Rate Merchant Service Homepage
Best Rate Merchant Services Homepage

Founded in 2008, Best Rate Merchant Service, also known as “BR Merchant Service,” is a merchant account provider that serves both standard and high-risk business types. Best Rate Merchant Service also appears to operate under the name Painless Processing and is partnered with multiple backend processors, which may include Paya and EVO Payments International.

Best Rate Merchant Products and Services

Payment Processing

The company is a member of the Smoke-Free Alternative Trade Association (SFATA) and positions itself as a leading account provider in the vape and e-cigarette industry. Merchant reviews indicate that the company also serves businesses selling CBD products. Their services include POS solutions, EMV readers and card swipers, check processing, payment gateways, mobile payments, e-commerce solutions, EBT processing, gift card programs, cash advances, PCI compliance, and chargeback protection.

Customer Reviews & Sentiment

Low Overall Complaint Total

Our search uncovered a few negative Best Rate Merchant Service reviews. These complaints touch on various issues such as fund holds, subpar customer service, incorrect billing, undisclosed fees, and insufficient employee support. However, no consistent pattern emerges to indicate major customer service problems. Some recent positive testimonials provide a counterbalance to these complaints. Nonetheless, Best Rate has not yet achieved status as one of the best-rated payment processors for customer support. We invite you to contribute your own Best Rate Merchant Service review in the comments.

Best Rate Merchant Service Lawsuits

No outstanding class-action lawsuits or FTC complaints have been identified against Best Rate Merchant Service. Merchants seeking alternatives to litigation might consider reporting concerns to relevant supervisory bodies.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop5
BBB Rating1
Average Rating3

PaymentPop Rating for Best Rate Merchant Services

Negative Feedback

There are no negative reviews published about Best Rate Merchant Services on the PaymentPop website.

Positive Feedback

Best Rate Merchant Service delivered exactly what we were looking for, no long sales pitch, just clear pricing and solid support. Setup was simple, and our processing has been consistent since day one. It’s been a straightforward experience without any runaround.

Best Rate Merchant Service BBB Rating

Best Rate Merchant Service currently has an “A+” rating with the Better Business Bureau and has been accredited since 2010. The company has received no complaints to its BBB profile in the last three years. Best Rate Merchant Service has a 1 out of 5 star rating based on 1 user reviews on the Better Business Bureau website.

What Merchants Say

The company currently is showing no complaints to its profile in the last 3 years. One 2016 complaint described a sudden fee increase with poor communication from the company:

On 8/3/16 I began receiving a 6.3% discount (fee) applied to my transactions. All previous transactions were 3.5% and inline with my merchant agreement. Since 8/5/16, (9) phone calls and (11) emails have been placed asking for an explanation, and currently cancellation documents. There has been no follow up or action taken on any statements made by Best Rate regarding the 6.3% charges, and also no cancellation documents sent since my initial request on 9/15/16. Emails and phone calls result with no action taken, if there is any reply whatsoever. Please see the communication log below. 8/3/16 first 6.3% transaction 8/5/16 email asking if there is a mistake, or what happened 8/9/16 second 6.3% transaction 8/9/16 phone call to Best Rate stating “it happened again, did you find anything out” 8/9/16 email reply “we will check into it” 8/15/16 email asking for explanation 8/17/16 phone call asking for explanation 8/23/16 email asking for explanation 8/23/16 reply “its in the fine print, we will look into it/maybe we can lower your rates” (this is the last response about this issue to date – no follow up, no action taken) 8/25/16 emailed with details from competitor “do you offer a plan / product like this” 8/25/16 reply “maybe we can lower your rates” (30 working days after 1st email – no action / follow up taken by Best Rate) 9/15/16 phone call to request cancellation documents – was told I would have them by end of day 9/22/16 phone call to a different person to request cancellation documents 9/26/16 reply “someone else will be in touch later today” 9/26/16 phone call at end of day stating “no one has called”, please send documents 9/29/16 phone call requesting cancellation documents 9/30/16 phone call requesting cancellation documents 10/4/16 email though Best Rate website asking for cancellation documents 10/5/16 email stating if documents are not sent by 10/7/16 I will file complaint 10/5/16 reply “you will have them by 10/6/16, we can lower your rates if you stay” 10/8/16 nothing to date

Despite issues with higher-than-expected fees and questionable customer service, the above merchant and Best Rate were able to reach a resolution.

An “A” Rating For Now

Given the company’s low complaint total and successful resolutions, we agree with the BBB’s rating at this time, but merchants should only cautiously rely on BBB ratings in general.

Processing Rates & Fees

Customized Pricing

We are unable to locate specific details about the standard Best Rate Merchant Service contract at this time. Due to the company’s willingness to serve high-risk merchant types, it is likely that Best Rate customizes its pricing depending on each merchant’s size, type, and time in business.

High Termination Fees

This complaint claims that the Best Rate Merchant Service contract terms through EVO Payments International may include an annual fee, monthly PCI compliance fee, and other undisclosed fees, but a response from a company representative makes it clear that the complainant merely received a quote they were unhappy with. We have also received a complaint in the comment section below this review from a merchant who claims to have been charged a $700 early termination fee for closing their business, even though the company had told this merchant that this fee only applies when a merchant switches to a new provider. Regardless of the conditions that apply, this is a higher-than-average termination fee for the industry and is enough to exclude Best Rate from our list of the cheapest merchant accounts.

Overall Rating

High-risk merchants working with Best Rate should generally expect higher-than-average per-transaction fees and stricter cash reserve policies in keeping with standard industry practice. Given the few complaints about the Best Rate Merchant Service rates, we will assign it a “B” in this category until we have more information. If you have any specific knowledge of the standard Best Rate Merchant Service contract (including any monthly minimum fees or early termination fees), please share that information in the comment section below this review. We would encourage merchants to check out our list of the providers of the best merchant accounts.

Employee Reviews & Sales Practices

Dual Approach

Best Rate appears to utilize both in-house and outside sales agents to market its services. There is no evidence that the company hires independent agents on a wide scale, and we are unable to find any Best Rate Merchant Service reviews that mention unethical conduct by the company’s sales team. This compares favorably to our list of best credit card processors.

Sole Complaint

One Best Rate Merchant Service complaint from a former employee claims that the company fabricates rate quotes and makes unrealistic guarantees, but this claim isn’t corroborated by any other sources at this time. To the company’s credit, we cannot see any misleading rate quotes or deceptive tactics in its official marketing materials. For now, we have accordingly assigned the company an “A” in this category, but if you suspect that Best Rate Merchant Service is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate unnecessary charges.

Best Rate Merchant Service Competitors

Compare Best Rate Merchant Service to competitors that earned top marks.

Bottom Line

Best Rate Merchant Service is regarded as a reliable merchant services provider based on all available data. Over the past ten years, the company has consistently maintained a low number of complaints and refrains from overtly deceptive sales tactics. While our rating could change as more current merchant feedback becomes available, we still advise merchants to compare the company’s pricing with that of top-rated credit card processors before committing to a service. This comparison will help ensure that businesses secure a solution that aligns with their specific needs and expectations while providing transparent and competitive rates.

Read Actual User Reviews

All user reviews have been moved to our partner, PaymentPop.com

Contact Best Rate Merchant Service

Contact & Customer Support
CEOEli Rubin
Headquarters4680 E Los Angeles Avenue, Simi Valley, California 93063
Toll-Free General Customer Service(866) 577-1593
Websitebestratemerchantservice.com