Best Rate Merchant Service Review

Best Rate Merchant Service Overview

Specializing in Vape and E-Cig Accounts

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. The company highlights their membership with the Smoke-Free Alternative Trade Association (SFATA), claiming to be a vape and e-cig industry account leader. Merchant reviews also reflect the company providing services to companies selling CBD products. 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.

Headquartered in California

Best Rate Merchant Service is a registered ISO/MSP of BMO Harris Bank, Chicago, Illinois, and is headquartered at 4680 E Los Angeles Avenue, Simi Valley, California. Eli Rubin is listed as the CEO of Best Rate Merchant Service.

Best Rate Merchant Service Review Table of Contents

  • Costs & Contract: Best Rate Merchant Service appears to offer a multi-year contract that can include an early termination fee of up to $700.
  • Complaints & Service: Best Rate Merchant Service has received fewer than 10 public complaints.
  • BBB Rating: Best Rate Merchant Service has an “A+” rating and has received 1 complaint in the past 3 years. The company has been accredited by the BBB since 2010.
  • Sales & Marketing: Best Rate Merchant Service does not appear to rely on independent sales agents and has received only complaint about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Best Rate Merchant Service
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Products & Services Offered

Types of Businesses Served

  • Retail
  • Mobile
  • E-commerce
  • High risk
  • E-cigarette
  • Adult

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Best Rate Merchant Service Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Early Termination Fee Up to $700
PCI Compliance Fee Undisclosed
Equipment Lease Terms Undisclosed

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 Best Rate’s 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 company’s pricing, we will assign it an “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.

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Response from Best Rate Merchant Service

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Best Rate Merchant Service Complaints & Customer Reviews

Key Points

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

Low Overall Complaint Total

We’ve found a handful of negative Best Rate Merchant Service reviews, some of which accuse the company of being a scam or a ripoff. The complaints cite scattered issues, including fund holds, poor customer service, improper billing, nondisclosure of fees, and poor support for employees. There is no prevailing trend that suggests a large customer service issue at the company, and there are a couple of positive testimonials about the company that are more recent than any of its complaints. Still, Best Rate does not make the cut for the best-rated payment processors for customer support.

Best Rate Merchant Service Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Best Rate Merchant Service. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Best Rate Merchant Service Customer Support Options

The company’s grade remains at a “B” in this section, but we will continue monitoring consumer protection forums (including the comment section of this review) to better assess merchant satisfaction. Best Rate Merchant Service offers phone and email support to its merchants.

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Response from Best Rate Merchant Service

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Best Rate Merchant Service BBB Rating Summary

Key Points - BBB

Product & Service Complaints 1
Billing & Collection Complaints 2
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Under 5 Complaints

Best Rate Merchant Service currently has an “A+” rating with the Better Business Bureau and has been accredited since 2010. The company has received just 1 complaint on its BBB profile in the last 36 months. 2 complaints were related to a billing or collection dispute and 1 was related to a product or service problem. All were successfully resolved to the merchant’s satisfaction.

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.

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Response from Best Rate Merchant Service

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Truth In Marketing & Advertising

Key Points

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

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 merchant complaints that mention unethical conduct by the company’s sales team.

Sole Complaint

One 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.

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Response from Best Rate Merchant Service

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Our Opinion of Best Rate Merchant Service

A Decent Option for Most Businesses

Best Rate Merchant Service rates as a reliable merchant services provider according to all available information. The company has maintained a low complaint total during its ten years in operation and does not engage in overtly deceptive sales practices. Our rating for Best Rate Merchant Service may be subject to change as more current merchant feedback becomes available, but we still encourage merchants to compare the company’s pricing to top-rated credit card processors before signing up for service.

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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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2 Reviews Leave Your Review for Best Rate Merchant Service Below

  1. Jerry Allen says:

    Best Rate Merchant Service has the worst customer service ever! And they have the audacity to name their company this??? I was on hold for more than an hour then i got hold of the ceo or owner eli rubin who was very rude and worst than the customer service rep. not a real company. i paid a visit to their location in simi valley, california – the place is unorganized and messy. How can they be accepting clients? and doing business with other businesses??? you might want to reconsider.

  2. Rebecca Forbes says:

    We were very unhappy with our Best rate Credit card provider. They blocked about 50 to 75 percent of sales due to problems with their credit card processing and continued to charge a monthly fee for horrible credit card processing. It caused us to lose sales. Which was very hard on start up small business. Every dollar counted and this helped to cause our business to fail. Then when our business closed and we closed our account, they charged us a $700 fee, when their Sales rep said that fee is “only for business that moved to another company for credit card processing, not for a buisness closing and going out of business.” The Sales Rep lied to us and the collections department calls to bother us on a regular basis about the bill. The collection department refuseds to up hold the promise of the sales Rep and wave the fee since our business is closing. Paypal would be a much better choice, than this company.

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