Best Rate Merchant Service Review: Fees, Complaints, & Lawsuits
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. 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 Service Payment Processing
The company highlights its 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. Their services include POS solutions, EMV readers and card swipers, check processing, access to payment gateways, mobile payments, e-commerce solutions, EBT processing, gift card programs, cash advances, PCI compliance, and chargeback protection.
Best Rate Merchant Service Location & Ownership
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 93063. 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 complaints number fewer than 10 on public complaints forums.
- BBB Rating: Best Rate Merchant Service has an “A+” rating and has received 0 complaints in the past 3 years. The company has been accredited by the BBB since 2010. (Phentermine)
- Sales & Marketing: Best Rate Merchant Service does not appear to rely on independent sales agents and has no complaints about its sales practices.
Best Rate Merchant Service Customer Reviews
Here's What Their Clients Say
|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. If you have your own Best Rate Merchant Service review to make, please do so in the comments below.
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 Service Options
Best Rate Merchant Service offers phone and email support to its merchants.
We have located a single Best Rate Merchant Service customer service number:
(866) 577-1593 – Toll-Free General Customer Service
Best Rate Merchant Service offers a dedicated email support address at [email protected] and a support form on its website.
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 Online Ratings
Here's How They Rate Online
Online Ratings Summary
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.
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.
Best Rate Merchant Service Fees, Rates & Costs
A Closer Look at The Contract
|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|
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.
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.
Best Rate Merchant Service Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
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.
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.
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