Capital Bankcard Review: Fees, Comparisons, Complaints, & Lawsuits
Cayan’s Independent Sales Division
Capital Bankcard is a merchant account provider that serves as an outside sales branch of Cayan. Capital Bankcard has been in business since 1998 and boasts that it manages over 80,000 merchant accounts, processes over 7 million transactions per month, and has over 170 dedicated employees. Capital Bankcard uses First Data for the actual processing of the card transactions, but First Data plays a minimal role beyond that. Customer service is provided and the accounts are managed by Capital Bankcard’s in-house team.
Capital Bankcard Payment Processing
Capital Bankcard processes all major debit and credit cards for most business types. Their services are strangely not listed on their site, though it is likely they include in-person and online payment processing.
Capital Bankcard Location and Ownership
Capital Bankcard is headquartered at One Federal St, 2nd Floor Boston, MA and Henry Helgeson is the CEO of the company. Capitalbankcard.com is a registered ISO/MSP US Bank-Minneapolis MN, National Association Buffalo, NY; Elavon, Inc. Georgia; and Wells Fargo Bank, N.A., Concord, CA.
Capital Bankcard Review Table of Contents
- Costs & Contract: Capital Bankcard appears to offer variable contract terms through First Data.
- Complaints & Service: Capital Bankcard complaints number fewer than 10 on public complaints forums.
- BBB Rating: Capital Bankcard has an “A+” rating with the Better Business Bureau and has received 0 complaints and 0 reviews in the past 3 years.
- Sales & Marketing: Capital Bankcard appears to hire independent sales representatives and has received a few merchant complaints about its sales team.
Capital Bankcard Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
Capital Bankcard complaints are few for the length of time it has been in business. There appears to be only one serious Capital Bankcard complaint filed against the company (documented here), which received a very professional rebuttal from the representative in question. The remaining complaints tend to cite customer service issues. In the past year, Capital Bankcard has received a slight increase in complaints, but these reports do not cite any consistent issue.
Capital Bankcard Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Capital Bankcard. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Capital Bankcard Customer Service Options
Capital Bankcard offers dedicated phone support, a customer support form, and email support to merchants. The in-house support team can be reached from Monday through Friday from 9:00 am to 6:30 pm EST. Capital Bankcard’s low complaint rate seems to indicate that this team does an adequate job of anticipating and responding to complaints, but it falls short of the top-rated payment processors for great customer service at this time.
We have located a single Capital Bankcard customer service phone number:
(877) 788-2836 – Toll-Free Support
Capital Bankcard also offers a customer service email address at [email protected]
Capital Bankcard Online Ratings
Here's How They Rate Online
Online Ratings Summary
|Product & Service Complaints||7|
|Billing & Collection Complaints||7|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
Note: Capital Bankcard’s main BBB profile is no longer listed. All that remains on the BBB website is a profile bearing the company’s name and logo in Fort Wayne, Indiana. The Capital Bankcard website still uses its Boston, MA address. As such, this review contemplates the data from when its verified profile was last accessible.
Over 10 Complaints
As of this review, Capital Bankcard has an “A” rating with the Better Business Bureau and has received 14 complaints filed with the BBB in the last 36 months. Of these complaints, seven were related to billing and collection issues, while the other seven were related to product or service problems. The company resolved three complaints to the merchants’ satisfaction, while the other 11 either were resolved to the dissatisfaction of the merchant or did not receive a final assessment from the merchant.
What Merchants Say
The company also has 3 negative informal reviews posted to its profile. 2 of the reviews appear to have been intended for Capital One rather than Capital Bankcard, but one describes difficulty canceling service:
This merchant processor is giving us the run around. We are closing the account and need information to unlock the terminal. They lie and say it is not locked. It is locked. The rep says to mail them a letter. I tell him that is unacceptable, we are closing account today.
Merchants can avoid “locked” terminals by purchasing their own EMV-enabled card readers directly.
A “B” Performance
Given the company’s complaint rate and resolution ratio, we have slightly adjusted the BBB’s rating to a “B” at this time.
Capital Bankcard 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||Undisclosed|
|PCI Compliance Fee||$79 Per Year|
|Equipment Lease Terms||Undisclosed|
Variable Contract Terms
Most of Capital Bankcard’s accounts are brought in by independent resellers who have a certain level of pricing control in the merchant account agreement; however, Capital Bankcard seems to consistently promote fair pricing and flexible contracts. Capital Bankcard rates will vary by business type, processing volume, and the agents who set up the account. Capital Bankcard offers month-to-month contracts, but resellers can add a cancellation fee of their choosing that turns it into a three-year agreement. A copy of the company’s standard merchant application includes a $79 PCI Compliance fee but leaves all other rates and fees to the agent’s discretion.
No Red Flags
Overall, Capital Bankcard offers low-commitment, low-cost terms to most of its merchants. Its pricing ranges from industry-average to those competitive with even the cheapest merchant accounts.
We also encourage merchants to check out our list of the providers of the best merchant accounts.
Capital Bankcard Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Outside Sales Team
Capital Bankcard uses independent sales agents to market its services. This is a standard industry practice that can often result in an untrained and unmonitored sales force. However, there are very few Capital Bankcard complaints regarding its sales agents, which indicates that the company does a better job than most of regulating agents’ behavior. The available complaints describe slow response times and poor customer service rather than any kind of intentional deception. In general, this compares favorably to our list of best credit card processors.
No Deceptive Rates
Capital Bankcard does not list any misleading quotes or unrealistic guarantees on its website. This, combined with the company’s low complaint rate, seems to indicate that its agents are generally forthright when it comes to rate quoting and contract term disclosure. If you suspect that Capital Bankcard is charging you more than you agreed to, however, we recommend seeking a third-party statement audit.
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