Electronic Transfer Inc.: Card Processing Reviews & Complaints

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Electronic Transfer Inc. Rating
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Call Electronic Transfer Inc. Call Electronic Transfer Inc. (800) 757-5453 View Pricing

Company Overview

Electronic Transfer, Inc., also known as Fash Charge and Electronic Merchant Systems, has been a merchant account provider since 1989. The company offers processing services for a wide range of businesses, but one of its major specialties is payment processing for firearms dealers. The company owns GunMerchantAccount.com as a way to specifically market to gun vendors. Their services include online processing, mobile solutions, and MOTO.

Article Summary

Before we dive in, here’s a short summary of what we’ll cover:

  • Electronic Transfer, Inc.’s various payment processing services.
  • The company has received very few online complaints.
  • Contract terms are not readily available.

E-Commerce Payment Solutions

Electronic Transfer, Inc. also caters to online businesses with e-commerce payment gateways. These solutions support secure online transactions and can be integrated into various shopping cart systems.

Mobile Payment Processing

For businesses that need flexibility in accepting payments on the go, the company offers mobile payment processing options. This service allows merchants to process credit card transactions using mobile devices.

Merchant Accounts

Electronic Transfer, Inc. provides merchant accounts that facilitate the handling of credit card transactions. These accounts enable businesses to accept and process credit card payments by linking to the required financial institutions.

Fraud and Risk Management

To safeguard against fraudulent activities, Electronic Transfer, Inc. offers fraud and risk management tools. These tools are designed to detect and prevent fraudulent transactions, thus providing additional security to merchants.

Location & Ownership

Electronic Transfer, Inc. is headquartered at 3107 E. Mission Ave, Spokane, Washington 99202 and is an ISO/MSP of Merrick Bank, South Jordan, UT. Mike Knudtson is listed as the president of Electronic Transfer, Inc.

Table of Contents

Electronic Transfer Inc. Customer Reviews

Here's What Their Clients Say

Key Points

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

Low Complaint Volume

We have found no Electronic Transfer Inc. reviews that describe the company as a ripoff or a scam. In fact, we mostly found positive consumer testimonials about the company, although nearly all of these were unverified. There is one review in our comment section that describes difficulty canceling an account, but so far this is an entirely isolated report. For a company that has been in business since 1989, this is a remarkably low complaint volume. If you have your own Electronic Transfer, Inc. review to make, please do so in the comments below.

Electronic Transfer, Inc. Lawsuits and Fines

We have not found any outstanding class-action lawsuits or FTC complaints filed against Electronic Transfer Inc. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Electronic Transfer, Inc. Customer Support Options

It seems that Electronic Transfer Inc.’s customer service department, which offers dedicated lines for general client support and specific complaints, is responsive enough to resolve all complaints in-house. An alternative explanation could be that Electronic Transfer Inc.’s partnership with numerous processors has resulted in complaints being funneled to the online profiles of those companies. Since we can find no evidence that this is actually occurring, we have awarded Electronic Transfer an “A” in this category; its support department appears to function at a level close to top-rated payment processors for customer service.

Electronic Transfer, Inc. Customer Service Numbers

  • (800) 757-5453 – Toll-Free Customer Support
  • (509) 924-6621 – Local Office

Other Support Options

  • Customer support form

Electronic Transfer Inc. Online Ratings

Here's How They Rate Online

Online Ratings Summary

BBB Reports 1

Clean Complaint Record

Since 2000, Electronic Transfer, Inc. has been an accredited business of the Better Business Bureau, and the company retains an “A+” grade at the time of this review. Electronic Transfer has received 1 complaint in the past three years. The 1 complaint was resolved to the satisfaction of the client.

An “A” Performance Overall

In light of this information and the fact that the company is not showing any complaints, we agree with the BBB’s rating of the company. Readers should note, however, that there are good reasons to be skeptical of the BBB’s rating system.

Electronic Transfer Inc. Fees, Rates & Costs

A Closer Look at The Contract

Key Points

Cancellation Penalties No
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.99% + $0.25
Equipment Leasing Unclear

Month-to-Month Agreement

There is very little publicly verifiable information about the standard Electronic Transfer contract at this time. The Electronic Transfer’s website claims the company offers a month-to-month agreement and does not charge any setup fees or an early termination fee.

A representative of the company has informed us that the company has not charged any annual fees or termination fees for the past few years. The same representative also stated that the company has not leased any equipment to clients since 2002, and that businesses who utilize the company’s FastCharge payment gateway can cancel service at any time as long as they provide 30 days’ notice.

Electronic Transfer Inc. Pricing

At the time of our last update, the company’s website advertised no annual fee and a $9.95 monthly statement fee. The rates and fees chart on the company’s website – which is not currently visible – also listed a $0.25 transaction fee on both debit and credit payments, and it invited businesses to “call for new low rates” to learn about its discount rates for face-to-face sales. Usually, we would consider this type of generalized, unclear rate quoting to be either deceptive advertising or indicative of undisclosed high rates, but Electronic Transfer, Inc. complaints online don’t mention higher-than-expected rates or fees. A company representative has informed us that it is company policy to immediately refund clients whenever fees are not properly disclosed.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Electronic Transfer, Inc. also dedicates a portion of its website to advertising its virtual terminal and payment gateway, called the Fast Charge Payment Gateway. Exact rates are not disclosed, but the company does charge a $10 monthly gateway fee. Additional rates and fees including technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Satisfactory Contract Terms

In the absence of any information that contradicts the company’s advertised terms, we will assume that Electronic Transfer offers competitive rates in comparison to low-cost merchant accounts and that its contract terms are acceptable to most clients. If you have any knowledge of the standard Electronic Transfer contract (including any PCI compliance fees or monthly minimum fees), please leave that information in the comment section of this review.

We also encourage readers to check out our list of the providers of the best merchant accounts.

Electronic Transfer Inc. Employee Reviews & Sales Tacitcs

Should You Work For Them?

Key Points

Uses Independent Resellers Yes
Telemarketing Likely
Misleading Marketing No
Discloses All Important Terms No

Resellers and Outside Agents

Electronic Transfer appears to hire independent resellers, sub-ISOs, and agents to market its services. This is a standard practice within the industry that often results in an elevated complaint rate for a company, as it is difficult for any business to regulate the conduct of independent sales entities. In the case of Electronic Transfer, however, this hiring practice does not seem to have had a negative effect on its reputation. At the time of this update, we are unable to locate any Electronic Transfer, Inc. complaints that mention the company’s sales team.

This compares favorably to our list of best credit card processors.

No Misleading Advertising

The company also does not appear to engage in any deceptive advertising strategies in its official materials. If you are concerned that Electronic Transfer is overcharging you, however, we recommend seeking a third-party statement audit to eliminate hidden fees.

Our Electronic Transfer Inc. Review Summary

Our Final Thoughts

By all available indicators, Electronic Transfer, Inc. rates as a reputable credit card processing provider for standard and high-risk businesses. The company is showing no publicly available complaints and appears to offer better-than-average contractual terms. Electronic Transfer, Inc. is an ideal choice for businesses seeking a gun-friendly credit card processor, but businesses operating in other high-risk industries should compare the company’s contract terms and rates to other top-rated high-risk payment processors.

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Your Comments & Reviews

How Did Electronic Transfer Inc. Treat You?

3 Responses

  • We used their service for about 5 years and its expensive but dependable they got the job done.
    The problem came when we canceled the service they had ever changing requirements to cancel our account first we were told to sign and email the forms then they said these wouldn’t work we ended up faxing the docs and we were told the account was now closed a couple of months later they told us the account was never closed because they didn’t receive the fax it turned out they lost them so we sent pictures of the fax and proof of service a couple of months went by and then they contacted us and they hadn’t closed our account because we didn’t provide the emailed docs that they had rejected earlier and they hadn’t closed the account so now it turns out they had been taking money from our bank account totaling over $300 and they refuse to refund any of it.
    Its been a nightmare

  • Gail Landi

    Also known as Signature Card Services
    Absolutely this company and all of their employees are absolutely amazing to work with. They will jump through hoops to get you a great rate and to get you up and running as soon as possible. Do you believe in this day and age that every time I call a human being picks up the phone. And they are so knowledgeable, professional and friendly. I have dealt with many credit card processing companies in the past with my 30+ years in retail business and I am thrilled with this company. Do yourself a favor and try them out, you will not be disappointed. Thank you Naomi, Travis and Sherry, JOB WELL DONE!

  • their application states a $295 cancellation fee. Their gateway monthly fee is now closer to $11.

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