Electronic Transfer Inc. Overview
Payment Processing for Gun Dealers
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.
Headquartered in Spokane, Washington
Electronic Transfer, Inc.is headquartered at 3107 E. Mission Ave, Spokane, Washington 99202 and is an ISO/MSP of Westamerica Bank, Santa Rosa, California. Mike Knudtson is listed as the president of Electronic Transfer, Inc.
Electronic Transfer Inc. Review Table of Contents
- Costs & Contract: Electronic Transfer Inc. appears to offer variable contract terms depending on each merchant’s needs.
- Complaints & Service: Electronic Transfer Inc. has received fewer than 10 public complaints.
- BBB Rating: Electronic Transfer Inc. currently has an “A+” rating and has received 0 complaints and 2 reviews in the last 3 years. The company has been accredited by the Better Business Bureau since 2000.
- Sales & Marketing: Electronic Transfer Inc. appears to hire independent sales representatives but has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Electronic Transfer Inc.
Types of Businesses Served
- High risk
Our unbiased reviews are supported, in part, by helping you find highly rated merchant accounts. You can learn more here.
Electronic Transfer Inc. Rates, Fees, and Costs
|Swiped Rate||1.00% - 4.99% + $0.25|
|Keyed-in Rate||1.00% - 4.99% + $0.25|
|Virtual Terminal Rate||1.00% - 4.99% + $0.25|
|Statement Fee||$9.95 Per Month|
|Gateway Fee||$10 Per Month|
|Early Termination Fee||None|
|PCI Compliance Fee||Undisclosed|
|Equipment Lease Terms||None|
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 2 years. The same representative also stated that the company has not leased any equipment to merchants since 2002, and that merchants 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 merchants 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 is showing zero complaints online that mention higher-than-expected rates or fees. A company representative has informed us that it is company policy to immediately refund merchants 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 that advertises 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 that are acceptable to most merchants. 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.Are you happy with your Electronic Transfer Inc. fees? Tell us about them before your go!
Electronic Transfer Inc. Complaints & Customer Reviews
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Volume
A review of several consumer protection websites does not uncover any 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. For a company that has been in business since 1989, this is a remarkably low complaint volume.
Electronic Transfer, Inc. Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against Electronic Transfer Inc. Dissatisfied merchants 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 likely that Electronic Transfer Inc.’s customer service department, which offers dedicated lines for general merchant 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. BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
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 not received any complaints in the past three years.
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. Merchants should note, however, that there are good reasons to be skeptical of the BBB’s rating system.
Truth In Marketing & Advertising
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||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.
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.
About Phillip Parker
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.