Electronic Transfer Inc.: Card Processing Reviews & Complaints
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.
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.
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
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
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
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
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99% + $0.25|
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?
|Uses Independent Resellers||Yes|
|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.
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