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Is ExecuTech Lease a Good Choice for Merchants?

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Maintained Since: November 2, 2015

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Executech Lease Group
Rating
F
1/5
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Pros

Diverse Equipment Options
Mobile Payment Solutions
E-commerce Payment Gateway

Cons

Non-Cancellable Lease Terms
Additional Fees
Customer Service Concerns
Potential Misrepresentation
Early termination fees

Overview

In this review of ExecuTech Lease Group, a major player in the credit card equipment leasing industry, we examine their rates and fees to give businesses a clear picture of the financial commitments involved. We cover their contract terms and conditions, highlighting what merchants should expect before signing an agreement. Our analysis also looks at customer complaints, industry ratings, and employee feedback to assess the company’s reputation and overall performance. Security is another key focus, with attention to ExecuTech’s compliance with PCI DSS standards and use of encryption to protect transactions. In addition, we provide background on the company’s leadership and operations, along with an overview of legal issues such as the Visa and MasterCard lawsuit and how it may affect clients. This review offers a balanced perspective on the benefits and challenges of working with ExecuTech Lease Group.

About Executech Lease Group

Screen Capture of Executech Homepage
Executech Lease Group Homepage

Founded in 2010, ExecuTech Lease Group is a credit card equipment leasing company that provides credit card terminals, check processing equipment, point-of-sale equipment, and ATMs. Like Northern Leasing Systems, Executech Lease Group does not process transactions or sell merchant accounts itself. Instead, sales agents will typically pair an Executech Lease Group equipment lease with a newly opened merchant account from a credit card processor.

Products & Merchant Services

Mobile Payment Solutions

ExecuTech Lease Group provides mobile payment solutions, catering to the increasing demand for mobile payments. This service allows businesses to accept payments via mobile devices, making it a practical option for those with flexible or mobile operations.

E-commerce Payment Gateway

For online businesses, ExecuTech Lease Group offers an e-commerce payment gateway. This secure and reliable gateway integrates with existing online platforms, supporting multiple forms of payment.

Security Standards

ExecuTech Lease Group prioritizes transaction security, employing advanced encryption technologies to protect financial data. Their services comply with Payment Card Industry Data Security Standards (PCI DSS).

Customer Reviews & Sentiment

Low Complaint Volume

Less than 10 negative reviews have been found for ExecuTech Lease Group, indicating that the company is not involved in scam operations. While a low complaint rate is noteworthy, it does not automatically imply a positive reputation. ExecuTech’s outlier status in the equipment lease industry may stem from factors such as a smaller client base, recent market entry, or targeted marketing strategy compared to its peers like Northern Leasing Systems, First Data Global Leasing, and Ladco Leasing, all known for poor merchant reputations.

Based on its low complaint total, ExecuTech is assigned an “A” rating. However, prospective clients are advised to read user reviews and conduct thorough research before engaging with any company. ExecuTech provides phone support contact information on its website for user feedback and reviews.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop1
BBB RatingN/A
Google Maps2.3
Revdex RatingN/A
Average RatingN/A

PaymentPop Rating for Executech Lease Group

Negative Feedback

We are caught in a terrible situation with Executech. We got railroaded by Retail Cloud into leasing six POS terminals for our carpet cleaning vans. By the time we realized that it was a trick, it was too late. Now we are stuck paying $450 a month for 4 years. By the end of the lease we will have paid $21,600 for the POS devices and we still will not own them. We should have never agreed to this. It is such a rip off. They should not be allowed to charge these exorbitant rates and the merchant has no way to get out of it.

Positive Feedback

There are no positive reviews published about Executech Lease Group on the PaymentPop website.

Executech Lease Group Rating Analysis

Executech Lease Group listed on the Better Business Bureau (BBB), currently does not have any customer reviews or complaints. The BBB profile indicates that this business is not BBB accredited.

Negative Feedback

There are no customer reviews, including negative reviews, available for Executech Lease Group on the BBB website.

Positive Feedback

There are no customer reviews, including positive reviews, available for Executech Lease Group, LLC on the BBB website.

Google Maps Rating for Executech Lease Group

Executech has a 2.3 our of 5 star rating based on 9 user reviews on Google Maps.

Positive Feedback

Great company! Awesome customer service and great advise and lease terms!

Negative Feedback

I get a “hard inquiry “on my credit report from this company. But I have never done business with this company nor have I authorized them to pull my credit.

Revdex Rating Analysis for Executech Lease Group

The reviews for Executech Lease Group on Revdex reveal significant dissatisfaction among customers. There are only two reviews available, both of which are negative. The common theme in these reviews is the allegation of being misled by the company regarding contract terms and charges. Customers have expressed frustration over being unable to communicate with the company, citing issues such as unresponsive phone lines and unfulfilled promises regarding charge card processing equipment fees.

Negative Feedback

We were lied to every step of the way by this company. Now we can’t talk to a person. The phone line just continues to play music for up to an hour. We want to get out of this contract. We were told there was no charge for Charge Card Processing equipment. Now they are charging us $50 per month for 48 months. That is $2,400 for $200 worth of equipment. We have tried the phone number several days in a row during their posted hours. – Complaint from Revdex

We were lied to every step of the way by this company. Now we can’t talk to a person. The phone line just continues to play music for up to an hour. We want to get out of this contract. We were told there was no charge for Charge Card Processing equipment. Now they are charging us $50 per month for 48 months. That is $2,400 for $200 worth of equipment. We have tried the phone number several days in a row during their posted hours. – Complaint from Revdex

Positive Feedback

There are no positive reviews published about Executech Lease Group LLC on the Revdex website.

Source: Revdex

Processing Rates & Fees

Lease Contract Terms

The standard ExecuTech Lease Group contract typically spans multiple years, ranging from 36 to 60 months, and is non-cancellable. Upon signing, a $35 documentation/processing fee is charged, along with a monthly Loss & Damage Waiver fee of $4.95 and an annual administrative tax fee of $25. At the lease’s conclusion, businesses have the option to purchase the equipment for an additional one-time cost based on fair market value.

Lease To Own Program

ExecuTech Lease Group offers a program allowing clients to purchase equipment at fair market value upon lease completion. Fair market value is calculated based on a percentage of aggregate lease payments, varying depending on the lease term. Although payment processing terminals can generally be acquired for under $500, ExecuTech Lease Group also offers leases for POS systems, ATMs, and check imaging hardware.

Non-Cancellable Conditions

Attempting to cancel the agreement before its full term results in the client owing remaining monthly payments for the lease’s duration. These payments may be withdrawn as a lump sum or on a monthly basis until the lease is fulfilled. The contract explicitly states that no cancellation is permitted during the lease term, and attempts to modify or rescind the lease orally are non-binding. Clients acknowledge reading and agreeing to all terms upon signing.

Purchase Instead of Leasing Equipment

In most cases, businesses are advised against equipment leases. Credit card terminals are often available for less than $500, making long-term leases comparatively costly. While leasing offers some benefits, its expenses and legal obligations outweigh these advantages. We recommend exploring our list of the best merchant services providers.

Lawsuits & Legal History

As of 2024-03-22, there are no recorded class-action lawsuits or FTC complaints filed against ExecuTech Lease Group. Dissatisfied clients can consider reporting any issues to the relevant supervisory organizations.

Employee Reviews & Sales Practices

Third-Party Resellers

ExecuTech does not appear to market directly to businesses. Instead, the company primarily advertises to ISOs and independent sales agents who might be interested in reselling ExecuTech lease agreements. This sales structure typically results in a large number of client complaints, but there are very few negative ExecuTech Lease Group reviews at this time. One ExecuTech Lease Group review mentions nondisclosure of lease terms by an independent ExecuTech sales agent, is typical of providers like Northern Leasing Systems, First Data Global Leasing, and Ladco Leasing. However, there are not many ExecuTech Lease Group complaints of this nature. This compares favorably to our list of best credit card processors.

Bundled with Alpine Contracts

ExecuTech shares ownership and an address with Alpine Payment Systems, a poorly rated provider on CPO. Alpine Payment Systems is the subject of numerous complaints related to misrepresentation of fees, aggressive sales tactics, and selective disclosure of contract terms. This complaint thread indicates that some Alpine sales representatives are also selling ExecuTech lease agreements, which increases the likelihood that businesses could sign up for an ExecuTech lease without knowing the full terms. This is cause for concern due to ExecuTech’s standard lease agreement, which is a non-cancellable, multi-year term that can cost thousands over the life of the lease.

Some Cause for Concern

ExecuTech’s low complaint total has raised its grade to a “B” in this category, but the structure of its lease agreement and its connections to Alpine Payment Systems are preventing it from entering “A” territory for now. If you believe you may be overpaying on your monthly bill, we advise you to seek a fee reduction audit from an independent third party.

Executech Lease Group Competitors

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Bottom Line

It is challenging to endorse ExecuTech Lease Group as a credit card equipment leasing provider, primarily due to concerns about their sales tactics and lease agreement terms. The company mainly markets its services through independent resellers, a strategy that can lead to inconsistent customer experiences and raise doubts about the transparency of contractual terms. This method of operation could obscure crucial details about lease obligations and lead potential clients to enter into agreements without a full understanding of the terms.

While ExecuTech Lease Group maintains a relatively low complaint volume and lacks recent lawsuits, the association with Alpine Payment Systems, known for numerous customer grievances, complicates its reputation. This connection suggests that ExecuTech might be involved in similar practices or share operational strategies that could be problematic. Given these factors, business owners should proceed with caution when considering ExecuTech’s services.

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Contact Executech Lease Group

Contact & Customer Support
CEORobert Ensminger
Headquarters1111 Main St #655, Vancouver, WA 98660
Toll-Free General Customer Service(888) 574-9178
Fax(877) 966-0040
Websiteelgleasing.com