FlashBanc Overview

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Founded in 2008

FlashBanc (flashbanc.com) is a merchant account provider headquartered in Boca Raton, Florida. In operation since 2008, the company is a reseller of First Data‘s merchant services with an estimated $4 million in annual revenue.

FlashBanc Location and Ownership

Flashbanc is a registered ISO/MSP of Wells Fargo Bank, N.A., in Concord, California, and is located at 185 NW Spanish River Blvd. #205, Boca Raton, Florida 33431. Jason Wright is listed as the president of Flashbanc.

FlashBanc Review Table of Contents

  • Costs & Contract: FlashBanc appears to offer a standard contract through First Data with an early termination fee of either $299 or $499.
  • Complaints & Service: FlashBanc has received over 10 public complaints.
  • BBB Rating: FlashBanc has an “A+” rating with the Better Business Bureau and has received one complaint in the past three years.
  • Sales & Marketing: FlashBanc employs a large team of independent sales agents and has received some complaints about its sales team.
  • Rates & Fees: How Merchants Got The Best Rates With FlashBanc

FlashBanc Statement Analyzer

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Products & Services Offered

Types of Businesses Served

  • Retail
  • MOTO
  • E-commerce
  • High risk

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FlashBanc Rates, Fees, and Costs

Key Points

Swiped Rate Undisclosed
Keyed-in Rate Undisclosed
Early Termination Fee $299 or $499
PCI Compliance Fee Undisclosed
Monthly Fee Up to $35
Equipment Lease Terms Undisclosed

FlashBanc Contract Terms

The standard FlashBanc contract (available below) is an agreement through First Data with an early termination fee of $299, a monthly minimum fee of $25, a statement fee of $9, a chargeback fee of $25, and a tiered pricing structure. Although the company’s service length and PCI Compliance fees are not listed in this document, it is likely that the company offers a multiyear contract with an annual PCI Compliance fee of some sort. First Data is a very large processor with a wide array of services, so it’s possible that FlashBanc’s contract terms may vary depending on a merchant’s size, business type, and time in business.

Early Termination Fee

Multiple merchants also report that FlashBanc’s termination fee is actually $499, which the company does not dispute in its responses to these complaints. The company does specify, however, that early termination fees will only apply when FlashBanc pays a merchant’s termination fee through their previous processor before opening their account with FlashBanc.

Industry-Average Terms

The fees and rates listed in the company’s merchant application are roughly average for the industry, but we have noticed a steady increase in complaints online about the company’s contract terms. We will therefore award FlashBanc a “C” rating in this category, and we do not expect the company’s terms to compete with the cheapest merchant accounts available. See the FlashBanc Merchant Agreement.

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Response from FlashBanc

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FlashBanc Complaints & Customer Reviews

Key Points

Total Online Complaints 10+
Live Customer Support Yes
Most Common Complaint Undisclosed Fees

Merchant and Employee Complaints

We are currently able to locate over 10 negative FlashBanc reviews online, some of which accuse the company of being a scam or a ripoff. Some of the complaints were filed by merchants, while others were posted by current or former employees. The merchant complaints mention unexpectedly high processing rates, undisclosed fees, and unauthorized or incorrect withdrawals from their bank accounts, even long after the accounts were closed. The company’s complaint volume has steadily risen in the last two years, with several merchants reporting very similar, moderately serious issues. As a result, we will lower the company’s score in this section.

Flashbanc Lawsuits

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

FlashBanc Customer Support Options

The FlashBanc website lists dedicated phone contact information, but whether this line is serviced by FlashBanc or First Data is currently unclear. FlashBanc’s support channels are not enough to qualify it as a top-rated payment processor for customer service at this time.

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Response from FlashBanc

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FlashBanc BBB Rating Summary

Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 1
Guarantee & Warranty Complaints 0
Delivery Complaints 0

One BBB Complaint

FlashBanc has been an accredited business with the Better Business Bureau since 2011. As of this review, the company has an “A+” rating with the BBB and has had one complaint filed against it in the last 36 months. This sole complaint stemmed from an advertising or sales issue and was successfully resolved to the satisfaction of the merchant.

An “A” Performance

Since FlashBanc has been in business for roughly seven years and is showing only one complaint, we agree with the BBB’s rating as of this update. Merchants should still be aware, however, that there are good reasons to be skeptical of the BBB’s rating system.

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Response from FlashBanc

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Outside Sales Staff

FlashBanc primarily markets its services through independent sales agents. This hiring practice is usually linked to elevated complaint rates among merchants, as independent sales agents generally receive little training or oversight. We are currently able to locate more than 10 FlashBanc complaints from merchants who accuse the company’s sales agents of failing to disclose important costs and engaging in high-pressure sales tactics. We have also found at least three complaints filed online by current or former FlashBanc sales agents. These employees describe poor agent support and delays in commission payments.

No Deceptive Advertising

To its credit, the company does not appear to engage in deceptive advertising strategies in its official materials. However, the steady increase in complaints related to undisclosed fees or misleading sales pitches has lowered its score in this section. If you suspect that FlashBanc is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden costs.

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Response from FlashBanc

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FlashBanc Marketing Example

FlashBanc Logo

Our Opinion of FlashBanc

A Decent Merchant Services Provider

FlashBanc rates as an above-average credit card processor according to our rating criteria. The company appears to offer standard rates and fees through First Data but is showing an increasing number of complaints online. Merchants who are thinking of processing payments through FlashBanc should be sure to read their contract terms carefully and to compare the company’s pricing to the best overall merchant account providers.

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Thank you for reading my review. I hope that it has helped you with your research.

My Qualifications

I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so decided to build this website to help you research which providers to use and how to save money on rates and fees. 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 here. Simply scroll to the top of the page to find the search bar. You can also message me if you need any guidance.

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8 Reviews Leave Your Review for FlashBanc Below

  1. gino says:

    Stay away! I have been with Flashbanc for 6 months. Every single month I am overcharged hundreds of dollars and I have to call and spend hours and sometimes days to get my money back. The do not respond and when they finally do, I get partial money back. they are a complete rip off. Save yourselves from being a victim of fraud. DO NOT DO BUSINESS WITH FLASHBANC.

  2. JL Stephan says:

    Absolutely horrible experience from a merchant perspective – I was told there was no contract but was charged $499 for “early termination fee” – totally bogus. I mailed back their loaner terminal – which I understood there would be a charge for if not received in time – but received no consideration. Every time I contacted – passed around from rep to rep. Don’t all for their high pressure tactics!

  3. Judi O'Cconnor says:

    I have worked for Flashbanc for 2 1/2 years and set up Louie Long’s account. He wrote this before I made a customer service call. He told me his issues. I did not realize that he processed so little. There are many months he processes nothing. There are minimum fees related to credit card processing. On two different occasions Flashbanc worked with this merchant. He is now happy. Flashbanc has no “go by the book” rules, instead works with each merchant to tailor to his/her needs.

  4. Alison says:

    Although it was nice to get another quote from a competitor, the sales tactics were very pushy. I was contacted multiple times via email and phone calls by 2 different representatives from the company. They were very persistant and pushy with trying to get us to sign the contract. When we finally decided not to they kept asking “why wouldn’t you, we are saving you money”. The constant calls and emails were intrusive. Multiple times when they called I told them that I would email them, yet they would call me back in a couple days.
    Very frustrating and will NOT every do business with them.

  5. Todd J says:

    Person who set up account lied to me about there being no contract. When I went to cancel Flashbanc was nice enough to tell me I needed to pay $500 for early termination and a $300 charge for set up. They are all lairs and just say what ever to sign you up. Then hose you when you try to cancel. Would never ever ever ever use this company again or suggest it to anyone else.

  6. Charlie Jones says:

    I have processed with them for 4 years. Awesome pricing. Have had very few issues with them. If I ever have any issue they resolve it quickly. Very good company.

    1. Parker1 says:

      Hi Charlie,

      Please reply to this comment with your business name and location in order to authenticate you testimonial. Thanks!

  7. Louie Long says:

    Do not use this company, biggest mess I’ve every gotten into. Every month they find some way to add new charges, my last months credit card transactions only totaled 668.75 for which Flashbanc charged me 50.80. Please take my advice and stay away for these people.

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