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Before You Sign with FlashBanc: Fees, Contracts & Customer Experiences

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Maintained Since: April 2, 2013

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All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

FlashBanc
Rating
C
3.8/5
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Pros

Customer loyalty programs
All major cards processed
POS and mobile solutions
Online gateway available
Virtual terminal services

Cons

Equipment leasing terms
Undisclosed fees reported
High termination fee ($299-$499)
Complaints of overcharging
Variable processing rates

Overview

In this review of FlashBanc, we provide a detailed overview of the company’s credit card processing services. We cover their offerings, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities, while noting which types of businesses may benefit most. The review also examines customer feedback to highlight common themes and concerns, along with details on pricing, contract terms, and specific features. By the end, you’ll have a clear understanding of whether FlashBanc is the right fit for your payment processing needs.

About FlashBanc

Founded in 2008 and based in Boca Raton, Florida, FlashBanc is a merchant services provider that offers payment processing and business solutions for small and medium-sized businesses. Its services include credit and debit card processing, point-of-sale systems, mobile payments, e-commerce integrations, and merchant cash advances. The company operated as an ISO of Wells Fargo and partnered with First Data before being acquired by Celero Commerce in 2020. FlashBanc’s sales model relies on independent agents, which has led to mixed reviews regarding pricing transparency and contract terms. It now functions as part of Celero’s broader service network.

Products & Merchant Services

Payment Processing

FlashBanc provides payment processing services for all major debit and credit cards across various business types. Their services include point-of-sale (POS) systems, EMV card readers and swipers, mobile payment solutions, ACH and e-check processing, e-commerce solutions, cash advances, and gift and loyalty programs.

POS System Solutions

FlashBanc’s POS system solutions go beyond basic credit card processing. These systems are capable of managing inventory, tracking sales, and streamlining the checkout process. They are designed to accommodate businesses of different sizes and sectors, including retail, restaurants, and hospitality.

Mobile Payment Processing

FlashBanc offers mobile payment processing for businesses that operate on the go. Using a smartphone or tablet, businesses can accept card payments with a secure, encrypted card reader.

Online Payment Gateway

To support eCommerce transactions, FlashBanc provides an online payment gateway. This service enables businesses to securely accept and process online payments. It supports various checkout options, including one-time payments and recurring billing.

Virtual Terminal Services

For businesses that handle mail or phone orders, FlashBanc offers virtual terminal services. This allows businesses to manually enter credit card details into a secure online form, processing payments without needing the physical card.

Customer Loyalty Program Solutions

FlashBanc also provides customer loyalty programs aimed at increasing customer retention and encouraging repeat business. These services include gift card programs and customer reward systems, giving businesses the tools to build and maintain customer loyalty.

Customer Reviews & Sentiment

Reviewing FlashBanc Customer Feedback

Our search revealed over 10 negative FlashBanc reviews, with some customers describing the company as a scam or ripoff. These reviews come from both clients and former or current employees. Client grievances often center around higher-than-expected processing rates, undisclosed fees, and unauthorized or incorrect withdrawals, sometimes even after account closures. Notably, there’s been an increase in complaint volume in the last two years, especially from merchants encountering similar issues. This trend has influenced a reduction in FlashBanc’s rating in this section. We encourage those with experiences with FlashBanc to share their reviews in the comments.

FlashBanc’s Legal and Regulatory Standing

No class-action lawsuits or FTC complaints have been identified against FlashBanc. For non-litigious dispute resolution, clients can consider reporting to relevant supervisory organizations.

Assessing FlashBanc’s Customer Support

FlashBanc’s website provides phone contact information, but it’s unclear if these lines are serviced directly by FlashBanc or by their partner, First Data (Fiserv). This lack of clarity impacts the perception of their customer support capabilities.

FlashBanc Contact Information

  • (800) 808-1622 – Toll-Free Customer Support
  • (800) 228-0210 – Terminal Help Desk
  • Customer support email at clientsupport@flashbanc.com

While FlashBanc offers several support channels, the effectiveness of these services doesn’t currently place them among top-rated payment processors for customer service. Enhancing transparency and efficiency in their customer support could improve their ranking.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop5
BBB Rating1
Google Maps3.5
Average Rating2.25

PaymentPop Rating for FlashBanc

Negative Feedback

There are no negative reviews published about FlashBanc on the PaymentPop website.

Positive Feedback

Getting started with FlashBanc was simple and to the point. The setup didn’t take long, and we haven’t had to chase anyone down for help. Payments go through without issue, and the platform’s been easy for our team to use.

FlashBanc BBB Rating

FlashBanc was formerly an accredited business with the Better Business Bureau since 2011 but is no longer accredited. As of this review, the company has an “A+” rating with the BBB and has had 0 complaints filed against it in the last 36 months. FlashBanc has a 1 out of 5 star rating based on 1 user reviews on the Better Business Bureau website.

What Merchants Say

FlashBanc has received 1 informal review on its profile. The 1 review calls FlashBanc a ripoff:

This organization ripped me off, lied to me, and stole money from me. DO NOT USE THEM

Clients in this situation should look into how to make their payment processor release their money.

An “A” Performance

Since FlashBanc has been in business for roughly seven years and is showing 0 complaints, we agree with the BBB’s rating as of this update. Business owners should still be aware, however, that there are good reasons to be skeptical of the BBB’s rating system.

Google Maps Rating for FlashBanc

FlashBanc has a 3.5 out of 5 star rating based on 26 user reviews on Google Maps.

Positive Feedback

Great customer service! Any concerns that i may have they answer, everything is perfectly outlined and explained. I highly recommend them!

Negative Feedback

Representative cancelled my service over a year ago. Sent machine back. Continued to charge me for over a year but charge on account camouflaged among other merchant service fees with no “Flashbanc” indication. I’ve reached out and they refuse to refund. Also emailed corporate and no one called me back. Charged me PCI charges for a machine I did not have. I will be filing a lawsuit.

Processing Rates & Fees

FlashBanc Contract Terms

The standard contract offered by FlashBanc through First Data (Fiserv) includes an early termination fee of $299, a monthly minimum fee of $25, a monthly statement fee of $9, a chargeback fee of $25, and employs a tiered pricing structure. Specifics regarding the contract length and PCI Compliance fees are not detailed in the available document, suggesting that FlashBanc likely proposes a multi-year agreement with an annual PCI Compliance fee.

Given First Data (Fiserv)’s extensive service range, FlashBanc’s contract conditions might adjust based on several factors, including a business’s scale, industry, and operational history. Rates provided under a standard First Data (Fiserv) agreement may include swiped and keyed-in rates starting from 2.69% plus $0.19 to 3.69% plus $0.19, respectively, with potential variations for businesses processing over $50,000 monthly. Contracts might also entail non-cancellable equipment leases through First Data Global Leasing.

Virtual Terminal and Payment Gateway Pricing

FlashBanc promotes virtual terminal and payment gateway services via Authorize.Net on its website. Standard terms through Authorize.Net, which FlashBanc might modify as a reseller, typically include a transaction rate of 2.90% plus $0.30, alongside a $25 monthly gateway fee and a batch fee of $0.15.

Early Termination Fee

There have been reports from merchants indicating that the early termination fee might be as high as $499, contrary to the stated $299, a discrepancy FlashBanc has not contested. FlashBanc clarifies that such fees are applicable primarily when it compensates for a client’s early termination fee with a previous processor upon transitioning to FlashBanc.

Industry-Average Terms

While the fees and rates associated with FlashBanc are considered industry average, a noticeable uptick in complaints concerning contract terms has been observed. This trend warrants a “C” rating for FlashBanc in this regard. Merchants are advised to meticulously review contract terms and seek clarifications where necessary to avoid unforeseen costs.

For more competitive rates and terms, business owners might find value in exploring our curated list of top merchant account providers.

Employee Reviews & Sales Practices

Outside Sales Staff

FlashBanc primarily markets its services through independent sales agents. This hiring practice is usually linked to elevated complaint rates among clients, as independent sales agents generally receive little training or oversight. We are currently able to locate more than 10 FlashBanc reviews from clients 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 FlashBanc complaints filed online by current or former FlashBanc sales agents. These employees describe poor agent support and delays in commission payments.

This does not compare favorably to our list of best credit card processors.

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 you are being charged undisclosed FlashBanc fees, we recommend seeking a third-party statement audit to find and eliminate hidden costs.

FlashBanc Competitors

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Bottom Line

FlashBanc rates as an above-average credit card processing provider according to our rating criteria. The company offers standard rates and fees through First Data (Fiserv), a well-known and reputable processor in the industry. However, despite its solid foundation, FlashBanc has been showing an increasing number of complaints online. These complaints primarily revolve around issues such as unexpected fees, contract terms, and customer service challenges. This trend is concerning and suggests that there may be underlying issues in the company’s operations or its handling of customer relations.

Business owners considering FlashBanc should exercise caution and ensure they fully understand the terms of any agreement before signing. It is crucial to compare FlashBanc’s pricing and contract conditions with those of top-rated merchant account providers to ensure they are getting the best possible deal. While FlashBanc has the potential to be a reliable payment processing partner, the growing volume of complaints suggests that merchants should remain vigilant and consider alternative providers if necessary. Thorough research and careful comparison of various providers will help business owners make informed decisions and avoid potential pitfalls.

Location & Ownership

FlashBanc is a registered ISO/MSP of Wells Fargo Bank, N.A., in Concord, California, and is located at 100 Westwood Place, Suite 200 Brentwood, TN 37027. Michael Gross is the CEO and co-founder, while Jason Wright is listed as the COO and Kevin Jones is listed as CEO of Flashbanc.

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