Funds Transfer Alliance Review
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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.
Funds Transfer Alliance
Rating
Customer Reviews & Sentiment
We are currently able to locate over 20 Funds Transfer Alliance negative reviews, many of which accuse the company of being a ripoff or a scam. The majority of these complaints have been posted to a telemarketing complaints forum and describe aggressive or rude interactions, high-pressure tactics, and frequent hangups. Complaints filed outside of this forum list higher-than-expected costs, undisclosed lease terms, and deceptive sales tactics. One merchant reported receiving a deceptive telemarketing call from a representative explaining that they were not making a sales call. When the representative was pressed by the merchant to explain how it wasn’t a sales call, the agent froze and was unable to provide an answer. Overall, Funds Transfer Alliance’s sales force does not appear to be exceptionally trustworthy, which has lowered the company’s score in this section.
Industry Scores & User Ratings
| Product & Service Complaints | 0 |
|---|---|
| Billing & Collection Complaints | 0 |
| Advertising & Sales Complaints | 1 |
| Guarantee & Warranty Complaints | 0 |
| Delivery Complaints | 0 |
As of this review, the Better Business Bureau is reporting that FTA is not accredited and has an “A-” rating. The company’s lone complaint is attributed to an advertising or sales issue (which seems to mirror the telemarketing issues mentioned earlier in this review). This complaint did not receive a response from FTA. Considering FTA’s low complaint total and complete failure to address the complaints it has received, we agree with the BBB‘s rating at this time.
Processing Rates & Fees
FTA appears to customize fees and contract terms based upon varying merchant needs. However, a representative stated that the standard agreement is three years with no cancellation fee. Merchants should read their contracts closely before for signing with FTA, because a three-year agreement without a cancellation fee is not typical of this industry. Additionally, we have located some merchant complaints that do mention an early termination fee of up to $299, so it might be that some of the company’s contracts do include one. It’s also entirely possible that FTA charges PCI Compliance fees and monthly minimum fees.
One consistently reported complaint about FTA has to do with its equipment leases through First Data Global Leasing. Multiple merchants report signing up for service through FTA for three years, only to find that they have also been locked into a non-cancellable, 48-month equipment lease. The company enforces the last year of the equipment lease in these situations. Although we lack specific information regarding FTA’s contract terms at this time, it does appear that many of the company’s clients are dissatisfied or at the very least disappointed with their costs through FTA. If you have any knowledge of the company’s contract terms, please share that information in the comment section of this review.
Funds Transfer Alliance Competitors
Compare Funds Transfer Alliance to competitors that earned top marks.
Bottom Line
Funds Transfer Alliance rates as a substandard merchant services provider according to our rating system. The company appears to be using a few “smoke and mirrors” tactics in its sales process, and it has seen a corresponding increase in complaints. The BBB has raised its rating for the company since our last update, but at this time there is very little to recommend Funds Transfer Alliance to merchants. The company seems to be having some serious transparency issues and is doing a poor job of earning its potential customers’ trust.
