Updated 1/30/2019: The website for Funds Transfer Alliance is no longer active, and the company's Facebook page states that it is permanently closed. It is likely that the full Funds Transfer Alliance portfolio was absorbed by the BluePay brand, but it is also possible that Funds Transfer Alliance is still active under a different name. If you have any knowledge of Funds Transfer Alliance's current status, please share that information in the comment section below this review.
Funds Transfer Alliance (the-fta.com) is a merchant account provider based in Phoenix, Arizona. Although Funds Transfer Alliance (FTA) has a very official-sounding name, this company is simply an independent sales organization much like most other merchant services providers. Funds Transfer Alliance claims to have been founded in 1999, but other sources show that it was incorporated in 2007, so the exact founding date is unclear. It also appears that Funds Transfer Alliance was acquired by BluePay at some point in late 2011. FTA uses First Data as its primary card processor but may use others depending on a merchant’s processing needs. Funds Transfer Alliance is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, with headquarters at 10429 S. 51st Street #100, Phoenix, Arizona 85044. Brian Martin is listed as the CEO of Funds Transfer Alliance.
Funds Transfer Alliance Customer Reviews
Here's What Their Clients Say
|Total Online Complaints
|Live Customer Support
|Most Common Complaint
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.
Funds Transfer Alliance Online Ratings
Here's How They Rate Online
|Product & Service Complaints
|Billing & Collection Complaints
|Advertising & Sales Complaints
|Guarantee & Warranty Complaints
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.
Funds Transfer Alliance Fees, Rates & Costs
A Closer Look at The Contract
|Early Termination Fee
|$299 or None
|PCI Compliance Fee
|Equipment Lease Terms
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 Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers
|Advertises Deceptive Rates
|Discloses All Important Terms
FTA’s biggest area of concern for this reviewer is with the company’s marketing strategy. There is evidence that this provider relies mostly on outbound telemarketing and sometimes uses slightly deceptive tactics with their calls. These tactics include posing as Visa/MasterCard representatives and attempting to convince merchants that they have been flagged as overpaying for credit card processing services and telling merchants that it is not a sales call, even though it clearly is one. There are also numerous merchant complaints about FTA failing to disclose the one-year difference between the company’s processing agreement (36 months) and its lease terms (48 months). Merchants report paying more than they had expected upon signing and not being able to get out of their agreements despite having been misled.
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