Global 1 Wholesale Merchant Services, Inc. (global1wms.com) is a merchant account provider headquartered in Las Vegas, Nevada. Founded in 2006, Global 1 Wholesale Merchant Solutions is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, with headquarters located at 4340 S Valley View Blvd., Suite #224 Las Vegas, Nevada 89103. Ken Einiger is listed as the owner of Global 1 Wholesale Merchant Services.
- Sales & Marketing: Global 1 Wholesale Merchant Services appears to hire independent sales representatives and has received a few complaints about its sales practices.
- Costs & Contract: Global 1 Wholesale Merchant Services offers either a month-to-month or multi-year contract depending on whether a merchant accepts free equipment upon account activation.
- Complaints & Service: Global 1 Wholesale Merchant Services has received more than 10 public complaints.
- BBB Rating: Global 1 Wholesale Merchant Services currently has an “A+” rating with the Better Business Bureau and has received zero complaints in the last three years.
- Rates & Fees: How Merchants Got The Best Rates With Global 1 Wholesale Merchant Services
Sales & Marketing
Key Points - Sales & Marketing
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||No|
|Discloses All Important Terms||No|
Global 1 Wholesale appears to primarily market its services through traditional advertising and independent sales agents (described in the company’s job listings as “partners”). The use of independent sales agents is commonly linked to high complaint rates, as independent reps typically receive less oversight and training than in-house, fully employed agents. In this case, we have found only two Global 1 Wholesale negative reviews that describe deception or incompetence by the company’s sales agents. This total is lower than average for a company of its size.
The company’s homepage and other pages on its site previously quoted “rates as low as 1.15%” per transaction and “5¢ transactions.” These rates were most likely the company’s fees for Qualified or PIN debit transactions, but they did not include the Mid-Qualified and Non-Qualified rates that merchants will pay for the majority of transactions. The company has since revised this language to advertise rates “as low as 0.25%” and “3¢ transaction.” A company representative has stated in the comment section of this review that this is the company’s interchange-plus rate, which is extended to any merchant who owns his or her equipment. This rate quote is consistent with average interchange-plus rate quotes throughout the industry and therefore does not appear to be deceptive. We will assign the company an “A” rating in this category as a result.
Global 1 Wholesale Merchant Services Marketing Example
Costs & Contract
Key Points - Costs & Contract
|Early Termination Fee||Variable|
|PCI Compliance Fee||Variable|
|Equipment Lease Terms||Variable|
There is very little information available regarding the standard Global 1 Wholesale Merchant Services contract at this time. The company’s website promises no termination fees, no setup fees, and no contracts, but we have found two merchant complaints (here and here) claiming that the company signs merchants up for non-cancellable multiyear agreements. A company representative has stated in the comment section below that Global 1 offers two different sets of contract terms depending on whether a merchant receives free equipment from the company. Merchants who own their equipment are eligible for interchange-plus pricing with month-to-month contracts and no early termination fee. Merchants who receive a free terminal from Global 1 can expect a multiyear contract with tiered pricing of 1.65% (Qualified), 2.49% (Mid-Qualified), and 2.9% (Non-Qualified). This agreement also comes with an early termination fee of $495, and the company charges a $25 monthly minimum fee.
It is common within the industry for providers to require a multiyear contract in exchange for providing free equipment, so we will not penalize Global 1 too harshly for this stipulation. The fact that its standard agreement is interchange-plus with month-to-month renewal has also helped to raise its grade in this category. Overall, the low complaint rate regarding the company’s costs and terms is a solid indicator that the majority of Global 1 Wholesale merchants are satisfied with the service they receive. If you have any knowledge of the standard Global 1 Wholesale contract, please share that information in the comment section below this review.
Complaints & Service
Key Points - Complaints & Service
|Total Online Complaints||10+|
|Live Customer Support||Yes|
|Most Common Complaint||Poor Service|
We’ve found more than 10 negative Global 1 Wholesale Merchant Services reviews on various consumer protection websites, and a few of these complaints describes the company as a scam. However, at least five of the available complaints were all posted exactly two weeks before this update, which suggests either a single person posting multiple complaints or a coordinated defamation campaign. These recent complaints don’t cite any specific issue beyond poor customer service, which makes them even more suspect. We will not factor them into the company’s grade for now.
This leaves Global 1 Wholesale with a low complaint volume for a company of its size, and there are also a few scattered positive testimonials to be found online. Common themes among complainants include difficulty cancelling service without paying a fee and nondisclosure of contract terms by Global 1 sales reps. Global 1 advertises 24/7 customer service and provides a phone number on its website for merchants to call, and it appears that this helps to resolve most complaints against the company in-house.
Key Points - BBB
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
Global 1 Wholesale currently maintains an “A+” rating with the Better Business Bureau and has been accredited since 2007. The company is showing zero complaints in the past three years. It also has received one positive informal review, although it should be noted that these are not always subject to verification. In light of these figures, we agree with the BBB‘s rating.
About Phillip Parker
Hi, I’m Phillip Parker and I believe that the merchant account industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. I created this website to help you avoid the bad players, save money on fees, and get peace of mind with your merchant account. If you would like to help support my work, check out my cost analysis service. I can evaluate your statement and tell you exactly how much you're overpaying for your merchant account. Get more information here.Schedule a Consultation with Phillip
Related: Phillip’s Top All-Purpose Merchant Account Picks
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