Group ISO Reviews & Complaints

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3.5
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Pros & Cons
Pros: Cons:
In-house services Cancellation penalties
Tailored solutions Monthly fees
PCI-compliant Variable rates
Competitive rates Equipment leasing
24/7 support Fund-hold issues

Overview

In this article of Group ISO, a merchant account provider based in Newport Beach, California, we'll examine their operations and services. We'll cover details of the company's rates and fees, and discuss the impact they could have on your business. Understanding contract terms with Group ISO is important, so we provide insights to guide you through their specifics. We'll also look at common complaints against the company, giving you a clear picture of potential challenges. Industry ratings and employee reviews are assessed to offer a rounded view of the company's reputation and workplace environment.

We will evaluate Group ISO's marketing tactics and how they affect consumers and businesses. User reviews are examined to understand real customer experiences. A section on Group ISO's payment processing capabilities highlights their range of services, including EMV card readers, POS systems, and e-commerce solutions. We will investigate the company's history, ownership, and connections with other entities in the industry.

A balanced view of the pros and cons of partnering with Group ISO is provided to help you weigh their services against your business needs. We will also address the recent Visa & MasterCard lawsuit settlement and its impact on merchants. Group ISO's approach to customer support is critiqued, along with a detailed look at their processing costs. Lastly, we give an overview of Group ISO's online ratings and legal history, including their handling of high-risk clients and fund-hold issues. Our analysis culminates in a verdict on whether Group ISO is a good choice for your business's credit card processing needs.

About Group ISO

Group ISO is a merchant account provider headquartered in Newport Beach, California. The company is a reseller of Merrick Bank‘s merchant services.

Group ISO Payment Processing

Group ISO processes all major debit and credit cards for most business types. Their services include EMV card readers and swipers, POS systems, mobile solutions, access to virtual terminals, other e-commerce solutions, recurring billing, Level 2 and 3 processing, and EBT and NFC payments.

Group ISO Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints 15+
Live Customer Support Yes
Most Common Complaint Fund-Holds
Recent Lawsuits No

Low-Moderate Complaint Volume

Our search has revealed over 15 Group ISO reviews, with some labeling the company as a ripoff or a scam. Common complaints include fund-holds during service and after termination, rate increases, and abrupt account cancellations. Many of these complaints seem to originate from high-risk business types who may not have fully grasped Group ISO’s reserve account policy. While this doesn’t constitute a breach of contract or unethical behavior by Group ISO, improved merchant education on the cash reserve policy could potentially mitigate some of these grievances. If you have your own Group ISO review to share, please feel free to do so in the comments below.

Group ISO Lawsuits and Fines

No outstanding class-action lawsuits or FTC complaints have been found against Group ISO. Dissatisfied clients seeking non-litigious resolutions with the company are advised to consider reporting their concerns to the relevant supervisory organizations.

Group ISO Customer Support Options

The Group ISO website provides a dedicated phone number and an email contact form for merchant support, though it is not currently regarded as a top-rated payment processor for customer service.

Group ISO Customer Service Numbers

  • (800) 960-0135 – Client Support
  • (800) 722-4476 – Sales
  • (800) 960-0135 – Agent Support

Group ISO Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Reports 1

One BBB Complaint

Group ISO has been an accredited business with the Better Business Bureau since 2009. As of this review, the company is showing an “A+” rating. Group ISO has received just 1 complaint to its BBB profile in the past 36 months. This complaint was resolved to the dissatisfaction of the client or received no final communication.

An “A” Performance Overall

The company is also not showing any informal reviews on its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB. Given this information, we agree with the BBB’s rating.

Group ISO Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates 1.00% - 4.99%
Equipment Leasing Yes

Group ISO Contract Terms

The standard Group ISO merchant application and program guide outline a three-year agreement with First Data (now Fiserv), involving a $300 early termination fee, a $25 monthly minimum fee, a $0.20 batch fee, a $25 chargeback fee, and a $10 monthly statement fee. Although a company representative suggests the potential waiver of the early termination fee, the contract typically remains three years. Moreover, Group ISO’s rates don’t incorporate a PCI compliance fee, and the monthly fee is negotiable based on business volume. While standard terms may vary, it’s advisable for business owners to negotiate for favorable conditions. Group ISO recently transitioned from First Data (Fiserv) to Merrick Bank as its primary backend processor, which might affect standard pricing and fees.

Virtual Terminal and Payment Gateway Pricing

In addition to storefront payment processing, Group ISO promotes its virtual terminal and payment gateway services on its website. However, specific pricing for these services isn’t disclosed. Generally, additional rates and fees, including gateway fees, technical support fees, batch fees, and transaction rates, apply to e-commerce services.

Level 2 and Level 3 Processing Services

Group ISO offers Level 2 and Level 3 processing for B2B and B2G transactions, relying on different interchange rates than consumer credit transactions. These services require specialized payment processing technology to transmit the necessary data for such transactions, catering to corporate credit card usage in B2B and B2G transactions.

Fund-Hold Issues

Online complaints regarding Group ISO mainly revolve around fund-hold concerns. While not prominently advertised, Group ISO extends services to high-risk and offshore merchant accounts, prone to chargebacks and fraud. Consequently, establishing a cash reserve by the processor is customary. However, Group ISO sometimes fails to adequately inform clients about reserve account establishment, leading to misunderstandings and dissatisfaction.

High-Risk Client Expectations

Group ISO exercises discretion in determining whether to establish large reserve accounts for high-risk clients, a common practice in the industry. Businesses operating in high-risk sectors should anticipate fund withholding under certain circumstances. In such cases, businesses may benefit from partnering with a reputable high-risk merchant account provider.

Check Out the Best Merchant Services

We encourage business owners to explore our curated list of the best merchant services to make informed decisions for their businesses.

Group ISO Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers Yes
Telemarketing Possible
Misleading Marketing No
Discloses All Important Terms No

Independent Sales Agents

Group ISO advertises that it employs a network of independent sales agents to market its services. A central tenet of the company’s mission statement appears to be its dedication to providing adequate training and support for its independent agents, which suggests that Group ISO may avoid many of the problems that generally accompany this hiring practice.

This compares favorably to our list of best credit card processors.

Sales Complaints

We are currently able to locate a handful of Group ISO reviews that describe sudden rate increases above the figures initially quoted, but this does not appear to be a major problem for the company. Overall, people are not accusing Group ISO agents of unethical sales practices, and the company does not appear to engage in deceptive advertising in its official materials. Still, if you suspect that Group ISO rates are not as advertised or they are charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Our Group ISO Review Summary

Our Final Thoughts

Group ISO, as a reseller of Merrick Bank’s merchant services, exhibits a relatively low volume of customer complaints, which suggests a satisfactory level of service for many of its clients. Nevertheless, concerns such as unexpected fund holds and unexplained fee increases highlight a need for more transparent communication from the company. The pricing structure is often considered higher than the industry average, a significant factor for cost-conscious businesses.

The support provided to Group ISO’s customers likely leverages Merrick Bank’s infrastructure, ensuring a dependable level of service due to Merrick’s extensive resources. However, this may also result in less personalized support tailored to the unique aspects of Group ISO’s offerings. For businesses contemplating Group ISO’s services, it’s crucial to conduct a thorough review of the contract terms, comparing them against those offered by top-rated providers in the industry, focusing not just on pricing but also on the specifics of the service, flexibility of the contract, and quality of customer support.

Location & Ownership

Founded in 2001, Group ISO is a registered ISO of Commercial Bank of California, Irvine, CA, and is headquartered at 20062 SW Birch St. #300, Newport Beach, CA 92660. Mike Segura is listed as the CEO and co-founder of Group ISO. Group ISO is mentioned in complaints that have been filed against a Canoga Park, California-based company called American Verification Processing Solutions (AVPS). The CEO of AVPS is Tiffany Segura. At this time, the relationship between Group ISO and AVPS (and the relationship between Mike Segura and Tiffany Segura) is unclear. However, there is some evidence that the two companies may be linked.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Group ISO Treat You?

2 User Reviews

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