iFund420 Review

iFund420 Logo
full star full star full star full star full star

How did they treat you? ▼

5/26/19 Update: According to customer reviews, iFund420 has closed for businesses. CardPaymentOptions.com will no longer update this review but advises merchants seeking similar services to review our best accounts for companies in the cannabis industry.

Founded in January 2018, iFund420 (ifund420.com) is a small business financing company that claims to provide merchant accounts and banking services to medical marijuana dispensaries. The company appears to function as a DBA or subsidiary of Gravity Finance (gravityfinance.com), a business lender located in Scottsdale, Arizona. iFund420 is one of the few companies that openly advertises its ability to help merchants accept debit and credit cards through a conventional merchant account in partnership with a U.S. bank. This is rare due to the fact that Visa, MasterCard, and most national banks have gone on the record stating that they will not allow their networks to be used for marijuana transactions. iFund420 also advertises that it can process payments for CBD oil vendors and paraphernalia sellers.

Merchants who wish to inquire about iFund420's solution for cannabis businesses will need to sign a non-disclosure agreement in advance. Ryan McClain is the CEO of both iFund420 and Gravity Finance, which are both headquartered at 7702 E Doubletree Ranch Rd, Scottsdale, Arizona 85258. The company does not disclose its banking relationships on its website, and it's likely that it guards this information fiercely to avoid regulatory scrutiny.

Key Points

  • Sales & Marketing: iFund420 does not appear to hire independent resellers and has not received any complaints related to its sales practices.
  • Costs & Contract: iFund420 appears to offer variable contract terms depending on each merchant's business type and processing history.
  • Complaints & Service: iFund420 has received fewer than 10 public complaints.
  • BBB Rating: iFund420 does not have a profile with the Better Business Bureau at this time.
  • Rates & Fees: How Merchants Got The Best Rates With iFund420

iFund420 Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Complaints <10
Live Customer Support No
Most Common Complaint N/A

We are unable to locate any negative iFund420 reviews on any of the usual consumer protection forums, which is a positive sign that the company is not a ripoff or a scam. The only merchant feedback we have found for iFund420 is this positive testimonial, which states that iFund420 did indeed provide a domestic merchant account for the merchant’s medical marijuana dispensary. iFund420 likely has not accumulated many merchant reviews due to its very brief time in business, but it may also limit the scope of what merchants can post in its NDA. Any company with zero complaints would usually receive an “A” in this section, but we will refrain from issuing a score until we have more information. iFund420 does not list dedicated customer support contact information on its website, but it does offer a general contact number.

iFund420 Online Ratings

Here's How They Rate Online

The Better Business Bureau does not maintain a profile for iFund420 at this time. We therefore will not factor a BBB rating into this review.

iFund420 Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swipe Rate Variable
Keyed-In Rate Variable
Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Variable

There is very little publicly available information regarding the standard iFund420 contract at this time, and the company’s insistence that merchants sign an NDA before even inquiring about its merchant account solution severely reduces the chances that its pricing and fees will ever become available to the general public. However, iFund420 does claim that it can offer a legitimate merchant account through one of several U.S. banks to medical marijuana merchants. This merchant account will likely come with a per-transaction fee of more than 5% due to the high risk nature of marijuana sales, and there could be monthly fees, annual fees, termination fees, cash reserves, and equipment leases associated with the company’s standard account.

iFund420 uses the term “medical marijuana” in roughly half of its marketing copy and the unqualified “marijuana” in the other half, so it’s unclear whether the company can serve dispensaries that sell marijuana for recreational purposes. While we cannot speak to the actual details of the company’s contract at this time, we do advise merchants to ensure that the NDA enforced by the company does not limit their ability to post about the service they receive in public forums such as CPO. iFund420 has a legitimate reason for limiting the public disclosure of its products and banking relationships, but it should not be allowed to control merchant feedback regarding its pricing or customer service. You should not agree to an NDA that limits your ability to warn other merchants about poor service.

In the absence of any complaints about its pricing, we would ordinarily issue a provisional rating of “A” in this category. However, iFund420’s brief time in business inclines us to withhold a rating for now. If you have any information about the standard iFund420 contract, please share it in the comment section below this review.

iFund420 Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers No
Promotes Deceptive Rate Quotes No
Discloses All Important Terms No

iFund420 appears to be a very small operation that relies on digital advertising and referrals to market its services. The company is less than six months old and does not employ a large team of independent sales agents at this time. iFund420 is not very forthcoming about its products, services, or pricing, which may be a tactic for avoiding the unwanted attention of regulators. It has not received any complaints from merchants regarding its sales practices, which is a good sign for any company.

iFund420’s marketing copy claims that the company can provide domestic merchant accounts for cannabis sellers. The ability to process payments through a domestic bank requires either a close relationship with a bank employee who is willing to look the other way or the intentional miscoding of a merchant’s business type. Both approaches are risky and unstable, so it’s rare to see a credit card processor openly advertise this service. However, we have seen no complaints that suggest that iFund420’s advertising is misleading. We will withhold a rating at this time due to the company’s short time in business.

Our iFund420 Review Summary

Our Final Thoughts

We are withholding an overall rating for iFund420 at this time due to the company’s brief time in business and a lack of information about its policies. However, the company shows promise as a domestic merchant account solution for medical marijuana dispensaries. The cannabis industry is extremely underserved at this point in time, so any solution that enables dispensaries to reliably accept credit cards offers a huge value to merchants. We will continue to monitor merchant feedback about iFund420 and issue an overall rating once we feel we have a good sense of its service.

If you found this article helpful, please share it!

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 iFund420 Treat You?

1 User Reviews

  • Brooks Jane

    Wow, I just had to drop a quick note of appreciation for iFund420! This platform is a game-changer for cannabis entrepreneurs like me. From the moment I signed up, the user-friendly interface made navigating through investment opportunities a breeze. The range of cannabis-related projects available is impressive, and I found the perfect match for my investment goals.

    What truly sets iFund420 apart is their excellent customer support. Any questions or concerns I had were promptly addressed, and their team went above and beyond to ensure I had a smooth experience. Thanks to iFund420, I’ve connected with like-minded investors and discovered promising ventures that align with my interests.

    If you’re looking to venture into the cannabis industry and seek investment opportunities, I highly recommend giving iFund420 a shot. It’s a reliable, trustworthy, and exciting platform that has certainly earned my confidence and investment.

Tell Us How They Treated You

Sharing your experience influences our rating and helps other business owners make informed decisions. Please take a moment to tell us if they are serving you well. Your email address will never be published, shared or sold. We only use it to authenticate that you are a real person and, if you select the option for it, to let you know if someone replies to your comment. Required fields are marked *

Comments must contain details about your experience. Please do not use ALL CAPS. Self-promotion, marketing content, or contact information of any kind will not be published. By submitting a comment, you are agreeing to our Comment Policy


Copyright © 2024 CardPaymentOptions.com, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.

Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with CardPaymentOptions.com, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.