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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.
In this review of Merchants Bancard Network, we provide a clear look at the company as a merchant account provider serving a variety of businesses. Our analysis covers their rates, fees, contract terms, and the equipment and support they make available to clients. We also examine customer and industry feedback, including common complaints, employee insights, and user reviews, while assessing the company’s marketing tactics. In addition, we review MBN’s extra services, partnerships, and special programs, along with their legal history and customer support, to give business owners a balanced picture of how the company operates within the payment processing industry.
Merchants Bancard Network (MBN) processes major credit and debit card payments for a wide range of business types, including those considered high-risk. Their services include Clover POS and mobile systems, an online payment gateway, cash discounts, mobile wallets, and recurring billing.
Equipment and Support
MBN offers point-of-sale (POS) equipment from leading brands at discounted prices. The company provides in-house support and free PCI compliance.
Additional Services
In partnership with Lendio, MBN offers access to small business capital. They also provide a cash discount dual pricing program designed to help merchants eliminate interchange costs.
Customer Reviews & Sentiment
Analysis of Merchants Bancard Network Reviews
We have identified over 40 negative reviews of Merchants Bancard Network across consumer protection sites and the comment section of this review. Complaints frequently mention misrepresentation or lack of clarity regarding contract terms, challenges in contacting customer service, unauthorized charges, and obstacles faced when attempting to cancel accounts. It’s worth noting that many grievances were directed at the company under its possible former name, iMAX Bancard Network, hinting at a rebranding effort. More than half of these complaints have elicited responses from the company, though the effectiveness of these replies varies. We encourage you to share your experiences with Merchants Bancard Network in the comments below.
Customer Support Services at Merchants Bancard Network
Merchants Bancard Network provides a range of support options on its website, including phone lines and email contacts for customer assistance.
Industry Scores & User Ratings
Online Ratings Summary
PaymentPop
1
BBB Rating
3.35
Google Maps
3.7
Average Rating
3.52
PaymentPop Rating for Merchants Bancard Network
Negative Feedback
They used the third party to scam you. They used a company called DBC refund paf to trick you sign the contract using the merchant. Then they send you a big bill to pay. I am in the process to file a small court claims to get my money back. If anyone knows where to send in the letter, please let me know.
Positive Feedback
There are no positive reviews published about Merchants Bancard Network on the PaymentPop website.
Merchants Bancard Network BBB Rating
Merchants Bancard Network has an “A+” rating with the BBB and has been an accredited business since 2011. The company’s profile is currently showing 20 complaints in the last 36 months. Merchants Bancard Network has a 3.35 out of 5 star rating based on 20 user reviews on the Better Business Bureau website.
What Merchants Say
Merchants Bancard Network has also received 21 informal reviews to its BBB profile, 8 of which were negative in tone and 13 of which were positive in tone. Almost all of the positive reviews come from within the same few-month period, which is somewhat suspicious, but it may be simply a campaign from the company to get its customers to leave a review. The most recent negative complaint deals with issues closing an account:
Worst company iv done business with. I am struggling to cancel them though iv sent requests and called many times for several months. Each time they run me through some speech that it’s being sent to management. I will be filing a complaint and reporting them to my bank as they continue to charge me. Do not ever use this company! Untrustworthy and were problematic the entire time I used them but I was stuck in a contract. I would not trust this company with your businesses card processing.
Given the fact that the company’s old BBB page was essentially wiped clean, we are adjusting its grade to a “B” for the time being.
Google Maps Rating for Merchants Bancard Network
Merchants Bancard Network has a 3.7 out of 5 star rating based on 145 user reviews on Google Maps.
Positive Feedback
I think they are great. I’ve been working with them for almost 2 years. Rates are fair. Never had any issues getting my money. Had support available to me 24/7. When I called them last minute to get a second terminal, which I needed immediately, they had it to me before the end of the week.
Negative Feedback
Terrible unorganized company. I have had to spend so much time on the phone with them and they don’t seem to want to help. They have no internal communication, and have cost me too much time and money. They are just thieves and lock you into a contract. DO NOT DO BUSINESS WITH THIS COMPANY. I still have to endure for about another year and a half.
Processing Rates & Fees
In-Person Point of Sale
For in-person transactions, MBN charges $0.10 per transaction with a monthly fee of $10. They provide in-house support, transparent pricing, free PCI compliance, and assure no hidden fees.
Card Not Present Transactions
For transactions where the card isn’t present, the cost is $0.20 per transaction, with a monthly fee of $20. This plan also includes in-house support, transparent pricing, free PCI compliance, and no hidden fees.
Cash Discount Program
MBN offers a cash discount program with no transaction cost and a monthly fee of $25. Like other plans, it includes in-house support, transparent pricing, free PCI compliance, and no hidden fees.
Three-Year Agreement
Merchants Bancard Network’s contract may involve a three-year agreement via First Data (Fiserv), with automatic renewal on a month-to-month basis. Typical First Data (Fiserv) rates include 2.69% + $0.19 for swiped transactions and 3.69% + $0.19 for keyed-in transactions. However, as a reseller, MBN retains the right to modify terms, evident from a $250 early termination fee and an annual fee of $89, separate from the monthly PCI compliance fee. The early termination fee may rise to nearly $1,000 in certain cases. These terms are less competitive compared to other merchant accounts.
Unexpected Rate Adjustments
Some clients report notices of MBN “rate increases” after the first month, possibly due to deceptive rate quoting. It’s likely that the initial rate presented at contract signing differs from the effective rate after a month of billing. We advise business owners to review our list of the top merchant services.
Long-Term Leasing
Several complaints mention costly, non-cancellable equipment leases through First Data Global Leasing, obligating clients to pay the full contract regardless of equipment return. Overall, these terms receive a “D” rating compared to industry averages.
Merchants Bancard Network offers point-of-sale solutions via Fiserv’s Clover family of products
Lawsuits & Legal History
In May 2020, a class-action lawsuit was filed against Merchants Bancard Network for alleged violations of the Telephone Consumer Protection Act, which was settled in 2021. Those looking for resolutions without litigation are advised to report their issues to relevant supervisory bodies.
Employee Reviews & Sales Practices
Outside Sales Team
Merchants Bancard Network appears to use telemarketing and independent sales agents to market its services. The use of independent sales agents is often linked to elevated complaint rates among clients, as ISAs are generally untrained and receive little oversight. We are able to locate multiple Merchants Bancard Network reviews that mention nondisclosure by agents, lack of follow-through on altered contract terms, and misrepresentation of the agent’s identity over the phone. This does not compare favorably to our list of best credit card processors.
Deceptive Rate Quotes
At the time of an earlier review, the Merchants Bancard Network rates on their website featured a quote of “low rates from 1.19%” on its homepage. We consider this type of rate quoting to be deceptive, as it might lead business owners to have an unrealistically low expectation of the rates they’ll pay. The company appears to have removed these quotes from its website, but clients should be aware that they may still appear in the company’s advertising materials.
Misleading Contractual Language
We have found a 2018 Merchants Bancard Network complaint from a business alleging that they were charged an early termination fee despite their contract listing an early termination fee of $0. The document, which can be seen below and here, does indeed list “$0” in the “Early Termination Fee” box. However, it also contains the following language in Section 9 lower on the page:
In the event that Client terminates or breaches the terms of this Agreement before the end of the initial three (3) year term, Client shall be obligated to immediately pay Acquirer or its representative, as liquidated damages, an early termination fee in addition to any other monthly fees in the Merchant Processing Agreement for the remaining term of the Agreement.
The business claims to have been charged over $960 for cancellation, which indicates that even a clear “$0” in the “Early Termination Fee” section of the Merchants Bancard Network contract isn’t enough to protect clients from a very large cancellation penalty. In our opinion, this is a highly deceptive practice that warrants a “D” rating in this section. If you suspect that Merchants Bancard Network is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden fees.
The Merchants Bancard Network contract we received
Merchants Bancard Network Competitors
Compare Merchants Bancard Network to competitors that earned top marks.
Merchants Bancard Network currently holds a substandard rating as a credit card processing provider. This rating reflects ongoing concerns that persist from the company’s days as iMAX Bancard Network, during which it accumulated a higher-than-average volume of complaints. The transition to the new name, Merchants Bancard Network, has not significantly altered the nature of the complaints received, suggesting that the rebranding did not come with substantial changes in policy or practice. As the company’s new Better Business Bureau (BBB) profile begins to accumulate more client feedback, we will have a clearer picture of whether any meaningful improvements have been made, which could potentially influence the company’s overall rating.
It is important to highlight the potential for confusion between Merchants Bancard Network and Merchant Bankcard, another entity in the credit card processing industry. Despite the similarity in names, these two organizations are unrelated. This distinction is crucial for businesses to recognize when evaluating service providers, as mixing up the two could lead to misinformed decisions based on inaccurate assumptions about their service quality and reputation.
Merchants Bancard Network offers point-of-sale solutions via Fiserv’s Clover family of products
