Maverick Bankcard Overview
Maverick Bankcard (maverickbankcard.com) is a merchant account provider headquartered in Aguora Hills, California. Launched in 2000, Maverick BankCard offers merchants the ability to process debit cards, credit cards, ACH checks, EBT, loyalty cards, and more with a focus on serving high risk business types. Maverick also provides point-of-sale terminals, online e-commerce gateways, recurring billing, fraud detection, mobile payment solutions, cash advances, and high risk merchant accounts. The company is located at 28720 Roadside Drive, Suite 101, Agoura Hills, California 91301.
Multiple online merchant complaints state that Maverick Bankcard and BankCard USA are either the same company or a parent company and its subsidiary, but representatives of both companies have vehemently denied any existing connection between their organizations. The confusion appears to result from the fact that the two companies shared senior management at one time, since the father of a Maverick Bankcard account manager served as the principal at BankCard USA from 2000 to 2011. In addition, the two companies are located within the same building but have different suite numbers.
For the purposes of this review, we will take the company representatives at their word and treat the two companies as separate entities, but merchants should be aware that some kind of connection appears to have existed at one point.
Maverick BankCard Sales & Marketing Tactics | A-
Maverick BankCard appears to partner with independent agents and resellers to market its services, although whether or not these agents are W2-employed is unclear at this time. We are currently able to locate two negative Maverick BankCard reviews that describe nondisclosure of fees or misrepresentation of rates by the company’s sales agents, but these complaints represent a small percentage of the total number of complaints filed against Maverick BankCard. In addition, the company’s official materials do not appear to utilize deceptive advertising strategies.
Maverick BankCard Costs & Contract Terms | B-
Since Maverick BankCard provides high risk merchant accounts to many different kinds of businesses, the company’s contract terms will likely vary greatly depending on a merchant’s size, business type, and time in business. We have located a sample Maverick Bankcard contract through First Data that includes a $195 early termination fee, a $25 monthly minimum fee, a $25 chargeback fee, and a monthly service fee of $10, but it’s unknown whether these costs are standard or even current. The document does not list a PCI Compliance fee, although it’s worth restating that the contract terms provided to each merchant may vary greatly.
Most complaints about Maverick BankCard appear to be related to the company’s fraud prevention policies, which include the right to establish a cash reserve and the right to freeze an account if a transaction appears suspicious. These complaints are common among high risk merchant services providers, as they are necessary to protect a business from fraudulent payments. In this case, however, it does seem as though Maverick BankCard could prevent some of these complaints ahead of time by explaining its fraud prevention policies more clearly to merchants.
Maverick BankCard Complaints & Service | B
We are currently able to locate at least 10 complaints about Maverick BankCard on other consumer protection websites, some of which accuse the company of being a scam or a ripoff. Many of these complaints also mention Bankcard USA. Common themes among complainants include the withholding of funds, poor customer service, difficulty cancelling service, and undisclosed or unauthorized fees. Some of these complaints appear to be the result of merchant misunderstanding, as high risk merchant accounts are generally subject to fund withholding. Overall, this complaint rate is low for the company’s size, but we still encourage any merchant to do careful research before signing up for service through Maverick Bankcard.
Maverick BankCard BBB Report | N/A
Maverick BankCard does not have a profile with the Better Business Bureau (BBB) at this time. We will therefore not factor a BBB rating into the company’s overall score.
Maverick BankCard rates as a decent processor according to our criteria. The company is showing a fairly low complaint rate at this time, but its contract terms may vary depending on a merchant’s business type and processing history. Merchants should also understand that the information linking the company to BankCard USA may be outdated at this time.
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