Maverick Bankcard Review

Overview

High Risk Specialists

Maverick Bankcard (maverickbankcard.com) is a merchant account provider that primarily offers high risk merchant accounts. Launched in 2000, the company is located at 26565 Agoura Rd #305, Calabasas, California 91302. Alan Griefer is listed as the CEO of Maverick Bankcard, which is a registered ISO/MSP of Esquire Bank, Garden City, New York, and a registered ISO of Mission Valley Bank, Sun Valley, California.

Former BankCard USA Affiliation

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 were previously located within the same building but had different suite numbers.

New Evidence Surfaces

Prior to an August 2017 update of this review, we took the company representatives at their word and treated the two companies as separate entities. However, new evidence has come to light that strongly suggests that our original suspicion was accurate. In a complaint filed in July 2016 against Maverick Bankcard’s Better Business Bureau page, a company representative replied to the merchant’s complaint by stating, “A lot of times, merchants GOOGLE their processor’s info, under ‘BankCard’ because that is what appears on their statements and since our company name is BankCard USA, we are the #1 GOOGLE search.” The response is also signed by “BankCard USA.” It is difficult to understand why BankCard USA’s customer service department would address new BBB complaints filed against Maverick Bankcard unless an operational or personnel overlap persisted between the two companies at least well into 2016.

Maverick Bankcard Review Table of Contents

  • Sales & Marketing: Maverick Bankcard doesn’t list any misleading rate quotes on its website or receive complaints about deceptive sales tactics.
  • Costs & Contract: Maverick Bankcard offers flexible contract terms and is capable of serving merchants in high risk industries.
  • Complaints & Service: Maverick Bankcard has received a high number of verified, positive testimonials and a low number of complaints.
  • BBB Rating: Maverick Bankcard has received two complaints with the Better Business Bureau and has an “A+” rating.
  • Rates & Fees: How Merchants Got The Best Rates With Maverick Bankcard

Maverick Bankcard Products and Services

Industries

  • Retail
  • E-commerce
  • Mobile
  • MOTO
  • High Risk

Response from Maverick Bankcard

The founder and current CEO of Maverick BankCard, Alan Griefer, was a co-founder of
BankCard USA but in 2011 Alan left Bankcard USA and started Maverick BankCard which is a
completely separate, unaffiliated entity. Ironically, both companies did have offices in the same building in Agoura Hills, but both companies have recently moved. Maverick BankCard is now
headquartered in Calabasas, CA while appears Bankcard USA is in Westlake Village.

a

Sales & Marketing

Key Points - Sales & Marketing

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

Inside and Outside Sales Reps

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 reviews posted about Maverick BankCard.

No Deceptive Quotes

As an additional point in Maverick Bankcard’s favor, the company’s official materials do not appear to utilize deceptive advertising strategies. We do not see any serious red flags with Maverick Bankcard’s sales approach at this time, but if you suspect that the company is overcharging you, we recommend seeking a third-party statement audit from an independent professional.

Response from Maverick Bankcard

At Maverick, we strive to be as transparent as possible and expect our sales partners to do the
same, both internal sales representatives and outside/independent sales agents.

Maverick Bankcard Marketing Example

b

Costs & Contract

Key Points - Costs & Contract

Swiped Rate Variable
Keyed-in Rate Variable
Early Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Terms Variable

Custom Pricing

Since Maverick BankCard provides high risk merchant accounts to many different kinds of businesses, the company’s contract terms will 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.

Risk Mitigation Policies

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 account 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.

Response from Maverick Bankcard

Maverick BankCard provides each of its clients with custom pricing, especially when they are
already accepting cards with another processor. For businesses already accepting cards, we will provide them with a complimentary side-by-side comparison, so they know exactly how much they will save when switching to Maverick. We are very flexible in meeting our client’s needs, whether it be on pricing or other contract terms. Maverick assumes all financial risk of their client’s payment processing, whether it be from fraud, uncollectable fees, chargebacks, data breaches or other penalties. Like any other payment processor, a reserve may be implemented in order to prevent financial losses and is almost always determined before the merchant begins processing payments.

a

Complaints & Service

Key Points - Complaints & Service

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

Low Complaint Total

We are currently able to locate nearly 10 complaints about Maverick BankCard on this and other consumer protection websites, some of which accuse the company of being a scam or a ripoff. Some older complaints filed against Maverick Bankcard 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 it is common for high risk merchant accounts to be subject to fund withholding. It is also worth mentioning that Maverick Bankcard has received a steady stream of verified, positive testimonials in the comment section below this review over the past two years.

Maverick Bankcard Support Options

Maverick Bankcard offers phone and email support to all of its merchants. While the company doesn’t quite qualify as a top processor for customer service in our opinion, it seems that its customer service channels do a solid job of resolving most merchant complaints in a timely fashion. Overall, the company has a low complaint rate relative to its size, but we still encourage any merchant to do careful research before signing up for service through Maverick Bankcard.

Response from Maverick Bankcard

Maverick BankCard does it best to provide excellent customer service from the signup and
onboarding process to ongoing support. We strive to meet expectations on all fronts. Some
online complaints we have been unable to verify the business and suspect some may be from
our competitors. In the case a merchant has a compliant, we also respond to share our side of
the story. We assure any business interested in using our service will have a positive
experience, otherwise they can cancel without any penalty if their expectations are not met.

a

BBB

Key Points - BBB

Product & Service Complaints 1
Billing & Collection Complaints 0
Advertising & Sales Complaints 1
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Under 10 Complaints

Maverick Bankcard currently has an “A+” rating with the BBB and has been accredited since July 2018. The company has received two complaints since its BBB profile was created in February 2016, one of which was related to an advertising or sales issue and the other of which was a product or service problem. Both complaints either were resolved to the dissatisfaction of the merchant or did not received a final response from the merchant.

What Merchants Say

The BBB provides the text of one customer complaint, which was filed in relation to withheld funds:

This company does nothing but steal your customers funds once you are accepted and begin processing. We started processing with this company for about two months and had no issues. On the third month we started to see random withdraws from our business account and no deposits. They are holding over six thousand of our customers funds and have withdrawn a total of three thousand from our business account. They told us our refund ratio was to high and they are holding our funds to prevent chargebacks. They never alerted us that our funds were on hold until we called after three thousand had already been withdrawn from our account. They were already taking a high percentage of each batch to hold in case of chargebacks.. We feel as though we have been scammed and this company is strictly interested in making profits and not helping businesses grow. We would like our customers funds released. We are now out of pocket 8 thousand dollars in orders and were forced to close our website.

Merchants who find themselves in this position may want to take steps to make their payment processor release their money.

An “A” Performance Overall

In light of the fact that the company has received only two complaints, we agree with the BBB’s rating at this time.

Response from Maverick Bankcard

Maverick BankCard is an accredited BBB company with an A+ rating.

Maverick Bankcard Logo

Maverick Bankcard Bottom Line

A Solid Option for High Risk

Maverick Bankcard rates as a decent processor according to our criteria. The company is showing a fairly low complaint rate at this time, but evidence linking it to BankCard USA continues to surface long after the company has denied any such connection. Considering only the company’s services and merchant feedback, Maverick Bankcard has earned a high overall rating. However, after factoring in the persistent evidence that the company’s executives may have misrepresented their relationship with another, poorly rated provider, we advise merchants to be sure to read and review all relevant documentation before signing up.

Phillip Parker is a former merchant services sales agent who believes the industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. He created this website to help you avoid the bad players, save money on fees, and to get peace of mind with your merchant account. If you would like to help support his work, learn more about our cost reduction service. We can evaluate your statement, tell you exactly how much you're overpaying, and then help you dramatically reduce your fees with your current credit card processor. Looking to switch instead? See our list of the best merchant account providers.

Schedule a Consultation with Phillip

20 Reviews Leave Your Review for Maverick Bankcard Below

  1. Andy says:

    I looked and compared several processors and decided to give my business to Maverick because I found them very friendly and professional.

    Their rates are competitive and they have an amazing customer service. Emails are answered very fast and they are to the point. They do not waste your time and they have been very accommodating.

    1. CPO Admin says:

      Hi Andy,

      Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

  2. Jack says:

    Maverick has revolutionized the merchant services industry. They do not charge hidden fees like other providers, put their proposal in writing, and guarantee to save you money. Their customer service is top notch as they treat you like family. Getting approved is easy and their underwriting department moves quickly. I cannot say enough about my interactions with them.

    1. CPO Admin says:

      Hi Jack,

      Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

  3. Terry M says:

    I’ve been a referral partner with Maverick Bank Card for over 3 years now. Their staff is extremely professional, knowledgeable and fair. We plan on using Maverick indefinitely, very solid company!

  4. Jason Wei says:

    We are very happy with Maverick. We’ve been with them for over a year, and have no complaints. We were processing with our bank before, and Maverick has been saving us over $200 each month. They even paid our termination fee from Wells Fargo. They are very accommodating to our needs and even placed us on next day funding. For a pretty large online business, this has been very helpful for cash flow and helping us grow. Very professional company and we would recommend them to anyone looking to switch.

  5. I own a wholesale razor blade company. I originally set up my merchant services through one of Authorize.net’s preferred processors but decided to see what else was out there. After getting a few quotes, I decided to go with Maverick BankCard because they are also family-owned and saved me the most money. They gave me a detailed side-by-side comparison and even pointed out some hidden fees that my previous processor was charging me. Since they are local, I decided to give them a try. So far my experience has been great. They approved me in just a few hours, and I was able to start processing the same day I applied. Maurice helped me get everything integrated to my website very quickly and easily, and even saved me money on my Authorize.net gateway too. All around I am very satisfied with Maverick, and they have exceeded my expectations.

  6. Saved me money, had a great customer service team, and made my life easier. Couldn’t ask for more. Thanks Maverick!

  7. Brian West says:

    These guys are great to work with. Extremely responsive and quick to answer and handle any questions or concerns that come up. Great rates and easy to contact!

  8. E. Morrow says:

    Can’t say enough about this company! More than accommodating and great options! Moments notice assistance! Love this service!

    1. CPO Admin says:

      Hi E. Morrow,

      Please reply to this comment with your business name and location in order to authenticate your testimonial. Thanks!

  9. For fun, I allow competitor companies try to meet or beat your services through Maverick. They all start off real arrogant, knowing that they can beat your rates. Then they look at a Maverick statement and their eyebrows shoot up. “Wow, you’re getting a great deal!” “I’ve never seen a processor charge this low of rates!” “How did you get them this low?”

    Haha… like I told the last kid that left the office, sometimes it is just nice to hear from a third party that you’ve done a damn good job. ;-)

    Thanks for your help and Maverick’s service. We are proud to be with you guys.

    PS-Maverick has beat out the YMCA’s preferred Merchant Services provider (Bank of America), Singular, Yoozy, Merchant One, AND Transfirst. They cut our previous Merchant Services Provider bill IN HALF.

    -No looking back!

  10. Helped us get started with our business in a professional and streamlined way. No runaround, gimmickey, annoying conversation, and very reasonable. We recommend Maverick to 110% of the way and are in debt to these guys. Thank you!

  11. Maverick is my only choice, they’re a family business with outstanding professionalism and service.

  12. Alexandra says:

    I was very impressed with Mr. Jeffrey Pedigo he is the Senior Account Executive at Maverick BankCard, Inc. He is very professional, knowledgeable, energetic, reliable, and punctual. He is a man of his word! I really enjoyed doing business with him and would recommend him to anyone who is in need of Merchant Services. He is amazing and will make sure you are well taken care. He is very trustworthy and truly cares about his clients. I really appreciate him delivering over 100% customer satisfaction. So if you are in need of Merchant Services give him Jeff a call today because Maverick BankCard is the best!

  13. Corey Kemp says:

    Maverick was able to have me approved quickly and painlessly, They are available to me 24/7, always very helpful and honest. My customer service rep, not only made me feel like a valued client, he made me feel like he was a long time friend who had my best interest at heart. I look forward to a continued relationship with Maverick.

  14. Maverick was able to have me approved quickly and painlessly, they are available to me 24/7, always very helpful and honest. Also very friendly! Customer service is awsome!! Thank you Maverick for everything!

  15. There are always obstacles and hurdles when one starts a new Venture. There are
    many unknown and unforeseen variables and factors. On those occasions, without
    someone to guide and assist you, one tends to get frustrated and give up the whole
    enterprise.

    I am writing this letter to highlight Mr. Jeff Pedigo’s – Account Executive – Maverick
    Bankcard Inc., invaluable help and inputs during our Merchant Application process.

    As a first time business owner there were lots of grey areas that I encountered during
    the application process with other Merchant Providers. They were not always very
    forthcoming in terms of information. Jeff was always one step ahead, in terms of
    knowing what my requirements were and what was suitable for my business plan. He
    was always on the ball and available to provide honest, straight forward information
    and answers to questions.

    A go getter, Jeff never gave up on looking for all possible solutions for my business. As
    a foreign company looking to set up a merchant account within the United States it
    was somewhat of a challenge. Consistent and persistent, ultimately Jeff was successful
    in finding a solution for the company.

    I highly commend Jeff for his outstanding work ethic, professionalism, pro-activeness
    and over all pleasant personality. It was a pleasure to work with Jeff as he instilled a
    sense that I was working with someone I could count on. He is a great asset to your
    organization. I am confident that he will continue to do the good work for a long, long
    time for your organization and act as a great brand ambassador.

  16. Allen Morton says:

    my online business sells numerous natural products for working out and weight loss- i was declined at most processors but maverick got me approved and accepitng cards in 4 days. they really know the high-risk processing world and im paying higher rates but it is definitely worth it!

    1. Phillip Parker says:

      Hi Allen,

      In order to authenticate this testimonial, please reply to this comment with your business URL and contact information. Thanks!

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