Maverick Bankcard Review

Overview

Maverick Bankcard (maverickbankcard.com) is a merchant account provider headquartered in Aguora Hills, California. Launched in 2000, the company is located at 28720 Roadside Drive, Suite 101, Agoura Hills, California 91301. 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.

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.

Prior to the most recent 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 the first and only complaint filed against Maverick Bankcard’s newly created Better Business Bureau page, a company representative replies 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 there is some current structural overlap between the two companies.

Key Points

  • 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 one complaint 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
a

Sales & Marketing

Key Points - Sales & Marketing

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

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. In addition, the company’s official materials do not appear to utilize deceptive advertising strategies.

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

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.

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.

a

Complaints & Service

Key Points - Complaints & Service

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

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. Many older 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 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. 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.

a

BBB

Key Points - BBB

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

Maverick Bankcard is not an accredited business with the Better Business Bureau and currently has an “A+” rating with the BBB. The company has received one complaint since its BBB profile was created in February 2016, and this complaint is related to an advertising or sales issue. The complaint either was resolved to the dissatisfaction of the merchant or did not received a final response from the merchant. In light of the fact that the company has received only one complaint, we agree with the BBB’s rating at this time.

Maverick Bankcard Logo

Maverick Bankcard Bottom Line

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.

Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.

Schedule a Consultation with Phillip

11 Reviews Leave Your Review Below

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

    1. Hi E. Morrow,

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

  2. 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!

  3. 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!

  4. 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!

  5. 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.

  6. 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!

  7. 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.

  8. 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. 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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