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Maverick Bankcard 2023: Reviews & Complaints
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Maverick Bankcard is a merchant account provider that began operating under Maverick Payments in 2021. The change appears to be mostly cosmetic, as the company is still headed by Alan Griefer and still serves many high-risk merchant accounts. Maverick Payments offers online and in-person credit card processing, payment gateways, and is a reseller of POYNT POS products.
In 2022, Maverick Payments announced a partnership with Fluid Pay, with a focus on improving ACH payment options.
Before we dive in, here’s a short summary of what we’ll cover:
- Maverick Payments’ various payment processing services.
- Maverick Payments’ relationship with BankCard USA.
- The company is primarily a provider of high-risk merchant accounts.
- The company has received few complaints online.
As Maverick Bankcard
Multiple online merchant complaints state that Maverick Bankcard and BankCard USA were 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 2 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.
More Evidence Surfaces
Prior to an August 2017 update of this review, we took the company representatives at their word and treated the 2 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.
Credit Card Processing for High-Risk Merchants
Maverick Payments specializes in credit card processing solutions for businesses that are considered “high-risk” by traditional financial institutions. They offer customizable payment gateways that integrate with a wide range of e-commerce platforms and point-of-sale systems.
ACH and E-Check Processing
In addition to credit card payments, Maverick Payments provides ACH (Automated Clearing House) and E-Check processing services. This allows merchants to accept payments directly from bank accounts, offering an alternative to credit card transactions.
Fraud Prevention and Security
Security is a priority for Maverick Payments. They offer a range of fraud prevention tools, including Address Verification Services (AVS) and Card Verification Value (CVV) checks. These features are designed to safeguard both the merchant and the customer.
Virtual Terminal Solutions
For businesses that need to manually key in credit card transactions or process mail and telephone orders, Maverick Payments provides virtual terminal solutions. These are secure, web-based interfaces that allow for easy payment processing.
Mobile Payment Processing
Maverick Payments offers mobile payment processing solutions, enabling merchants to accept payments on the go using smartphones or tablets. The mobile processing solutions are compatible with both Android and iOS devices.
Multi-Currency and International Payments
To facilitate international business, Maverick Payments supports multi-currency transactions. Merchants can accept payments in multiple currencies, thereby broadening their customer base.
Recurring Billing Solutions
For businesses that rely on subscription models or offer installment payment options, Maverick Payments provides a recurring billing service. This feature allows for the automated collection of payments at predetermined intervals.
Custom Reporting and Analytics
Maverick Payments offers robust reporting tools and analytics. Merchants can easily track sales, refunds, and other transaction data, helping them make informed business decisions.
Location & Ownership
Launched in 2000, Maverick Payments is located at 26520 Agoura Rd, Calabasas, CA 91302. Alan Griefer is listed as the CEO of Maverick Payments. Maverick Payments registered ISO/MSP of Avidia Bank, Hudson, MA; Axiom Bank, N.A., Maitland, FL; Esquire Bank NA, Jericho, NY; and Mission Valley Bank, Sun Valley, CA.
Table of Contents
- Costs & Contract: Offers flexible contract terms and is capable of serving merchants in…
- Complaints & Service: Has received a high number of verified, positive…
- BBB Rating: Has an “A+” rating and has received…
- Sales & Marketing: Doesn’t list any misleading rate quotes on its website or…
Maverick Bankcard Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
We are currently able to locate around 10 negative Maverick Payments reviews 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 canceling service, and undisclosed or unauthorized fees. Some of these complaints appear to be the result of client misunderstanding, as it is common for high-risk merchant accounts to be subject to fund withholding. It is also worth mentioning that Maverick Payments has received a steady stream of verified, positive testimonials in the comment section below this review over the past two years. If you have your own Maverick Payments review to make, please do so in the comments below.
Maverick Payments Lawsuits
Maverick was sued in 2023 by Watch Rapport, but details about the case are currently not available to the public. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Maverick Payments Customer Support Options
Maverick Payments offers phone and email support to all of its clients. 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 readers to do careful research before signing up for service through Maverick Payments.
Maverick Payments Customer Service Number
- (800) 464-9777 – Toll-Free Support
Other Support Options
- Support form
- Customer service email address at [email protected]
Maverick Bankcard Online Ratings
Here's How They Rate Online
Under 5 Complaints
Maverick Bankcard currently has an “A+” rating with the BBB and has been accredited since July 2018. The company has received 10 complaints in the past 36 months. 5 of these complaints were resolved to the satisfaction of the client. The other 5 were either resolved to the dissatisfaction of the client or received no final response.
What Merchants Say
In addition to 10 complaints, the Maverick Bankcard received 10 informal reviews on its BBB profile. 2 of the reviews were positive while 8 were negative, and the most recent one describes a large amount of held funds:
Maverick is a horrible company. They do not know how to take care of their clients. I have been using their merchant processing for three years and suddenly they dropped my account. We have a reserve balance remaining with them over $100,000. They kept that balance and terminated our account now they continue to draft funds out of our reserve balance due to various different reasons that they are making up. Ive called them several times to ask them to release my reserve balance, and they tell me they will not release it and instead they continue to draft fees out of it. Clearly, they are keeping the money and finding reasons to deplete the reserve balance, I would beware, if youre dealing with them or plan to deal with them, they are taking my companies money.
Researching the best available options for customer service is one way readers can assure themselves of being able to effectively resolve issues.
An “A” Performance Overall
In light of the low number of complaints, we agree with the BBB’s rating at this time.
Maverick Bankcard Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Processing Rates||1.00% - 4.99%+|
Since Maverick Payments provides high-risk merchant accounts to many different kinds of businesses, the company’s contract terms will vary greatly depending on a business’s size, business type, and time in business. We previously located a sample Maverick Bankcard contract through First Data/Fiserv 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 business may vary greatly. We will assume a Maverick Payments contract closely resembles those issued under the Maverick Bankcard name.
Another component of First Data/Fiserv sourced contracts is their inclusion of a long-term, non-cancellable lease through First Data Global Leasing. These lease agreements impose fees on merchants that exceed the cost of purchasing equipment.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Maverick Payments dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Risk Mitigation Policies
Most complaints about Maverick Payments 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 Payments could prevent some of these complaints ahead of time by explaining its fraud prevention policies more clearly to businesses.
Maverick Bankcard Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||No|
Inside and Outside Sales Reps
Maverick Payments 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 Payments.
No Deceptive Quotes
As an additional point in Maverick Payment’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 Payment’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.
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