National Bankcard Overview
A Reseller of iPayment and Total Merchant Services
National Bankcard is a merchant account provider based in Melville, New York, on the same street where Evolution Bankcard, EVO Payments International, Pivotal Payments, and Bluefin Payment Systems maintain their respective headquarters. Founded in 2007 (according to several third-party sources), National Bankcard is a reseller of iPayment and Total Merchant Services. It’s worth noting that National Bankcard could potentially be confused with National Bankcard Systems, an Austin, Texas-based company, in search results, but that these two companies are not affiliated with one another.
National Bankcard Location and Ownership
Jonathan Monge is listed as the CEO of National Bankcard, which is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California. The company’s main office is located at 538 Broadhollow Rd., Suite #213, Melville, New York.
National Bankcard Review Table of Contents
- Costs & Contract: National Bankcard offers a three-year contract with no early termination fee. The company relies on Authorize.Net for its online payment gateway.
- Complaints & Service: National Bankcard has received more than 50 public complaints.
- BBB Rating: National Bankcard has an “A+” rating and has received 19 complaints and 8 reviews in the past 3 years. The company has been accredited by the Better Business Bureau since 2007.
- Sales & Marketing: National Bankcard hires independent sales agents and has received a low number of complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With National Bankcard
Types of Businesses Served
Our unbiased reviews are supported, in part, by helping you find highly rated merchant accounts. You can learn more here.
National Bankcard Rates, Fees, and Costs
|Swiped Rate (Debit)||0.25%+$0.19|
|Swiped Rate (Credit)||1.58%+$0.19|
|Keyed-in Rate (Debit)||0.85%+$0.19|
|Keyed-in Rate (Credit)||1.99%+$0.19|
|Virtual Terminal Rate||1.00% - 4.99%|
|Payment Gateway Fee||Undisclosed|
|Monthly Minimum Fee||$25|
|Monthly Statement Fee||$5.00 - $7.50|
|RoamPay Account Fee||$4.99 Per Month|
|Authorize.net Virtual Terminal Fee||$5 Per Month|
|Early Termination Fee||$0.00|
|PCI Compliance Fee||$79 Per Year|
|Gateway Fee||$8.00 Per Month|
|Equipment Lease Terms||$0 - $300|
According to merchant complaints and the company’s program guide, the standard National Bankcard contract is a three-year agreement with no early termination fee, a monthly minimum fee of $25, a monthly statement fee of $7.50, an annual PCI compliance fee of $79, and either a tiered or interchange-plus pricing schedule. The company’s tiered pricing charge a swipe rates of 0.25% plus $0.19 for debit cards and 1.58% plus $0.19 for credit transactions. The company’s keyed-in rate charges 0.85% plus $0.19 for debit while a significantly higher rate of 1.99% plus $0.19 for credit. A company representative has stated that National Bankcard’s monthly service fee is $5 rather than $7.50, and that the company offers a free mobile card reader with a $4.99 monthly RoamPay account as well as an Authorize.net virtual terminal for $5 per month. In any case, these contract terms are better-than-average for the industry, and the company’s $0.00 cancellation fee is a merchant-friendly policy that doesn’t lock business owners into their agreements.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, National Bankcard also 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
National Bankcard Free Terminal Policy
National Bankcard sells credit card processing equipment outright and also offers a free terminal placement program. Given the fact that there may be additional terms associated with free equipment, merchants are advised to purchase their EMV terminals outright whenever possible.Are you happy with your National Bankcard fees? Tell us about them before your go!
National Bankcard Complaints & Customer Reviews
|Total Online Complaints||10+|
|Live Customer Support||Yes|
|Most Common Complaint||Hidden Fees|
Low Complaint Total
We are currently able to locate more than 10 negative National Bankcard reviews on consumer protection forums. One complainant cites a 90-day hold placed on several high-ticket transactions and difficulty resolving the issue through customer support, while another describes unauthorized charges and trouble cancelling service. These issues are echoed in other two complaints. In the comment section of this review, merchants complain of poor customer service and undisclosed fees.
National Bankcard Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against National Bankcard. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
National Bankcard Customer Support Options
iPayment responded to one National Bankcard complaint in a generally professional manner, while Jonathan Monge did the same for another complaint. The available complaints do not mention particularly egregious issues, and the overall number of complaints is low for a company of National Bankcard’s size and time in business. National Bankcard offers 24/7 live phone support to merchants, but this is not sufficient to earn the company a place among our top-rated merchant accounts for great customer service.
National Bankcard BBB Rating Summary
Key Points - BBB
|Product & Service Complaints||8|
|Billing & Collection Complaints||10|
|Advertising & Sales Complaints||1|
|Guarantee & Warranty Complaints||0|
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
nearly 20 Complaints
National Bankcard currently maintains an “A+” rating with the Better Business Bureau and has been accredited since 2007. The company has received 23 complaints in the past 36 months, with 1 relating to advertising issues, 10 due to billing disputes, and 8 have to do with the product or service itself. The company has resolved 12 complaints to the satisfaction of the merchant, while the remaining 7 were answered but have yet to receive a response from the merchant.
What Merchants Say
National Bankcard has also received 8 informal negative reviews and one positive informal review through the BBB. One recent review describes funds being held following an account termination:
You should by all cost avoid dealing with this company . I had just signed up for a merchant account ,that was approved and the credit card machine mailed to my business . Did my first two transactions , only to receive an email stating they were Holding the funds for 6 month and the account had been terminated . What a shocker to have your money frozen and no merchant account after all the hassle and waisted time and effort . A bunch of crocks only there to keep our money and hope that we are not around in six months ,so they keep the money for ever . They should be stopped by the state and by the Federal agency that regulates those type of businesses .There are plenty of companies with very high rating . DO your research , like I should have done before I signed up with this con of a company . They also have a different name to con Merchants , Its called PAYSAFE , same crooks
Understanding why merchant accounts hold funds can be invaluable to avoid experiences like this and to get the money released.
A “B” Performance
Given the company’s complaint total and resolution ratio, we have adjusted the BBB’s rating to a “B.”
Truth In Marketing & Advertising
|Employs Independent Resellers||Yes|
|Advertises Deceptive Rates||Yes|
|Discloses All Important Terms||No|
Inside/Outside Sales Team
National Bankcard appears to utilize traditional advertising, search engine marketing (SEM), and independent sales agents to market its services. The use of independent agents (or, in National Bankcard’s terminology, a nationwide “referral program”) typically results in elevated complaint rates for the companies who employ them, as these agents operate with minimal oversight, support, or training. In the case of National Bankcard, we have found a low number of negative reviews related to the misrepresentation of rates, specifically with regard to debit card processing fees. Merchants report being quoted an unrealistically low rate for debit transactions only to find out later that they actually pay much higher rates for the majority of cards.
National Bankcard Teaser Rates
This confusion is likely related to National Bankcard’s frequent use of “teaser” rates, which list the company’s Qualified debit rates but do not disclose the Mid-Qualified and Non-Qualified rates that merchants will pay on most transactions. At the time of this article’s publication, National Bankcard’s homepage promotes rates “from only 0.25%.” At the time of our previous update, the company’s “Rate Comparison” page listed a swiped debit rate of 0.25% plus $0.19 and a keyed debit rate of 0.85% plus $0.19. It also showed a swiped credit card rate of 1.58% plus $0.19 and a keyed credit card rate of 1.99% plus $0.19. These rate quotes may be accurate for each card type’s Qualified tier, but they make no mention of the higher rates that the company charges on these transactions. We consider this type of rate quoting to be deceptive, as these quotes could give merchants an unrealistic expectation of the rates they will pay.
Rated “B” For Now
The company’s grade has been lowered due to its legacy of misleading rate quotes, although its somewhat low complaint total and lack of a cancellation fee still keep it at an above-average grade of “B.” If you suspect that a National Bankcard representative misled you about your pricing, you can double-check your monthly bill with a third-party statement audit.
About Phillip Parker
Thank you for reading my review. I hope that it has helped you with your research.
Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services
I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.
From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.