Optimal Payments Review
We take our role in providing guidance and education regarding the card payment industry very seriously. At our own expense, we have vigorously defended our right to continue expose unethical and predatory practices in the industry, successfully defeating every attempt to silence us. However, fending off frivolous lawsuits is costly. To sustain these efforts, one of the ways we generate revenue is through affiliate partnerships with ethical providers. This means that some of our outgoing links connect business owners to trustworthy, low-cost payment processors, which is what most of our readers seek. We see this revenue channel as a win-win-win for everyone involved. Business owners find good processors, processors get good clients, and we are able to continue to provide a valuable service to the small business community. We also recommend and link to many services that do not compensate us. Our priority is to guide you to the best solutions for your needs, regardless of potential revenue. If you have questions, please feel free to contact us.
All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.
Optimal Payments
Rating
Customer Reviews & Sentiment
We have not found any negative Optimal Payments reviews that accuse the company of being a ripoff or a scam, but there are a number of complaints filed against its subsidiary ventures like Neteller and Skrill. These other services are primarily intended for personal money exchange and do not function like traditional merchant accounts, so we have not factored them into this review of Optimal Payments. That noted, it does seem that a large number of complainants struggle with fund holds and excessive account verification procedures through these other services. It does not appear that fund holding issues pervade Optimal Payments’s merchant services solutions through NBX Merchant Services at this time. In general, Optimal Payments appears to have maintained a clean complaint record for its central business name, but its affiliated services have received substantial negative feedback.
Industry Scores & User Ratings
| Product & Service Complaints | 0 |
|---|---|
| Billing & Collection Complaints | 0 |
| Advertising & Sales Complaints | 0 |
| Guarantee & Warranty Complaints | 0 |
| Delivery Complaints | 0 |
The Better Business Bureau currently does not assign a rating to Optimal Payments and does not provide the company with accreditation. There are no complaints filed against the company’s BBB profile, and there is very little information about Optimal Payments attached to the profile. At this time, it is unclear whether the BBB even actively updates this profile. In light of this, we have elected not to take the BBB’s rating into consideration for the purposes of this review.
Processing Rates & Fees
The standard Optimal Payments/NBX Merchant Services contract (available below) is an agreement of unspecified length through Merrick Bank that includes a liquidated damagesearly termination fee as well as a restocking charge of at least $200 for any leased equipment. The contract doesn’t specify how liquidated damages will be calculated under the contract, but it is probably determined by multiplying the number of remaining months in the contract by $35. It may also be a flat $500 depending on which amount is greater. Merchants are generally not encouraged to sign contracts that hold them accountable for liquidated damages in the event of early termination. Although we do not have specific information about the company’s other rates and fees, the presence of this fee alone is enough to lower its score to a “C” in this category. If you have any specific knowledge of the Optimal Payments contract (including any PCI compliance fees or monthly minimum fees), please share that information in the comment section below this review. See the Optimal Payments Merchant Agreement.
Optimal Payments Competitors
Compare Optimal Payments to competitors that earned top marks.
Bottom Line
Optimal Payments rates as a decent merchant services provider according to all available information. The company has very few complaints related to its merchant account operation, NBX Merchant Services, but its available contract terms are not especially competitive. In addition, a number of its subsidiary services have received generally negative feedback from users.
