Platinum Choice Bancard Reviews & Complaints

Overall Score
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How did they treat you?
Pros and Cons
Pros: Cons:
Innovative technology. Misleading marketing practices.
Eliminates most business fees. Cancellation penalties.
Diverse processing solutions. Variable processing rates.
Equipment leasing required.
Equipment issues.
Non-disclosed terms.
High early termination fee.
Inconsistent customer service.


In this review of Platinum Choice Bancard, we will provide a detailed overview of the company's credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company's pricing structure, contract terms, and specific features provided. By the end of this review, you will understand whether Platinum Choice Bancard meets your payment processing needs.

About Platinum Choice Bancard

Platinum Choice Bancard is a merchant account provider primarily serving small to mid-sized businesses throughout the United States. There is evidence that the company is an ISO of First Data (now Fiserv). Platinum Choice is also able to provide some high-risk merchant accounts.

Platinum Choice Bancard Products and Services

Payment Processing

Platinum Choice Bancard (PCBancard) processes all major debit and credit cards, including services for high-risk businesses. Their offerings include Clover POS solutions, EMV card readers and swipers, e-commerce solutions such as virtual terminals and payment gateways, mobile payment options, cash advances and loans, check and ACH payments, B2B Level 2 and 3 processing, invoicing, and gift cards.

Merchant Processing Solutions

Platinum Choice Bancard provides a variety of merchant processing solutions tailored to different industries. These services include customized payment processing for credit, debit, and gift cards, designed to meet the specific needs of each business.

Mobile Payment Processing

For businesses that require mobile transactions, PCBancard offers a mobile payment processing service. Using the company's mobile processing app, merchants can accept credit card payments via smartphones or tablets, offering a convenient payment option for customers.

E-commerce Solutions

PCBancard supports online businesses with secure e-commerce payment processing solutions. Their reliable online payment gateways ensure smooth transactions for both merchants and customers.

POS Systems

Platinum Choice Bancard supplies point-of-sale (POS) systems aimed at streamlining payment processes. These systems include features such as inventory management and employee tracking to help businesses manage their daily operations more effectively.

Data Security and Fraud Protection

PCBancard prioritizes data security by offering end-to-end encryption and tokenization to safeguard sensitive payment information. They also provide fraud protection tools to help merchants detect and prevent fraudulent transactions.

PCBancard payment processing
PCBancard offers standard payment processing services

Platinum Choice Bancard Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints 10+
Live Customer Support Yes
Most Common Complaint Poor Service
Recent Lawsuits No

Customer Reviews and Complaints

Our search uncovered over 10 negative reviews of Platinum Choice Bancard, with several alleging the company as a scam or ripoff. The primary grievances in Platinum Choice Bancard complaints involve unexpected higher rates, undisclosed monthly fees, substantial cancellation fees, and challenges in contacting customer support. This consistent pattern of complaints over the past two years has adversely affected the company’s rating since our previous review. We encourage readers with their own experiences to share a Platinum Choice Bancard review in the comments section below.

Legal and Regulatory Status of Platinum Choice Bancard

No current class-action lawsuits or Federal Trade Commission (FTC) complaints have been found against Platinum Choice Bancard. Clients preferring to resolve their issues without litigation are advised to consider reporting to appropriate supervisory bodies.

Platinum Choice Bancard Customer Support Overview

Platinum Choice Bancard lists both a phone number and email address for customer support on its website. There’s a possibility that First Data (now Fiserv) might provide after-hours support, although this isn’t explicitly mentioned on their site.

Contact Details for Platinum Choice Bancard Customer Service

  • (888) 537-7332 – Toll-Free General Customer Service
  • (973) 324-2251 – Work Inquiries

Additional Customer Support Channels

Providing phone and email support aligns with industry standards, yet Platinum Choice Bancard should enhance these services to compete with leading merchant accounts known for exceptional customer support.

Platinum Choice Bancard Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Reports 1

No Complaints

Platinum Choice Bancard has been accredited by the Better Business Bureau since 2011 and currently maintains an “A+” score. The company has received 1 complaint in the past 36 months.

An “A” Performance

In light of the company’s complaint total and resolution ratio, we agree with the rating assigned by the BBB.

Platinum Choice Bancard Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates Variable
Equipment Leasing Yes

Long-Term Contract

Specific details about Platinum Choice Bancard’s (PCBancard) standard contract are challenging to verify. As a reseller of First Data (now Fiserv) products, PCBancard’s rates may align with those of First Data (Fiserv). Typically, First Data (Fiserv) offers a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19 for merchants processing up to $50,000 monthly. For higher volumes, the rates adjust to 2.29% plus $0.19 and 3.29% plus $0.19, respectively. The contracts often include non-cancellable, long-term equipment leases through First Data Global Leasing. Purchasing EMV-enabled terminals, which can be less than $400, is generally more cost-effective than long-term leasing.

While PCBancard can modify these terms based on various factors, there is limited public information on their specific rates and fees. An early termination fee of $595, higher than the standard fee by First Data (Fiserv), has been mentioned in a complaint. Businesses should consider comparing PCBancard’s offerings with our list of the best merchant accounts.

Virtual Terminal and Payment Gateway Pricing

PCBancard also promotes its virtual terminal and payment gateway services, though specific pricing details are not provided on their website. Expected additional fees include gateway fees, technical support charges, batch fees, and transaction rates for these e-commerce solutions.

Level 2 and Level 3 Processing Services

Moreover, PCBancard offers Level 2 and Level 3 processing services for B2B and B2G transactions, which utilize different interchange rates than standard consumer credit transactions. These specialized services require advanced payment processing technology for transmitting extensive data necessary for corporate credit card transactions. Businesses engaged in B2B and B2G sectors should evaluate PCBancard’s offerings in comparison to leading credit card processors.

Platinum Choice Bancard Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers Yes
Telemarketing Likely
Misleading Marketing No
Discloses All Important Terms No

Outside Sales Team

Platinum Choice Bancard appears to market its services through independent sales agents and partnerships with resellers. This practice can sometimes result in elevated complaint rates among merchants, as independent sales entities are difficult to train and regulate. In this case, we have located a handful of Platinum Choice Bancard reviews that mention hidden fees, unwanted sales calls, and misleading rate quotes.

Low Fee Advertisement

Platinum Choice Bancard advertises that it will eliminate 95% of a business’ fees. Despite this advertisement, several Platinum Choice Bancard reviews detail exorbitant early termination fees. Platinum Choice Bancard complaints mention a fee as high as $595. This compares poorly to the best credit card processors.

Recent Sales Complaints

One commenter in the comment section below this review suggested that a telephone representative described the company as “the interchange,” which is essentially meaningless, so it’s hard to know if the agent was being intentionally misleading. Other commenters say that the company will “offer this amazing deal with no cancellation” which “was not true at all,” and that “fees are more than we discussed and the lease amount is more than is written on the contract.” These Platinum Choice Bancard complaints have mostly surfaced within the past two years, which has lowered the company’s rating in this section to a “B.” If you suspect that Platinum Choice is charging you hidden fees, we recommend seeking a third-party statement audit.

Our Platinum Choice Bancard Review Summary

Our Final Thoughts

Platinum Choice Bancard stands out as a commendable credit card processing provider, according to our assessment criteria. While it has demonstrated a relatively low incidence of customer complaints in the recent past, a modest uptick in grievances has somewhat diminished its standing, albeit without any severe allegations regarding the conduct of its representatives. This suggests that while Platinum Choice Bancard maintains a reputable operational standard, vigilance in its customer interactions and complaint resolution is necessary for maintaining or improving its reputation.

The comprehensive details about Platinum Choice Bancard’s contract terms, sales approaches, and the efficacy of its customer service remain less documented, which could influence its rating in future evaluations. Business owners considering this provider are encouraged to conduct a thorough comparison with top-rated merchant account providers to ensure they secure a service that aligns closely with their financial and operational needs, ensuring transparency and reliability in their credit card processing capabilities.

Location & Ownership

The company was founded in 2009 and has a corporate address located at 420 Boulevard, Suite 206, Mountain Lakes, New Jersey 07046. Platinum Choice Bancard is a registered ISO of Synovus Bank, Columbus, GA; Fifth Third Bank, Cincinnati, OH; and Wells Fargo Bank, Concord, CA. Gary Wishnia is listed as the CEO of Platinum Choice Bancard.

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Testimonials & Complaints

How Did Platinum Choice Bancard Treat You?

8 User Reviews

  • Don Bruce

    Platinum Bad Choice Bancard. Every month new fees and total nonsense. Annual fees charged multiple times every year. They are chasing me down for $600 they say I owe but have never given me a bill of particulars and have their creditors hounding me. I am going to send a letter to the regulatory agency in Virginia about this company. Whenever there is a problem they refer you back to your rep and the rep can’t do anything. Save yourself a lot of aggravation. Stay away from these people.

  • Christian Thrash

    This company is a SCAM! Visit BBB to see their reviews and history of billing fees. They will not provide any information on closing your account. If you are a merchant they failed our security tests provided by DELL. Go with the big banks Like Chase , Wells Fargo etc. Chase has now put this company on their list of companies to watch for fraudulent charges.

  • Mike Velenga

    I went though a lot of credit card processing companies when I first opened my store. It took about 3 different companies over-charging me, lying to me, and treating me like nothing but a number untill I signed up with Platinum Choice Bancard. Their customer service is great, their fees are low, and they actually care about helping my business grow. Thank you for making my life easier and caring about my business, Platinum Choice Bancard!!!

  • Tom

    Just had a 2nd phone call from scheduler for Platinum choice. He claimed they ARE the interchange. And that, “the credit card companies give the names of companies to them that are no longer high risk. So that they can lower our rates.” They claim not to be either a bank or a 3rd party processing company, rather they ARE the interchange.

  • James Faulkner

    Doing business with Platinum Choice Bancard has been a true pleasure. I have always found them to be above grade when it comes to service and they are always available to help with any issue I may have.


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