SC Financial Services Review
Note: As of October 2021, we believe this SC Financial Services to be out of business. While their website is up, there is very little info on it, and we can’t find any other evidence of activity on the part of the company. If you have information that this SC Financial Services is still functioning, please let us know in the comments. It should be noted that there is another SC Financial Services that operates in the personal finances industry, and these two companies do not seem to be related.
SC Financial Services Location and Ownership
Howard Goldstein is listed as the owner of SC Financial (although some third-party sources identify the company’s owner as “Howard Chanin”), which is headquartered at 7095 Hollywood Blvd, Suite #755, Los Angeles, California 90028. The company is a registered ISO/MSP of EFS National Bank, Memphis, Tennessee, and of City National Bank, Louisville, Kentucky.
SC Financial Services Review Table of Contents
- Costs & Contract: SC Financial Services appears to offer variable contract terms depending on each merchant’s risk profile and processing history.
- Complaints & Service: SC Financial Services has received fewer than 10 public complaints.
- BBB Rating: SC Financial Services has no rating with the Better Business Bureau and has received 0 complaints in the past 3 years.
- Sales & Marketing: SC Financial Services does not appear to hire independent sales representatives and has not received any complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With SC Financial Services
SC Financial Services Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Clean Complaint Record
We are currently unable to locate any negative SC Financial Services reviews, and there is no evidence that the company is a ripoff or a scam. SC Financial Services does not appear to serve an especially large merchant base, which may limit its risk of complaints appearing in public.
SC Financial Services Lawsuits
We have not found any outstanding class-action lawsuits or FTC complaints filed against SC Financial Services. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
SC Financial Services Customer Service Options
Owing to the lack of complaints against the credit card processor, we have assigned SC Financial Services an “A” rating in this section. The company offers a phone number and contact form on its website, but it’s unclear whether these channels are dedicated to customer support. SC Financial Services’ support options are not sufficient to qualify it as a top-rated merchant account provider for customer service at this time.
SC Financial Services Online Ratings
Here's How They Rate Online
Online Ratings Summary
|Product & Service Complaints||0|
|Billing & Collection Complaints||0|
|Advertising & Sales Complaints||0|
|Guarantee & Warranty Complaints||0|
No BBB Rating
SC Financial Services currently has no rating with the Better Business Bureau and is not BBB-accredited. The company has 0 complaints over the last 36 months. It also has not received any informal reviews to its BBB profile, although it should be noted that these reviews are not subject to verification by the BBB. In general, it seems as if the BBB has been unable to obtain much information at all about SC Financial Services, which is the most likely explanation for its inability to assign a rating. In light of this, we will not factor a BBB rating into this review.
SC Financial Services Fees, Rates & Costs
A Closer Look at The Contract
|Swipe Rate||1.79% + $0.22|
|Keyed-in Rate||2.39% + $0.22|
|Virtual Terminal Rate||2.39% + $0.22|
|Payment Gateway Fee||$10 Per Month|
|Statement Fee||$6 Per Month|
|Equipment Lease Terms||Undisclosed|
Potentially Variable Contract Terms
There is not a lot of publicly available information about the standard SC Financial Services contract. In addition to the rate quotes of 1.79% plus $0.22 per swiped transaction and 2.39% plus $0.22 per non-swiped transaction discussed in the previous section of this review, the company’s website also lists a monthly statement fee of $6. The company also claims that there is no monthly minimum fee or annual fee for its service. The company also advertises a free terminal offer but does not describe any possible equipment lease terms that may be attached to it.
It is highly likely that some of these figures will vary depending on the merchant’s business type, sales volume, and processing history. As a general rule within the credit card processing industry, high-risk merchants should be prepared to pay higher-than-average per-transaction fees and possibly maintain a cash reserve to ensure against chargebacks.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, SC Financial Services also dedicates a portion of its website to advertising its virtual terminal and payment gateway services. The company charges a transaction rate of 2.39% plus $0.22 and a gateway fee of $10 per month.
No Contract Complaints
We cannot find any merchant complaints that refer to SC Financial’s pricing or contract terms as unsatisfactory. We will therefore assume for now that most of its merchants are pleased with the rates they receive. Still, there is no evidence to suggest that SC Financial’s pricing competes with the cheapest merchant accounts. If you have any specific knowledge of the standard SC Financial Services contract (including any PCI compliance fees, early termination fees, or equipment leases), please share that information in the comment section below this review.
SC Financial Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Employs Independent Resellers||No|
|Advertises Deceptive Rates||Yes|
|Discloses All Important Terms||No|
Inside Sales Team
SC Financial Services appears to market its services primarily via strategic partnerships and an in-house sales team. There is no evidence that the company uses independently contracted sales agents, although we cannot rule that possibility out as of this review. SC Financial appears to be a relatively small organization, so it is unlikely that it maintains a large sales force. We are currently unable to locate any SC Financial complaints that mention the company’s sales staff.
Misleading Rate Quotes
The SC Financial Services website currently promotes rates of 1.79% plus $0.22 per swiped transaction and 2.39% plus $0.22 per non-swiped transaction. These rates are likely the company’s qualified rates for those types of transactions, and the site makes no mention of its higher mid-qualified and non-qualified rates. As a high-risk merchant account provider, it’s likely that SC Financial Services will need to charge much higher rates than these for certain business types. We consider this type of rate quoting to be deceptive because it may give merchants an unrealistic expectation of the rates they will pay.
Be Aware of Hidden Fees
We have lowered the company’s score in this section to a “B.” If you suspect that SC Financial Services is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden costs.
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