SC Financial Services Review

SC Financial Services Logo
full star full star full star full star empty star

How did they treat you? ▼

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.

High-Risk Specialists

Founded in 2003, SC Financial Services is a merchant account provider that specializes in high-risk payment processing. The company is a reseller of Group ISO‘s products and services.

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

Customer Reviews Summary
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
Delivery 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

Cost & Fees Summary
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?

Jobs & Marketing Summary
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.

Our SC Financial Services Review Summary

Our Final Thoughts

Solid Option for High-Risk Merchants

SC Financial Services rates as a reliable high-risk merchant services provider according to our rating criteria. The company has not received any negative reviews from merchants, but it also is not entirely transparent about its full rate and fee schedule. Merchants (especially high-risk merchants) should be sure to read their contracts in full and inquire about any provisions that are unclear. To ensure the most competitive rates and contract terms are received, merchants are advised to opt for top-rated high-risk merchant accounts. We will continue to monitor merchant feedback and adjust our score as necessary.

If you found this article helpful, please share it!

Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did SC Financial Services Treat You?

1 User Reviews

  • Adriel Michele

    SC Financial Services has been an absolute game-changer for my financial journey. Their expertise and personalized approach have made a significant impact on my financial well-being. From the moment I engaged with them, I knew I was in good hands. They provided a seamless experience, guiding me through the complexities of investments and financial planning. The team’s professionalism and commitment to understanding my unique needs truly set them apart.

    Thanks to SC Financial Services, I now have a clear roadmap for my financial future. They have helped me make informed decisions, optimizing my portfolio and maximizing returns. I feel confident that my financial goals are within reach, and I owe it all to their dedicated team. If you’re looking for top-notch financial services, look no further than SC Financial Services. They are the real deal!

Tell Us How They Treated You

Sharing your experience influences our rating and helps other business owners make informed decisions. Please take a moment to tell us if they are serving you well. Your email address will never be published, shared or sold. We only use it to authenticate that you are a real person and, if you select the option for it, to let you know if someone replies to your comment. Required fields are marked *

Comments must contain details about your experience. Please do not use ALL CAPS. Self-promotion, marketing content, or contact information of any kind will not be published. By submitting a comment, you are agreeing to our Comment Policy


Copyright © 2024, Inc. (Digital Fingerprint: 0d38c6720f0d78a701b74d58653af608). Getting paid to re-write this page? Click here to earn a reward.

Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. While the information in the above article is believed to be accurate as of its publish date, the author and publisher make no representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the contents. The author and publisher shall in no event be held liable to any party for any direct, indirect, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this material, which is provided “as is,” and without warranties. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherwise, with, Inc. ("CPO") in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. It is not intended as legal or financial advice. We may earn revenue if you obtain services from a provider that we recommend. See this page to learn how we support our operations.