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Smart Money EPS Merchant Services 2023: Reviews & Complaints
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Active since 2011, Smart Money EPS is a merchant account provider that serves most standard-risk business types. The “EPS” in its name stands for Electronic Payment Solutions, and it has no connection to Electronic Payment Systems (EPS), an unrelated merchant services provider.
Smart Money EPS Payment Processing
Smart Money EPS processes all major debit and credit cards for most business types. According to the company’s website, it focuses its services on merchants in the restaurant, hotel, and gas station industries. The company offers many promotional materials that emphasize its ability to process EBT payments. Smart Money EPS also advertises Clover as a POS solution.
Location & Ownership
Smart Money EPS is a registered ISO of Wells Fargo Bank, N.A., Concord, California, and is headquartered at 1701 Westwind Drive, Suite 106, Bakersfield, CA. Sean Agrawat is the CEO of Smart Money EPS.
Table of Contents
Smart Money EPS Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
No Public Complaints
We are unable to locate any Smart Money EPS reviews, which is a good sign that the company isn’t a ripoff or a scam. Smart Money EPS has been operational for nearly a decade now, so it is surprising to see that the Smart Money EPS complaint record is clean. We will interpret this lack of client reports as a positive sign that the company is operating ethically. If you have your own Smart Money EPS review to make, please do so in the comments below.
Smart Money EPS Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Smart Money EPS. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Smart Money EPS Customer Support Options
Smart Money EPS offers phone and email contact information on its website, but it’s unclear whether these are dedicated customer service channels. This is the minimum level of service that we expect from top-rated payment processors for great customer service, and it appears to serve the company’s clients well.
Smart Money EPS Customer Service Numbers
- (888) 808-0086 – Toll-Free Support
- (661) 246-1517 – Local Office
- (661) 735-7437 – Fax
Other Support Options
- Customer service email address at [email protected]
Smart Money EPS Online Ratings
Here's How They Rate Online
No BBB Complaints
Smart Money EPS currently has an “A+” rating with the Better Business Bureau and is not accredited. The company has received 0 complaints since the BBB created its profile in December 2018. It also has not received any positive or negative informal reviews in that time.
An “A” Performance
Although the BBB has only had a profile for Smart Money EPS for less than a year, we agree with its assessment at this time. Business owners should note, however, that there are reasons to be skeptical of the BBB’s methods.
Smart Money EPS Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
Variable Contract Terms
Smart Money EPS does not disclose its pricing to the public, and there are no client comments that mention specific rates or fees charged by the company.
The company’s standard merchant agreement appears to be a resold First Data (Fiserv) contract. A standard First Data (Fiserv) merchant agreement offers a multiyear contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Businesses that process up to $50,000 each month will receive a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Businesses whose monthly charges exceed $50,000 will receive a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19.
Smart Money EPS does have the freedom to alter these terms depending on a business’ size, type, and processing history as a reseller of First Data (Fiserv). However, with a lack of readily available information on the company’s rate and fee structure, merchants considering its services should refer to First Data (Fiserv) as a point of reference.
Possible Equipment Leases
The Smart Money EPS website says that it will offer equipment leases “for customers who do not want to purchase their equipment.” It is likely that these leases would be placed through First Data Global Leasing, a poorly rated provider known to offer long-term, non-cancellable equipment leases that ultimately cost far more than the equipment’s purchase price. Businesses are advised to purchase a quality EMV terminal rather than lease equipment whenever possible.
No Red Flags
We cannot find any Smart Money EPS complaints related to the company’s pricing, and there’s no reason to believe that the company’s clients are dissatisfied with their pricing at this time. It is possible that Smart Money EPS offers a wide range of potential pricing structures, so business owners should understand how to spot undesirable terms in their Smart Money EPS contract.
We also encourage readers to check out our list of the providers of the best merchant accounts.
Smart Money EPS Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||No|
Independent Sales Agents
The Smart Money EPS website currently advertises open positions for independent sales agents, which is a good indicator that it currently employs a number of commission-only agents. The use of independent agents is commonly linked to high complaint rates, but in this case we are unable to locate any negative Smart Money EPS reviews. We will therefore assume for the time being that the company’s sales team receives adequate training and oversight.
This compares favorably to our list of best credit card processors.
No Rate Quotes
Smart Money EPS does not list any promotional rates or price guarantees on its website. Given the fact that we have not found any allegations of misleading rate quotes, it appears that the company is generally straightforward about its pricing and fees. If you suspect that a Smart Money EPS sales agent has misled you about your rates, you can double-check your monthly bill with a third-party statement audit.
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