Smart Money EPS Review: Fees, Comparisons, Complaints, & Lawsuits

Smart Money EPS
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Smart Money EPS

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PhonePhone(661) 246-1517 View Pricing

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A Reseller of First Data Products

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.

Smart Money EPS Location and 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.

Smart Money EPS Review Table of Contents

  • Costs & Contract: Smart Money EPS appears to offer variable contract terms that may include long-term leases.
  • Complaints & Service: Smart Money EPS complaints number fewer than 10 on public complaints forums.
  • BBB Rating: Smart Money EPS currently has an “A+” rating and has received 0 complaints in the last 3 years. The company is not accredited by the Better Business Bureau.
  • Sales & Marketing: Smart Money EPS hires independent sales agents but has not received any complaints about its sales practices.

Should You Trust Smart Money EPS?

Lawsuits, Reviews & Complaints

Here's Who We Trust.

Complaint Summary

Total Online Complaints
Live Customer Support
Most Common Complaint

No Public Complaints

We are unable to locate any Smart Money EPS complaints, 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 merchant reports as a positive sign that the company is operating ethically. If you have your own Smart Money EPS complaint 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 merchants 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 Service 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 merchants well.

We have located multiple Smart Money EPS customer service phone numbers:

(888) 808-0086 – Toll-Free Support
(661) 246-1517 – Local Office
(661) 735-7437 – Fax

Smart Money EPS also offers a customer service email address at

Is the BBB Rating for Smart Money EPS Accurate?

Better Business Bureau Profile

See Which Processors Offer No Monthly Fees And No Contracts.

BBB Summary

Product & Service Complaints
Billing & Collection Complaints
Advertising & Sales Complaints
Guarantee & Warranty Complaints
Delivery Complaints

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. Merchants should note, however, that there are reasons to be skeptical of the BBB’s methods.

How Expensive is Smart Money EPS Service?

Rates, Fees, and Contract Terms

Don't Fall Into An Expensive Trap. See Who The Worst Processors Are.

Cost Summary

Swiped Rate
2.69% + $0.19
Keyed-In Rate
3.69% + $0.19
Early Termination Fee
PCI Compliance Fee
$19.95 Per Month
Equipment Lease Terms
48 Month (locked)

Variable Contract Terms

Smart Money EPS does not disclose its pricing to the public, and there are no merchant comments that mention specific rates or fees charged by the company.

The company’s standard merchant agreement appears to be a resold First Data contract. A standard First Data merchant agreement offers a multiyear contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Merchants who 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. Merchants 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 merchant’s size, business type, and processing history as a reseller of First Data. 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 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. Merchants 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 merchants are dissatisfied with their pricing at this time. It is possible that Smart Money EPS offers a wide range of potential pricing structures, so merchants should understand how to spot undesirable terms in their Smart Money EPS contract.

We also encourage merchants to check out our list of the providers of the best merchant accounts.

Does Smart Money EPS Use Deceptive Marketing?

Advertising & Sales Strategy

Audit Your Current Statement To Find Its Hidden Fees

Processing statements are intentionally complicated so that they can overcharge you. Get clarity before you switch.

Key Points

Employs Independent Resellers
Advertises Deceptive Rates
Discloses All Important Terms

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 Smart Money EPS complaints. 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.

Does Smart Money EPS Deserve Your Business?

Review Summary & Our Thoughts

A Solid Option for Standard-Risk Businesses

Smart Money EPS rates as a reliable merchant services provider according to our rating criteria. The company enjoys a clean complaint record and does not appear to engage in deceptive sales tactics. However, merchants should be aware that we have not found detailed information about the company’s pricing and fees. We will continue to monitor the company and update this review as needed. For now, merchants should be sure to compare Smart Money EPS’s pricing and service to that offered by other top-rated credit card processors.

Customer & Employee Reviews

What Others Are Saying About Smart Money EPS

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Phillip Parker
Credit Card Processors
< 1 min read
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