Truevo Review

Variable Contract Terms

Truevo does not disclose its pricing to the public, and there are no complaints that mention specific rates or fees charged by the company. As a high risk payment processor operational in multiple countries, it’s likely that the company’s contract terms will vary dramatically depending on each merchant’s business type, location, and processing history. Truevo does not market any credit card processing hardware, but it is possible that such hardware might come with a long-term lease. Merchants are advised to purchase their own equipment whenever possible to avoid getting locked into long-term, non-cancellable equipment leases.

High Risk Means High Fees

High risk merchants who sign up with Truevo should expect to pay higher-than-average fees, and they may also be subject to cash reserves on their accounts. This is standard practice within the industry due to the elevated risk of chargebacks that many high risk merchants pose. High risk merchants can reduce their risk of fund holds and chargebacks by being open and transparent with Truevo about their business type and product lineup from the start.

Truevo CBD Contract Terms

Truevo will consider CBD oil merchants that have an EU entity, but the company will block transactions in countries where CBD is illegal. The company’s underwriting prerequisites for CBD merchants are as follows:

• Merchants should only be shipping to countries in which the products are legal. If the merchant would still want to ship to certain countries that are not supported by Truevo, transactions from such countries will be blocked accordingly. At present, transactions from the countries listed below will be blocked for all CBD products however since international legislation is continuously changing the list may vary following a review by the risk officer and approval by the CRO:
  • Australia
  • Brazil
  • Canada
  • China
  • France
  • Germany
  • New Zealand
  • Russia
  • Slovakia
  • USA
• All products are to be in line with EU legislation with THC levels below 0.2%
• Merchants need to clearly state that all products are extracted from industrial hemp.
• Merchants need to provide independent certificates which confirm that the THC levels are within EU thresholds and that the products are derived from industrial hemp.
• Products claiming to provide medical benefits will not be approved (e.g. products that claim to cure conditions or diseases etc.)
• Merchant should only be selling via straight sales (i.e. no subscription billing)

No Red Flags

We cannot find any Truevo 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 Truevo offers a wide range of potential contract types, so merchants should understand how to spot undesirable terms in their contract.

No Public Complaints

We are unable to locate any negative Truevo reviews, which is a good sign that the company isn’t a ripoff or a scam. Truevo has been active for more than five years, so it is a positive sign to see that it has maintained such a clean complaint record. We will interpret this lack of merchant complaints as evidence that the company is operating ethically.

Truevo Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Truevo. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Truevo Support Options

Truevo lists phone and email customer support contact information on its website. This just barely meets the minimum level of service that we expect from top-rated payment processors for great customer service, but it appears to serve the company’s merchants well.

No Dedicated Profile

The Better Business Bureau does not maintain a profile for Truevo at this time. We therefore will not factor a BBB rating into this review.

Inside Sales Team

Truevo appears to rely on an in-house sales team and referral partners to market its services. We have not found any Truevo sales complaints that mention deceptive conduct. We will therefore assume for the time being that the company’s sales approach is transparent and ethical.

No Deceptive Rate Quotes

Truevo does not list any misleading rate quotes or unrealistic guarantees in its official marketing materials. If you suspect that a Truevo sales agent has misled you about your rates, you can double-check your monthly bill with a third-party statement audit.