UniBul Merchant Services Review

UniBul Merchant Services Overview

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Payment Processing for High Risk Industries

UniBul Merchant Services is a merchant account provider that specializes in payment processing for high risk business types. Founded in 2007, the company does not list an acquiring bank on its website, but it is likely partnered with a number of backend processors and acquirers in order to serve its international and high risk merchants. One of these backend processors appears to be First Data, and there are some sources that list the company’s acquiring bank as Wells Fargo.

UniBul Merchant Services Location and Ownership

UniBul is headquartered at 71 Commercial Street Suite 110, Boston, MA. Metodi Slavenov is listedas the company’s founder and CEO.

UniBul Merchant Services Review Table of Contents

  • Costs & Contract: UniBul appears to offer variable contract terms depending on the merchant’s business type and processing history.
  • Complaints & Service: UniBul has received fewer than 10 public complaints.
  • BBB Rating: UniBul has an “A+” rating with the Better Business Bureau and has received 0 complaints in the past 3 years.
  • Sales & Marketing: UniBul does not appear to hire independent sales agents and has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With UniBul
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Products & Services Offered

Types of Businesses Served

  • Retail
  • E-commerce
  • MOTO
  • International
  • Offshore
  • High risk

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UniBul Merchant Services Rates, Fees, and Costs

Key Points

Swiped Rate 1.00% - 4.99% or Interchange-Plus
Keyed-in Rate 1.00% - 4.99% or Interchange-Plus
Virtual Terminal Rate 1.00% - 4.99% or Interchange-Plus
Payment Gateway Fee Undisclosed
Statement Fee Up To $10 Per Month
Early Termination Fee Undisclosed
PCI Compliance Fee $99
Equipment Lease Terms Undisclosed

Variable Contract Terms

There is very little publicly available information about the standard UniBul contract at this time. The company does not disclose whether it charges a PCI compliance fee or an early termination fee, and it is unclear whether it offers month-to-month or multiyear contracts. We found one complaint that mentioned a PCI compliance fee of $99, but it’s possible that this amount may vary.

UniBul Per-Transaction Fees

It seems that UniBul offers both tiered pricing and interchange-plus pricing but it emphasizes interchange-plus pricing for most of its merchants. According to the company’s blog, a reasonable interchange-plus rate for a storefront (card present) merchant is approximately 0.35% plus $0.15 per transaction, while the same merchant should not pay more than 1.69% plus $0.25 for Qualified credit card transactions under a tiered pricing plan. UniBul also states that maintenance or statement fees should not exceed $10.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Unibul also dedicates a portion of its website that advertises its virtual terminal and payment gateway services. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.

Pricing Varies According to Risk

It is likely that UniBul keeps the details of its pricing vague at least in part to give it some flexibility when setting pricing for high risk merchant types. High risk merchants typically pay higher rates in order to compensate for the perceived risk associated with their business types. For this reason, merchants should expect their UniBul pricing and fees to vary significantly depending on their processing histories and the products they sell. To UniBul’s credit, we cannot find any negative reviews that mention excessive fees or unreasonably high pricing. If you have any specific knowledge of the standard UniBul contract, please share that information in the comment section below this review.

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Response from UniBul Merchant Services

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UniBul Merchant Services Complaints & Customer Reviews

Key Points

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

Low Complaint Total

We have located only 1 negative review about UniBul across merchant review and consumer protection websites, which is a good indicator that the company does not scam or rip off its merchants. No merchants have left complaints about the company in the comment section of this review either. The lone complaint available online describes difficulty reaching a customer support representative and also suggests that the company’s standard support line is unable to assist with specific account details. It is countered by a positive review on that same website as well as a large number of unverified positive testimonials on the UniBul website. We are therefore inclined to regard it as an isolated incident.

UniBul Merchant Services Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against UniBul Merchant 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.

UniBul Merchant Services Customer Support Options

UniBul offers a dedicated phone support number as well as a few departmental email addresses for merchants. It is unclear at this time whether the company’s support line goes directly to UniBul or is instead routed to the company’s backend processors. In any case, UniBul’s low complaint total suggests that merchants may receive a customer support experience on par with those offered by top-rated payment processors for great customer service.

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Response from UniBul Merchant Services

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UniBul Merchant Services BBB Rating Summary

Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Clean Complaint Record

UniBul Merchant Services currently has an “A+” rating with the Better Business Bureau and is not accredited. The company has received 0 complaints in the past 36 months. It has also received 0 informal reviews on its profile, although it’s worth noting that these reviews are not always subject to BBB verification.

An “A” Performance

In light of the company’s clean complaint record, we agree with the BBB’s rating. However, merchants should be aware that there are good reasons to be skeptical of the BBB’s rating system.

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Response from UniBul Merchant Services

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers No
Advertises Deceptive Rates Yes
Discloses All Important Terms No

Inside Sales Team

UniBul appears to primarily utilize traditional advertising and strategic partnerships to market its services. There is no indication at this time that the company engages in “hiring mill” practices or aggressive telemarketing campaigns. There are also no complaints online that describe nondisclosure or misrepresentation by UniBul sales agents.

Previous UniBul Rate Quotes

UniBul’s website and public press releases provide conflicting information regarding the company’s pricing. Its former “Rates and Fees” page, which is no longer accessible, listed four different rates for retail, e-commerce, MOTO, and wireless merchants. These rates appeared to be Qualified “teaser” rates, as they listed flat fees without also showing the Mid-Qualified and Non-Qualified rates that merchants will pay on the majority of their transactions. If you suspect that UniBul has hidden some of its fees in your contract, you can double-check your monthly bill with a third-party statement audit.

Other UniBul Rate Quotes

Normally, we would lower the company’s grade for posting incomplete quotes on its website. However, in other resources offered by the company (including this press release and this breakdown of credit card rates) the company actively promotes interchange-plus pricing and clearly outlines why it is more affordable than tiered pricing in most cases. After surveying these resources and announcements, it seems most likely that the company primarily offers interchange-plus and has simply not removed the tiered pricing quotes from its website. Based upon this favorable assumption, we will give UniBul an “A” rating for the time being.

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Response from UniBul Merchant Services

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UniBul Merchant Services Logo

Our Opinion of UniBul Merchant Services

A Good Option for High Risk Merchants

UniBul Merchant Services rates as a reliable merchant services provider for traditional and high risk merchants. The company is showing very few complaints across all consumer protection websites and appears to offer interchange-plus pricing. However, the mixed messages in its marketing and the lack of clarity surrounding its contract terms should motivate merchants to read and understand all contract terms before signing up for service. Merchants who do not require high risk payment processing can likely obtain a more competitive deal from a top-rated standard-risk specialist.

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Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

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