Valued Merchant Services Review: Fees, Complaints, & Lawsuits

Month-to-Month Contract

The standard Valued Merchant Services contract is an agreement through First Data which includes a five-year commitment, a $120 annual PCI compliance fee, and a $395 early termination fee. According to a company representative, agents are encouraged to waive early termination fees, effectively making merchant agreements month-to-month contracts. This contract also includes a monthly minimum fee of $25.

First Data contracts typically include a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. However, as a reseller of these services, Valued Merchant Services reserves the right to alter the terms and conditions of merchant agreements. This means that merchants are likely to receive lower rates, as it is a popular misconception that signing up with a direct processor like First Data is cheaper than signing up with a First Data reseller. Since no online complaints refer to high rates through Valued Merchant Services, it is fair to assume the company reserves its right to offer merchants lower rates.

Terms May Vary

The company’s use of independently contracted sales agents means that it is possible for contract terms to vary depending on the agent setting up the account, and some deviation from the standard contract is to be expected in nearly all cases depending on a merchant’s business type, size, and time in business. In the event that a merchant is also signed up for an equipment lease through the company, that lease may be subject to its own cancellation policy.

Improved Contract Terms

The new Valued Merchant Services contract is a major improvement over its previous agreement, and we are currently unable to locate any Valued Merchant Services reviews that complain about the company’s contract terms. Under certain circumstances, it is possible that the company’s pricing could rival the savings offered by the cheapest merchant account providers.