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How Vanco Payment Solutions Compares to Other Nonprofit Payment Processors

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Vanco Payment Solutions

Rating
A
5/5
full starfull starfull starfull starfull star

Pros and Cons of Vanco Payment Solutions

Pros

Secure transactions
Multiple payment options
User-friendly interface
Integration capabilities
Transparent pricing plans

Cons

Monthly service fees
Transaction fees apply
Limited customization options
Potential integration issues
Limited mobile features

Overview

Vanco Payment Solutions, based in Atlanta, provides payment processing services tailored to nonprofit, faith based, educational, and professional organizations. In this review, we cover their offerings such as virtual terminals, mobile and text payments, kiosks, and card swiper options. We also examine their pricing and contract terms, which include a registration fee and monthly service charges, while noting that Vanco provides flexible agreements with no cancellation penalties. The review highlights customer feedback on service quality, payment delays, and concerns about hidden or inconsistent fees. By the end, you will have a clear understanding of whether Vanco Payment Solutions is the right choice for your organization’s payment processing needs.

About Vanco Payment Solutions

Screen Capture of Vanco Payment Solutions Homepage
Vanco Payment Solutions Homepage

Vanco Payment Solutions is headquartered in Atlanta, Georgia. The merchant account provider was originally founded in 1998 as “Vanco Services.” The company achieved its current form in May 2014, when Veracity Payment Solutions purchased Vanco Services and rebranded itself as Vanco Payment Solutions. This review originally covered Veracity Payment Solutions, but it now focuses on the merged entity that is Vanco Payment Solutions. According to a company representative, Vanco processes payments through First Data (now Fiserv).

Products & Merchant Services

Payment Processing

Our initial request for additional information about Veracity Payment Solutions and its business practices went unanswered by the company, both through phone calls and emails to the marketing department. However, a representative of Vanco Payment Solutions has contacted us to say that Vanco has more than 100 employees and that Vanco’s primary areas of focus are faith-based organizations, non-profits, education, and professional services.

Virtual Terminals

Virtual Terminals are another key component of Vanco’s services. These are web-based systems that allow users to process payments manually by entering payment information into a secure online interface.

Mobile/Text Payments

Mobile/Text Payments represent Vanco’s solution for transactions conducted via mobile devices. This service enables users to send and receive payments through mobile apps or text messages.

Payment Kiosks

Kiosks are physical terminals offered by Vanco that facilitate self-service transactions. These kiosks are often used in locations such as retail environments or event venues where users can make payments or complete transactions independently.

Card Swipers

Card Swipers are devices that read information from credit or debit cards. Vanco’s card swipers are designed to integrate with payment processing systems, allowing businesses to accept card payments directly at the point of sale.

Streaming

Streaming is another service provided by Vanco, which includes solutions for processing payments during live events or online broadcasts.

Customer Reviews & Sentiment

Moderate Complaint Volume

We have identified approximately five negative Vanco Payment Solutions reviews, none of which allege fraudulent activities by the company. Complaints primarily revolve around issues with customer service responsiveness, delayed payouts, and software/hardware performance. While this represents a slight increase in complaints since our last review update, it remains relatively low considering Vanco’s scale and tenure in the industry. If you have feedback to share, please contribute your own Vanco Payment Solutions review in the comments section below.

Vanco Legal Standing

No class-action lawsuits or FTC complaints have been filed against Vanco. Clients seeking alternative recourse are advised to report concerns to relevant supervisory organizations.

Vanco Customer Support

Vanco provides both phone and email support options, although these channels do not currently meet the criteria for designation as a top-rated payment processor for customer service.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop1
BBB RatingN/A

PaymentPop Rating for Vanco Payment Solutions

Negative Feedback

There are no negative reviews published about Vanco Payment Solutions on the PaymentPop website.

Positive Feedback

My church recently went to using your service. At the end it asks if I want to add a specified amount to cover the cost. When I said yes, an amount was added to each area I had donated to so that I ended up paying more than the cost amount stated.

Vanco Payment Solutions BBB Rating

Vanco Payments Solutions currently has two Better Business Bureau profiles, with one for its Atlanta office and the other for its Minnesota office. Both profiles are showing BBB accreditation. The profile for the Atlanta office is currently showing an “A+” rating, and the profile for the Minnesota office also has an “A+” rating. The two profiles combined have 1 complaint filed in the past 36 months. The 1 complaint was either resolved to the dissatisfaction of the client or received no final response.

What Merchants Say

Vanco Payments Solutions also has 0 informal reviews on its BBB profile, though there was a previous review which was positive in tone. The only review filed by a client cited a pleasant sales experience and quality customer service from Vanco Payments Solutions :

I’m the Treasurer for **** Presbyterian Church, ****** *****, NJ and our church has been using VANCO services since 2011 and have received outstanding professional service and support. I say thank you to those in leadership and service support staff who provide this service. Very appreciative of this tool, makes my job easier. Although there are various new apps coming along, but I stand fast with VANCO.

An “A” Performance

Given this information, we agree with the BBB’s rating. Readers should note, however, that there are reasons to be skeptical of the BBB’s information.

Processing Rates & Fees

Two Pricing Plans

Vanco Payment Solutions provides 3 pricing plans, each with a one-time $50 registration fee. The plans are “Grow”, “Thrive”, and “Custom”.

The “Grow” plan caters to organizations with annual donations under $250,000. It includes a 2.90% plus $0.45 transaction fee, a 1% plus $0.45 ACH fee, and a $10 monthly service fee.

For organizations with $250,000 to $500,000 in annual donations, the “Thrive” plan is available at $49 per month. This plan has transaction fees of 2.65% plus $0.39, ACH fees of 0.90% plus $0.39, and the same monthly service fee. The “Thrive” plan includes Give+ Text; this feature can be added to the “Grow” plan for an additional $10 per month. Vanco also sells processing hardware for a one-time fee.

The “Custom” plan is designed for organizations with monthly donations over $40,000. It shares the registration and hardware costs of the other plans but features personalized transaction rate pricing.

Vanco Payment Solutions Contract Terms

Vanco Payment Solutions reportedly offers month-to-month contracts without cancellation fees. An available copy of the company’s standard agreement from January 2015 aligns with the current Start plan. While these terms don’t position Vanco among the most affordable merchant accounts, they are nonetheless flexible. Additional insights on Vanco’s merchant account agreement, including details on PCI compliance fees or monthly minimum fees, can be shared in the comments. See the Vanco Merchant Agreement for more information.

Vanco Payment Solutions pricing
Vanco Payment Solutions provides diverse pricing options for their services

Employee Reviews & Sales Practices

Varied Sales Approach

Vanco Payment Solutions markets its credit card processing services in several different ways, including partnering with faith-based organizations and software companies as well as hiring a team of sales agents. A Vanco representative has stated that this sales team consists of full-time employees. This assertion is supported by the fact that there are no Vanco Payment Solutions reviews that accuse the company of deceptive sales tactics.

No Deceptive Marketing

Additionally, Vanco does not appear to use any misleading rate quotes or unethical marketing in its official materials. We will therefore assign the company an “A” rating in this category for the time being. If you are concerned that Vanco is overcharging you, we recommend seeking a third-party statement audit to eliminate hidden fees.

Vanco Payment Solutions Competitors

Compare Vanco Payment Solutions to competitors that earned top marks.

Bottom Line

Vanco Payment Solutions stands out as a reliable credit card processing provider for non-profits and faith-based organizations. The company continues to receive high ratings since our last evaluation and has consistently maintained a strong reputation, with few complaints to its name. This solid performance attests to Vanco’s commitment to providing tailored solutions for its unique clientele. However, even when engaging with top-rated providers, it’s crucial to fully understand the details of your merchant account agreement before signing. Carefully reviewing the terms will help ensure that the contract aligns with your organization’s specific needs and financial considerations, providing a transparent and beneficial processing solution.

Read Actual User Reviews

All user reviews have been moved to our partner, PaymentPop.com

Contact Vanco Payment Solutions

Contact & Customer Support
CEOJim McGinnis
Executive ChairmanShawn Boom
Headquarters5600 American Blvd W. Suite 400, Bloomington, MN 55437.
Toll-Free General Customer Service(888) 237-7850
Sales(866) 349-0613
Headquarters(855) 704-4404
Operations Office(800) 675-7430
Fax(770) 518-5961
Additional Support ChannelsOnline Contact Form
Websitevancopayments.com