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Vanco Payment Solutions: Card Processing Reviews & Complaints
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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).
Before we dive in, here’s a short summary of what we’ll cover:
- Vanco Payment Solutions’ various payment processing services.
- The company has received few complaints.
- Vanco works primarily with faith-based organizations and non-profits.
- The company has tiered pricing for various needs.
Vanco Payment Solutions 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. Vanco Payment Solutions processes all major debit and credit cards through the following services: online payments through virtual terminals, mobile, text payments, kiosks, card swiping, and streaming.
Location & Ownership
Vanco Payment Solutions is a registered ISO of Wells Fargo Bank, Concord, CA. Vanco Payment Solutions is located at 5600 American Blvd W. Suite 400, Bloomington, MN 55437. Shawn Boom is listed as the Executive Chairman of Vanco Payment Solutions while Jim McGinnis is CEO.
Table of Contents
- Costs & Contract: Offers a month-to-month contract with…
- Complaints & Service: Has received only a…
- BBB Rating: Has an “A+” rating and has received 0 complaints and…
- Sales & Marketing: Does not hire independently contracted agents and has…
Vanco Payment Solutions Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||<10|
|Live Customer Support||Yes|
|Most Common Complaint||N/A|
Low Complaint Total
We have located approximately five negative Vanco reviews, none of which accuse the company of being a scam or a ripoff. The issues cited by complainants include unhelpful or unresponsive customer service, delayed payouts, and subpar or malfunctioning software and hardware. Although this represents an increase in complaints since our last update of this review, it is still a low complaint total for a company of Vanco’s size and time in business. If you have your own Vanco Payment Solutions review to make, please do so in the comments below.
We have not found any outstanding class-action lawsuits or FTC complaints filed against Vanco. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Vanco Customer Support Options
Vanco lists both phone and email support information on its website, but these channels are not sufficient to qualify it as a top-rated payment processor for customer service at this time.
Vanco Customer Service Numbers
- (888) 237-7850 – Toll-Free General Customer Service
- (866) 349-0613 – Sales
- (855) 704-4404 – Headquarters
- (800) 675-7430 – Operations Office
- (770) 518-5961 – Fax
Other Support Options
Vanco Payment Solutions Online Ratings
Here's How They Rate Online
No BBB Complaints
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.
Vanco Payment Solutions Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
|Equipment Leasing||No (Sells Directly)|
Two Pricing Plans
Vanco Payment Solutions offers 3 pricing plans for organizations, each requiring a one-time registration fee of $50. The plans are named the “Grow”, “Thrive”, and “Custom” plans.
The “Grow” plan is intended for organizations that receive less than $250,000 in annual donations and charges a per-transaction fee of 2.90% plus $0.45, a per-transaction ACH fee of 1% plus $0.45, and a monthly service fee of $10.
The “Thrive” plan costs businesses $49 per month. This plan is intended for organizations that receive between $250,000 and $500,000 in annual donations, and it charges a per-transaction fee of 2.65% plus $0.39, a per-transaction ACH fee of 0.90% plus $0.39, and a monthly service fee of $49. Give+ Text can be added to the “Grow” plan for $10 per month and comes with the “Thrive” plan. Vanco also offers processing hardware for its services for a one-time purchase price.
“Custom” plans are available for organizations that receive more than $40k a month in donations. The same registration and hardware costs are affixed to this plan. However, pricing for transaction rates is customized for each organization under this plan.
Vanco Payment Solutions Contract Terms
According to the company’s sales agents, Vanco Payment Solutions offers month-to-month contracts with no cancellation fees. A copy of the company’s standard agreement from January 2015 is available below. It appears that the terms of this contract match up with the company’s current Start plan. The company’s terms do not quite earn it a place among the cheapest merchant accounts available. If you have any further information regarding Vanco’s merchant account agreement (including any PCI compliance fees or monthly minimum fees), please leave it in the comment section below. Also, see the Vanco Merchant Agreement.
Vanco Payment Solutions Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||Yes|
|Discloses All Important Terms||Yes|
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.
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