Vanco Payment Solutions Review

Vanco Payment Solutions Overview

A Rebranded Credit Card Processor

Vanco Payment Solutions is a merchant account provider that 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.

A Focus on Non-Profits and Faith-Based Organizations

This reviewer’s 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. Vanco’s primary areas of focus are faith-based organizations, non-profits, education, and professional services.

Vanco Payment Solutions Location and Ownership

Vanco Payment Solutions is a registered ISO/MSP of Wells Fargo Bank, N.A. of Concord, California. The company is headquartered at 400 Northridge Road, Suite 1200, Atlanta, GA. Shawn Boom is listed as the CEO of Vanco Payment Solutions.

Vanco Payment Solutions Review Table of Contents

  • Costs & Contract: Vanco Payment Solutions offers a month-to-month contract with two different pricing plans.
  • Complaints & Service: Vanco Payment Solutions has received only a handful of public complaints.
  • BBB Rating: Vanco Payment Solutions has an “A+” rating and has received 0 complaints in the past 3 years. The company has been accredited by the Better Business Bureau since 2016.
  • Sales & Marketing: Vanco Payment Solutions does not hire independently contracted agents and has received very few complaints about its sales team.
  • Rates & Fees: How Merchants Got The Best Rates With Vanco Payment Solutions
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Products & Services Offered

  • Debit and credit card processing
  • ACH processing
  • Donation management
  • Mobile phone processing
  • Online payment gateway
  • POS equipment

Types of Businesses Served

  • Non-profit
  • Faith-based organizations
  • Professional services

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Vanco Payment Solutions Rates, Fees, and Costs

Key Points

Start Plan Rate 2.75% + $0.45
Sustain Plan Rate 2.35% + $0.35
Start Plan ACH Fee 1.00% + $0.45
Sustain Plan ACH Fee 0.80% + $0.35
Registration Fee $50
Start Plan Monthly Fee $10
Sustain Plan Monthly Fee $25
Equipment Cost $29 Per Month; $1,695 One Time Hardware Cost
Early Termination Fee $0

Two Pricing Plans

Vanco Payment Solutions offers 3 pricing plans for organizations each requiring a one-time registration fee of $50: the Start, Sustain, and Custom plans.

The Start Plan is intended for organizations that receive fewer than $250,000 in annual donations and charges a per-transaction fee of 2.75% plus $0.45, a per-transaction ACH fee of 1% plus $0.45, and a monthly service fee of $10.

The Sustain Plan costs merchants $30 per month. This plan is intended for organizations that receive between $250,000 and $500,000 in annual donations and charges a per-transaction fee of 2.35% plus $0.35, a per-transaction ACH fee of 0.80% plus $0.25, and a monthly service fee of $49. Give+ Text can be added to the Start plan for $25 per month and to the “Sustain” plan for $10, while Give+ Kiosk can be added to both plans for $45 per month. Vanco also offers the hardware for its Give+ Kiosk service for a one-time purchase price of $1,695, its mobile processing hardware for $45, and its desktop card reader for $125. It is unclear if these pricing plans are still available.

Custom pricing is available for organizations that receive more than $40,000 a month in donations. The same registration and hardware costs are affixed to this plan. However, pricing for transaction rates are 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 early termination fee. 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. See the Vanco Merchant Agreement.

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Response from Vanco Payment Solutions

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Vanco Payment Solutions Complaints & Customer Reviews

Key Points

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. Therefore, Vanco retains its “A” rating in this section.

Vanco Lawsuits

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

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.

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Response from Vanco Payment Solutions

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Vanco Payment Solutions 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

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 0 complaints filed in the past 36 months.

An “A” Performance

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

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Response from Vanco Payment Solutions

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
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 complaints 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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Response from Vanco Payment Solutions

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Vanco Payment Solutions Marketing Example

Vanco Logo

Our Opinion of Vanco Payment Solutions

Decent Option for Non-Profits and Faith-Based Orgs

Vanco Payment Solutions appears to be a reliable merchant services provider for non-profits and faith-based organizations alike. The company has maintained high marks since our previous update and has not amassed a significant number of complaints. Even when dealing with highly rated providers, you are encouraged to fully read and understand your merchant account agreement before signing.

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Thank you for reading my review. I hope that it has helped you with your research.

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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5 Reviews Leave Your Review for Vanco Payment Solutions Below

  1. Carol Scanlon says:

    Bill Pay received my money from my credit union in Idaho on 8/23. They were instructed to send the money to my credit union in Texas. Now, ICCU shows money sent to Bill Pay and TruWest shows it hasn’t been received. Now, Bill Pay says they have 5 days from (8/24) when it was scheduled to be paid, BEFORE they can research this transaction and supply TruWest with a transaction number for any research to begin! Hmmmm, I wonder what Bill Pay did with my money???? I do have to wonder if it is sitting in an account somewhere or has been electronically paid out incorrectly by Bill Pay. Bill Pay is showing up on the proof of payment as Vanco. Maybe they have my money????? I’m very, very, very disappointed in the unprofessional way that this transaction has been handled. I will find out what happened to my $500+ cash. And when I do………… I will write an update! And tell every single reviewing site, BBB, etc. of their poor customer service and unapologetic procedures! We’re NOT talking $20 here!

  2. Marianne says:

    Very very frustrated with Vanco.

    My old cc machine was no longer useful to me, we switched over to a VOIP phone line. In the interim I asked them to have sales contact me about getting Virtual Terminal set up. It’s been two weeks and no contact from them. I called twice in the past week with zero follow through.

    To work around I attempted to do a Voice Authorization however it will not post to my account without a machine. I ordered a machine from the famous auction site, contacted Vanco immediately to get a V Number build up started. This was last Thursday.

    I called once yesterday (Monday) about it, it was not established. ONCE AGAIN I requested to have a virtual terminal set up/have someone contact me. Neither the V Number is yet established after SEVERAL phone calls today nor have I been contacted by any one in their company about setting up an alternate system of payment. Meanwhile I have >$5k in charges pending with additional charges that need to be taken care of.

    I am beyond frustrated with Vanco at this point. If I was not overwhelmed with the business end of things I would immediately switch merchants. I overpay for this level of customer service (NONEXISTENT). I would NEVER ever recommend them. I’ve been dealing with this for over two weeks now and am nowhere near having this resolved.

    Are you with Vanco? Learn how to resolve this complaint.

  3. Ronald Young says:

    My personal experience with Vanco (their phone system still identifies themselves as Veracity) is totally at odds with the review provided by CPO. They may serve their business customers adequately, but their attention to users of the systems they provide their business customers has been sorely lacking in my case. If business customers want to risk poor customer relations as a result of contracting with Vanco, that is of course their decision.

  4. Cindy Artrip says:

    I had a problem with their equipment failing and they would not replace the terminal without charging me $95. I had been a reliable customer for many years with MTG and Verasity bought them out. Since the switch over, they will not back their equipment. Management wouldn’t speak to me or even send me a power cord to see if that was the problem. Needless to say, they lost me as a customer and soon my husbands business will drop them too. In todays economy it is important to keep your customers happy and they failed in that department. I’m sure another company will be more than happy to help us out.

  5. Veronica Kitayama says:

    Can a business charge a customer $0.50 for a credit card purchase that is less than a certain amount? Is that legal?
    I made a charge card purchase today that was $14.05 and was told by the cashier that I was being charged $0.50 in addition to my charge total because it was under $40.
    Is this allowable by Veracity?
    Please advise.
    Thank you
    Veronica Kitayama

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