Vanco Payment Solutions Review


Formerly known as “Veracity Payment Solutions,” Vanco Payment Solutions ( is an Atlanta-based merchant account provider that began operations in 2006. The company changed its name in May 2014, when Veracity Payment Solutions purchased Vanco Services and rebranded itself under the Vanco name. Vanco appears to process its payments through the TSYS processing network.

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. As a result, we resorted to calling sales agents to obtain more information; however, many seemed to lack intimate knowledge of the business itself. From the information that we could gather, Vanco Payment Solutions appears to be a smaller company with about 20-50 employees. Vanco Payment Solutions is a registered ISO/MSP of Wells Fargo Bank, N.A. of Walnut Creek, California, and Synovus Bank of Columbus, Georgia. Kevin Lee is listed as the CEO of Vanco Payment Solutions.

Key Points

  • Sales & Marketing: Vanco Payment Solutions appears to hire independently contracted agents but has received very few complaints about its sales team.
  • Costs & Contract: Vanco Payment Solutions appears to offer a month-to-month contract with variable rates and fees.
  • Complaints & Service: Vanco Payment Solutions has received only a handful of public complaints.
  • BBB Rating: Vanco Payment Solutions has an “A+” rating with the Better Business Bureau and has received one complaint in the past three years.
  • Rates & Fees: How Merchants Got The Best Rates With Vanco Payment Solutions

Vanco Payment Solutions Products and Services

  • Debit and credit card processing
  • ACH processing
  • Gift and loyalty programs
  • Mobile phone processing
  • Online payment gateway
  • POS equipment


  • Retail
  • Mobile
  • E-commerce
  • Non-profit
  • Faith-based organizations
  • Professional services

Sales & Marketing

Key Points - Sales & Marketing

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

Vanco Payment Solutions markets its credit card processing services in several different ways, including partnering with community banks and trade associations as well as hiring inside sales agents and outside independent sales agents. The utilization of independent sales agents would normally lower a provider’s rating, but Vanco appears to avoid most of the negative results of doing so. Additionally, Vanco does not appear to use any other misleading sales tactics or marketing in its official materials. We will therefore assign the company an “A” rating in this category for the time being.

Vanco Payment Solutions Marketing Example


Costs & Contract

Key Points - Costs & Contract

Swiped Rate 2.75% + $0.45
Keyed-in Rate 3.5% + $0.45
Early Termination Fee None
PCI Compliance Fee Variable
Equipment Lease Terms Variable

According to the agents with which we spoke, Vanco Payment Solutions offers month-to-month contracts with no cancellation fees. Processing rates and fees appear to vary according to each merchant’s processing volume and equipment needs. A copy of the company’s standard agreement from January 2015 (available below) outlines a swiped transaction fee of 2.75% plus $0.45, a keyed-in transaction fee of 3.50% plus $0.45, a registration fee of $50, and a month-to-month agreement. 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.


Complaints & Service

Key Points - Complaints & Service

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

We have located approximately five negative Vanco reviews, none of which accuse the company of being a scam. 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 lists both phone and email support information on its website.



Key Points - BBB

Product & Service Complaints 1
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

Vanco Payments Solutions currently has two Better Business Bureau profiles, with one for its Atlanta office and the other for its Minnetonka office. Both profiles are showing BBB accreditation. The profile for the Atlanta office is currently showing an “A+” rating, and the profile for the Minnetonka office also has an “A+” rating. The two profiles combined have only received one complaint in the past three years. This complaint was filed in relation to a product or service issue and was resolved to the merchant’s satisfaction. Given this information, we agree with the BBB’s rating.

Vanco Payment Solutions Logo

Vanco Payment Solutions Bottom Line

Vanco Payment Solutions appears to be a reliable merchant services provider and has maintained high marks since our previous update. Since we have not yet obtained a complete fee schedule for this provider, it is recommended that you fully read and understand your merchant account agreement before signing.

Hi, I’m Phillip and I’m disgusted by the state of credit card processing in the U.S. and abroad. I believe that the industry has been overrun by people who engage in fraud and deception in order to steal money from hard working business owners. I’ve made it my mission to expose the companies and individuals who engage in predatory marketing, pricing, and contracts, or just provide terrible service. Along with uncovering the bad guys, I’ve also discovered the good guys who do stand out from the status quo. CPO is a website where you will find ratings and reviews of these companies along with advice on how to save money and which service providers consider. Together we can move the industry in a positive direction. If you would like to help support my work, please checkout “Fee Sweep” my eGuide to getting the lowest possible fees when accepting card payments. If you haven’t heard of “interchange” this advice will save you hundreds, even thousands, in processing fees.

Schedule a Consultation with Phillip

5 Reviews Leave Your Review Below

  1. 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. 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. 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. 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. 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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