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Verotel Credit Card Processing 2023: Reviews & Complaints
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Founded in 1998, Verotel is a merchant account provider that specializes in high-risk e-commerce transactions with an emphasis on selling digital goods and viewer subscriptions. The company also does business as GayCharge, which allows merchants to accept credit cards while protecting customers’ sexual identity.
Issues with Fund-Holds
High-risk businesses face a unique set of challenges compared to standard-risk businesses. Fund-holds are among those issues. Dozens of merchants have had their payments frozen by Verotel. If you’re one of them, then you might find these resources helpful:
- How To Make Your Payment Processor Release Your Money
- How to Fight Chargebacks
- Best Merchant Accounts for Hard-To-Place Business Types
Verotel Payment Processing
Verotel advertises that they process credit and debit cards for standard and high-risk businesses, with a specific focus on online adult entertainment and other sexual industries. They advertise a multilingual 24/7 support system, business IBANs, processing of multiple currencies (USD, GBP, EUR), the ability to payout talent easily, and the Bitsafe platform of payment tools, which includes a business debit card, mass and automated payments, payout reporting, and pairing accounts. They have a focus on being able to payout adult talent worldwide with ease.
Verotel’s Online Payment Gateway
The company provides an online payment gateway service that enables businesses to accept and process online transactions. This service is integrated into the business’s website, allowing customers to make payments conveniently and securely.
Subscription Billing Service by Verotel
Verotel offers a subscription billing service, enabling businesses to set up recurring payments for their customers. This service is particularly useful for companies that provide ongoing services or products on a subscription basis.
Fraud Screening with Verotel
To protect businesses and their customers, Verotel provides a fraud screening service. This service helps detect and prevent fraudulent transactions, thereby safeguarding the interests of all parties involved.
Location & Ownership
The company was initially based in San Francisco but has since relocated to its current headquarters in Amsterdam. Verotel does not publicly list an acquiring bank, and the company is headquartered at Danzigerkade 23D, 1013 AP, Amsterdam, Netherlands. Joost Zuurbier is listed as the most recent CEO of Verotel.
Table of Contents
Verotel Customer Reviews
Here's What Their Clients Say
|Total Online Complaints||10+|
|Live Customer Support||No|
|Most Common Complaint||Fund-Holds|
A Sudden Decline In Service
We’ve located more than 10 negative Verotel reviews filed within the last three years, with even more posted before then. These Vertoel reviews seem to be neatly divided between the company’s time in San Francisco and its time in Amsterdam. Back when it was based in San Francisco, Verotel mostly saw complaints regarding fraudulent transactions and frozen accounts, with the consensus being that the company was not a scam. Since its move to Amsterdam, however, most complaints cite poor or unreachable customer service, billing errors, and sudden account cancellations. Some complaints also seem to be related to products sold by Verotel merchants rather than Verotel itself. If you have your own Verotel review to make, please do so in the comments below.
A Purge In 2012
In 2012, the company switched its pricing to its current multi-tier model and suddenly canceled all accounts that did not meet its requirements for the Basic plan. This incident is the subject of multiple client complaints, some of which can be seen in this thread on WebHostingTalk.com. Many of the businesses affected by Verotel’s 2012 mass shutdown would have been better served by a high-risk specialist.
A Negative Trend Overall
In general, the company is showing a low-to-moderate number of complaints for its size and specialty, but the recent trend of complaints regarding its poor customer service is concerning enough to lower its score to a grade of “B.” The company website lists a dedicated support email address and several support phone numbers for merchants in different countries.
Verotel Lawsuits and Fines
We have not found any outstanding class-action lawsuits or FTC complaints filed against Verotel. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Verotel Customer Support Options
The Verotel website lists an email address and dedicated phone numbers for customer support. The company provides different customer service phone numbers for clients based in the US, EU, Netherlands, and other countries.
Verotel Customer Service Numbers
- 877-925-1877 – Toll-Free Customer Support (US)
- 00-800-44229999 – EU
- 020-5315757 – Netherlands
- +31 20 5315757 – Other Countries
- +31 20 5315758 – Fax
Other Support Options
Verotel Online Ratings
Here's How They Rate Online
No Dedicated Profile
The Better Business Bureau no longer maintains a profile for Verotel due to the company’s relocation to Amsterdam. We will therefore not factor a BBB rating into the company’s overall grade.
Verotel Fees, Rates & Costs
A Closer Look at The Contract
|Monthly & Annual Fees||Yes|
Verotel caters primarily to high-risk e-commerce businesses that need to accept subscription payments from a global customer base. As a result, its pricing should not be expected to compete with the rates offered by traditional processors. Verotel offers two pricing plans for businesses: Basic and Premium. The Basic plan enables merchants to accept recurring payments for an annual fee of €500 and a transaction fee of 15.5% per subscription payment, and it includes a six-month rolling reserve of 10%.
Premium Pricing Option
The Premium account allows for both recurring billing and unique transaction amounts (via Verotel FlexPay), but in lieu of an annual fee, it requires a weekly processing minimum of €1000 and will assess a monthly minimum fee of €25 if this processing requirement is not met. Like the Basic account, the Premium account also enforces a six-month rolling reserve of 10%, but it does offer lower processing fees ranging from 13% to 14% depending on a merchant’s weekly volume.
No Long-Term Contracts
Reasonable Pricing for High-Risk E-Commerce
In general, Verotel’s rates are very high compared to the rates offered by its competitors, but Verotel may be one of only a few options available for high-risk merchants in the adult content, nutraceuticals, and weapons industries who cater to overseas customers. Due to its willingness to take on these merchant types, Verotel enforces higher processing rates for businesses with high chargeback ratios and also establishes cash reserves to ensure that it is protected from risk. These policies are the cause of many negative Verotel reviews, but it does not appear that Verotel is enforcing them in an especially abusive manner. Business owners should be sure that they fully understand the company’s fraud prevention policies before signing up for an account through Verotel.
We also encourage merchants to check out our list of the providers of the best merchant accounts.
Verotel Employee Reviews & Sales Tacitcs
Should You Work For Them?
|Uses Independent Resellers||No|
|Discloses All Important Terms||No|
No Misleading Tactics
Verotel appears to market itself primarily through its website and through affiliate partnerships. There is no indication at this time that the company utilizes a team of independent sales agents, and we have found no negative Verotel reviews that mention unethical conduct by the company’s sales team. According to Verotel reviews, Verotel is a popular processing option among digital content businesses that need to collect subscription payments from a global customer base—a typically underserved industry with limited options for payment acceptance. Given the lack of Verotel complaints about the company’s sales force and the absence of any misleading rate promotion on its website, we will award Verotel an “A” in this category for the time being.
This compares favorably to our list of best credit card processors.
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