Vision Bankcard Review: Fees, Comparisons, Complaints & Fees

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4.3
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Note: As of August 2021, the Vision Bankcard website does not appear to be functioning. It appears the company is out of business, and as such we will no longer be updating this profile. If you have any information that the company is still in business, please let us know in the comments below.

Headquartered in Orem, Utah

Vision Bankcard is a merchant account provider based in Orem, Utah. Founded in 1995, it is the parent organization of Dynamic Payment Solutions. The website for Dynamic Payment Solutions lists the company's backend processor as Global Payments.

Connection to Paymall

In the time since the initial publication of this review, we have noticed a large number of complaints filed against Paymall (paymall.com), an apparently defunct online marketplace that may have been owned by Vision Bankcard. According to multiple complaints, Vision Bankcard is Paymall's backend payment processor, and these complaints also indicate that Vision Bankcard often withholds large sums from merchants if the company detects fraudulent transaction activity by merchants. Paymall was based in the UK and did not disclose any affiliation with Vision Bankcard on its website, but the consistency of merchant complaints to this effect makes it very likely that there was some connection. The fact that at one point Vision Bankcard's URL was “vendor.paymall.com” seems to prove some affiliation between the two companies.

Vision Bankcard Location & Ownership

Vision Bankcard is a registered ISO/MSP of Deutsche Bank AG, New York, and its headquarters can be found at 3214 N University Ave Ste 133 Provo, UT 84604. Jeff Knowles is listed as the CEO at Vision Bankcard.

Vision Bankcard Review Table of Contents

  • Costs & Contract: Vision Bankcard appears to offer variable contract terms through Global Payments.
  • Complaints & Service: Vision Bankcard has received more than 10 public complaints.
  • BBB Rating: Vision Bankcard has an “A+” rating with the Better Business Bureau and has received 0 complaints and 0 reviews in the past 3 years.
  • Sales & Marketing: Vision Bankcard does not appear to hire independent sales representatives and has not received any complaints about its sales practices.

Vision Bankcard Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints 10+
Live Customer Support Yes
Most Common Complaint Fund Holds

Low Complaint Total

We are currently able to locate approximately fifteen negative Vision Bankcard reviews, nearly all of which are related to transactions through Paymall. These complaints consistently report withheld funds, difficulty reaching customer support, and delayed payouts. The amounts in dispute vary but can be very large, up to tens of thousands of dollars.

Vision Bankcard Lawsuits and Fines

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

Vision Bankcard Customer Service Options

The company offers phone and email contact information on its website, but it’s unclear how well these channels function in comparison to top payment processors for customer service. Paymall users seemed to have the most negative things to say about the company, but if Vision Bankcard has done away with its online marketplace entirely, then its merchant feedback is likely to improve over time. As of now, Vision Bankcard is not showing any complaints related to its general merchant services.

Vision Bankcard Online Ratings

Here's How They Rate Online

Online Ratings Summary
Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

One BBB Complaint

Vision Bankcard currently maintains an “A+” rating with the Better Business Bureau and has not received BBB accreditation. The company is showing 0 complaints in the past 36 months.

What Merchants Say

Vision Bankcard’s BBB profile has received 0 reviews in the last 36 months. Prior to that period, the company had received 1 informal review. The lone review was negative in tone, making an accusation of theft:

JEFF K****** STOLE OVER $250,000 FROM US. He is a criminal and liar.

It should be noted that informal reviews, unlike complaints, are not verified for authenticity by the BBB. Given our review of merchant reviews of Vision Bankcard, there is reason to be skeptical of this accusation. However, any instance of fraudulent activity on a merchant account should be reported to the relevant supervisory organizations.

An “A” Performance Overall

The fact that Vision Bankcard has one unanswered complaint inclines us to agree with the BBB’s rating at this time. However, merchants should not solely rely on the BBB for validation of a company’s trustworthiness, as there are valid reasons to be skeptical of BBB grades.

Vision Bankcard Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swiped Rate 1.00% - 4.99%
Keyed-in Rate 1.00% - 4.99%
Virtual Terminal Rate 2.90% + $0.30
Payment Gateway Fee $25 Per Month
Batch Fee $0.10
Monthly Fee $10
Early Termination Fee $500 or Liquidated Damages
Annual Maintenance Fee $299
Equipment Lease Terms 48 Month (locked)

Vision Bankcard Contract Terms

There is very little specific information available about the standard Vision Bankcard contract. The company’s backend processor appears to be Global Payments, so it is possible that the standard Vision Bankcard agreement resembles the standard Global Payments agreement. A Typical Global Payments contract includes an early termination fee of $500 per location or Liquidated Damages, whichever is greater, which is as expensive as termination fees get. However, it appears that the service length agreement and early termination fee can be avoided by entering into a month-to-month agreement for the company’s services. Additionally, merchant reviews have claimed being charged an undisclosed $299 annual maintenance fee, account holds, and difficulty closing their accounts.

Vision Bankcard likely has some freedom to alter the conditions of this contract as it deems necessary. There are no complaints filed against Vision Bankcard that cite early termination fees, PCI compliance fees, monthly minimums, or other undisclosed fees.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, Vision Bankcard also dedicates a portion of its website to advertising its virtual terminal and payment gateway, offered by its subsidiary Dynamic Payment Solutions. Dynamic Payment Solutions offers through Authorize.Net. A standard Authorize.Net agreement includes a rate of 2.90% plus $0.30, a monthly gateway fee of $25, and a batch fee of $0.10.  However, Dynamic Payment Solutions reserves the right to alter these terms and conditions as a reseller. As such, merchants are able to negotiate lower fees than those offered directly by Authorize.Net

Fund-Hold Complaints

There are, however, a large number of public complaints that mention fund-holds by Vision Bankcard, specifically in relation to transactions conducted through Paymall. A cursory examination of Paymall’s business directory at the time it was active revealed that Paymall appeared to host a large number of typically high-risk business types, which may have contributed to the likelihood of withheld funds. Even so, the consistency and severity of these complaints suggest that Vision Bankcard could do a much better job of communicating its fund-hold policies to merchants.

Share Your Contract Information

Based on the company’s low complaint total in general, we will assume that the majority of the company’s non-Paymall merchants are satisfied with their pricing and terms. However, merchants are encouraged to ensure that their business will not be subject to large fund-holds before enrolling in the Paymall marketplace. Merchants should also compare the company’s pricing to low-cost merchant accounts. If you have any specific knowledge of the standard Vision Bankcard merchant agreement, please share that information in the comment section below this review.

We also encourage merchants to check out our list of the providers of the best merchant accounts.

Vision Bankcard Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms No

Inside and Outside Sales Agents

Vision Bankcard appears to primarily market its services through affiliate partnerships, an inside sales support team, and outside sales agents. It is unclear at this time whether the company’s outside sales agents are employed as independent contractors or on a W-2 basis, but the company does not have the high complaint volume that typically accompanies the use of independent agents.

This compares favorably to our list of best credit card processors.

No Deceptive Advertising

There are no Vision Bankcard complaints that mention unethical behavior by the company’s sales staff, and the company does not list misleading rate quotes in its official materials. As a result, we have awarded Vision Bankcard an “A” in this category for the time being. If you suspect that Vision Bankcard is charging you undisclosed fees, however, we recommend seeking a third-party statement audit to find and eliminate hidden costs.

Our Vision Bankcard Review Summary

Our Final Thoughts

A Decent Credit Card Processor

Vision Bankcard rates as a reliable merchant services provider according to all available information. The only complaints that the company has received are related to its Paymall venture rather than its merchant services, and the fact that Paymall now appears to be inactive is a definite point in the company’s favor. Our grade for Vision Bankcard may be subject to change once more is known about its contract terms. Merchants are encouraged to carefully read all contract terms and to compare the company’s rates with the top overall processors.

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Which is Most Important for You?

If you had to pick one, which quality would you say will be the most important with your next credit card processor? Tap or click your selection to register your vote:

  1. Low Transaction Fees
  2. No Monthly Fees
  3. No Contract
  4. Reliable Customer Support
  5. Quick Signup

Testimonials & Complaints

How Did Vision Bankcard Treat You?

7 User Reviews

  • Anil Yadav

    We are in transaction of emails with a partner company of Paymall who helping people in getting merchant account. Our $10000 still pending with paymall. We also got an email from the CEO Jeff that they are preparing some other accounts to release of the payments but that is another lie from their side. Its June 2016 now almost two years will complete in august 2016. Paymall stopped operation on 31st August 2014 and till now they didn’t release any funds to anyone.

  • Ollie

    Paymall are a complete fraud. I signed up with this company and began processesing card payments. I received one settlement before then stopped wiring money. They are currently holding £5000+ of my funds that were due to be settled in December 2014. I am still waiting for these funds and they refuse to return emails or answer calls. Stay away from the company as they will destroy your cash flow!

  • Vivek

    Paymall is a fraud firm. They owe 3000$ of ours and since October 7th 2014 they have been giving nonsense excuses but haven’t returned a single cent. The last update they sent was on 24th December 2014, promising to pay our funds on the 29th December 2014, but after that till date they haven’t replied to our single email. Do not register with them, as they might seem professionals but aren’t.

    • alina

      i think we should do something about it i called every vison bank carter and finally i found the one who is working with paymall and they just redirected me to their phone who have always the same message and no answer.I asked what can i do about our funds and i get no support.That is outrageous how come nobody can confirm our money status?there are so many like us so we should do something about this

  • alina

    PAYMALL IS A SCAM
    we send all the documentation that they required we even payed their monthly fee because they take it out automatically and after 3 months we receive an email that dont know what bank do not send us the funds.we made an agreement with paymall no other bank so is over 7 months and didnt receive their payements.So be aware they are not serious at all unfortunately

    • alina

      do not mention that i called paymall last few days for over 30 times and always the same machine answering.So they cant be reached unless you make a new website and try to register with them i am sure they will hurry up to take your money for the fee.If you talk to a lawer we will join you because there are several companies that have the same problem like us. so again stay away from PAYMALL

  • Priti

    They are simply liars.Vision Bankcard (Paymall.com) has a total of $5500 of our money and they are not wiring our money to us and giving silly reasons from more than a month now (As they promised of wiring our funds on october 7th 2014 which is due since june & july) :( Really upset as they are simply very unprofessional and rude.This company is the poorest company i have ever dealt with…Never thought they are going to be such big fraud.I am going to talk to my lawyers and sue them in the court now

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