Executech Lease Group Reviews & Complaints

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Overview

In this comprehensive article, we delve into the multifaceted world of ExecuTech Lease Group, a prominent player in the credit card equipment leasing industry. We'll explore the company's rates and fees, dissecting the financial nuances that businesses must consider before partnering with them. We will scrutinize the contract terms, providing insights into the implications and commitments involved in these agreements.

A critical aspect of our analysis will cover common complaints and industry ratings, offering a balanced view of the company's performance and reputation in the market. This includes a deep dive into user reviews and employee feedback, shedding light on the experiences of those who have interacted closely with ExecuTech Lease Group's services and corporate culture.

Security is paramount in the financial transaction sector, and we evaluate ExecuTech Lease Group's adherence to security standards, particularly their compliance with the Payment Card Industry Data Security Standards (PCI DSS) and the use of advanced encryption technologies.

In addition to these core topics, we also touch upon the company's leadership and location, providing context on its corporate background and operational headquarters. Our report will include insights into recent legal matters, such as the Visa & MasterCard lawsuit, and how it pertains to ExecuTech Lease Group and its clientele.

About Executech Lease Group

Founded in 2010, ExecuTech Lease Group is a credit card equipment leasing company that provides credit card terminals, check processing equipment, point-of-sale equipment, and ATMs. Like Northern Leasing Systems, Executech Lease Group does not process transactions or sell merchant accounts itself. Instead, sales agents will typically pair an Executech Lease Group equipment lease with a newly opened merchant account from a credit card processor.

ExecuTech Lease Group Products and Services

Mobile Payment Solutions

ExecuTech Lease Group provides mobile payment solutions, catering to the increasing demand for mobile payments. This service allows businesses to accept payments via mobile devices, making it a practical option for those with flexible or mobile operations.

E-commerce Payment Gateway

For online businesses, ExecuTech Lease Group offers an e-commerce payment gateway. This secure and reliable gateway integrates with existing online platforms, supporting multiple forms of payment and facilitating a seamless online shopping experience.

Security Standards

ExecuTech Lease Group prioritizes transaction security, employing advanced encryption technologies to protect financial data. Their services comply with Payment Card Industry Data Security Standards (PCI DSS), ensuring secure and compliant payment processing.

ExecuTech Lease Group point of sale
ExecuTech Lease Group offers leasing for payment processing equipment including POS systems

Executech Lease Group Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint Contract terms
Recent Lawsuits No

Low Complaint Volume

Less than 10 negative reviews have been found for ExecuTech Lease Group, indicating that the company is not involved in scam operations. While a low complaint rate is noteworthy, it does not automatically imply a positive reputation. ExecuTech’s outlier status in the equipment lease industry may stem from factors such as a smaller client base, recent market entry, or targeted marketing strategy compared to its peers like Northern Leasing Systems, First Data Global Leasing, and Ladco Leasing, all known for poor merchant reputations.

Based on its low complaint total, ExecuTech is assigned an “A” rating. However, prospective clients are advised to read user reviews and conduct thorough research before engaging with any company. ExecuTech provides phone support contact information on its website for user feedback and reviews.

ExecuTech Lease Group Lawsuits

As of 2024-03-22, there are no recorded class-action lawsuits or FTC complaints filed against ExecuTech Lease Group. Dissatisfied clients can consider reporting any issues to the relevant supervisory organizations.

ExecuTech Customer Support Options

ExecuTech Lease Group offers standard customer service options from 8 am to 5 pm PST, Monday to Friday. Though not offering 24/7/365 support like some providers, ExecuTech provides various contact methods, including:

Business owners are encouraged to consider their customer service preferences and needs when selecting a provider, weighing factors like availability, responsiveness, and service quality.

Executech Lease Group Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Rating N/A
Revdex Rating N/A
Average Rating N/A

Executech Lease Group Rating Analysis

Executech Lease Group listed on the Better Business Bureau (BBB), currently does not have any customer reviews or complaints. The BBB profile indicates that this business is not BBB accredited.

Negative Feedback

There are no customer reviews, including negative reviews, available for Executech Lease Group on the BBB website.

Positive Feedback

There are no customer reviews, including positive reviews, available for Executech Lease Group, LLC on the BBB website.

Source: BBB

Revdex Rating Analysis for Executech Lease Group

The reviews for Executech Lease Group on Revdex reveal significant dissatisfaction among customers. There are only two reviews available, both of which are negative. The common theme in these reviews is the allegation of being misled by the company regarding contract terms and charges. Customers have expressed frustration over being unable to communicate with the company, citing issues such as unresponsive phone lines and unfulfilled promises regarding charge card processing equipment fees.

Negative Feedback

We were lied to every step of the way by this company. Now we can’t talk to a person. The phone line just continues to play music for up to an hour. We want to get out of this contract. We were told there was no charge for Charge Card Processing equipment. Now they are charging us $50 per month for 48 months. That is $2,400 for $200 worth of equipment. We have tried the phone number several days in a row during their posted hours. – Complaint from Revdex

We were lied to every step of the way by this company. Now we can’t talk to a person. The phone line just continues to play music for up to an hour. We want to get out of this contract. We were told there was no charge for Charge Card Processing equipment. Now they are charging us $50 per month for 48 months. That is $2,400 for $200 worth of equipment. We have tried the phone number several days in a row during their posted hours. – Complaint from Revdex

Positive Feedback

There are no positive reviews published about Executech Lease Group LLC on the Revdex website.

Source: Revdex

Executech Lease Group Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates Variable
Equipment Leasing Yes

Lease Contract Terms

The standard ExecuTech Lease Group contract typically spans multiple years, ranging from 36 to 60 months, and is non-cancellable. Upon signing, a $35 documentation/processing fee is charged, along with a monthly Loss & Damage Waiver fee of $4.95 and an annual administrative tax fee of $25. At the lease’s conclusion, businesses have the option to purchase the equipment for an additional one-time cost based on fair market value.

Lease To Own Program

ExecuTech Lease Group offers a program allowing clients to purchase equipment at fair market value upon lease completion. Fair market value is calculated based on a percentage of aggregate lease payments, varying depending on the lease term. Although payment processing terminals can generally be acquired for under $500, ExecuTech Lease Group also offers leases for POS systems, ATMs, and check imaging hardware.

Non-Cancellable Conditions

Attempting to cancel the agreement before its full term results in the client owing remaining monthly payments for the lease’s duration. These payments may be withdrawn as a lump sum or on a monthly basis until the lease is fulfilled. The contract explicitly states that no cancellation is permitted during the lease term, and attempts to modify or rescind the lease orally are non-binding. Clients acknowledge reading and agreeing to all terms upon signing.

Purchase Instead of Leasing Equipment

In most cases, businesses are advised against equipment leases. Credit card terminals are often available for less than $500, making long-term leases comparatively costly. While leasing offers some benefits, its expenses and legal obligations outweigh these advantages. We recommend exploring our list of the best merchant services providers.

Executech Lease Group Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Uses Independent Resellers Yes
Telemarketing Likely
Misleading Marketing No
Discloses All Important Terms Yes

Third-Party Resellers

ExecuTech does not appear to market directly to businesses. Instead, the company primarily advertises to ISOs and independent sales agents who might be interested in reselling ExecuTech lease agreements. This sales structure typically results in a large number of client complaints, but there are very few negative ExecuTech Lease Group reviews at this time. One ExecuTech Lease Group review mentions nondisclosure of lease terms by an independent ExecuTech sales agent, is typical of providers like Northern Leasing Systems, First Data Global Leasing, and Ladco Leasing. However, there are not many ExecuTech Lease Group complaints of this nature. This compares favorably to our list of best credit card processors.

Bundled with Alpine Contracts

ExecuTech shares ownership and an address with Alpine Payment Systems, a poorly rated provider on CPO. Alpine Payment Systems is the subject of numerous complaints related to misrepresentation of fees, aggressive sales tactics, and selective disclosure of contract terms. This complaint thread indicates that some Alpine sales representatives are also selling ExecuTech lease agreements, which increases the likelihood that businesses could sign up for an ExecuTech lease without knowing the full terms. This is cause for concern due to ExecuTech’s standard lease agreement, which is a non-cancellable, multi-year term that can cost thousands over the life of the lease.

Some Cause for Concern

ExecuTech’s low complaint total has raised its grade to a “B” in this category, but the structure of its lease agreement and its connections to Alpine Payment Systems are preventing it from entering “A” territory for now. If you believe you may be overpaying on your monthly bill, we advise you to seek a fee reduction audit from an independent third party.

Our Executech Lease Group Review Summary

Our Final Thoughts

It is challenging to endorse ExecuTech Lease Group as a credit card equipment leasing provider, primarily due to concerns about their sales tactics and lease agreement terms. The company mainly markets its services through independent resellers, a strategy that can lead to inconsistent customer experiences and raise doubts about the transparency of contractual terms. This method of operation could obscure crucial details about lease obligations and lead potential clients to enter into agreements without a full understanding of the terms.

While ExecuTech Lease Group maintains a relatively low complaint volume and lacks recent lawsuits, the association with Alpine Payment Systems, known for numerous customer grievances, complicates its reputation. This connection suggests that ExecuTech might be involved in similar practices or share operational strategies that could be problematic. Given these factors, business owners should proceed with caution when considering ExecuTech’s services.

Location & Ownership

The CEO of ExecuTech Lease Group, Robert Ensminger, is also the president and CEO of Alpine Payment Systems and a seemingly inactive merchant services provider called Valtek Solutions. Executech is headquartered at 1111 Main St #655, Vancouver, WA 98660, inside the same building as Alpine Payment Systems and Valtek Solutions.

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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 Executech Lease Group Treat You?

3 User Reviews

  • Sara Lee

    Big Guys Restoration and Flooring

    We are caught in a terrible situation with Executech. We got railroaded by Retail Cloud into leasing six POS terminals for our carpet cleaning vans. By the time we realized that it was a trick, it was too late. Now we are stuck paying $450 a month for 4 years. By the end of the lease we will have paid $21,600 for the POS devices and we still will not own them. We should have never agreed to this. It is such a rip off. They should not be allowed to charge these exorbitant rates and the merchant has no way to get out of it.

  • John Fitzgerald

    Sold their contracts to Northern Leasing which is under investigation and has many lawsuits for scamming family owned businesses on high priced contracts and make it impossible to cancel them. They are either a subsidiary or also involved with them.

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