LADCO Global Leasing Solutions Reviews & Complaints

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In this comprehensive article, we explore the operations of the contentious LADCO Global Leasing Solutions, a prominent credit card processing equipment lease provider and a key player in the industry for over a quarter of a century. Despite its apparent ties with Elavon and ownership by U.S. Bancorp, LADCO has considerably reduced its online presence, raising questions about its operational transparency. Our investigation aims to shed light on various aspects of LADCO's business practices, from the nature of its point-of-sale offerings, which seem to mirror those of Elavon, to the ambiguity surrounding its location and ownership.

We explore the complexities of LADCO's contracts, highlighting the typical lease durations and the often controversial terms entailed. This article also scrutinizes the volume and nature of complaints against LADCO, revealing a pattern of grievances related to hidden fees, challenging cancellation policies, and customer service issues. These findings are corroborated by an analysis of online customer reviews and ratings, which predominantly reflect dissatisfaction.

Additionally, we delve into the legal landscape surrounding LADCO, examining past lawsuits and fines, notably a significant settlement with the Ventura County District Attorney’s Office. This section aims to provide a deeper understanding of the legal challenges and allegations faced by the company.

Our discussion extends to LADCO's customer support, or lack thereof, as reported by many businesses, and contrasts it with service levels expected from top-rated payment processors. Moreover, we compare LADCO's processing costs with industry standards, offering insights into the financial implications for businesses using their services.

An examination of LADCO's sales tactics and employee reviews offers a glimpse into the company's internal workings and market strategies, highlighting issues like the use of independent resellers and potential nondisclosure complaints.

To conclude, we provide a holistic review summary, weighing the pros and cons of engaging with LADCO Leasing. This article serves as a critical resource for business owners and industry observers, offering a detailed analysis of LADCO's operational strategies, customer experiences, and the broader implications within the credit card processing equipment leasing sector.

About LADCO Global Leasing Solutions

An Elavon-Owned Equipment Lease Provider

LADCO Global Leasing Solutions is a credit card processing equipment lease provider for merchant accounts that has been in business for over 25 years. The company appears to be either a subsidiary or a DBA of Elavon and is the primary source of equipment leases sold by Elavon, making it a very large lease provider.

LADCO has massively reduced its footprint online, making it difficult to understand the full picture of the company. These things alone could be seen as highly suspicious behaviors by LADCO, but we also continue to find the occasional new negative review of the company as well. This tells us that the company is very likely still operating and doing so in a similar manner to that described below.

LADCO Point of Sale

Though it no longer has its own functioning website, we can imply that LADCO's point-of-sale offerings are the same as what Elavon offers. The Elavon point-of-sale family includes the Poynt family of smart terminals, talech terminals and tablet solutions, and card swipers from Ingenico and Verifone. Talech terminals, specifically, are geared toward the restaurant industry. Elavon pairs these with multiple possible payment gateways, including the Converge and Fusebox payment gateways.

Location & Ownership

When active, LADCO's website stated that its headquarters was located in Knoxville, Tennessee, but many other sources suggest that the company is located at 555 St. Charles Dr., Thousand Oaks, California 91360. A debt collection service called American Recovery Service Incorporated (ARSI) is also located in the same facility and, according to Better Business Bureau complaints, occasionally collects on outstanding merchant account payments. It is unclear at this time whether LADCO and ARSI are somehow affiliated. Like Elavon, LADCO Global Leasing Solutions is owned by U.S. Bancorp. Andy Cecere is the CEO U.S. Bancorp. At the time of this writing, almost all official information about LADCO has been removed from the internet.

Table of Contents

Ladco Leasing Customer Reviews

Here's What Their Clients Say

Customer Reviews Summary
Total Online Complaints 200+
Live Customer Support Yes
Most Common Complaint Hidden Fees
Recent Lawsuits Yes

Sky-High Complaint Total

Negative LADCO Leasing reviews currently number over 200 across various consumer protection websites, most of which explicitly refer to the company as a scam or ripoff. Common themes echoed by LADCO Leasing reviews include nondisclosure of contract length, harsh cancellation policies, excessive monthly fees (ranging from $50 to $90), poor or unreachable customer service, and aggressive collections practices. LADCO does not appear to have issued rebuttals to the majority of these complaints. If you have your own LADCO review to make, please do so in the comment section below.

LADCO Lawsuits and Fines

In 2012, LADCO settled a lawsuit with the Ventura County District Attorney’s Office. The District Attorney’s Consumer and Environmental Protection Unit took action against the company alleging that their Thousand Oaks office had misrepresented the terms and lengths of lease agreements. The suit went on to assert that the company went as far as forging signatures to execute leases. LADCO paid $418,000 as part of the settlement agreement.

LADCO Customer Support Options

Most businesses report that they are unable to resolve their LADCO complaints through Elavon, as the two entities insist on having separate customer service lines. Overall, it is difficult (if not completely impossible) to find a positive review about LADCO Leasing. Business owners can expect better service levels from a top-rated payment processor for customer support. We also encourage readers to check out our list of the providers of the best merchant accounts.

Ladco Leasing Online Ratings

Here's How They Rate Online

Online Ratings Summary
BBB Rating N/A
PissedConsumer Rating 1.4
ComplaintsBoard Rating N/A
Average Rating 1.4

Not Currently Rated by the BBB

LADCO Leasing currently does not have a profile with the Better Business Bureau. It appears that most complaints about LADCO are instead filed to Elavon’s BBB profile. We will therefore not factor the BBB into this review.

PissedConsumer Rating Analysis of Ladco Leasing

Ladco Leasing has an average customer review rating of 1.4 stars on PissedConsumer based on 39 customer reviews. The common themes in the reviews indicate that consumers are mostly dissatisfied with the company. Key issues include poor customer service, issues with contract cancellation, and problems with billing and charges.

Negative Feedback

Just awful, don’t do it. Horrible customer service, still charging me months after we cancelled the contract. – Review from October 4, 2022

So I called in because I was informed that I was late on a payment. The gentleman I spoke to Scoffed at me when I asked him some information about my account. Been taken back and completely perplexed I ask did you just scoff at me? He ignored me And pressed on. When the phone call was coming to an end he abruptly hung up on me. I was so upset I called back and spoke to another person asking to speak to a supervisor She started getting Very Defensive demanding that I tell her why I want a supervisor.Then she just got real Nasty and told me that since I haven’t made a payment which I found to be not true that I would not be able to speak to a supervisor. Then she proceeded to lie to me telling me that I didn’t make a payment when I knew I did and that because I missed that payment I would have to pay 10% of the entire amount to be reinstated. Just a whole bunch of crap. I have yet to be able to talk to anyone expressing my frustration. I am already paying 4 times the normal amount for tires that they should cost At least I would like to be treated like a human being this review is for uownleasing not what it’s titled. I have no idea where that came from – Review from April 14, 2021

Positive Feedback

There are no positive reviews published about Ladco Leasing on the PissedConsumer website.
Source: PissedConsumer

ComplaintsBoard Review Analysis for Ladco Leasing

On the ComplaintsBoard website, Ladco Leasing has received multiple customer reviews, predominantly negative. Common themes in these reviews include allegations of deceptive practices, high costs, and difficulties in terminating leases. Many customers express frustration over what they perceive as unfair contracts and poor customer service.

Negative Feedback

Credit card processing scam: Like so many stories before, we were unscrupulously duped by Ladco Leasing. I certainly wished I would have Googled them before falling for this horrendous scam. Unfortunately, the account representative that was trying to get me to change processors never mentioned anything about Ladco. Our business was cold called by Entrust Bankcard Services. – Review by Jerry Hansen of Dallas, US, Sep 16, 2011

They might as well use a gun: Ladco Leasing is a complete rip-off. Do not lease credit card equipment from these [people]. They might as well have put a gun to my head and robbed me. I was a new business owner and didn’t know any better. I signed a 4-year lease for 2 credit card terminals for a $176 a month fee. I just purchased the same equipment for $149 per terminal. I paid them over $8000 to use their terminal. – Review by Frampton of Glendale, US, May 25, 2011

Positive Feedback

There are no positive reviews published about Ladco Leasing on the ComplaintsBoard website.

Source: ComplaintsBoard

Ladco Leasing Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates N/A
Equipment Leasing Yes

Costly Non-Cancellable Leases

The standard LADCO lease appears to be a non-cancellable 48-month agreement, although leases can range from 12 months to 60 months in length. Because they are non-cancellable, these leases ensure that clients will be on the hook for the entire cost of the contract from the second they sign, no matter what. The overwhelming consensus among clients is that these equipment leases are very expensive compared to the actual cost of equipment, ultimately costing thousands for technology that can be had for a few hundred dollars. This does not compare favorably to our list of best credit card processors.

If a business wishes to cancel their LADCO lease, they must either pay out the remainder of the LADCO contract and return the equipment or pay out the remainder of the contract and purchase the equipment. Either way, a client will owe the lease’s remaining cost upon cancellation. It should be noted that most credit card terminals can be purchased for under $500. Non-cancellable, long-term leases mean a business can pay thousands for that same equipment making them a contract term to avoid.

Highly Unfavorable Contract Terms

We believe that these equipment leases are unreasonably expensive, unfairly structured, and (in general) deceptively sold. Business owners are not advised to lease equipment under the terms offered by LADCO, as they will usually be better off purchasing equipment outright through a top-rated credit card processor. LADCO Global Leasing fees and policies are similar to those of Northern Leasing, another company that has received low scores in this category.

Ladco Leasing 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 No

Bundled with Elavon Merchant Accounts

LADCO appears to primarily market its products by packaging them with Elavon merchant account contracts. Because of this strategy, many LADCO Global leasing reviews are from businesses saying that they didn’t even realize they were signing a lease with LADCO when they first signed their credit card processing agreements. This also means that the details of LADCO’s leases are often not fully communicated by sales agents, since they are considered to be part of the overall merchant services package.

Widespread Nondisclosure Complaints

Multiple LADCO Leasing complaints mention nondisclosure of lease length and cost, and the company’s official materials go to great lengths not to mention the company’s close ties to Elavon. Given the LADCO Global Leasing complaint record and their less-than-straightforward signup procedures, we are assigning Ladco a “D” for its marketing practices. If you are worried about misrepresentation in your contract terms, we recommend seeking a third-party statement audit to take a second look at your agreement.

Our Ladco Leasing Review Summary

Our Final Thoughts

LADCO rates very poorly as an equipment lease provider for credit card processing due to its long-term, non-cancellable leases, deceptive sales practices, expensive equipment, and high complaint volume. The company can improve its rating by ensuring that businesses understand its lease terms before signup, lowering the overall cost of its leases, providing responsive and helpful customer service, and reducing its number of complaints. Business owners are advised to read any contract with LADCO Leasing or one of its partner companies very carefully, and Elavon clients are strongly encouraged to check their agreements for any mention of LADCO.

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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 Ladco Leasing Treat You?

43 User Reviews

  • Mo

    Mela Health

    I’m surprised this horrible company is still around. When I was a college student I made a website to sell vitamins back in 2000. I signed up for a web based payment processor which was Ladco leasing. No physical devices. They don’t verify the customer’s CC info, one person just entered fake info and I idiotically shipped the product. Then the charge was denied after I shipped. I made a sale and found out that the fees were too high and lost money. After one year I didn’t make anything and gave up and tried to cancel my account in which they refused! They said I had a 48 month contract and couldn’t cancel it. How was I to know? I also didn’t get any machine, it was all web based. How hard is it to cancel and delete my account?! They threatened me with collections and bad credit etc, so I faithfully paid for 4 years! Never again! Always read the fine print!

  • Diane Montpetit

    Garage GPM

    I bought an Interac machine from Elavon in September 2020. The following year, I decided to change company. I called Elavon to cancel the contract. I received a letter three (3) months later advising me that I had to pay an allowance to Ladco Leasing for the outdated machine with a wire that which was too short. I told them I would return it, but was informed that I had to reimburse them the amount of $2,827.24, even if I returned the machine.

  • Paul

    computer repair services

    One of the worst company
    no ethics
    no service

    honestly as market we should ban company like ladco leasing

    79.99 terminal they made me pay almost 1600

    40 per month for 4 years

  • Eagle 562 LLC

    Eagle 562 LLC

    We used Elavon Inc & Ladco Leasing since 2016. After years of poor service, we changed to another company. I called to cancel service and was told to send back equipment at my expense and would continue to be billed until it was returned. Never once was I told it had to be there in a certain amount of days (again, poor service). Once I received the proof of deliver. I thought we were done with this company. But the beginning of the next month was billed again. When I called to find out why, at that time was told about the amount of days I had to return the equipment. Please think twice about using them

  • Erin

    Had the displeasure of speaking to Gary from Ladco leasing. He wouldn’t help me at all to figure out what I needed to end my month to month lease. They’ve been stealing money from me for months and claim they sent a letter but never did. My business closed two years ago and there was no way out of the lease. He is a trash human who doesn’t care about others which is a perfect representation of this company. Predatory scammers who think it’s ethical to charge a small business thousands of dollars for a $100 piece of equipment. Trash trash trash. Gary probably murders puppies and would push a kid in a wheelchair down steps.

  • Paul

    Why elavon works with cheap and unethical companies like Ladco Global Leasing Solutions and NPS Canada. I can not believe how these companies scamming Small Business like us. I talked to elavon /nps canada and Ladco Global Leasing Solutions they have no shame. ELVAON help me to understand how $100 Basic Terminal NPS canada can lease for small business for $3000.00 and how Ladco Global Leasing Solutions unethical company willing to do it you know why because they both help each other to scam small Businesss. “SHAME ON THESE COMPANIES INSTEAD OF SPORTING SMALL BUSINESS THESE COMPANIES ARE LIKE PARASITES”

    Worse company STAY AWAY

  • Nicole

    Find out who you’re Really leasing from before you sign!! I signed a 2 year lease for a Poynt machine with Mondo here in Canada. Once I went out of business & wanted to cancel I discovered that I was signed up with Elavon & Ladco! My 2 yr lease became 4 yrs with an ETF of $1500. So I’m now stuck with a machine I don’t use & monthly payments still being withdrawn! Stay as far away from Elavon as possible- they’re a bunch of crooks!!

  • Luc Charles

    Most definitely the worst company representative ever. Gary out of Knoxville is an arrogant a*******. He is rude and unknowledgeable in company policies. If elevan keeps him as an employee, it only certifies that they do not care about customers whatsoever. The company is out to get your money without extending the least support. Stay as far away to Elevan and Ladco as possible.

  • Keith Hogan

    This compant put me on a 2 year lease, now they say its 4 year lease and Icant get out of contract. I have 3 credit cards machings which half the time dont work and only need 1 or 2 of them because my small business is slow now . They wont let me return 1 of them , even after 2 years , but will let me get more machines. Dont go with this company , they lyers about the contracts and will ruin your credit if you leave lease.They charge for machines and prossing and different amounts for the cards being used . I have to pay hundreds every month to use them . Even if i just run 10 cards a month.

    From The Editor
    This Post Might Help: Cancelling a Lease Agreement Without Paying a Fee

  • Marisol Hidalgo

    Oh Lord, I can’t believe I didn’t check the reviews before signing this lease. I enrolled for merchant services through my Costco membership. Nothing was true about this deal. I ended up canceling the service and now I’m stuck with this stupid monthly lease with LADCO that I cannot get rid off. I have to pay 3 more years for an equipment I no longer use or pay $2000 to get out of the contract. The only thing left to do now is closing the checking account where they take the payments out… I CAN’T BELIEVE I FELL FOR THIS. COSTCO and ELAVON should take responsibility for having people ripped off by these scammers!!!!

    From The Editor
    This Post Might Help: Cancelling a Merchant Account Without Paying a Fee

  • Chris

    USB (who btw way owns both Elevon and Ladco Leasing, shocker I know…) sold my wife merchant services and a 4 year lease on a CC processing machine from Ladco.

    She will end up paying over $4k for a $200 machine over it’s life. We are constantly battling arbitrary and incorrect fees on the account. In our opinion all three of these companies are nothing more than commission driven scam artists.

    Do not walk, run. Run like the wind.

    Do not make our mistakes, do your research!

    There is MUCH more that could be told here, but that is all I have time for.

  • Christopher

    US Bank associate themselves with this rip off company. If I were you, I’d leave this company and US Bank as quickly as possible. US Bank pimps our it’s new business customers to Ladco Leasing. I never took possession of the equipment Ladco tried to force on me through their relationship with US Bank. The equipment was returned to US Bank unopened and my business filed for bankruptcy.

    Beware of US Bank and Ladco leasing

  • Chris

    This company is a scam! Beware, they use bullying tactics and threats even after you notify them that you’ve declared bankruptcy. I gave them the US Case number and they continue to call harassing me.

    I’ve filed countless complaints the US Attorneys Office, BBB, US Bankrupty Court and Trustee!

  • Michiele

    This the worst merchant account
    Never answer the phone.
    The card processor stopped working at least a year ago. I am disappointed, how I allowed them to withdraw from my checking account month $42.00
    Don’t do it, do not get involved eith Ladco no matter what they try and con you in.

  • Shelley

    Terrible customer service on more than one occurrence.
    Was even surprised to find out when I asked to speak to a supervisor the person said they were the floor supervisor. I would not recommend this company or overpriced/charged product. Go with Lawpay.

  • Brian Bendix

    Worst decision I have ever made in our 34 years of business was to get crooked into their lopsided agreement to lease their card machine! They hook you on low merchant processing fees then completely bend you over on the lease on the processing machine! Even after I changed merchant processing company’s the lopsided lease went on for a couple of years that I could not get out of….FYI this is the 1st review I have EVER posted!

  • Kathy

    Very bad customer service, downloads “burned out the machine, I canceled for failure for prompt and efficient service,,, yet I still have to pay the balance of the contract. Somebody will get you Ladco, and YOU will get Your JUST Dues..

  • Kristi

    Beyond HORRIBLE customer service. Right off the bat they increased my agreed upon rate by $10 I was told this was for insurance and if I wanted it waived I had to contact them to get it reversed. GOOD LUCK! They do NOT answer phone calls or emails. Unfortunately I was unlucky enough to get involved with this company 2nd hand thru Elavon (like so many others) so trying to get anything fixed is a nightmare. I would give negative starts if I could.

  • Cristina Fetila

    THEY ARE THIEVES! Please do yourself a favor and stay as far away as possible. They are lying to they costumers about the terms of the lease and they become verbally aggressive when you ask questions about it. They said that they don’t care about all these bad customer reviews because “”they are lies”. So, all of us are lying! If you care about your money, please don’t give it to this SCAM company!

  • benjamin Jones

    I truly believe we need to get a class action lawsuit going for these thieves. I never received a termination letter, have paid for equipment I haven’t used for the past two years and when I contacted them after four months of overpayment (waiting for the letter) they still scammed me for an additional $104 to pay off the contract. Long live Square!!!

  • tom

    I have to echo all the negative comments, the equipment is not top of the line and the service and cost are not up to what you can get elsewhere. As others have said, AVOID this company and the processing service. There is no way to get out of the excessive lease.

  • richard

    According to the CCC (canadian code of conduct) under the FCAC (financial consumer agency of canada) certain conditions will allow you to get out of leases. Feel free to contact me

  • John Piller

    Absolutely the Worst Company Ever. They have been Charging me $49.50 a Month for over a Year for a Card Reader that they Cant Fix. They NEVER Sent a Replacement or any information as to how to cancel this account until Today. And I have to Pay to return their Broken Equipment. Consumer Beware. Customer Service is a Joke. GO SOMEWHERE ELSE. You Have Been Warned. NO REFUNDS OFFERED. F- Rating.

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

  • Ray Priestley

    LADCO are, in my humble opinion simply the worst company in the world. We have been left without a terminal for almost 4 weeks and they simply do not care. They also expect me to maintain our contract even though they are not providing a service. They simply say talk to the people who make your terminal… avoid this company they are rubbish.

  • Darrell Ghysels

    My experience has been the same as commented above, when the terminal went down, they washed there hands of it and said call the manufacturer, I asked what was this money I was paying them every month for, they said financing??
    I was not aware I signed up for a 5 year lease when I signed up with Endtrust as my credit card merchant services. Is there anyway we can get a class action suit against this company, I was told the terminal was free, when the bill came, I called the sales person, they said, no you are saving so much money it is like having it for free??

  • Vic

    We are getting ripped off for $99.10 per month for a credit card machine that we can get for free. They also charge a yearly fee and County property tax. I blame this ripoff on the sales person that signed us up for this. I guess they are not thinking of a customers best interest. We were first time store front owners and feel totally scammed by Ladco. They are horrible to work with IF you can get them on the phone. They will not settle as someone mentioned earlier. Whatever you do do not sign anything with Ladco Leasing, Elavon, Zoe Inkas. Total ripoff. Our total loss is over $5,000. That is a lot to this small business owner.

  • dave derus

    being burned by LADCO Leasing like so many other people. As far as I’m concerned, Elevon should be held responsible for this because of the non-disclosure in Elevon documents. Is there any solution tho this?

  • Kathy Jepsen

    My company was sold and the location closed after one year. Ladco requires the continued payment for the lease for a full 4 years and will not even reduce the contract cancellation fee or settle for a lesser amount of cash payment up front to resolve the cancellation. I have continued to pay $60 a month for a year now and have 2 years left to continue paying. This equipment I am paying so much for is the credit card processing machine which is provided free with many other processing companies. I didn’t know that when I opened my business and trusted my bank representative who set us up with Elavon and Ladco Lease. So they will continue to make $60 a month for another 2 years and the equipment is sitting in my closet at home for another two years. Buyer beware of leasing anything……many other providers offer equipment free.

  • Tim and Darcy Salo

    Do not sign up with Ladco or Inkas or Elavon. They have terrible service, they will misreoresent there services and costs and want you to lease a credit card swiping terminal for 48 months. You can buy these units for under a coupkle of hundred dollars. Go through your bank! These people are scam artists!

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