LADCO Global Leasing Solutions Review: Fees, Complaints & Lawsuits

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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 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.

LADCO 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.

LADCO Global Leasing Solutions Review Table of Contents

  • Costs & Contract: LADCO Leasing typically offers a 48 to 60-month lease that cannot be canceled without paying out the remaining months of the lease.
  • Complaints & Service: LADCO Leasing complaints number more than 200 on public complaints forums.
  • BBB Rating: LADCO Leasing does not have a rating with the Better Business Bureau at this time.
  • Sales & Marketing: LADCO Leasing allows independent sales reps to resell its equipment leases and has received a high number of complaints about its sales practices.
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Ladco Leasing Reviews and Complaints

Here's What Their Clients Say

Complaint Summary

Total Online Complaints
Live Customer Support
Most Common Complaint
Hidden Fees

Sky-High Complaint Total

LADCO Leasing complaints 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 Service Options

Most merchants 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. Merchants can expect better service levels from a top-rated payment processor for customer support. We also encourage merchants to check out our list of the providers of the best merchant accounts.

Ladco Leasing BBB Rating and Report

Our Better Business Bureau Profile Assessment

BBB Summary

Total Complaints
Resolved Complaints

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.

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Ladco Leasing Fees and Rates

A Closer Look at the Contract

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Cost Summary

Swiped Rate
Keyed-in Rate
Early Termination Fee
Liquidated Damages
PCI Compliance Fee
Equipment Lease Terms
Up To 60 Months (locked)

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 merchants will be on the hook for the entire cost of the contract from the second they sign, no matter what. The overwhelming consensus among merchants 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 merchant 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 merchant 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 merchant 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. Merchants 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 Jobs and Employment

Hiring Standards and Ethical Marketing Assessment

Audit Your Current Statement To Find Its Hidden Fees

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Key Points

Employs Independent Resellers
Advertises Deceptive Rates
Discloses All Important Terms

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 merchants 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.

Ladco Leasing Review Summary

Our Final Thoughts and Opinions

Poorly Rated in Every Category

LADCO rates very poorly as an equipment lease provider 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 merchants 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. Merchants are advised to read any contract with LADCO Leasing or one of its partner companies very carefully, and Elavon merchants are strongly encouraged to check their agreements for any mention of LADCO.

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Customer & Employee Reviews

What Others Are Saying About Ladco Leasing

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43 Responses

  • 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.

  • John

    Stay away stay away stay away! Cannot stress it enough, lots of hidden fees, things you have never seen before, waste of money, scammers

    This post will help: Best EMV Terminals


  • 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!

  • Rob

    Better hope you don’t have to leave your contract early, after over 3 years with 9 months left had to pay over $200.00

  • Sassano

    Absolutely the worst company to deal with, be careful!!!

  • 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!

  • Mark Bongiorni

    I just got hit with a $25.00 administration fee from these jackals. All I can say is, I was foolish enough to trust my bank when they recommended Elavon and through Elavon, Ladco. Read the reviews. It is all true. Maybe worse.

  • 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!!!

    • Cristina Fetila

      That is very true! I am going through this now. I wish we can do something about it!

  • Michael

    Same kinda review here with the exception that I fell for the trap. Had a choice to buy veriphone vx520 for $2800 or lease it monthly. Didn’t have the 28k to blow so I opted to lease for 24 months. Apparently the salesman wrote in 48 months and I neglected to catch it. Any way my lease is for $84 per month. That’s $4032.00!!! I did some checking after the fact and found a brand new vx520 for $120. I bought it and was told by Elavon that I am liable for the total lease and wouldn’t let me out of it.
    I presume you all know that Elavon is owned by US Bank. They don’t advertise this because of the shifty service from Elavon.
    I have an old saying that I go by now.
    Fuck me once, shame on you
    Fuck me twice, shame on me

  • Kathy Smithson

    We sold our business and Ladco continued to charge us for equipment returned, which was NEVER reviewed with us when the contract was presented.

  • Fei

    It is very bad company. Double charge me for the lease. Never do business with this company again ever

  • 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

  • Brenda

    Is the worst decision that I could get done for my business, after your are in the contract, theres no more “customer service” … No body helps and no body treat you as a customer

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

  • 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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About The Author

Phillip Parker is the creator and author behind this website. He has over 15 years of experience in the credit card processing industry as a journalist, consultant, and former merchant account sales professional. He started this project as a blog to expose merchant services providers that engage in predatory business practices, such as deceptive marketing, misleading pricing, and high-pressure sales tactics. His goal is to help business owners find merchant account providers who serve their industry well while offering fair rates with no junk fees and no long-term commitments.

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