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Wells Fargo Merchant Services Review

Wells Fargo Merchant Services Review


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Visit SiteProcessing $1,000 per month or less in card payments? Visit Square for the best deal Date Established1862LocationSan Francisco, CAOverview:Wells Fargo Merchant Services (WFMS) is a division of Wells Fargo, one of the largest and oldest banks in the United States. While the bank itself has been in business since 1852, its Merchant Services division started offering credit card processing services in 1971. The bank is headquartered in San Francisco, California, but has branches and regional offices throughout the country. As you’ve probably heard by now, Wells Fargo hasn’t been having such a great year. In September 2016, the bank reached a $190 million settlement with the Consumer Financial Protection Bureau (CFPB) over allegations that its employees had systematically set up as many as two million unauthorized accounts in order to reach their expected sales quotas. As of this writing, approximately 5,300 bank employees have been fired and the bank’s CEO, John Stumpf, has been forced to resign. While the majority of the fraud appears to have occurred in the bank’s consumer division, there are indications that the opening of bogus accounts also affected small businesses. About 10,000 small business accountshave been identified that might have been opened without the consumers’ knowledge. It’s not entirely clear at this time whether merchant accounts were affected, but it appears likely that they were. It’s also very apparent from the huge number of complaints from merchants regarding high-pressure sales tactics and failure to disclose important contract terms that the same cultural problems extended into the Merchant Services division. How this will play out, and what effect it will have on the quality of Wells Fargo Merchant Services’ products and services remains to be seen. Quite frankly, it wasn’t easy to recommend them as a merchant account provider before the current controversy, and it’s even harder now. Hopefully, the company will take some positive steps to improve the quality of their services – particularly in the area of sales and marketing – as a result of this incident. To find Wells Fargo Merchant Services on the web, you’ll have to go to the bank’s main website. Unfortunately, the section of the website devoted to merchant services is difficult to navigate and lacks important information. Products and services lack clear descriptions, and the site is riddled with so many footnotes that it feels like reading a David Foster Wallacenovel. Despite its large size, Wells Fargo isn’t a direct processor. Rather, it functions as an acquiring bankand uses First Dataas its payment processor. This relationship is not disclosed at all on the website, and you’ll want to read this articleto fully understand it. The bottom line for you as a merchant is that you’ll have to deal with both Wells Fargo and First Data and that many of the issues that plague First Data can crop up here as well. Several of Wells Fargo Merchant Services’ business practices have come under heavy criticism from merchants, including a $500 early termination fee, outrageously expensive terminal leases, and enhanced billback billing. On the plus side, if you also have a bank account with Wells Fargo, your transactions should be processed and deposited into your account within 24 hours. This is a significant improvement over the usual 48 hours or more that it takes for most other providers. “Should” is the operative word here, however, as there are numerous complaints from merchants that they frequently had to wait longer than one day to get the money deposited into their Wells Fargo accounts. Wells Fargo also relies mainly on in-house sales representatives rather than independent sales agents who work on a commission-only basis. While this normally results in a vastly improved sales experience for merchants, it’s clear from the bank’s current controversies that this hasn’t been the case. While Wells Fargo sales agents undoubtedly receive better training than independent agents usually do, there are a huge number of complaints alleging a failure on their part to disclose important contract terms (such as the length of the contract and the early termination fee). All of this adds up to a less-than-average score when compared to other processors in the industry. For now, Wells Fargo Merchant Services only rates 2.5 out of 5 stars. Hopefully, their efforts to address the bank’s current controversies will result in an improvement in contract terms and sales practices, making them more competitive for businesses of all sizes. Read on for a more detailed explanation of what WFMS currently offers. You should also check out our comparison chartto see the best merchant service providers around or find onethat best fits your needs! Table of Contents Products & Services:Fees & Rates:Contract Length & Early Termination Fee:Sales & Advertising Transparency:Customer Service & Technical Support:Negative Reviews & Complaints:Positive Reviews & Testimonials:Final Verdict on Wells Fargo Merchant Services:Products & Services:You’ll find just the basics at Wells Fargo Merchant Services, with nothing that really sets them apart from the pack. WFMS doesn’t aim to be a one-stop-shop for all things related to merchant services. If you’re looking for a bunch of value-added services, look elsewhere. Here’s a list of the products and services that they do offer: Merchant accounts: As noted above, WFMS uses First Data as their third-party processor.Terminal sales/leases: WFMS offers a variety of terminals, including EMV-capable devices, but doesn’t provide any specifics on their website. Leases are handled through a partnership with First Data Global Leasing. Terminal leases are not a good idea. We recommend that you buy your equipment outright and pay the re-programming fee to have it work with your merchant account.Mobile Processing: Leased terminals include models that support NFC-based mobile payments, such as Apple Pay, Android Pay, and others. WFMS also offers their Wells Fargo Mobile Merchant with EMV app, which is available for both iOSand Android. The app apparently uses the EMV-compliant Clover Gocard reader, but the company doesn’t provide any details about this on their website.Payment gateway: WFMS supports eCommerce by providing integration with a number of third-party payment gateways. Choices include the ever-popular Authorize.Net, CyberSource, and First Data’s Payeezy Gateway.Point-of-Sale: First Data’s Clover Stationis available, as well as several other Clover offerings.In addition to these primary products, WFMS also offers check processing, online reporting, and support for recurring payments. Fees & Rates:Unfortunately, Wells Fargo makes absolutely no disclosures of rates or feesin their corporate advertising or internet resources. No information on rate structures (such as interchange-plusor tieredmodels) appears anywhere. This isn’t exactly unusual – but it’s not ideal, either. While your discount rate will depend on a large number of factors, I really like to see some disclosure of monthly fees(PCI compliance fee, statement fee, etc.) alongside information about how rates are determined, including information on interchange-plus plans. WFMS does offer a few brief notes on pricing in their FAQ, but basically just to say, “It depends.” They also claim to offer “relationship pricing,” but only give a vague definition of what this means: A full-service relationship with Wells Fargo translates into relationship pricing that benefits your business. Our Wells Fargo Business Services® Packages are designed specifically for your business banking needs and can save you hundreds of dollars on frequently used financial products and banking services. Basically, they imply that if you use multiple Wells Fargo services, they can give you a discount (sort of like the cable/phone/internet companies do). They don’t make any specific claims, however. Contract Length & Early Termination Fee:With Wells Fargo Merchant Services, you’ll get the industry standard for contract length and early termination fees. All contracts include an initial three-year term, and then auto-renewfor one-year periods thereafter. Merchants processing less than $1,000,000 per year in transactions will be charged a $500 early termination fee. Merchants processing over $1,000,000 per year will be charged both the $5000 ETF and liquidated damagesequal to “six times the highest amount of Revenue in any single calendar month during the initial term or any renewal term.” (See Section 41.3 of the Wells Fargo Merchant Services Program Guide.) Please, do not accept this. The industry standard isn’t good enough. Many service providers don’t have any cancellation feesand offer true month-to-month contracts instead. As with many merchant account providers, Wells Fargo will “buy out” your existing contract with one of their competitors to get your business. This means they will pay all or a portion of an early termination fee from your current provider, up to $500. To qualify for this, you’ll have to be doing at least $100,000 annually in card processing (excluding pin-based debit) and meet a few other stipulations. Sales & Advertising Transparency:Wells Fargo Merchant Services offers very little advertising or sales copy on their website. No fees or rates are mentioned, and virtually no information on the costs of processing is included. While this isn’t great for transparency, it’s better than making a bunch of empty or misleading promises using flashy sales gimmicks. They do use at least one sales gimmick, which I mentioned in the “Contract Length and Early Termination Fee” section above. They say “Save up to $500 when you switch to Wells Fargo Merchant Services.” This is potentially misleading, though. You won’t get a check for $500 or a credit on your future expenses. Instead, they will pay for up to $500 of your qualified switching expenses incurred while switching from your current processor to WFMS. “Qualified switching expenses” includes two things: (1) early contract and lease termination costs, and (2) non-Wells Fargo reprogramming costs required by WFMS. You’ll also have to be processing at least $100,000 annually in Visa/MasterCard/Discover transactions, not including pin-based debit to qualify for this offer. Smaller businesses are out of luck. On the good news side of things, they offer some useful information in their Guide to Processing Card Payments. I also like their Cost Management Strategies Guide, although they kind of bury these resources and many others in their incredibly disorganized website design. As noted above, sales agents employed by WFMS to market their services have generated a very large volume of complaints regarding their failure to disclose important contract terms, especially the early termination fee. It’s impossible to say with certainty that this practice has been deliberately encouraged, but the current controversies swirling around Wells Fargo certainly suggest that this has indeed been the case. As always, do not rely on any verbal assurances from a sales agent, and thoroughly review all contract documents before signing any of them. Because of its unique position as a division within a much larger organization, WFMS doesn’t have any social media presence of its own. While the main Wells Fargo bank has social media accounts on Facebook, Twitter, Google+, LinkedIn, and YouTube, you’ll only occasionally find information related to merchant services on these sites. Customer Service & Technical Support:WFMS offers customer service and support primarily through a telephone number that’s available 24/7. You can also contact them through their website using secure email. There is no chat support available at this time. Unfortunately, while it’s nice to see that you can contact support at all hours, the quality of that support is not always very reliable. Poor customer service is a very common thread in merchant complaints about WFMS, and it’s definitely an area that has room for improvement. On the plus side, WFMS will assign you a relationship manager when they set up your account. Having a dedicated point of contact for customer service issues is a definite advantage – at least when you can actually contact that person. Like many traditional merchant services providers, WFMS has essentially no knowledgebase or self-help features on their website. Educational resources are limited to a pretty basic FAQ, and that’s about it. As a reviewer, it’s difficult for me to ascertain the quality of customer service when it comes to complex, account-specific issues. But that’s where you come in! Have you worked with Wells Fargo? Feel free to leave us your review. Don’t forget to read the user review and comment policy. Negative Reviews & Complaints:Wells Fargo Merchant Services doesn’t have a separate profile with the BBB, but you can find some information about them under the main Wells Fargo bank profile. Remarkably, Wells Fargo is not accredited by the BBB. They also have a C rating, with 4,575 complaints filed against them within the past three years. While probably only a small percentage of these complaints relate to merchant services, it’s impossible to even sift through them as details of the complaints are not available. What is available, however, is a rather lengthy list of government actions against Wells Fargo, including the current controversy over bogus unauthorized accounts. While none of these legal actions appear to relate to the Merchant Services division, it certainly doesn’t give you a warm fuzzy about doing business with Wells Fargo. A search on Ripoff Reportsyields 15 complaints that are actually against Wells Fargo Merchant Services. If this number seems low, it’s probably because a lot of the complaints are being filed against First Data, which is the actual processor for WFMS. Luckily, many of our readers have chimed in with complaints down in the Comments section below, and from them, we’ve been able to identify several common issues to look out for, including the following: Expensive terminal leases through First Data Global Leasing: Merchants have complained about not being aware that they were signing up for a four-year terminal lease. The whole “not being aware” part can be chalked up to the merchant not fully understanding how leasing works. In almost all cases, terminal leasing is unnecessary. Even with the re-programming fees, it’s much more affordable to buy your terminals outright. They don’t cost much these days.Withholding of funds/termination of accounts: This can happen for a number of reasons. Chargebacks and/or suspicious charges can easily raise a red flag that will either get you suspended or shut down. Both First Dataand Wells Fargo have been known to be a bit trigger-happy when it comes to holding funds or terminating accounts. You’re going to want to learn how to avoid holdsand minimize chargebacksif you plan on signing up with WFMS.Enhanced Billback: Wells Fargo and First Data are also known for using a billing technique called enhanced billback, which isn’t the most transparent billing method, to say the least.Early Termination Fee: As we’ve noted above, WFMS will charge you a $500 early termination fee if you close your account before your contract term expires. That’s pretty steep, especially considering there are plenty of other providersthat don’t charge an ETF at all. We’ve also seen a clear pattern of complaints alleging that Wells Fargo’s sales representatives usually don’t disclose this fee when trying to sell you an account.Poor Customer Service: We found many complaints alleging poor or even nonexistent customer service. I really wouldn’t expect much from such a large bureaucratic organization as Wells Fargo. While big processors don’t always have bad customer service, it seems to be a strong trend.Increased Fees After Sign-Up: Although Wells Fargo has a right to increase fees, it’s still a hard thing to swallow for any merchant. And judging by the number of complaints I’ve read about this matter, it seems WFMS likes to raise its rates frequently.Positive Reviews & Testimonials:There are no testimonials from customers on the Wells Fargo Merchant Services website. A previous version of this review found a few testimonials on YouTube, but if you search for “Wells Fargo Merchant Services” there now, you’ll mostly find complaints from customers about the bad service they received from WFMS. Needless to say, I’d like to see WFMS put forth a little more effort to prove that their services are worthwhile to prospective clients. Without any testimonials to rely on, your best bet is to ask your sales agent for references. These should be from businesses that operate in your same industry, and they should be merchants that your agent has personally signed up. Obviously, you’ll want to check in with those references to see what their experience has actually been like after the sale. If you’ve had a positive experience with WFMS, please tell us about it in the Commentssection below. Final Verdict on Wells Fargo Merchant Services:SPOILER ALERT: If you’ve been reading this far, you’ve probably already guessed that I’m not going to recommend Wells Fargo Merchant Services. You would, of course, be correct. With the vast resources of Wells Fargo bank behind them, there’s no reason why WFMS can’t offer a more complete range of products and services, more competitive terms and costs, and top-notch customer service to back them up. But they don’t. Instead, they offer a surprisingly limited array of products and services, for an above-average price. Customer service appears to be an afterthought. Overall, it’s like they’re not even trying. If they’ve been relying on name recognition in the past, it should be abundantly clear from the current controversy engulfing Wells Fargo bank that this won’t be an advantage for them going forward. While Wells Fargo was one of the relatively few big banks to emerge from the Great Recession with their reputation intact, their standing has taken a huge nosedive with the latest revelations about their sales tactics. For all of these reasons, WFMS only rates 2.5 out of 5 stars for now. We’ll be monitoring WFMS to see if the aftermath of their parent company’s current public relations disaster leads to improvements in service. At the very least, I’d hope there are some significant improvements in how their sales representatives are trained and monitored. I’d also like to see more transparency regarding their processing rates and fees on their website. Lastly, they should follow the growing trend within the industry and eliminate their early termination fee. If you want to deal with a big, stable bank as your payment processor, try out Chase Paymentech. They have better contract terms and a reputation for fairness. Otherwise, check out our merchant account comparison chartto see the best-rated merchant service providers in the industry. BioTwitterGoogle+LinkedInLatest PostsTom DeSimoneBased in New York’s Hudson Valley, Tom has written for Merchant Maverick since 2013 and currently serves as the website’s managing editor for payment processing content. His work is cited by publications including TechCrunch, Washington Business Journal, and Bank Advisor. Press seeking expert comments for stories related to credit card processing can reach him via LinkedIn for a prompt reply.@tahmdesimone+Tom DeSimoneLatest posts by Tom DeSimone (see all) Do You Really Need An EMV Chip Card Terminal?- April 18, 2019 Is Square Right For Your Business?- January 27, 2018 The Truth About Third-Party Payment Processing- January 18, 2018 How To Accept Credit Cards for Girl Scout Cookie Sales- January 12, 2018 The Best Mobile and Low-Volume Payment Processing Solutions- February 22, 2016 To learn more about how we score our reviews, see our Credit Card Processor Rating Criteria.Show moreShow lessLeave a comment41 Comments Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered. Marthe Dizon January 2, 2019 at 1:15 pm Organization Name: Homewatch CareGivers Rude people work there. They shame the Wells Fargo name, who are generally helpful and friendly. 1 Organization Name: Homewatch CareGivers ReplyKATE July 16, 2018 at 9:25 am Our company has been offering customers home improvement loans with Wells Fargo for years. We signed a contract with the customer to supply and install new windows, trim and capping for $5,500.00. We told the customer prior to starting that they would need to remove their curtains so we could do the install which they did not do. No biggie. As a courtesy my window installer removed and reinstalled the customers curtains. The customer then complained to Wells Fargo saying that they didnt want to pay their loan. As per Wells Fargos request, we reached out to the customer to see if their was anyway we could resolve the complaint. The customer told us to not “waste his time” and hung up on us. After cooperating fully with Wells Fargo, they withdrew $5,500.00 from our account and told us that we needed to find another way to collect payment from the customer. So the customer received brand new windows and because they didnt like the way their curtains were re-hung they got a full credit. Totally disgusting and outrageous, especially after we have given them years of business. I do not recommend this company 1 ReplyNICHOLAS HUFF July 10, 2018 at 10:26 pm Organization Name: I CAN FIX THAT stripe is a account under wells fargo payment services that has stolen over 1000 of my hard earned money. I have been a customer for over a year then one day I processed a payment and they decided to hold it. 1024.14 is being held for no reason. no where in the contract does it say I agree to let you steal any money processed through the account. you are liars and crooks I hope everyone knows not to trust you or process with you 1 Organization Name: I CAN FIX THAT ReplyP. A Watt June 26, 2018 at 10:56 am Organization Name: asian pho restaurant Base on my recently experience , stay away!! from Wells Fargo merchants sale service and beware of Clover leases agreement these people will take all of the money that you make from you. I had a Clover for a year and had a problem all year again Stay away!!shop around before you make a decision. 1 Organization Name: asian pho restaurant ReplySteve MomotDecember 30, 2017 at 10:07 am I too had some issues with Wells Fargo. The service was actually fine, my problem was that I never used it. I was able to easily cancel but when I tried to unload the apple style card reader they use I was informed that I had apparently locked in to a 3 year lease that is worse than buying a car. They dont give you any discount to leave early, which of itself would still be highway robbery. Then they tell you that you can transfer the lease to another company signing up for merchant services but that you have to find them. Now wait a second…lol…you mean to tell me that you have calls for new merchant accounts every day but you want ME to find a business to accept my machine? This is an obvious attempt to stick me with the bill and make getting out impossible AND to ensure that two machines are leased out to two companies rather than only one machine. Why get paid once for one machine when you can get paid twice the amount for two?!?! 1 ReplyJuan "Jay" WhippleApril 2, 2017 at 7:28 am Crooks, Crminals! DO NOT USE THIS SERVICE! They want to charge me $500 to terminate a service that specializes in bogus and –should be — illegal fees like $10/month if I do not log into my account, and $25 for some rigged Non-Compliance fee!They should be imprisoned in Rikers Island even if it is closed down! 1 This comment refers to an earlier version of this review and may be outdated. ReplyRobert March 27, 2017 at 5:03 pm Contacted WF and asked for a merchant account to sell gasoline and was informed that what we signed didn’t even cover fuel sales. We were asked to sign another after spending 1200 dollars on fees and equipment. Finally got the equipment returned but still cant get this thing cancelled without another 500. Rate a zero. Fees are adjusted as they see fit after 6 months. Another Zero. This comment refers to an earlier version of this review and may be outdated. ReplyCelia MolofskyDecember 26, 2016 at 11:10 pm This article says it all about Merchant Services, I only wish I could have read it first before switching to them. I was also told the equipment would be provided with no leasing fee or contract. This of course was a blatant lie. Plus, the credit card equipment lease runs a year longer then the merchant services contract. I’ve been told there was no buy out on that lease and I would have to complete the lease on the equipment for a total of $1,255.00. To buy the exact equipment from an Office Depot would cost about $125.00. My question is….what can we do about this? Is there a consumer bureau that protects small businesses? This comment refers to an earlier version of this review and may be outdated. ReplyChloe Bahal December 27, 2016 at 1:54 pm Hi Celia, Unfortunately not much can be done once a contract is signed. You can read more about why we never recommend leasing a terminal here. At this point, your best bet would be to leave a review on the BBB site. I hope this helps and if you have further questions please let me know. This comment refers to an earlier version of this review and may be outdated. ReplyDian ClarkNovember 30, 2016 at 12:14 pm Not a review but rather a question. When will the Class Action suit be brought against Merchant Services. Its damage is equal to the phoney accounts that the Sales Reps set up. In my case, I was required to pay $55 x 12 months longer than promised because they lied about the contract end date. . I want that amount refunded. $560 could pay towards a mortgage that I still have with WF. I only changed to their Merchant Services because I had been a long time customer and had my mortgage with them for a long time as well. I was happy with my previous Merchant Servicer. They did not even charge me to discontinue with their plan. I never should have believed the rep who solicited me. I am further very annoyed that you are told this conversation is being recorded. However, when I asked for the transcript of that recording to prove my point, I am told they do not have that recording. A supervisor said none was available while the Sales Rep still believed there was a recording. This comment refers to an earlier version of this review and may be outdated. ReplyEmily SandstromSeptember 15, 2016 at 11:43 am Have been trying to get my bookkeeper to unload this garbage merchant account for two years now, and am doing it myself. Flagship gave me wholesale rates: I have less than one attempted chargeback a YEAR, and do about a hundred thou a year in merchant business.Wells Fargo’s statement would daunt a lawyer. It has stuff about rewards cards, god knows how many little chicken**** miscellaneous charges, all of which add up to $300 or so a month. They issued a new terminal and told my secretary they would not take the other one back, so I ended up paying double terminal leases.When I have called the service, the people are skilled and courteous, and they answer the phone. I have a Wells Fargo checking account, and BY NO MEANS do these creeps put the money in the next day. It’s three days, AND the bank holds the deposit up for odd times waiting for that minute they can bounce a check as the cash flows in and out. This is an obsession with Wells Fargo.When merchants got money from past defrauding by this company, I did not get any, unless it was in the fine print of one of their monstrous bills.Flagship has a flat per-transaction fee and a small processing fee per month. I will save at least $200 a month with Flagship. Check them out if you are a merchant. 1 This comment refers to an earlier version of this review and may be outdated. ReplyDian Clark September 8, 2016 at 9:17 pm I would like to see a class action suit against Wells Fargo Merchant Services. they solicited me when I already had a merchant provider. I was able to cancel with no additional fees and join Wells Fargo and did since I had all my banking and mortgage already with Wells Fargo. I had not experienced any deceit prior to my getting a merchant account. I told them I only wanted a two year contract and was advised that was possible. however, when I tried to cancel at the end of the two years, I was told I had a three year contract. I also had understood that my original conversation with them had been recorded and when I asked to have a transcript of that recording to prove my point, the sales person who told me there was a recording but, referred me to his supervisor to retrieve it.I was then told by the supervisor they did not have my recording. Since I had a lease with First Data, I was hooked into paying $55 for a machine for an additional year. I would not borrow one penny from Wells Fargo and only use them for their on line banking. They suck! If it were not such as hassle to refinance, I would move my mortgage as well. Do not trust them, they continue to line their deep pockets at the expense of unsuspecting customers. 1 This comment refers to an earlier version of this review and may be outdated. ReplyAnne OthenAugust 2, 2016 at 2:38 pm Awful Service – Wells Fargo Merchant Services is looking like it’s a rip off and waste of time. Can’t get a manager to call back. They can’t (or won’t) answer to their mistakes. Could be a “Good Ole Boys Club ” or just your typical sleazy processing company is disguise… Shame on you Wells Fargo! Get rid of these idiots! They’re making you look Bad! This comment refers to an earlier version of this review and may be outdated. ReplyD Gonzales January 28, 2016 at 11:45 am Like most others, I would give WFB Merchant Services a -10 if I could. Here’s my story ….Was told by the Sales Rep she could beat the rate of our then current processor. Our previous processor was averaging about 2.7% effective rate monthly, that’s inclusive of all fees, charges, etc. The Wells Fargo Sales Rep quoted a rate of 2.2% plus a few small extra fees, but didn’t mention ANYTHING about the interchange fees. And we sent her statements from our previous processor so she could do a competitive analysis. After we switched to Wells Fargo, the effective rate was 2.84% (first month), 5.15% (second month), and finally 7.99% (third and last month), before we finally cancelled. Took me over a month to reach the Sales Rep’s supervisor (she would never call back) and her only way of an apology or explanation was saying the Sales Rep was new and would get more training. I would NEVER do business with Wells Fargo Merchant Services again and I’m looking and switching all my regular business banking as well.P.S. Was able to get the final Service Rep to reduce termination fee to $250 when I cancelled.P.P.S . The new Merchant Services provider offered to pick up the cancellation fee for switching over. 1 This comment refers to an earlier version of this review and may be outdated. ReplyStacey Cannon October 28, 2015 at 6:34 pm WARNING: DO NOT sign up for Wells Fargo Merchant Services! First of all, after “promising” a savings of $200-$300 per year over my old provider, I’m currently paying TWICE as much. When I called for an explanation of the fees and charges, the customer service rep couldn’t explain ANY of the charges on my statement! Next, when I signed up, they told me that the terminal would be free of charge, then they charged me $180! Now that the EMV payment system has become “mandatory”, they want to charge me $500 to upgrade! When I refused to pay that and asked to close my account I was informed of the $500 early termination fee! And I thought extortion was illegal… 1 This comment refers to an earlier version of this review and may be outdated. ReplyKaren October 6, 2015 at 9:05 pm If I could give Wells Fargo a negative 10 rating I would. I have a small business and was offered the service from my banker. I signed up, not realizing it was going to cost me $500.00 to cancel or how much they actually were going to charge per transaction. I was told the contract was for two years. Nope. Three years. I now see the importance of not trusting a person and I should read every little word in the contract, even if it is like a book. I accepted a credit card from a client for a $600.00 bill. Merchant services took $136.00 from that. I tried to cancel but didn’t want to pay the fee. I told them to cancel me as soon as my contract was up. I called several times since then about it and they said they would cancel it. My contract expired 6 months ago and they are still deducting $15.00 per month from my checking account. I’ve called them three times today, each time I get a different person. Not one of them could help me. Twice we were “disconnected”, two different people told me to call my branch. I called the branch and one person sent me to another person, she said she didn’t know why they told me to call there because that was not something they dealt with. She told me to call another person but she had to call me back with the number. She said, I’ll call you right back. She did not call back. I called Merchant services again and was told to call the branch again. I called the branch about 30-45 minutes later and reminded the lady that she was suppose to call me back. She gave me the name of another person and her phone number. Naturally, she’s not at her desk. I left a detailed message. I wonder if she’ll ever call back. Wells Fargo Merchant Services is HORRIBLE!!! They’re CROOKS and they have TERRIBLE customer service. I guess I’m just going to have to stop banking with Wells Fargo so merchant services can’t keep steeling my money. 1 This comment refers to an earlier version of this review and may be outdated. ReplyBill April 13, 2016 at 9:04 am After sending the cancellation form September 1, 2015. The merchant service was still taking out fees two months later. I closed the checking account to stop the pain. It now comes as no surprise that Wells Fargo has business interest in First Data Merchant Services. They are all about collecting fees to pad their bottom line. This comment refers to an earlier version of this review and may be outdated. ReplyMary CommanderOctober 3, 2015 at 1:18 am One star is generous! Wells Fargo piles the fees on your merchant account. Two other companies said(and eventually Wells Fargo admitted) that I had been charged double the going rate even though I was a long-term customer who maintained a very large monthly balance. My trust in Wells Fargo was misplaced. I am taking my business elsewhere! 1 This comment refers to an earlier version of this review and may be outdated. ReplyJohn Williams May 23, 2015 at 2:14 am I have been a WF customer since they bought out Wachovia and I have several accounts with them so when i was encouraged to take credit cards with my small company I thought Well fargo merchant sevice would be the obvious choice so if there were any problems I would have my bank on my side. I have a small cabinet business and most customers pay me with a check but one contractor that I do alot of business with only wants to use his AMEX card, so basically I have signed up for Mercahnt service for one client. About a month ago I was collecting a $9,300. deposit on a job and accidentally pressed the zero thinking I was pressing the decimal point so I ran a charge of 93,000.00 by mistake, both of us saw the mistake and since I dont run credit cards every day ( mayby 3 times a month) It freaked me out and I immediatly tried calling the customer service wich takes so long to get to a human, the customer said to just refund or credit him back the balance aprox $83,000.00. Fast forward to the time the Merchant service takes the fees and I get Charged on the total 93,000 wich amounted to $2300.00 more than if the mistake was not made. The $93,000.00 was never put in my account, nobody from the merchant service called to ask or tell me that I should have just cancelled the transaction, Wells fargo said that AMEX would not refund the 2300. dollars so I would not get my money back and that I could be charged up to $1,400. in fees next month for the mistake also. I dont know how they think this is morally right, I talked with a customer service rep from AMEX and he said this happens and they would have no problem refunding the money but since wells fargo is my merchant service that I would have to get the refund from them. SOMEBODY IS NOT BEING HONEST. This comment refers to an earlier version of this review and may be outdated. ReplyRichard Wiesner March 4, 2015 at 9:32 pm I finally reached the end of my contract with WF Merchant Services. My last statement listed 24 separate fees! And I only ran eight transactions through this account. They raised my rates without warning. They did not offer a better rate when I complained. Crooks, Liars and Cheats. This comment refers to an earlier version of this review and may be outdated. ReplyKRegalado February 14, 2015 at 9:55 pm I been banking with WF. An officer fr the bank convinced me to Wells Fargo Merchant Services. Thats when my nightmare began. They don’t disclose anything. So I asked a lot of questions before signing. But after a month , I got lots of surprise fees came. To call customer service is a headache. They dont listen to you. It seems they have this ready answer and will let you pay 500$ termination fees. They just want to charge lots of money fr your bank account. Too many undisclose fees. Not worth my time with this Wells Fargo Merchant. I tols them I will bring this to the social media and they gave me $250.00 termination fees. I agreed and I just fount out Wells Frago Merchant Services still continue to charge me monthly fees . This comment refers to an earlier version of this review and may be outdated. ReplyBob Smithey January 22, 2015 at 5:15 pm They cold call our store. Asked for the previous owner, who passed away two years ago, then tried to tell us that they were informing us about services… and it wasn’t a sales call. I asked to be put on the do not call list. WF said that they didn’t have one. I asked for their sales telephone number. Couldn’t get it. When I asked for their manager, they hung up on me. 1 This comment refers to an earlier version of this review and may be outdated. ReplyAlan Lawrence January 21, 2015 at 11:04 pm Wells Fargo has been charging as much in “extra” fees as they have been charging me for processing fees for years. I was paying an effective rate of over 6%. Three months ago I switched to another processor but they keep charging me the “extra” fees even though they are no longer processing my credit cards. I have been trying to get them to close the merchant account but they are not co-operating. It looks like they only way I can stop them is by closing my bank account and opening a new one, which is going to be a big pain. Do NOT use these people. This comment refers to an earlier version of this review and may be outdated. ReplyDan WoodardOctober 14, 2014 at 10:15 pm I agree with the other reviews. There is no integration or even communication between the bank and the credit card merchant services. The application process was complicated and inefficient, it is difficult to tell what services are available, verification over the phone was tedious after all that they cannot help you. All in all, a nightmare. 1 This comment refers to an earlier version of this review and may be outdated. ReplyLisa BittanSeptember 13, 2014 at 3:30 am I wish there were 0 stars possible. I would like to warn everyone about WELLS FARGO MERCHANT SERVICES. WELLS FARGO MERCHANT SERVICES should be prosecuted for fraudulent misrepresentation. They do not disclose anything negative when you sign up, including their termination fee of $500. After you sign up, you are basically captive for 3 years unless you want to pay that fee. For asmall business, with no experience in this sort of service (ie, taking credit card payments, etc), it is easy to fall in their trap, and this can be devastating. Their fees are exorbitant and their customer service is pitiful. If you want any specifics, please email me directly. I am going to find every possible outlet to warn again Wells Fargo Merchant Services. I am also a lawyer, and One day when I have the time, I may attempt to initiate a class action suit against them. 1 This comment refers to an earlier version of this review and may be outdated. ReplyMarie Huskins October 13, 2016 at 11:32 am Lisa..I would be very interested in hearing from yu if you do deside to proceed with something….I have recently considered contacting an attorney myself as they gave me specific instructions by mail to do with regard to a chargeback and a date to do it by..I was also told the same via phone….when I called back after said date to see what stautus was and next step if any…I was told that case was closed on 9/22/16….the date of the letter they sent me…as well as 8 days prior to verbal discussion….Their reply was that the letter should not have been sent…it was computer generated and that the rep that I spoke with ( and her notes do support what I say she said) “misinformed me”…they apologize….THATS IT!! I said they need to do something to fix this…” although I with there was something we could do, the case is closed and we cannot reopen..again we are very sorry for the mistake”….We are a small business but we do an average of 24k a month with them…and all they will do is say sorry…not good enough!!……Ill come down off my soap box now…anyway…please email me if you proceed against them. Marie Huskins This comment refers to an earlier version of this review and may be outdated. ReplyJanet Opre-Mittendorf August 3, 2014 at 9:50 am WFMS is horrible! I am a one person glass art small business. In April I registered for my business tax id, which somehow sleezy Wells Fargo retrieved my info, matching it with my mortgage info. What began with an email telling me I qualified for free accounts, has resulted in me losing hundreds of dollars in bank fees and mysterious charges, along with a lease that will cost me $700 to get out of. They totally scammed me, and had I not “known somebody” it would have cost me an additional $500 when I cancelled my business account. Why they chose to feed on a disabled person trying to earn a little money is beyond me. I am taking all our accounts elsewhere; this after over 10 years with Wells Fargo. Shameful This comment refers to an earlier version of this review and may be outdated. ReplyAndy Newell July 15, 2014 at 12:40 am Wow what a scam! I wish I had done more research but after 30 years of a successful banking relationship with WFB I guess I expected better. I was told clearly over the phone that my cost would be a $95 setup fee (for what I’m not sure), $5 per month and 3-4% of the transaction to accept credit cards over the phone “touch tone processing”. I used it a couple of times and it worked well and the money was transferred quickly. Then I got a statement and realized they were charging me the anticipated $5 per month, $.35 per transaction (not a big deal, they were big $) but also charging me $10 per month for a paper statement I never asked for. I got fed up with it and arranged to do CC transactions with another entity that I already do work with. I then called WFB Merchant Services to cancel. Surprise! on page 44 of a 56 page internet document of legalese that is briefly mentioned in the actual agreement is the only mention of a three year term with a $500 minimum cancellation fee. What a crock. If they had a competitive product they could keep customers with service but instead they punish them for leaving. I find it ironic that their phone tree has a specific selection for cancelling an account. It must be a really big revenue generator for them. When I finally got to someone who could actually cancel the account I told them there was no way I was going to pay $500 just to go away. I begrudgingly agreed to $250 just to get it over with but I feel like I need to take a shower after such a screwing. Don’t do business with these crooks, and if you do don’t let them charge you more than $250 to release you from their trap.$445 in fees and unexpected cancellation fees for 9 transactions over three months. That’s not the WFB I know and love! 1 This comment refers to an earlier version of this review and may be outdated. ReplyRandy Thompson Jr. February 4, 2014 at 8:17 pm Wells Fargo Merchant Services is an absolute scam. I was conned into switching from my old merchant to Wells Fargo Merchant Services, under the claim that I was going to save a lot of money. The sales rep was high pressure and conned me into believing I was going to save money. Well, it’s been 2 years and I’m paying at least 50% more annually in fees than I was paying before. I barely process any transactions, maybe 1 every few months, but I’m locked into a 3 year contract. The rep did not tell me it’s a 3 year contract. But when I called back, he said “You signed the contract”. Somewhere in the dozens of pages of legal BS, it says 3 year contract with $500 early termination fee. Well, I wish I cancelled and just paid that $500 fee right away, because I’ve spent over $1000 in fees and I STILL have to pay $500 to get out of the contract, or else pay for another year of rising rates. Every month I’m charged a different amount. They won’t tell me the amount so some months it just randomly bills me twice what it was the previous month. They are the biggest scam artists in the merchant services industry. Save yourself a headache and process with someone else. Wells Fargo Merchant Services BLOWS and I’m cancelling ALL of my personal and business bank accounts because of their bull ****. Wells Fargo, you are hurting your loyal, innocent customers. There is no reason to treat your customers like dog crap. We are paying your bills! I foresee the end of Wells Fargo & all subsidiaries within the next 25 years. Mark my word. This comment refers to an earlier version of this review and may be outdated. ReplyLisa BittanSeptember 13, 2014 at 3:32 am I completely agree with your assessment. I am 2 years away from the end. Do you think I should just pay the $500 fee and be done with them? Do you know of any other venue to warn people against Wells Fargo Merchant Services? This comment refers to an earlier version of this review and may be outdated. ReplyTracy December 3, 2013 at 5:45 pm Agree with all of you. Wish I had read this before I was pushed into getting WF Merchant Services by the CSR at the bank. Been on the phone with them 4 times today and no one can explain why I was charged 10% on last month’s cc transactions. So on the 5 time I told them to close the account, bc I was going back to Square. That’s when I was informed of the $500 early termination fee. I asked the lady if I never used the cc reader again, what would happen. She informed me I would be charged $20 a month regardless! They are scammers!!! When you purchase a cell phone, they let you know up front that there is a early termination fee. Why cant they!!!! This comment refers to an earlier version of this review and may be outdated. ReplyJeff WrightNovember 26, 2013 at 5:18 pm Do not sign up with these guys at all for cc processing. I was with current company for 7 years. Wells Fargo made all sorts of promises about how they would save me money on cc processing. They had statements, etc. I sign on with them all of a sudden with ic rates my cc processing is 3 times what it was before. Now they are mad at me. I cancel my contract, They charge me 1350 to do so for lease, 500 for wells fargo, and 200 for the machine they lost. I saved this much not processing with them for the last six months so I am happy that I am once again saving money. The wells fargo banker was yelling at me because he told me to process a certain way that I cant do with my business. Now I am closing all of my wells fargo accounts which was over 40000 dollars and going banking elsewhere. They do a great job of getting rid of their customers. Never again will I bank with wells fargo. This is legal theft and a bunch of bs. This comment refers to an earlier version of this review and may be outdated. ReplyJennifer PoissonNovember 14, 2013 at 5:03 pm I think everyone should be aware that there is a clause in the contract (hard to see because it just has you initial i little box that says you went online and agree to the terms and conditions.) These terms and conditions are a 50page document online. Somewhere in that 50 pages… it says that you agree to a 3 year contract. I think this is completely deceptive and my sales rep said there was no contract. I closed down my business and got stuck paying the fees for two years. I would recommend checking out other companies…. This comment refers to an earlier version of this review and may be outdated. Replymaria katsaros August 27, 2013 at 10:43 am Wells Fargo is the WORST merchant service company! they give you the run around, you can’t talk to anyone on the phone and their rates are the worst in the business! they are thieves! Was with them for years and just changed merchant services, and now realized how many “Bill Back’s” and misc charges they were making! I am now saving almost an average of 500 dollars a month. They are a disgrace of a company! 1 This comment refers to an earlier version of this review and may be outdated. ReplySandra KerrAugust 9, 2013 at 8:49 am We are a small family business. We recently had our Wells Fargo Merchant Services account terminated for reasons we still do not understand. The determination was apparently made by one person in their security department who was not only totally unhelpful but extremely rude during this process. This entire experience has been not only embarrassing and stressful, but expensive. We were told we could use the account for 30 more days, but all funds would be “held”. Now we are left with the hassle of an ongoing battle with First Data to try to get the four year “uncancellable”contract cancelled on equipment we are no longer allowed to use. What a nightmare! We are in the complicated process of closing all Wells Fargo accounts and switching banks. Be VERY careful dealing with Wells Fargo and their business department. This comment refers to an earlier version of this review and may be outdated. ReplyDian Clark May 5, 2013 at 8:34 pm Wells Fargo Merchant Services is a first class scammer. Do not do any business with them. I will never enter into any agreement with any of their representatives. They are cheaters and liars. Their rating deserves a –100 1 This comment refers to an earlier version of this review and may be outdated. ReplyJames Ritchey April 2, 2015 at 4:19 pm Wish I had read these reviews before getting into a contract with Well Fargo Merchant Services. A great sales lady with a great pitch and lots of out right lies talked our owner into switching to save money. After the second month it was apparent the bill doubled and all questions about saving were responded with utter BS. To cancel is $500 +1900 = $2400 so they robbed our business pretty good for just several months. Lots of time on the phone listening to lies and BS. Is there any class actions? I would pay twice as much to see these thieves people brought to justice. This comment refers to an earlier version of this review and may be outdated. ReplyAlfred, Sonia, & Brian CardozoSeptember 10, 2012 at 3:42 pm We are Wells Fargo customers for nearly fifteen years. (Previously Wachovia/First Union days without a problem. Well I should say First Union, Wachovia, and now through acquisition we are deeply unhappy and horrified Wells Fargo customers, but not for long. To my point, we decided to close an amazing Merchant Warehouse credit card processing account to move our entire relationship to Wells Fargo. We were a Merchant Warehouse client for five years without one problem. We generated $2.5MM in sales the third year with Merchant Warehouse. With that being said, we decided to move our credit card processing to Wells Fargo considering their banking speacialists were always begging us to move our relationship. Well, we did and what a mistake we made. Lets get to the break down, within the first two months we processed 440 transactions (I.E 440 towing jobs) generating $88,000 dollars in revenue for their DDA account (Business Checking/General Ledger) not to mention the credit processing department. Consequently we called their customer service department to ask why we didnt see a deposit of $5,000 dollars on Monday morning from the work over the weekend. They stated that the risk department closed our account and will be holding our funds for up to 180 days. They also stated, “we will allow you to keep processing transactions with WF for the next 30 days until you find a new merchant account.” So I asked, “so will the funds be deposited into our account?” The representative said, “No those funds will also be held for 180 days.” What a horror story, they want me to give them more funds that they can hold? I asked the representative why they closed our account, they said its because 4 customers out of the 440 complained about our services and they were unhappy with the tow/price and/or dates it was completed. More over, because of this high risk towing business with less than a 1% dispute ratio they closed my business account/personal accounts, put a credit restraint on the account but not a debit restraint allowing all outstanding checks to go through causing the account to go negative. They even closed an employee account and held $1,400 dollars of her money even though she had nothing to do with the business. However, they left our very financial sound well over six figure mutual fund in their securities department, safe and sound. And my last little fact about them. On another note, we added our son Brian to our safety deposit box as a beneficiary. Not an owner, a beneficiary. He didn’t sign any safety deposit box agreement, know about it, he wasn’t present on the addition as a beneficiary. None of the above. Well, we decided to go on a cruise for 10 days a month ago. What do you know our safety deposit box was locked and we couldn’t access the box due to our son in a civil legal matter with a past landlord due to his mistake. Although we all make mistakes and he is learning his lesson which we do not ignore, his legal liability shouldn’t roll over to our box due to him as a POD. That would be like your neighbor getting into a legal matter with your homeowners association and you being held responsible because hes your neighbor. He isn’t on our accounts, he isnt a signer, he is only a POD/Beneficiary. Now we have missed our cruise cannot acccess our box and asked for help with the legal department regarding the frozen box which they have suggested to get an attorney because they cannot speak to me. So now, we are going to find the most aggressive attorney that can make this situation right. Our mission is to be vigilante for the rights of the American Citizen that is truly not doing anything wrong. And to stand up for all the other consumers that have been taken advantage of and put in financial distress. We have also wrote the Attorney General, FCC, and other governing bodies. To top it off its not finished.They added us to a TMF or MATCH list so we are unable to get a traditional merchant account because we are labeled as HIGH RISK on a shared list of companies, however, we didnt have a problem with the first merchant provider we were using for credit card processing. Consequently, we are still unable to get a new merchant account because they said im on a list and our account is labeled as fraud/high risk. Meanwhile, I have the four chargebacks that caused us to get “shut down” and they are customers that are complaining a vehicle being transported from Florida to California took an extra day to get to California. I mean that sounds like a Nigerian scam? Come on Wells Fargo, you didn’t have to have your cake and eat it too. I mean the driver drove 3,000 miles which is 7 days of driving to deliver the vehicle.And because the driver was a day late the customer wants his $1,000 dollars back? Friendly fraud was in the billions this year based on consumer reports. I am a victim, and I have been taken advantage of by Wells Fargo. We are unhappy, hopeless in what to do, and need others to see this message. We hope you can help. Please let us know your thoughts. The Cardozo Family This comment refers to an earlier version of this review and may be outdated. Replyrichard hardsog July 22, 2013 at 7:56 pm wells fargo and first data are the worst of the worst. I had acustomere who gave me an order for a large commercial fan , sadly this was my first and last deal with this gang of thives. 15880.00 is floting around somewhere,, I never got it my customer stated the funds were removed from his account the same day. 12 days later I asked them to let me reverse the transaction I was told my account was closed anno longer has itd they could not refund the money as they could not verify funds were available.. they should have looked in their own account. .that has to be where the money is.as I never got the money, and my customer said it was gone from his master cards. This comment refers to an earlier version of this review and may be outdated. ReplyEmily SandstromSeptember 15, 2016 at 11:57 am Join Costco as a business. They probably still offer merchant services. They are much less expensive. I don’t swipe cards, and have an excellent record, and they offered me 2 percent. They offer merchant services to their business customers. I went with Flagship – am in the process. They are the largest merchant services company. Don’t need a merchant terminal there since I don’t swipe cards. The deal was spectacularly better. Flagship seems, to me, so intelligent that they could listen to your history and offer you merchant services. You could also open up another business and get merchant processing for it, and then combine the volume of both. I wish you luck. This comment refers to an earlier version of this review and may be outdated. ReplyVista Morris September 7, 2012 at 1:06 pm We switched from Wells Fargo Merchant to Chase Paymentech at one of our restaurants after 2 years with Wells. Chase is MUCH better. Lower fees and no random fee changes. Wells Fargo is TERRIBLE. I used them because we use Wells Fargo bank. While we like the bank, merchant is terrible. We had interchange plus pricing with a 14/cents fee. After 5 months (on a 3 year contract) we noticed they doubled our rate to 28/cents. We called to complain and they said “we sent you a letter”. For our second restaurant, we stayed with Wells due to a 3 year contract. We just found out that they changed our interchange plus pricing on debit card to a “bundled rate” of 1.1% + 30 cents vs .05% + 21% interchange pricing!! This was $300+ extra a month savings we lost. We have now moved all locations to Chase. I recommend avoiding Wells Fargo. This comment refers to an earlier version of this review and may be outdated. ReplyLeave a Reply Cancel replyYour email address will not be published. Required fields are marked * Name * Email * Website Organization Name Rating Your Review Comment moderation is enabled. Your comment may take some time to appear. Please read the "User Review and Comment Policy" before posting. Reset Apply Filters Time in Business Your Credit Score500 Your Annual RevenueBorrowing AmountTerm LengthTime to FundingInterest or Factor Rate(s)Products OfferedOther FeesEase of ApplicationCustomer SupportApply FiltersFeatured iPad POS: Lightspeed We love Lightspeed POS for both restaurants and retail stores. Schedule a no-commitment demo today! Learn More Featured Easy-to-Use POS: Clover Want all your POS hardware and software in one place? Check out Clover for simple, easy-to-use small business point of sale solutions. Learn More Are You Overpaying for Credit Card Processing? Find out today with a free, no-commitment savings analysis from a trusted industry pro at Payment Depot.  Get Your Free Analysis New to Credit Card Processing? Related Articles 21 Jun 18The 5 Best Small Business Credit Card Processing Companies For 2019Trying to choose the best credit card processing company can be overwhelming. This is especially true when you are a new small business owner who has never even heard of a "merchant account" before -- but the truth is that even seasoned CEOs can... Read 11 Dec 18The Cheapest Credit Card Processing Companies For 2019Business owners today know that it’s more important than ever to be able to accept credit cards. Customers carry less cash and rely on credit and debit cards for the majority of their purchases. If you’re an eCommerce merchant selling... Read 31 May 18The Best Online Credit Card Payment Processing CompaniesSo you're a merchant and you want to start an ecommerce business. That's great! You're going to need, at minimum, three things: Products/services (of course), a website (obviously), and an online credit card payment processing company.Not... Read 7 May 18How To Accept Credit Card Payments For Your Small BusinessWhether you’ve been in business for a while or are just starting out, you know how important it is to be able to accept credit and debit cards as payment from your customers. Credit card usage has soared over the past twenty years or so, while... Read 27 Aug 18The Best High-Risk Merchant Account ProvidersJust about everyone in business these days needs to be able to accept credit cards. Finding a reputable merchant account provider to process those credit card transactions for you can be a pretty daunting challenge for any business, but it’s... Read ShareReviews. Ratings. Comparisons. Unbiased Reviews That Save You Time and Money. Copyright © 2019 Merchant Maverick. All Rights Reserved. Sign Up For Our Newsletter Content Updates, Free Guides, and Discounts HomeAbout UsBlogTerms of UsePrivacy PolicyFind Us On:


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Oracle HCM Cloud Reviews

Oracle HCM Cloud Reviews


Request A DemoSign In to Vendor PortalWrite a ReviewSign InTrustRadiushttps://media.trustradius.com/product-logos/pg/ia/QBIV9OKU7MG7.JPEGOracleHCM Consultant / Implementor2019-03-27T16:20:47.191ZI implement HCM cloud to my clients. I generally find it is a good product but it has a few bugs, and they are hard to fix. The SR process takes forever. Also, there is not enough documentation on the upgrades, so with each upgrade we have to do our own testing. The HCM cloud software streamlines the HR processes into one system which has shifted a huge administrative burden off of our clients. This is a one stop shop for end users, and with proper change management it will be a wonderful cloud based system for the organization.,Integrating the modules together, the system knows what items are associated with each other and then works properly to talk to each other.Communicating about environment upgrades and downtimes, Oracle sends out many emails on when the test vs. prod environments will be upgraded and what the key changes are.Promote the brand (OOW, MBX, etc.)- Oracle hosts many conferences throughout the year to bring clients and partners together to continue the growth of the organization and cloud based systems.,System bugs and enhancement requests, it is often difficult to tell our clients that there is a bug that oracle is working on because we often have no insight into when this will be fixed or WHY the issue occurred and I have noticed the client becoming frustrated.Screen and image size in video players (OLC)- in the Learning cloud we have seen issues with the clients content not displaying correctly and it is usually unclear how to fix this and what the best practices are for the content that is being loaded into OLC.Search engine often only works then you type last name, first name- often when searching in HCM on an employee, it is hard to find that person with just a simple first name search. Many times, I have to search by the last name, first name to find the user - which is unclear to an end user.,6,Yes as it streamlines HR into one place - many clients, by the end of the implementation, are very happy with the solution and know that with the proper change management it will be the best end user experience moving forward. I struggle when clients do not buy the full suite of the HCM cloud because it feels like there are still too many systems that need to talk to each other.,Increase in quality of new hiresIncrease in percent to hireDecrease in employee turnoverIncrease productivity of employees & HR administrationImprove compliance oversightIncreased/deeper workforce insights,Not a member of any user groups,N/A as I am an implementer,Keely MurphyHappily new to the Cloud2019-03-21T18:35:56.669ZWe implemented Oracle Cloud products as of December 31, 2018. We implemented HCM, ERP, and EPM. We are a global company and are using the various modules for all of our employees throughout the world. The initial problem we were trying to solve was a replacement of our Finance system as we were using a product that was old, out of date, and no longer supported. As we started to research modern ERP systems, it became clear that we could also replace our budgeting systems, and our payroll system. So the approach quickly changed to multi pillar. As a result of the go live of Oracle, we were able to sunset around 20 different systems that we were using to solve these business problems.,Payroll is easy to use and works well. Workflows have automated many processes.HCM is fully integrated - Core HR, onboarding, absence management, time and labor, payroll, learning, and hierarchy. This same data is shared across ERP and EPM.New digital assistants will make it very easy for our employees to get quick answers 24/7 to their problems.Mobile enabled pages make it easy to access all the functions of Oracle Cloud anywhere in the world (I logged in while on vacation in Spain).,Delivered Oracle reports don't have enough parameters to limit data that is returned. For example, for our payroll, the Payroll Costing report for one pay period returns too many rows for Excel.OTBI is both easy to use and hard to use. If you don't know the exact field name, you cannot report on it.Workflows are overly complicated to createPayroll is not a part of HR in our company. The delivered roles and functions are making it difficult for us to get our jobs done - we are having to give inappropriate HR roles to payroll, and right now, HR cannot see ANY payroll data (even though roles are split between user roles and data roles - we cannot get this to work).Of all things, direct deposit maintenance is overly complicated. Easy to create an initial account - very hard to update it (this is true for both users and payroll).,10,For some departments, it has made us much more efficient. For example, we are looking at headcount realignments in the payroll area due to the efficiencies we have gained. In other departments, they have had to add headcount as there are more steps for some processes.Overall, we have also had to create a new team to manage innovation and quarterly updates. While that was an unexpected cost, we are happy that Oracle is delivering frequent innovations. We are looking forward to Oracle improving the quality and completeness of the documentation of the quarterly updates.,Decrease in employee turnoverIncrease productivity of employees & HR administrationImprove compliance oversightIncreased/deeper workforce insights,Not a member of any user groups,Workday Human Capital Management, ADP Workforce Now, ADP ezLaborManager, ADP SmartCompliance, Lawson (Intentia), BlackLine, ADP Enterprise eTIME, Concur Travel and Expense and CertifyLisa HarrisCloud and Retail. Is it a match for you?2019-03-21T18:12:03.010ZWe are currently using HCM Cloud across our whole organization. We are live in 5 different countries (US, Canada, Mexico, Hong Kong, and China). We currently utilize the system in our Stores, Corporate, and Distribution centers. MSS is utilized by our stores and ESS across all the areas. This product allows us to centralize all of our employee data in one central location. Allows us to control and secure our data access more easily, makes reporting more efficient, and allows us to streamline our processes by making them consistent across each country.,Streamlines processes by making them consistent but also allows ability to slightly change those processes based upon business units needs.With new newsfeed capabilities making system access more readily available to all users on all devices.Allows for upgrades which allows end user to be on the most up to date product but now incorporates features to truly let you determine when to release those features.,With Oracle being a database company you would think integrations would not take so long to run but they do.Need to allow more functionality within OTBI. Shouldn't limit OTBI reports to 25k rows when needing to send data to customers. Makes it difficult to have to write those types of reports via HCM extract or BI report.Learn needs to continue to mature to compete with other LMS systems.,7,Can't fully explain since I wasn't involved with initial implementation.,Increase productivity of employees & HR administration,Oracle HCM User Group,Workday Human Capital ManagementSteve JordanOracle Taleo Talent Management2019-03-20T23:10:57.756ZWe utilize HCM cloud across our organization in US and Canada and are working through an implementation in Mexico for recruiting, talent management, and organizational learning. We hire over 12,000 associates every year, complete 20,000 + goal plans and reviews. We currently have 20 different review processes that are represented in our performance management piece. We utilize learning to deploy various types of training content, complete compliance training, onboarding, and integrate course completions for many other vendor training which is critical to our business.,Taleo Learn makes communicating and tracking requirements easy.We are able to hire a high volume of associatesWe can have many customized performance plans.,Reporting out of Taleo Learn is difficult.Automation of performance plans in Taleo performance is difficult given our complexityHistoric performance records of terminated associates can be difficult to find due the the large number of previous associates records we have,7,Through pipeline requisitions we are able to recruit and fill higher turn over jobs, and using the candidate data we can track the length of hire throughout the process and identify bottle necks, we been able to integrate our data with other enterprise analytics tools. Our performance review processes have driven performance conversations and we have seen a direct impact on associate engagement.,Decrease in employee turnoverIncrease productivity of employees & HR administrationImprove compliance oversightIncreased/deeper workforce insights,Not a member of any user groups,Using the HCM data to connect to operational data to improve performance and outcomes of out maint workers,UltiProJoshua PekarOracle Fan2019-03-20T21:02:17.620ZAXA Equitable Holdings leveraging former parent company AXA Group Oracle HCM solutions for US Talent Review, Succession, and Recruiting (learning with Cornerstone and Performance with Towers). With our IPO completed last year, AXA Equitable Holdings embarked on a journey to separate from Group talent tools and create a local Oracle HCM platform to support our post IPO People Strategy. In December 2018, AXA Equitable Holdings purchased the following modules from Oracle:1) Core HR2) Career Development3) Performance Management and Goal Management4) Compensation5) Recruiting Cloud6) Enterprise Edition Platform as a ServiceThe above services will be implemented across 2019-2021 using a combination of agile and waterfall implementation methodologies.,Highly responsive sales orgHighly responsive success implementation management teamFuture proofing - Oracle keeps delivering new digital experiences through the platform (quarterly release updates)Voice of customer designFocus on business outcomes customer digital experiencesSecurity,Service desk - there's too much red tape to get technical assistance on issues. It feels like a "black box" where you can get bounced around a couple of times.Pricing - it's expensiveContract inflexibility,10,We have just launched our transformation journey,Increase in quality of new hiresIncrease in percent to hireDecrease in employee turnoverIncrease productivity of employees & HR administrationImprove compliance oversightIncreased/deeper workforce insights,Not a member of any user groups,Journey underway,KEITH PRESSLEYHomeHR Management SoftwareOracle HCM Cloud ReviewsUnspecifiedOracle HCM Cloud470 RatingsScore 7.8 out of 101>a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'<trScore algorithm: Learn more.>/a<Oracle HCM Cloud Reviews>a href='https://www.trustradius.com/static/about-trustradius-scoring#question3' target='_blank' rel='nofollow'<Customer Verified: Read more.>/a<Oracle HCM Cloud470 Ratings>a href='https://www.trustradius.com/static/about-trustradius-scoring' target='_blank' rel='nofollow'<trScore 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alter or remove reviews. Here's why.March 27, 2019Oracle HCM Cloud Review: "HCM Consultant / Implementor"Keely MurphyStaff ConsultantBaker Tilly Virchow Krause, LLPManagement Consulting, 1001-5000 employeesScore 6 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeI implement HCM cloud to my clients. I generally find it is a good product but it has a few bugs, and they are hard to fix. The SR process takes forever. Also, there is not enough documentation on the upgrades, so with each upgrade we have to do our own testing. The HCM cloud software streamlines the HR processes into one system which has shifted a huge administrative burden off of our clients. This is a one stop shop for end users, and with proper change management it will be a wonderful cloud based system for the organization.Pros and ConsIntegrating the modules together, the system knows what items are associated with each other and then works properly to talk to each other.Communicating about environment upgrades and downtimes, Oracle sends out many emails on when the test vs. prod environments will be upgraded and what the key changes are.Promote the brand (OOW, MBX, etc.)- Oracle hosts many conferences throughout the year to bring clients and partners together to continue the growth of the organization and cloud based systems.EditSystem bugs and enhancement requests, it is often difficult to tell our clients that there is a bug that oracle is working on because we often have no insight into when this will be fixed or WHY the issue occurred and I have noticed the client becoming frustrated.Screen and image size in video players (OLC)- in the Learning cloud we have seen issues with the clients content not displaying correctly and it is usually unclear how to fix this and what the best practices are for the content that is being loaded into OLC.Search engine often only works then you type last name, first name- often when searching in HCM on an employee, it is hard to find that person with just a simple first name search. Many times, I have to search by the last name, first name to find the user - which is unclear to an end user.Likelihood to RecommendWorks at old fashioned government organizations, doesn't work well with start ups coming from Bamboo HR. For example, start ups use a new cloud based system that is less expensive but they don't set it up properly so I have found it hard to get all the necessary data from this system. The HCM is great for government contractors because it is FEDRamp approved.Impact on Operational EfficiencyYes as it streamlines HR into one place - many clients, by the end of the implementation, are very happy with the solution and know that with the proper change management it will be the best end user experience moving forward. I struggle when clients do not buy the full suite of the HCM cloud because it feels like there are still too many systems that need to talk to each other.Read Keely Murphy's full reviewMarch 21, 2019Oracle HCM Cloud Review: "Happily new to the Cloud"Lisa HarrisVP Payment Services & Financial SystemsTrueBlueStaffing and Recruiting, 5001-10,000 employeesScore 10 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe implemented Oracle Cloud products as of December 31, 2018. We implemented HCM, ERP, and EPM. We are a global company and are using the various modules for all of our employees throughout the world. The initial problem we were trying to solve was a replacement of our Finance system as we were using a product that was old, out of date, and no longer supported. As we started to research modern ERP systems, it became clear that we could also replace our budgeting systems, and our payroll system. So the approach quickly changed to multi pillar. As a result of the go live of Oracle, we were able to sunset around 20 different systems that we were using to solve these business problems.Pros and ConsPayroll is easy to use and works well. Workflows have automated many processes.HCM is fully integrated - Core HR, onboarding, absence management, time and labor, payroll, learning, and hierarchy. This same data is shared across ERP and EPM.New digital assistants will make it very easy for our employees to get quick answers 24/7 to their problems.Mobile enabled pages make it easy to access all the functions of Oracle Cloud anywhere in the world (I logged in while on vacation in Spain).EditDelivered Oracle reports don't have enough parameters to limit data that is returned. For example, for our payroll, the Payroll Costing report for one pay period returns too many rows for Excel.OTBI is both easy to use and hard to use. If you don't know the exact field name, you cannot report on it.Workflows are overly complicated to createPayroll is not a part of HR in our company. The delivered roles and functions are making it difficult for us to get our jobs done - we are having to give inappropriate HR roles to payroll, and right now, HR cannot see ANY payroll data (even though roles are split between user roles and data roles - we cannot get this to work).Of all things, direct deposit maintenance is overly complicated. Easy to create an initial account - very hard to update it (this is true for both users and payroll).Likelihood to RecommendVery well suited for permanent employees in global organizations.Not well suited for contingent workforces as you have to pay for Oracle licenses for all of them. We are looking at moving some of our temporary associate payrolls to Oracle Cloud, but the license cost is prohibitive (even though they will not have access to most features within Oracle).Impact on Operational EfficiencyFor some departments, it has made us much more efficient. For example, we are looking at headcount realignments in the payroll area due to the efficiencies we have gained. In other departments, they have had to add headcount as there are more steps for some processes.Overall, we have also had to create a new team to manage innovation and quarterly updates. While that was an unexpected cost, we are happy that Oracle is delivering frequent innovations. We are looking forward to Oracle improving the quality and completeness of the documentation of the quarterly updates.Read Lisa Harris's full reviewMarch 21, 2019Oracle HCM Cloud Review: "Cloud and Retail. Is it a match for you?"Steve JordanManager - Global HRISAmerican Eagle OutfittersRetail, 10,001+ employeesScore 7 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe are currently using HCM Cloud across our whole organization. We are live in 5 different countries (US, Canada, Mexico, Hong Kong, and China). We currently utilize the system in our Stores, Corporate, and Distribution centers. MSS is utilized by our stores and ESS across all the areas. This product allows us to centralize all of our employee data in one central location. Allows us to control and secure our data access more easily, makes reporting more efficient, and allows us to streamline our processes by making them consistent across each country.Pros and ConsStreamlines processes by making them consistent but also allows ability to slightly change those processes based upon business units needs.With new newsfeed capabilities making system access more readily available to all users on all devices.Allows for upgrades which allows end user to be on the most up to date product but now incorporates features to truly let you determine when to release those features.EditWith Oracle being a database company you would think integrations would not take so long to run but they do.Need to allow more functionality within OTBI. Shouldn't limit OTBI reports to 25k rows when needing to send data to customers. Makes it difficult to have to write those types of reports via HCM extract or BI report.Learn needs to continue to mature to compete with other LMS systems.Likelihood to RecommendGreat for core HR functionality and bringing companies that have global locations together. It would be less appropriate for companies that do not want to consolidate all of their separate systems.Impact on Operational EfficiencyCan't fully explain since I wasn't involved with initial implementation.Read Steve Jordan's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Oracle Taleo Talent Management"Joshua PekarHRIS ManagerPenske Truck LeasingTransportation/Trucking/Railroad, 10,001+ employeesScore 7 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe utilize HCM cloud across our organization in US and Canada and are working through an implementation in Mexico for recruiting, talent management, and organizational learning. We hire over 12,000 associates every year, complete 20,000 + goal plans and reviews. We currently have 20 different review processes that are represented in our performance management piece. We utilize learning to deploy various types of training content, complete compliance training, onboarding, and integrate course completions for many other vendor training which is critical to our business.Pros and ConsTaleo Learn makes communicating and tracking requirements easy.We are able to hire a high volume of associatesWe can have many customized performance plans.EditReporting out of Taleo Learn is difficult.Automation of performance plans in Taleo performance is difficult given our complexityHistoric performance records of terminated associates can be difficult to find due the the large number of previous associates records we haveLikelihood to RecommendThe cloud is well suited for keeping your data secure, not having to maintain on premise servers. It's also good to have regular updates pushed to your environments. The Taleo product is not well integrated together like the new HCM product is, but overall there are more benefits to the cloud than draw backs.Impact on Operational EfficiencyThrough pipeline requisitions we are able to recruit and fill higher turn over jobs, and using the candidate data we can track the length of hire throughout the process and identify bottle necks, we been able to integrate our data with other enterprise analytics tools. Our performance review processes have driven performance conversations and we have seen a direct impact on associate engagement.Read Joshua Pekar's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Oracle Fan"KEITH PRESSLEYVice PresidentAXA EquitableInsurance, 5001-10,000 employeesScore 10 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeAXA Equitable Holdings leveraging former parent company AXA Group Oracle HCM solutions for US Talent Review, Succession, and Recruiting (learning with Cornerstone and Performance with Towers). With our IPO completed last year, AXA Equitable Holdings embarked on a journey to separate from Group talent tools and create a local Oracle HCM platform to support our post IPO People Strategy. In December 2018, AXA Equitable Holdings purchased the following modules from Oracle:1) Core HR2) Career Development3) Performance Management and Goal Management 4) Compensation 5) Recruiting Cloud6) Enterprise Edition Platform as a ServiceThe above services will be implemented across 2019-2021 using a combination of agile and waterfall implementation methodologies.Pros and ConsHighly responsive sales orgHighly responsive success implementation management teamFuture proofing - Oracle keeps delivering new digital experiences through the platform (quarterly release updates)Voice of customer designFocus on business outcomes customer digital experiencesSecurityEditService desk - there's too much red tape to get technical assistance on issues. It feels like a "black box" where you can get bounced around a couple of times.Pricing - it's expensiveContract inflexibilityLikelihood to RecommendWell Suited for Organizations with disjointed solutions, lack of innovation, coupled with need to reduce cost of ownership and improve business outcomes. Lessfor Organizations not ready for transformationImpact on Operational EfficiencyWe have just launched our transformation journeyRead KEITH PRESSLEY's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Short and sassy"Beth ReynoldsControllerIthaca CollegeHigher Education, 1001-5000 employeesScore 8 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeHCM is being used by the entire organization.Pros and Consemployee self serviceOracle Consulting Services has been fabulous. Available all hours of the day and I can't say enough.Editmaking implementation easierLikelihood to Recommendwe just started using the HCM Cloud. We need more time to use before providing a full review.Read Beth Reynolds's full reviewApril 23, 2019Oracle HCM Cloud Review: "Oracle HCM is a great tool for maintaining employee information"Sreedhara MedapatiSenior Database AdministratorFrontier CommunicationsTelecommunications, 1001-5000 employeesScore 8 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeIt is being used across the organization. It stores the directory information of employees. The Goals and Performance cycle is being managed within this application.Pros and ConsDirectory and employee information at one source.Goal Management is used to set goals across the organization. Approvals chain can be maintained.Mobile Notifications are an excellent source of information.Annual appraisals are done through performance management.EditBenefits module needs improvement."Act As" proxy functionality should be enabled for performance management module for HR.Search functionality in the application could be improved to get accurate results for reports and metrics.Likelihood to RecommendOracle HCM is suited for small and large scale businesses where employee information can be accurately maintained. Oracle Benefits and Time and Labor modules can be improved a little bit to match the open enrollment scenarios.Impact on Operational EfficiencyYes, it definitely meets its purpose. Oracle HCM has removed the paper-based legacy systems, and because of cloud storage, the database administration is removed, improving efficiency.Read Sreedhara Medapati's full reviewDecember 21, 2018Review: "Taleo/Oracle HCM Cloud is good, but could use some updates"Adeline SteffenRecruiterCTG - Computer Task GroupStaffing and Recruiting, 501-1000 employeesScore 6 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeI am a recruiter. The recruiters at my company use it to look up job descriptions, save candidate information, and search candidates we have already logged in the system. It helps us keep all of our job and candidate information connected and organized. Our HR department uses it as well; they look up candidate information and assist with job offers and back ground check requests.Pros and ConsOrganization (allowing us to link candidates to jobs they are matched to)Making information searchable (such as job descriptions and candidate info)Keeping candidate history visibleEditIt is not very intuitive (I find I have to tinker with it a lot to figure out how to get it to do what I want)It is defiantly something you need a significant amount of training on before you are able to use it fluently (like when starting with a company that uses it)It has a very basic look to it. It seems outdated.I wish there was more customization available, to make it work best for what I am using it for.I wish you could open multiple jobs or candidates at the same time and switch back and forth between them.Likelihood to RecommendIf you have the time to train your staff on how to use it properly then it is good. I do feel it is outdated (looks wise) and could use a makeover and some new features. It could be made more intuitive, which might make it more competitive with comparable software on the market. And I would love to have it be smartphone friendly, or even have an app so that I could work with it on the go.Impact on Operational EfficiencyI feel that in keeps us organized so that increases efficiency but, it takes so much time to use and log everything correctly that it decreases efficiency. So in the end we may break even. Read Adeline Steffen's full reviewMarch 21, 2019Oracle HCM Cloud Review: "Good Early Results"Eric SabatiniHR Analytics & Performance Sr MgrCity of MemphisGovernment Administration, 5001-10,000 employeesScore 7 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe are in final stages of phased implementation across all organization for HCM except Payroll.Pros and ConsProcesses flow well.Keeps up with current trends and technology.EditCould be more simplified and user friendly.Modules like Taleo could integrate more directly into Global HR.Likelihood to RecommendIt is more challenging to use in Public Sector. For example, pay ladder functionality does not seem fully matured.Impact on Operational EfficiencyIt has allowed us to successfully automate more than we could before. Decreasing paper and tracking approvals creates large efficiencies. We are looking forward to deploying more mobile functionality.Read Eric Sabatini's full reviewMarch 20, 2019Oracle HCM Cloud Review: "The Future is Promising"Grae GrayProject ManagerNoble EnergyOil & Energy, 1001-5000 employeesScore 10 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeOracle HCM Cloud is a replacement of the current EBS on premise solution at Noble Energy across the whole organization. This is helping to address the current challenge of over customization. Additionally, Noble is looking to put their organization in a "continuous improvement" mode and Cloud will be foundational towards that effort.Pros and ConsCloud has a easy to use interface that is intuitiveCloud Recruiting is creating a better experience for applicantsThe configurability of the product allows the organization on the functional side to be more empowered to solve for business decsionsEditThe OnBoarding module is not fully mature and needs to be more focused on the pre-employment experiencePayroll needs to be available for more international countriesLikelihood to RecommendCloud is fantastic for an organization that is looking to modernize their HR and the way that HR conducts work. Cloud is not as good if the organization has too much unique requirements as customization is difficult and hard to manage overtimeImpact on Operational EfficiencyCloud has not brought huge effiicieny gains in process improvement but what it has done is force our Organization to stop the customizations which will lay the ground work for continuous improvementRead Grae Gray's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Oracle Fusion HCM"Mashariki DelotchProject ManagerAmerican Homes 4 RentReal Estate, 1001-5000 employeesScore 7 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe are currently implementing Oracle HCM cloud enterprise wide to fix the current HR issues with the current system. We currently do not have all of our HR systems integrated and feeding employee information to the necessary places. We have many manual processes in place. Some HR processes are not even currently being performed because of the labor intensive activities. We hope that this new HCM Cloud system will simply our processes, improve our employee experience and provide more analytics into our workforce.Pros and ConsMake the employee, manager and administrator activities easierProvide integrations between our payroll and core HR which we do not have not.Will improve our performance management system allow for each role to have a different performance management experienceImprove the recruiting and onboarding process removing many of the manual tasks that we are performing todayEliminating the swivel chair activities that we have to different systemsEditHave more integrations with other vendors such as Yardi, Plexus, EmpowerProvide more upfront clearer demonstrations of how the products workProvide a once person that can assist with providing product information during implementation. We have found that upgrades during implementation leave the partners struggling to explain to user how the changes will effect their current use of the product.Likelihood to RecommendOracle is well suited for a large company that has several employees globally. Less suited for a small company that needs to manage 2000 or less employees. Reason being some of the activities that are required are to advance for a company of that size. Or at least I don't think that Oracle does a good job at scaling to meet the a smaller companies needs.Impact on Operational EfficiencyWe are currently implementing this HCM Cloud. However since we are moving from manual practices such has spreadsheets and Access databases we are sure that many security and efficiency issues will be address with this product. We plan to use reporting to improve our employee retention and manage our workforce because all of that is done completely manually. Read Mashariki Delotch's full reviewMarch 20, 2019Oracle HCM Cloud: "Mansur's review"MansurAulamKhan KhalilOracle Cloud HCM Solution ArchitectCSCLegal Services, 1001-5000 employeesScore 8 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe have 26 different HR systems and we have one HR system which is Oracle HCM Cloud. We operate in 18 countries and all of our employees do use the same HCM system. We are able to do a better reporting, manage our talent better. We are also live with Compensation where we do the year end Comp Cycles salaries, bonus elements etc.Pros and ConsCore HRTalent ManagementAbsence ManagementCompensationEditTime and Labor - There is not an efficient way of time punching. The manager self-service is not that effective for time management.Payroll - Reporting on the payroll element could be improved.Compensation ApprovalsLikelihood to RecommendIt is well suited for a complete end to end Enterprise ERP systems. Especially when you operate in multiple countries this product is flexible , scalable.It has Onboarding Recruiting all in suite and that way it gives single UI user experience to the end users. I would say companies who want to cut their shared services cost, get to the latest technologies sooner than later.Impact on Operational EfficiencyYes we did benefit from Oracle HCM Cloud implementation. With the regular updates being pushed into the pods they are all up to date with the new features and functionalities with all necessary security enabled.Read MansurAulamKhan Khalil's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Thinking out of the box to build within the box"Peter ArrolloExecutive Business AnalystUniversity of WyomingHigher Education, 5001-10,000 employeesScore 8 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe are using HCM throughout the entire organization. It has given us the ability to uniquely identify particular groups of people within a diverse higher education environment. It's given us the ability to report on these groups quickly and efficiently.Pros and ConsReporting/AnalyticsPerson Data ManagementWorkflow approvalsEditSome workflow processes should be more robust with, performance and time & labor are examples.An option to change a future dated assignment date for new additional assignments.Ethnicity fields that are IPEDS compliant.Likelihood to RecommendOverall it's a great product for to manage people data. There are some higher education specific needs that are not found within HCM that we've had to come up with customized solutions.Impact on Operational EfficiencyWe just went live with our phase 1 modules in January which includes core HR. Many tasks currently take longer than they took prior to implementation but I feel this will change as people become familiar with the new processes and system functionality.Read Peter Arrollo's full reviewMarch 20, 2019Oracle HCM Cloud Review: "How ORACLE HCM feels cloudy."Katie ChisholmHRECFMGNon-Profit Organization Management, 501-1000 employeesScore 3 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeThe entire organization utilizes Oracle HCM for employee self service and manager self service to manage employment profile and benefits.Pros and ConsInterfaces well with OKTA SSOThe Directory Feature is helpfulEditNot user friendlyThe quarterly upgrade process is cumbersome for maintenanceWe have to rely on external support consistently to trouble shoot because the level of technical expertise required in house is not realistic for the size of our organizationLikelihood to RecommendIt is well suited to larger organizations that can maintain in house expertise. It is extremely costly to maintain the system effectively and the support from Oracle directly has been less than desirable. We have had significant challenges with the integrations with other systems, particularly ADP and our benefits modules.Impact on Operational EfficiencyWe have not experienced organizational efficiency. We have developed work arounds, double entry efforts and overall system maintenance issues that have resulted in a significant amount of additional work for our team.Read Katie Chisholm's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Early Stage of the Journey to the HCM Cloud"Steve AubergerExecutive Director of ApplicationsTTCEConsumer Services, 10,001+ employeesScore 8 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe have started to roll it our globally starting first with smaller countries. We manage all Master HR data within the product and it is the single source of truth for that data. We have 55k employees who mainly use it for self service related to personal and banking information. We have over 100% attrition so we are implementing this to give us some fluidity between people assignments as well as allow us to be more nimble when ramping up and down and moving agents from one line of business to another.Pros and ConsSimple, modern UIStreamlined navigation over legacy EBSExtracts are simple to use and configure for various purposes.EditThe integrations between other products (i.e. Taleo) are not as advertised both within HCM as well as ICS.Security is solid but very complex to understand and support seems to struggle with it as well.Likelihood to RecommendGreat for Global employee management especially when combined with the Finance cloud. Less appropriate for single entities with a small number of employees.Impact on Operational EfficiencyToo soon to tell.Read Steve Auberger's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Oracle HCM Usage"Don CrainIT DIrectorAdventist HealthHospital & Health Care, 10,001+ employeesScore 8 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe use Oracle HCM enterprise wide and it has allowed us better visibility and management of our workforce. Previously we used a legacy system (HRIS) that did not allow easy enterprise perspectives of our staffs or data related to managing our workforce. Today with Oracle we have all 25,000 employees in the system and are able to easily manage and view appropriate employee data to run our business.Pros and ConsAccessible everywhere (desktop, mobile)Notifications for employee approvals (changes)Managing compensationOrganizational structuresEditPayroll processing... The BI Jobs related to payroll take 4-5 times longer than our previous legacy systemLikelihood to RecommendCreating in-depth visibility and management of your workforceImpact on Operational EfficiencyBy moving to Oracle we were able to centralize support from 20+ sites into one unified locationRead Don Crain's full reviewFebruary 12, 2019Oracle HCM Cloud Review: "Easy Upgrade, Easy Wins"John PavariniOperations SupervisorChildren's Hospital ColoradoHospital & Health Care, 5001-10,000 employeesScore 8 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeAcross the whole organization for HR related functions - compensation management, benefits, talent acquisition, and workforce planning. Moving the system to a cloud-based platform eased the demand of a growing organization with ever-growing data storage and access needs. Oracle being a leader in the industry was a clear winner and a suitable upgrade to our other Oracle business software. Aiming to a data and analytics-driven model, the HCMCloud solution offered this. Opinions are that of my own and not reflective of my organization. Pros and ConsOracle based servers offering storage and ease of access...not overloading your own organization's servers to retrieve critical HR information.Streamline and modern appearance, and moving away from old archaic business software appearance.Ease of upgrade form current Oracle based business software.EditExperienced some compatibility issues with upgrades and moving over data. More our own organization's fault for delaying upgrade to cloud-based computing.As with all cloud-based systems, "hiccups" in load time or usage can occur during high volume periods.Large company that can create barriers to quick and immediate upgrades and fixes.Likelihood to RecommendAny large organization that needs a centralized hub of HR related data and systems will benefit. Bogging down of our older systems was occurring due to high use and years of talent and compensation related records. HCMCloud eased such system's pressures, and prepared our organization for the future growth and expansion of modern business systems.Impact on Operational EfficiencyYes, both with performance management, talent development, and benefit administration. These were both burdens to team members as well as too the system prior the implementation of HCMCloud. As critical components of team member engagement and workplace satisfaction we needed to streamline these annual efforts to support our employee base. HCMCloud made this more accessible and functional both to the individual as well as with leadership.Read John Pavarini's full reviewMarch 21, 2019Oracle HCM Cloud Review: "Starting our Journey to HCM"Leah MorCIO (Chief Information Officer)OrbotechElectrical/Electronic Manufacturing, 1001-5000 employeesScore 9 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeCurrently it is used by managements all around our global company (I.e in Asia Pacific, US, EU & Israel)It supports the compensation process.The main benefit was to have one global system that keeps history.Pros and ConsRelatively simple user experienceThe ability to work with XLS & then upload it - for people who are traveling in places with poor communicationEditHandling global companies with different currenciesPersonalizationThe quality of new releasesLikelihood to RecommendCompensation module is a simple one. When we will complete core HR we will be able to provide more valuable answers.Impact on Operational EfficiencySure it did [increase operational efficiency].In this case other on-prem alternative would have involved Tech department as well. It could have led to additional hardware & maintenance cost.Same goes for implementation efforts. Since it's in the cloud, less homemade customizations. simpler training. can be taken out of the box.Read Leah Mor's full reviewMarch 21, 2019Oracle HCM Cloud Review: "My Experience with Oracle Cloud HCM"Francois LemieuxSenior ManagerHitachi ConsultingInformation Technology and Services, 5001-10,000 employeesScore 10 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeUsed by HR Department and Employee self service is also active.Big Plus: Data Integrity and minimize IT ExpensesPros and ConsSecurity is flexible. You can use basic security or customize it.FlexibilityIndustry Best Practices are a built in function of the standards in the industry, especially for the business processes.Always up to dateEditmore flexibility on the screens layoutLikelihood to Recommendvery well integrated and really easy to create interface. Reports are also good and easy to rpoduceImpact on Operational EfficiencyThe fact that all the data is consolidated avoids lots if integrity issues Read Francois Lemieux's full reviewMarch 20, 2019Oracle HCM Cloud Review: "DoD Leading the way with HCM"Dianna SpencerBellSupervisory Business AnalystDept of the Air ForceGovernment Administration, 10,001+ employeesScore 10 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeCurrently using EBS and in the process of transitioning to HCM. Although we have not yet implemented it, I am already quite familiar with it. It allows us to provide a better experience for our customers and eliminate many of the cumbersome manual processes that are in existence e. Additionally it provides expanded self service capabilities for our users(employees, managers and HR professionals.Pros and ConsEase of navigation for usersExpanded self service capabilities resulting in the reduction of inquiries to our Call CenterEditIn the module that houses benefits information, there is a need for a retirement calculatorLikelihood to RecommendCan manage the entire employee life cycle from onboarding to separation from one platform.Impact on Operational EfficiencyWay too early to tell, but the prospect looks goodRead Dianna SpencerBell's full reviewMarch 20, 2019Oracle HCM Cloud Review: "The Power of HCM Cloud"Brian ShermanVice President, PeopleDelta Dental of CaliforniaHospital & Health Care, 1001-5000 employeesScore 9 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeHCM Cloud has been deployed across our enterprise. The cloud solution empowers our employees and leaders to access data and complete critical work anytime, anywhere. With the power of HCM cloud we are able to deliver relevant data to our people leaders that allows them to make data driven business decisions, saving time and money. For our employees the mobile capability available in HCM cloud has empowered them to complete critical tasks at their convenience.Pros and ConsMobile experienceAutomated workflows and system intelligenceFlexible, configurableEditTelephony and chat available as a native function within HR HelpdeskEnhanced functionality of onboarding needs additional developmentTalent Profiles connecting to third-party data (i.e. import your LinkedIn profile)Likelihood to RecommendHCM Cloud is scalable for any organization however the power of the system may be more than a small business (less than 1,000 employees) truly needs.Impact on Operational EfficiencyHCM cloud has allowed our employees and leaders access to the data and critical tasks they need to complete for their work anytime, anywhere. This allows them to more efficiently complete these tasks when convenient for them.Read Brian Sherman's full reviewMarch 20, 2019Oracle HCM Cloud: "hcm review"Raemsh PottacorsairInformation Services, 501-1000 employeesScore 9 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeIt is centralize global hr system world wide to make one system of truth for all different needsPros and Consall in one system for all processes where we used to use Excel, now global employees can accomplish everything in one system.Easy to use - compensation plans, talent management, it's good for the users of the system once they learn how to use it.Editui standards. each part of the application is a bit different, and it sometimes changes with each upgrade which can be hard for my users.performanceLikelihood to Recommendone global system for all different scenarios for employee, hr and management needsImpact on Operational EfficiencyIn process of evaluating as we went live with system and recently.Read Raemsh Potta's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Oracle Fusion HCM"Pinky MakdaniIT Pillar Manager HRMcdermottOil & Energy, 10,001+ employeesScore 9 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeWe are live with talent and compensation modules in Oracle Cloud and Finance R2P (requisition to pay). We are starting journey of implementing Core HR, OTL, Learning, R2R in phased approach. One single source of truth and integrated systems for recently merged companies (cB&I and McDermott)Pros and ConsSingle source for all goals, performance evaluation and compensationAll PO, Expense reports, Purchase Reqs in single systemEditThe single line description in monthly patch release is not user friendly and needs to have more description for team to understand which problem is being fixed and resolved in the patchesBe able to close multiple performance documents at a time. we need this featureBe able to extend performance document datesRestricting Application HCM DB in BI reports data model not to query sensitive data like salary. Allow access to be given only to those who have HR related rolesLikelihood to Recommendcost effective and update to date technology and digitally savvyImpact on Operational Efficiencyit has achieved efficiency, as a single source of truthRead Pinky Makdani's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Oracle Fusion HCM"Amy StoneSr HRIS AnalystBlackboardE-Learning, 1001-5000 employeesScore 7 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeHCM cloud is being used by the entire organization for our core HR, goals and performance, absence management and HR reportingPros and ConsStoring our HR data in a way that it is easy to report onEasy for employees to request absenceGreat real time reporting functionalityEditEase of customizationLikelihood to RecommendIt is not super intuitive for the average userImpact on Operational EfficiencyEmployees are able to manage their own absence records and personal information without reaching out to HR. All employee transactions are sent through approvals and have the correct documentation for complianceRead Amy Stone's full reviewMarch 20, 2019Oracle HCM Cloud Review: "Oracle Fusion HCM"Susan AndersonSr HRIS SpecialistITC Holdings Corp.Utilities, 501-1000 employeesScore 9 out of 10Vetted ReviewVerified UserReview SourceUse Cases and Deployment ScopeUsed across the organization for core HR, Benefits, Absence, Payroll and Time & Labor. ESS - more access for employees, MSS - leader initiated transactions, user experience overallPros and ConsCustomer Connect is a great resourcePushing users to be able to self serveEditOracle update and patch documentation - it provides what's coming but isn't always specific enough on when it's coming.Turning some features on like new UI breaks other functionality already existing like Document Records.Likelihood to Recommendnone at this timeImpact on Operational EfficiencyWe've see some efficiency with workflow but still on classic UI. Expect to see more with newfeed UXRead Susan Anderson's full review1


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Moneris Solutions Review

Moneris Solutions Review


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CompareProcessing $1,000 per month or less in card payments? Visit Square for the best deal Date Established2000LocationToronto, ONProsInterchange-plus pricing available upon requestFull range of hardware available for rent or purchaseExtensive online knowledgebaseConsThree-year contract$300 early termination fee per locationPoor customer supportOverviewMoneris Solutions is a Canadian-based merchant account provider and processor headquartered in Toronto, Ontario. The company was formed in 2000 from a merger of the payment processing divisions of the Bank of Montreal and the Royal Bank of Canada. This merger also included the Harris Bank in Chicago, Illinois, and the company operated in the United States as Moneris Solutions USA until just last year. In December 2016, Vantivacquired Moneris Solutions USA, and all US accounts were transferred to that company. Today, Moneris Solutions operates only in Canada. Canadian merchants probably already know that Moneris Solutions is the largest processor in their country. There are some advantages to this, as the company has more investment capital, wider margins, and more experience in the industry than its smaller competitors. Depending on the nature and size of your business, this could translate into lower processing rates and a wider variety of services. At the same time, large processors generally don’t do a very good job of tailoring their services to the needs of small businesses, and Moneris is no exception in this regard. The sale of the United States side of Moneris’ business seems to have had a positive effect on the company’s overall reputation. Naturally, we’ve seen a significant drop in the overall number of complaints against the company, although many older complaints are still posted online. Moneris also seems to have dropped the liquidated damagesclause from its contracts, which previously was one of our biggest criticisms of the company. Nonetheless, we’re still concerned about the company’s early termination fees, automatically renewing contracts, and reputation for poor customer service. While we have objections to some terms in the company’s contracts, overall Moneris Solutions rates a respectable 4 out of 5 stars. They’re a decent choice for a mid-sized or larger Canadian business. However, you’ll certainly want to negotiate the best rates and terms you can get and review your contract thoroughly before you sign up. Canadian merchants don’t have as many providers to choose from as their US counterparts, but Moneris isn’t the only game in town. For smaller businesses – or any company looking for a more transparent sales experience, we highly recommend National Processingas the best all-around provider north of the border. It pays to shop around, but most merchants will find the overall cost of maintaining a merchant account to be lower with National Processing. Our Top Picks For Credit Card Processing headingFattmerchantPayment DepotNational ProcessingDharmaSquare Fattmerchant Payment Depot National Processing Dharma Merchant Services Square Payments Get Started Review Get Started Review Get Started Review Get Started Review Get Started Review Availability US-based businesses US-based businesses US-based businesses US-based businesses US, Canada, UK Serves in-store, mobile, and eCommerce ✓ ✓ ✓ ✓ ✓ No early termination fee ✓ ✓ ✓ ✓ ✓ Compatible with most POS systems ✓ ✓ ✓ ✓ Rate matching / negotiable  ✓ ✓ ✓ ✓ High-quality sales and customer service ✓ ✓ ✓ ✓ Pricing model Interchange-plus Interchange-plus Interchange-plus Interchange-plus Flat rate Monthly fee $99 $49 $10 $20 $0 Standard retail rates 0% + $0.08 markup 0% + $0.15 markup 0.20% + $0.10 markup 0.15% + $0.07 markup 2.75% total Good for higher volume (over $20K/month) ✓ ✓ ✓ ✓ Good for mid volume ($10K-20K/month) ✓ ✓ ✓ ✓ Good for lower volume (under $10K/month) ✓ ✓ ✓ Get Started with Fattmerchant Payments Get Started with Payment Depot Get Started with National Processing Get Started with Dharma Merchant Services Get Started with Square Payments Each of these companies provides excellent customer service and fair pricing. See more data Table of Contents Products & ServicesFees & RatesContract Length & Early Termination FeeSales & Advertising TransparencyCustomer Service & Technical SupportNegative Reviews & ComplaintsPositive Reviews & TestimonialsFinal VerdictProducts & ServicesMoneris Solutions offers an enormous number of products and services ranging from merchant accounts to office supplies. You can check out their full range of hardware products at ShopMoneris.com. Here’s a rundown of the company’s primary offerings: Merchant accounts: Moneris is a direct processor, meaning they process all transactions in-house rather than relying on a third party for this service. For merchants, this means you’ll always be dealing with the same company, especially when you’re faced with a held transaction or an account freeze.Credit card terminals: The company offers several countertop and wireless terminals, but doesn’t disclose much information about specific models or capabilities. Some models support NFC-based payment methods, such as Apple Pay or Android Pay. EMV-compliant terminals are also available, and should be your minimum requirement if you’re buying new equipment. While pricing is not disclosed, you should have the option to purchase your equipment Because EMV credit card machines in Canada are not designed to be re-sold, Moneris will rent you an EMV terminal if you don’t want to incur the expense of buying one. While you’ll have to return your equipment at your own expense if you close your account, this is still a much better deal than leasing a terminal.Point-of-sale (POS) software: Rather than partner with dedicated POS terminal providers, Moneris offers their proprietary PAYD Pro Plus® This app-based system turns your iPad into a fully-featured POS terminal (Android tablets do not appear to be supported). You’ll get all the standard features you would expect, including payment processing, customer information management, and inventory tracking. Licensing fees start at $44.95 per month for a single user. This plan supports up to 1,000 products. For $74.95 per month, you can have up to ten users and track up to 10,000 products. For larger businesses, $99.95 per month allows you to have up to 100 users and track up to 50,000 products. To accept payments, you’ll need to rent either the wired iPP320 pin pad or the e355 wireless pad. Either model will cost an additional $19.95 per month. Retail merchants should also consider an optional retail kit. Pricing starts at $749 for an iPad stand, cash drawer, and receipt printer. Note that this doesn’t include an iPad! Installation and on-site training plans, while optional, start at $700. These costs all add up to a very significant expense, and you’ll want to evaluate the pros and cons carefully before investing in a Moneris POS system.Payment gateway: For eCommerce merchants, the company offers their proprietary Moneris Gateway. You can set this up for access via a hosted payment page or use their API to integrate it directly into your website. Note that the latter option will usually require the assistance of a developer unless you have the requisite coding skills. The Moneris Gateway includes all the standard features you would expect in a payment gateway, including a Vault to store recurring customer data, shopping cartintegration, tokenization for security and PCI compliance, and support for Level 2 and 3 payment processing data. There’s also a virtual terminalthat can be used with or without the gateway.Mobile payments: If you need to process on the go, Moneris can set you up with their PAYD® mobile processing system. This setup consists of the free PAYD app and a magstripe card reader that plugs into your smartphone’s (or tablet’s) headphone jack. The PAYD app is compatible with both iOS and Android. Your first card reader is free, and additional readers are available for $29.95 each. If your phone doesn’t have a headphone jack, or you want to add some extra payment features, you’ll need to upgrade to PAYD Pro, which uses the e355 PIN Pad. This EMV-compliant unit connects via wireless or Bluetooth, and rents for $19.95 per month. Processing rates for the PAYD system are fixed at 2.65% for card-present transactions and 2.85% + $0.15 per transaction for card-not-present sales. Users of the basic PAYD system are limited to processing $5,000 per month in transactions. While there’s no monthly fee for using the PAYD system, you will need to have a merchant account through Moneris, and this usually comes with a monthly account fee.In addition to these basic services, you’ll also find online reporting via the company’s Merchant Direct website and a developer portal where you can access API SDKs and software documentation. Fees & RatesOne advantage that Canadian merchants enjoy is that the Canadian government has issued an official Code of Conduct for the Credit and Debit Card Industry in Canada, which aims to protect businesses from some of the more unscrupulous practices that are common within the credit card processing industry. Although it isn’t legally binding, Moneris has pledged to abide by the Code and provides a Code of Conduct Complaints Resolution page on their website where merchants can file complaints. Major provisions of the Code include the following: Clear information regarding fees and ratesA minimum of 90 days’ notice of any new fees or fee increasesThe ability to cancel contracts without penalty should fees rise, or new fees be introducedNew tools to promote competition, particularly the freedom to accept credit payments from a specific network without the obligation to accept debit payments and vice versaDespite this commitment, Moneris discloses very little specific information about rates or feeson their website, so you’ll have to obtain a quote from them to get an idea of what your costs will look like. They do provide an Interchange FAQ, but that’s about it. Like many other providers, Moneris appears to offer a combination of interchange-plusand tieredpricing plans. Processing rates will vary depending primarily on your average monthly processing volume and are negotiable. Don’t blindly accept the first quote that you are offered! You should also explicitly ask for interchange-plus pricing, although newer businesses with little or no processing history might not be able to get it. Moneris also reveals very little information about account fees. While these fees are also negotiable, you can expect to pay a monthly account fee, a gateway fee (if you need the payment gateway), equipment rental fees, and possibly PCI compliance fees. Other incidental fees might include Address Verification Service (AVS) fees, chargeback fees, and others. As always, it’s critically important that you thoroughly review all contract documents before you sign up. We’ve also seen reports of Moneris charging some merchants as much as $300 in application and account setup fees. Do not accept this when setting up your account. They’re mostly junk fees and can usually be waived if you insist on it. Contract Length & Early Termination FeeMoneris posts the Terms and Conditionsof their merchant accounts on their website, so it’s a good idea to review this document before contacting their sales department. According to the latest version, the following conditions apply: 17.1 Term (including Renewal Terms). The Initial Term of the Agreement will begin on the Effective Date and will continue for 3 years and the Agreement will automatically renew for successive Renewal Terms of 6 months each unless any party notifies the others at least 90 days before the end of the Initial Term or Renewal Term, that it wishes to terminate the Agreement, such termination to be effective at the end of the Initial Term or Renewal Term, as the case may be. As used in the Agreement, “Term” means the Initial Term and any subsequent Renewal Terms. While three years is the industry standard for an initial merchant account contract, the automatic renewal period of only six months is shorter than most providers will offer you. At the same time, requiring 90 days’ notice to cancel means that you’ll have to pay close attention and submit the necessary documentation to close your account long before your contract expires. Note that you might be able to negotiate a waiver to the three-year term entirely, in which case your contract would effectively be month-to-month. Moneris also charges a “deactivation fee” (i.e., an early termination fee(ETF)) of $300 per location if you close your account early. Again, you can sometimes get this fee waived if you negotiate firmly when setting up your account. If you’d prefer not to have to deal with lengthy contract terms or early termination fees at all, we recommend that you take a look at National Processing. They offer month-to-month contracts to all their merchants, and they never charge an ETF. Sales & Advertising TransparencyMoneris Solutions’ website is impressive. It’s one of the most thorough, polished, and generally good-looking sites we’ve seen from a payment processor. The site presents a ton of useful information, including an in-depth knowledgebase with guides to the company’s equipment and software. It’s not perfect, however, as very little pricing information is disclosed. While a few fixed costs (such as terminal rental fees) are disclosed, there’s no mention of processing rates or account fees. Moneris does provide a copy of the Terms and Conditionsthat apply to all merchant account holders, however, and a few of the standard fees are buried in the fine print of this document. Unfortunately, the site also features a number of sales gimmicks designed to entice you into signing up for a Moneris merchant account. In the merchant services industry, these kinds of “freebies” are never really free. There’s always some fine print (disclosed or not) that limits the value of whatever reward is being offered, making the offer far less valuable than it appears. For example, Moneris is currently promoting an offer where you can get a rebate of up to $500 if you sign up for an account. Although they note that this rebate does not apply to Moneris PAYD® products, other caveats are not disclosed. You can rest assured that a merchant would have to process a very high amount in transactions to get the full $500 rebate. In most cases, your rebate, if any, will be much smaller. Moneris also touts a free trial period, but doesn’t provide specifics. Since your three-year contract begins the moment you sign up, it’s a safe bet that you won’t be able to process any live transactions during this trial. At best, you’ll be able to log into your account and play around with some of the reporting features. That’s about it. The bottom line is that you shouldn’t be fooled by any of these gimmicks. There will always be a catch, usually buried in the fine print of your contract documents, that lessens or eliminates the value of the offer. Moneris Solutions also has a robust presence on social media, with accounts on Facebook, Twitter, and LinkedIn. These accounts are updated fairly often and are mostly used to publicize the company’s blog. Their YouTube channel includes dozens of videos, including testimonials, equipment tutorials, and educational clips. Videos are in both English and French. Customer Service & Technical SupportMoneris offers 24/7 customer support by phone or through their Merchant Direct Secure Message Center. You’ll also find a wide range of manuals, troubleshooting guides, installation instructions and so on through their Support page. This knowledgebase is very impressive, and one of the better ones we’ve seen. You can also contact customer service via Facebook or Twitter. While this is a novel way to provide support and can save you from having to wait on hold for a long time on the telephone, we’re not sure it’s all that useful for solving complex problems. Unfortunately, we’ve seen quite a few complaints from merchants alleging they received poor customer service from Moneris. This is a common problem among many of the larger processors, who simply don’t put the resources into hiring an adequate support staff and providing them with the necessary training to do their jobs properly. Our recommendation is to make every effort to resolve your problem using their knowledgebase before you try to contact their customer support. Have you worked with Moneris Solutions? Feel free to leave us your review. Don’t forget to read the user review and comment policy. Negative Reviews & ComplaintsDespite its size, Moneris Solutions is not accredited by the BBB. The company currently has a B rating, with 27 complaints filed within the last three years. Six of those complaints were filed within the last twelve months. The company also has nine reviews posted with the BBB, and all nine of them are negative. Note that these complaints and negative reviews are all from the company’s Canadian office. Additional complaints from the company’s Illinois office are still posted, but it’s now listed as no longer being in business. Ripoff Report shows an additional 32 complaints dating back to 2006. Note that many of these complaints are for the old American office. In reviewing these complaints, you’ll want to focus on those for the Canadian office, as the company apparently had different business practices in the United States than it did in Canada. For a company that processes more than 3 billion credit and debit card transactions a year and serves over 350,000 merchant locations across North America, this complaint volume is actually better than average. Moneris also responded to almost all their BBB complaints, usually offering refunds or trying to resolve the situation appropriately. Issues that came up frequently included the following: Nondisclosure of early termination fees: As with most payment processors, the number one complaint you’ll see has to do with allegedly undisclosed early termination fees. You don’t have to worry about this, of course, since you will make sure to bring this up in negotiations and you will not sign the contract until their ETF clause is amended to your satisfaction – right?Liquidated damages: Many merchants also have complained in our Comments section and on other review sites about being charged liquidated damages as a part of their early termination fee. For some merchants, this translates into thousands of dollars owed upon closing, which Moneris automatically takes from their accounts. Some complaints assert that these damages are equal to the three highest months of processing fees combined, with a bottom limit of $250. This practice seems to have been limited to the American office, and is no longer an issue.Undisclosed automatic renewal of contract: Again, this comes up with a majority of processors. It happens for two reasons. First, it occurs because auto-renewal is the industry standard and 95% of processors have this as part of their standard merchant agreements. Second, it happens because many sales agents just want to get you signed up while disclosing as few potential sticking points as possible. The problem is that unsatisfied merchants are waiting patiently for the three-year contract to be up so they won’t have to pay the termination fee. They wait and wait and then when it’s time for the contract to expire they call to cancel only to find out they are stuck for another six months. In case you were wondering, this makes merchants very angry. While I understand why they do the auto-renewal (it saves them time and makes them money), Moneris needs to do a much better job of informing their merchants about it.Poor customer service: A few merchants have complained about dealing with rude customer service reps, especially when it comes to handling more complex problems. I’d like to hear some more opinions on this, as it’s difficult to tell based on a few anonymous complaints. If you’ve dealt with Moneris Solutions’ customer service department, please let us know how you’ve been treated. Authenticated reviewswill, as always, be heavily considered in future updates.Positive Reviews & TestimonialsAlthough it’s not easy to find, Moneris has a nice section called Success Stories on their Insights blog which features testimonials from some of their more-satisfied customers. Rather than the usual quick blurb that most processors provide, these are in-depth articles and videos showing how customers are using Moneris products and services in the day-to-day operation of their businesses. While any testimonial featured on a company’s website is naturally going to be very one-sided, it’s nonetheless an impressive presentation. You’ll also find a few testimonials on the company’s YouTube channel and scattered throughout their website. If you’ve had a positive experience with Moneris Solutions, please feel free to tell us about it in the Comments section below. Final VerdictMoneris offers an impressive lineup of products and services. They provide just about every kind of hardware and software you would need to run either a retail on online business. However, their lengthy contracts and hefty early termination fees bring them down a notch. Their failure to disclose essential contract terms – either verbally or on their websites – lowers their score even further. Like so many other large processors, Moneris’ pricing and contract terms are geared more toward large businesses, rather than small startups. Pricing for their iPad-based POS system is particularly eye-popping. We’re glad to see that they offer equipment rentals rather than leases, but this appears to be mostly because EMV-compliant terminals cannot typically be resold in Canada. We still recommend buying your equipment outright, as this will be more cost-effective in the long run. The Code of Conduct imposed on Moneris by the Canadian government also seems to prevent some of the unethical business practices that are so common amongst American providers. As it stands, Moneris Solutions earns a rating of 4 out of 5 stars. This is a higher rating than we’ve given them in the past, and the improvement is mostly due to the divestiture of their American division. Be wary when reading complaints and reviews about Moneris, as many of the older complaints don’t specify whether the merchant was dealing with the American or Canadian side of the company. While Moneris rates as a better-than-average processor, it’s not the best choice out there. For Canadian merchants, we highly recommend National Processing, a company that provides the best overall combination of pricing and service of any Canadian-based provider. You can also check out our article The Best (and Worst) Canadian Merchant Account Providersfor some other recommendations. Our Top Picks For Credit Card Processing headingFattmerchantPayment DepotNational ProcessingDharmaSquare Fattmerchant Payment Depot National Processing Dharma Merchant Services Square Payments Get Started Review Get Started Review Get Started Review Get Started Review Get Started Review Availability US-based businesses US-based businesses US-based businesses US-based businesses US, Canada, UK Serves in-store, mobile, and eCommerce ✓ ✓ ✓ ✓ ✓ No early termination fee ✓ ✓ ✓ ✓ ✓ Compatible with most POS systems ✓ ✓ ✓ ✓ Rate matching / negotiable  ✓ ✓ ✓ ✓ High-quality sales and customer service ✓ ✓ ✓ ✓ Pricing model Interchange-plus Interchange-plus Interchange-plus Interchange-plus Flat rate Monthly fee $99 $49 $10 $20 $0 Standard retail rates 0% + $0.08 markup 0% + $0.15 markup 0.20% + $0.10 markup 0.15% + $0.07 markup 2.75% total Good for higher volume (over $20K/month) ✓ ✓ ✓ ✓ Good for mid volume ($10K-20K/month) ✓ ✓ ✓ ✓ Good for lower volume (under $10K/month) ✓ ✓ ✓ Get Started with Fattmerchant Payments Get Started with Payment Depot Get Started with National Processing Get Started with Dharma Merchant Services Get Started with Square Payments Each of these companies provides excellent customer service and fair pricing. See more data BioTwitterLinkedInLatest PostsFrank KehlFrank Kehl has been writing about merchant services, payment gateways, and international money transfer services since 2015. He has a Bachelor of Science degree from Penn State and a Juris Doctorate from the Ventura College of Law. After a long and enjoyable career of traveling around the world as an Air Force navigator, he’s comfortably settled down in the wine country town of Paso Robles in California’s scenic Central Coast region. He enjoys reading, photography, hiking, and numerous other outdoor pursuits.@fjkehl2Latest posts by Frank Kehl (see all) The True Cost of Debit Card Transactions- March 29, 2019 What Are Interchange Fees For Credit Card Processing?- February 12, 2019 What Is AVS For Credit Card Processing?- January 25, 2019 How To Choose An eCommerce Merchant Account- January 17, 2019 The Best CBD Oil Merchant Account Providers- January 7, 2019 To learn more about how we score our reviews, see our Credit Card Processor Rating Criteria.Show moreShow lessLeave a comment86 Comments Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered. ann ;oeweMarch 11, 2019 at 10:22 am Organization Name: bond technologies Inc This company own me 430.85 and no help as they been debiting my account and nothing could stop them. Calling Philippines useless. Please do not deal with them. Nobody will tell you where they are located or who to get in touch with. 1 Organization Name: bond technologies Inc ReplyBrenda Eves December 27, 2018 at 9:45 pm Organization Name: Sure Serve Court Services Absolutely the worst and faceless customer service I have ever experienced.No information provided or which client is involved or bank.Highly recommend you shop this market before you decide on a provider. 1 Organization Name: Sure Serve Court Services ReplyDarlene PillarAugust 25, 2018 at 8:46 am Organization Name: Alluring lashes There is NO contract NO cancellation fee 5 Organization Name: Alluring lashes Replysteven July 3, 2018 at 2:23 pm Organization Name: BNI We’re trying to use the Moneris Payd pro device for accepting credit and debit and it’s such a pain in the ass process to setup. Once we got it set up the machine is very inconsistent and we have a hard time getting it to communicate with the cellphone and it pretty much becomes useless. The device sucks. I don’t recommend it. Using Square is way easier to use and setup even if it doesn’t accept debit. 1 Organization Name: BNI ReplyVladimir Vladimirski May 2, 2018 at 1:11 am Organization Name: Elite Appliance Repair Would not recommend their service to anyone stay away from them they will hold your money and put blocks on your account every week or when they will feel like. They will hold thousands of dollars of your hard earned money. 1 Organization Name: Elite Appliance Repair ReplyFred ZietzFebruary 17, 2018 at 1:47 pm Organization Name: Dr. Fred Zietz I was with BMO Harris (from Canada) and they recommended Moneris and stated that I would save about $250 per year on fees. I was given a 2 year contract. When I sold my company in the middle of last year, Moneris sent me a notice of a $2650 termination fee. Never saw this and was NOT told about this on signing up. We are currently fighting the fee and was offered a fee of half if I paid immediately. Now it is at a collection agency and we will go to court. The NON disclosed fee is ridiculous and shame on them for hurting an average business owner, like me and many others. my email is fredez03@yahoo….feel free to contact me. 1 Organization Name: Dr. Fred Zietz ReplyGerry BradshawJanuary 17, 2018 at 9:04 am Organization Name: The Music Shop We have also just been hit by a credit card scam that is available through monaris on.ly. Fake admin cards are being used. Why would any other card other than our own personal admin card work for our machine? Even the receipts say its a diff number than what we were handed by monaris. This company needs to step up and make good for what is being stolen from us due to their sloppy programming. Unbelievable. Feel free to contact me at countrypickin@hotmail.comfor further information. I am happy to expose this company Organization Name: The Music ShopThis comment refers to an earlier version of this review and may be outdated. ReplyYuliyaDecember 15, 2017 at 4:55 pm Horrible customer service and scam practices. We were approved for a machine and even before we even got a machine, they closed the account saying we do not actually quality for an account. Following that, they called the next day saying that someone called and “activated” an account? Like seriously, someone can just call and reactivate a previously closed account?! Sounds incredibly shady. Next thing we know, moneris somehow managed to freeze our account at td and are going to recuperate 5k from our td account?! What’s worth mentioning that Moneris has not deposited a penny of processed payments into our accounts as the account was closed before we even got a machine. Makes you think that we live in some sort of communist state where “the big brother” can come and seize everything anywhere you righteously own it 1 This comment refers to an earlier version of this review and may be outdated. ReplyClaude Dorion December 13, 2017 at 5:36 pm Long story short, Moneris Canada had my wife on a matchlist because my wife closed the account after being charged for 2 terminals several months. They agreed their mistake but no way to get refund. Now my wife can’t do business with another supplier because of her name on the matchlist. This comment refers to an earlier version of this review and may be outdated. ReplyBill Whitesides November 17, 2017 at 8:38 am The well hidden”automatic three year renewal” clause is something all of their customers should be very aware of. A three year renewal is absurd. Read your terms and cancel your contract at least two months before your renewal. 2 This comment refers to an earlier version of this review and may be outdated. ReplyShuiab KhanOctober 19, 2017 at 7:30 am Do not respect contract signed by their representative in our case by their Account Manager for Machine . Straight and Clear violation of agreement, If anybody need to see will sent as proof and looking forward to explore this situation with media and social Media let to know about such a Major Called Canadian Company. Recently their system to RIP OFF $ 151.30 debited from our CIBC account, since keeping eyes the withdrawal shock and called to office. First time calling they keep on hold 40 minutes to discuss with supervisor, than apologized and informed us will call back with in 24 hrs with issuing a Ref: # 33609662. Nobody called and later, we called to follow up the said amount they apologized saying , SORRY system fault $151.30 will be returned in account. HO many account holder watch closely out of 350,000 merchants dealing $ 3 Billion credit and scammed in same way, they know how to scamme. We need to address this serious issue to BBB and fraud departemet to Discipline this Giant corpoate. I have to cancell and terminate the services but like us small business will suffer because either we need to close account or pay to bank to stop withdarwl before they draw any FEE. This comment refers to an earlier version of this review and may be outdated. ReplyNorman Leeworthy July 11, 2017 at 9:10 am STILL PAYING CAN’T STOP IT. agreed on startup fee. It was double. Agreed on monthly fees they were higher. There were other hidden fees. Asked for termination and refund of services. Have been avoided and ignored since. Have to shut down business. Have to close all bank accounts. Will be charged large cancellation that will go to collections if I don’t pay it. About $2000 all in. No services reviewed. This comment refers to an earlier version of this review and may be outdated. Replyjosh January 11, 2017 at 4:04 pm Moneris over charged me 600$. I called several times and was told each time a manager would be in contact with me. Five times actually. no one ever called me back. once everything was worked out they only offered to pay back 119$ of the 600$ over charge. Never would I use this service again where they just go into your bank account and take money. 1 This comment refers to an earlier version of this review and may be outdated. ReplyDave PettieAugust 13, 2016 at 12:00 pm I signed up with Moneris when I started my Plumbing and Heating business back in December of 2015. As a small business just starting up, I need to have money in my account to pay for materials. When the deposits are inconsistent and not in my account when they’re expected to be, I lose out on money. This week I processed a credit card transaction on Thursday expecting the money would be in my account the next morning. When it wasn’t, I called customer service and was told it was a problem on their end and the deposit would settle and be in my account by Saturday morning at the latest. It wasn’t and now I’m unable to pay for a part that is a few thousand dollars because of this. I lost a customer and lost over $2,000. This is not acceptable when trying to grow a business. 1 This comment refers to an earlier version of this review and may be outdated. ReplyRob May 25, 2016 at 11:54 am Significant issues and although Customer Service was amicable and easy to work with we were directed to a different department which are not polite, thorough nor are they professional. We have received different messages which were always quoted as policy etc and the Managers are often condescending and blaming us as their customer. When we attempt to deal with our Sales Rep, we are again shuffled back to another department. Overall Customer Service when you’re experiencing an issue with their staff is TERRIBLE. We want answers and want to avoid legal escalation but they’re really leaving us no options as they will not communicate effectively let alone honestly. This comment refers to an earlier version of this review and may be outdated. ReplyJason BellchamberMay 24, 2016 at 12:07 pm Moneris is a devil you know and there just isn’t much choice here in Canada. I’ve been dealing with them since 1997 just with an imprinter for Visa or MC. I’m beginning to have a problem with their lack of transparency and disclosure regarding what services they have which are taxable and not. Had a helpful rep show me their complaint site. https://www.moneris.com/en/Merchant-Support/Merchant-Notices/Code-of-Conduct-Complaints-Resolution This comment refers to an earlier version of this review and may be outdated. ReplyJonathan ElkinsApril 22, 2016 at 6:25 pm Great article. So I waited on hold for Moneris support for over 5 hours, eventually hanging up because I knew that their support department was closed. I’m trying to resolve an SSL issue. This comment refers to an earlier version of this review and may be outdated. ReplyFusion December 4, 2015 at 3:37 pm We signed up with Moneris in 2007 after our previous service proved unreliable. Our experience with Moneris was favourable in terms of service and reliability but we always recognized that we were paying Lexus prices for a Toyota service. We were unaware of the auto-renewal and when we closed our doors in late 2015 we certainly didn’t expect the $300 charge for ending service outside the arbitrary 3 month fee-free window. To this point I have always promoted Moneris to other business owners but that stops now. I will warn everybody to stay away from Moneris. 2 This comment refers to an earlier version of this review and may be outdated. ReplyBehzad Hayati October 26, 2015 at 6:43 pm It’s so unfair that such practice is still happening. I am talking about EFT (early termination fee) that is hidden somewhere in the website (not even in the contract that you sign)! After three years with Moneris we decided to move to a new platform which would provide more functionalities for our business. By the way, Moneris has never proposed any initiative to keep us with the new requirements requested by the credit card companies. Story short, they are asking for $500 EFT (which has been originally $2600). The term that has never been discussed with the representative when I signed the contract. I signed the contract for three years and was expecting to have month to month renewal like any other respectful company in the same market. Unfortunately I could only share my frustration with the account manager and her manager. The only recommendation that I have for Moneris is that they need to raise their standard as their customer satisfaction is far beyond what they can be. I am supposed to talk to their attorney that such important term can not be in another document in the web where information can be easily changed and there is no traceability. Let’s be more human. This comment refers to an earlier version of this review and may be outdated. ReplyByron Hermann September 1, 2015 at 7:23 pm Hi. Moneris did indeed charge us a large termination fee. We were in the “auto renewal” program but we did not know when renewals were to take place. Make sure you know when the 60 day termination period is! Other than that Moneris has been great. This comment refers to an earlier version of this review and may be outdated. ReplyTerry R July 27, 2015 at 8:05 pm Very disappointed in Moneris, I am closing my franchise business and they refuse to waive this $300 cancellation fee. Not very sympathetic to small businesses, but I understand it is my own fault for not reading the fine print. For my next business I will be using someone else and will spread the word to all the future franchisees and contacts. 1 This comment refers to an earlier version of this review and may be outdated. ReplyHai Nguyen June 26, 2015 at 12:38 pm very bad service and customer rip off keep away from them ,this kind like cheating ,I think the cancellation fee of $250 -$300 is ridiculous. 1 This comment refers to an earlier version of this review and may be outdated. ReplyJon May 27, 2015 at 7:38 pm Moneris lied to me about collateral required on my account. I operate a furniture store and take deposits on orders and then the balance upon delivery. They explained to me that they would need collateral on my business in the event of returns and would review the amount in a year and that it would be returned if their were no refunds/returns processed on my account.Since I have operated the business we have had zero returns and zero refunds and yet my collateral still has not been returned. The amount is significant and the only answer I get when I ask why it won’t be returned is that “the risk to Moneris has increased with increased sales volume.” WTF? The only thing that’s increased is the amount of money that I am paying to Moneris because of higher sales volumes. 1 This comment refers to an earlier version of this review and may be outdated. ReplyJames Gauley May 14, 2015 at 2:10 pm Great Country. Lousy Service. This just in from Moneris “Solutions”: If your card reader is down, don’t worry; not only will they offer to repair the problem between the hours of 10:30 am and 8:30 pm—they don’t bother to show up. And the topper is Moneris doesn’t follow up with a phone call. You have to chase after them, but they are available 24/7 with this helpful tidbit: “Sorry, we can’t help you. There are no parts available.” Gee—I guess that means we should just fold up our tent and go home. Thanks Moneris; your business lack of service will help put us out of business. James Gauley, President/Partner Pumphouse Supplements Inc. This comment refers to an earlier version of this review and may be outdated. ReplyRuce Ahmed April 20, 2015 at 5:41 pm OMG … their customer service is atrocious; this is putting it kindly; over the last 3 days we have spoken to over 10 of their first line support and spent over 5 hours on hold for their integration department and no luck. We have sent emails and no responses. We have left voice mail and again no responses. We already have 20 customer using Moneris via our software and we are thinking of changing all 20 customers to another provider. 1 This comment refers to an earlier version of this review and may be outdated. ReplyIgor Morozov March 11, 2015 at 12:02 am Do not let this company any near your precious business; they will ruin your potential success just by their presents around you with all the negative outrage towards this company. It is an absolutely ugly company with absolutely ugly employees.I stayed with them for 10 years and when I found another MSP who was much, much less expensive, who disclosed any single point to me I decided to switch.Moneries instead of closing the account talked me into a 4 months suspension in case if I change my mind and want to stay with them. They promised to close an account automatically if I do not want to stay with them any longer. After the period was gone they started charging my account again for not even doing anything for me. I called them again to cancel and get a charge reimbursement. They pressed me to charge $300 cancellation fee for something that I cannot even find on any Moneries papers that I have. Yes, it does say that when I sign a contract I agree to their terms and conditions. The terms and conditions came with POS terminal in a digital format as I can tell – go figure….The funniest thing that I started talking to them about the service cancelation just on time to avoid this renewal cancellation clause not even knowing that; BUT THEY DID . They prolonged time to get me into a time frame that allows them to charge me that cancelation fee and only then make me aware of the fee clause!SHAME ON YOU MONERIES! 1 This comment refers to an earlier version of this review and may be outdated. ReplyNorine Roussain February 6, 2015 at 4:10 pm In November 2014 a sales person came into my store selling Moneris, owned by Royal Bank and Bank of Montreal. I refused their offer at least 4 times as I was still in a contract with another company for another 5 months. The sales person kept insisting they would give me $300.00 if I signed up with them. This would help pay any fees I incurred with the other company. This was a promotion only they could offer and that the banks don’t even have. I asked when I would get the $300.00 and they said after 3 months. They kept pushing until I said I would sign up as long as I got the $300.00 My husband came in and asked also and was told the same thing, we would get $300.00 afte 3 months. I read the fees after the first month and they were almost double what I was paying with the other company. I called them to address this and was told that we wouldn’t be getting $300.00 as there is a minimum dollar sales amount that we have to achieve to qualify. Our sales weren’t even close to what they wanted to qualify so I canceled them. The woman gave me a cancelation reference # and her phone #. I called her back a week later, left a message that they should refund me the fees, to this day ave not received a reply. I was worse off than when the rep from Moneris entered our store. The company I was contracted with raised their fees as I advised them I was going to cancel with them in 5 months. I was deceived by Moneris right from the start. The representative asked to see a statement from my current provider. I opened the last one up and there was no activity. At this time they would have known that this was not a good choice for us. We’re about $250.00 worse off than if Moneris never entered our store. In the last 1 1/2 years 3 different people came into our store to sell Moneris and I said no every time. I was pressured into saying yes this last time. I only gave in because of the reputation of Royal Bank of Canada. I know they don’t do business this way by deceiving and don’t know why they keep their name associated with this company. 1 This comment refers to an earlier version of this review and may be outdated. Replymark de pelham December 25, 2014 at 3:59 am I was really happy with the Moneris Payd app. I have recently started a small business and it had several features that suited me perfectly. I soon realized that I would exceed the 5000 monthly limit and called a sales rep to set up an account on their I select plus system. I submitted all the information they requested and waited patiently form their descision. Not only was my application refused, Moneris went ahead and cancelled the account I had been using for two weeks, no warning and on Christmas eve to boot. Very classy. This has seriously compromised my ability to do business. It has left me in the lurch just as my busy season is approaching. If this is how the company treats small businesses that are just getting off the ground, I would stay away. If my issue does not get resolved and I am one day running a larger business you can bet I will, take my payment processing elsewhere. This comment refers to an earlier version of this review and may be outdated. Replypeter osberg October 30, 2014 at 9:29 pm This company have the patina of honesty but will not honor written or verbal commitments or quotes, unilaterally changing terms and conditions without consent or notice; and as others have mentioned only gives a narrow window every 3 years to cancel without penalty. They will debit your accounts once hooked up even if you object. The only way to stop their access and their unauthorized debits is to close your bank account and open a new one with a different number. 1 This comment refers to an earlier version of this review and may be outdated. ReplyYann Mergui October 10, 2014 at 5:43 pm Ugly company with ugly employees. Their only target is to rip off merchants, taking all the money they can from them and then screw them. If you like to be ripped off go ahead with this company if i can call that a company…They gonna put you on the mastercard blacklist for no reason and close your account in 2 hours just over the phone after almost 9 years of business with them and taking high fees. 1 This comment refers to an earlier version of this review and may be outdated. ReplyCarole Foley October 6, 2014 at 8:30 pm Avoid this company. I feel ther are dishonest an I’m being charitable. They had my fax cancelling service since May 2010 – 4.5 years ago. I stopped using them and didnt get one call, one receipt and yet they continued to take services fees from my bank for 4.5 years. I’ve called twice now and sent the cancellation form. They want me to prove I sent it on one breath and stating even if they got it they woudln’t have accepted it.I was thier legit client paying high fees for several years before that. Processsing companies get your bank info and process fees under msp or merchant services. it all looks the same so if you move you have to do careful checks to make sure you dont have lingering fees. Id ony g owth a company that clearly states under thier name one fee a month and thats credited nt offset from revenues which is confsuing. We plan to take then to small claims court. 1 This comment refers to an earlier version of this review and may be outdated. ReplyMarzena August 1, 2014 at 4:35 pm Moneris is HORRIBLE!!! People be aware and avoid it! Nothing is good with Moneris, high monthly fees and terminal charge! Ridiculous! I paid cancellation fee $300 and I’m free! Thanks God! Go with Square instead! 1 This comment refers to an earlier version of this review and may be outdated. ReplyJohn Cooper July 30, 2014 at 7:57 pm Ridiculous early termination fees – USURY.My new rep says they’re higher than a hospital he just converted – I have a small business.AVOID THESE PEOPLE AT ALL COSTS _ THEY ARE TERRIBLE !!! 1 This comment refers to an earlier version of this review and may be outdated. ReplyCamilla Perreault July 15, 2014 at 6:05 pm I like Moneris as a merchant provider. But I am extremely disappointed at their lack of safety and report options when it comes to gift cards. To not have to put it a clerk ID when selling gift cards is to me as a business owner not acceptable. It is extremely easy to make extra money for someone not honest, especially if customers pay cash for their gift cards. No control what so ever. I wish to think this is about the staff you hire, but it is also easy to make mistakes, and forget to punch into the POS system if it is not connected to your terminal could be the same. You can not get reports helping you to track down who has sold what gift card and how it has been paid. This to me, is enough to say no to their gift card service if you were ever thinking of signing up, do not lock your self up on this useless service, I am sure there are others out there that knows how to make this system safer. 3 This comment refers to an earlier version of this review and may be outdated. ReplySue MacInnes July 4, 2014 at 10:44 pm Just had the worst customer experience ever. And…..it was to cancel. Not only was I given the ‘cancellation fee’ that I was supposed to know about from 8 years ago, I was told why my new provider was so terrible. It’s none of your business! I am really upset by the interaction, not just the charge, because I felt attacked by the cancellation representative. I was with this company for years and was very disappointed by this interaction. Avoid moneris and don’t by intimidated by their scare tactics. Options are not possible once you ‘sign up’! 1 This comment refers to an earlier version of this review and may be outdated. ReplyDAvidJune 24, 2014 at 8:33 pm We had a three year contract with Moneris Solutions to process our MasterCard and Visa payments. After over 2+ years we decided we couldn’t justify the monthly charges since we were we not being asked to use CC in our business. We called Moneris to verify the end date of our contract and to ask if there would be any cancellation fees if we closed our account at the end of our contract period. We werer told that there there was a $250 cancellation fee or we could just pay till the end of our contract Dec 2014. Apparently the fine print in the contract also says that if you don’t use the service they can cancel you and charge you $250. We continued to pay the monthly service charges intending to payout till the end of 2014. We have two accounts with them so our fee would have been $500. We opted to just pay the minimum for the rest of the service period. What Moneris does is very clever. They continue to charge your account for months even if you don’t use they service, then before your contract period is over they cancel you for not using the service and charge you $250 termination fee.The manager of customer service was rude and unhelpful. Also beware there is a small window to terminate in writing or your are on the hook for another 3 years. This means it will costs me $1,000 to stop doing business with Moneris. This company is based in Canada. Don’t trust them. I am using aurthorize.net. Moneris is a rip off and they should not be allow to do business in the US. They claim to operate under the Canadian Code of Conduct, but it is unclear it it applies to US customers. This comment refers to an earlier version of this review and may be outdated. ReplySharmaine June 23, 2014 at 7:38 pm Moneris is a rip-off. Not only are their fees astronomical, you can’t depart from them without them ripping you off for more. They ask you to keep the affiliated bank account open so you can receive your deposit refund for the machine. Don’t. Close the bank account and forget the measly deposit so they can’t help themselves to more of your money for cancellation fees and another entire month of service fees after you cancel! 1 This comment refers to an earlier version of this review and may be outdated. ReplyJohn Mountain March 4, 2014 at 11:57 am When we no longer needed this debit machine we were charged a $300 fee to cancel and were told to pack up their machine and it would be picked up. That’s all normal and the machine was duly picked up. However we were then charged for an extra month despite having paid the cancellation fee and signing the documents, because they didn’t receive the machine back in time (don’t forget they organized the machine to be returned). They will not refund the months rental. Stealing would be what I would call this. To take money for no product or service!! On reading the reviews this is obviously one of your business practices! Moneris we would not use nor recommend you again. We will refer this to the BBB and to our local business associations. Small businesses work hard to make ends meet and you should be ashamed or yourselves for your bad business practice. This comment refers to an earlier version of this review and may be outdated. Replycharrier mehdi February 22, 2014 at 10:46 am Every company in canada have not asking a fee for the cancellation before 90 days, it’s a gouvernement’s loy. The cancellation fee with moneris is $ 300 for every custumers. the contract is automatically renewed, more moneris to increase these rates in 2013 and he add a PCI security fees per month or every 3 monthes. This comment refers to an earlier version of this review and may be outdated. ReplyJan February 10, 2014 at 9:18 am Just wanted to chip in on Moneris. We have several webstores and have had several processors over the years. Moneris is the worst. Two of our websites have been using Moneris as processor for almost four years. When we wanted to switch to a different processor, they informed us, that we had to pay termination fees described above as liquidated damages. We had initially entered into a 3 year agreement, that I have now learned included these liquidated damage charges. When our agreement expired after three years, it auto renewed for another three years and the absurd temination fees continued to be a part of the agreement, so when we terminated after being a good customer for four years, we ended up having to pay in excess of $6,000. I would advise other merchants to stay away from Moneris and as a minimum to make sure, that any agreement only has a one year life and that it does not have these liquidated damage fees included. I would advise Merchants already using Moneris to check their agreements and if they have any of these clauses, renegotiate when the agreements expire (and remember there will only be a 60 day window to do so). 1 This comment refers to an earlier version of this review and may be outdated. ReplyStuart February 2, 2014 at 9:17 pm I’ve been using Morris/Moneris for a year now. Whilst I’ve had problems, they have to be fair been pretty quick at solving them. However, I’ve just done my first stocktake in my new business and discovered a very basic, but major flaw in their system. So basic in fact, they should be embarrassed….You can Add inventory, Update Inventory or Add and Update, but you can’t replace existing data with new data. I have over 3,000 products and have to go into each one that I don’t currently have in stock to amend inventory errors. You would think that a simple scanned stocktake followed by an import of the resulting data to override existing data would be an obvious feature. This comment refers to an earlier version of this review and may be outdated. ReplyMoneris userDecember 18, 2013 at 3:57 pm I am just disappointed that I have found out that Moneris is releasing name of businesses to a private lender that is partnering with them and offering you money without consenting with you before releasing names of the business to this organization!!! Not cool! 1 This comment refers to an earlier version of this review and may be outdated. ReplyJack Turley December 3, 2013 at 8:46 am We fired Moneris yesterday after a rough 7 month stint with them. They are a very ethically challenged company who are arrogant enough to believe that they can treat their clients with complete disregard and have the client come crawling back wanting more. Promises were made when we switched over to them from Chase Paymentec ($300 gift card for each account) and then those promises were broken without so much as an apology. Their customer service reps are wretched at their job, but I guess they are just an extension of the corporate culture in that they are arrogant and belittling. We have been in business for almost 23 years so we are not neophytes who demand the unattainable. Our only demand is that any business associate with us act in a business like manner. Moneris failed this test. 1 This comment refers to an earlier version of this review and may be outdated. ReplyPriesh November 12, 2013 at 1:54 pm Moneris Solutions is statind that i have a 90 day trial period with their service. I have called this week (Nov 11, 2013) to cancel the service and they are waiving the $300 termination fee, however i have to pay the value of the Terminal $742.27 When i spoke to the Sales Rep on the phone on the 11th Nov 2013, he also admitted to not giving me the right information and nowhere does it state on my contract that i have to pay the Terminal in full within the 90-day trial period! I have filled a complaint with the BBB. This comment refers to an earlier version of this review and may be outdated. ReplyJason Ramos October 29, 2013 at 10:35 am Have been with Moneris for 8 years and I had to switch to due technical issues with their pinpad integrating with my computer system. After canceling my 5 accounts I received a $300 cancellation charge for each. I am under no contract and when I request a copy of the contracts, I get no response. No one in interested in providing back-up to this contract. So frustrating! TD Merchant Services on the other hand, gave a better rate, better service and someone that I can call when I need help. Not Moneris! Definitely the worst supplier relationship that I have had with a financial institution. As with any of my review I am more than glad to remove or modify my review once the issue has been solved. If you are reading this, it’s because Moneris still has not replied to me regarding why they have charged me $1,500 in cancellation fees. This comment refers to an earlier version of this review and may be outdated. ReplyMario Crespi August 24, 2013 at 4:18 pm These people are THIEVES. The WORST company ever. Their charges are ASTRONOMICAL and they have NO integrity or honesty. They will nickle and dime you to death and even after a request for cancellation of our account had been accepted, they still continued to withdraw money from the account. ABSOLUTELY THE WORST COMPANY IN THE STATES. I give this company 1 star because there is no choice for a ZERO. 1 This comment refers to an earlier version of this review and may be outdated. ReplyAlan TaylorAugust 2, 2013 at 5:31 pm Avoid Moneris at all costs. They seem to have stupid staff. They wrote us about an unpaid invoice for peanuts and when I called them to pay they said that their collection dept had it wrong and that our account was in order. Then they cancelled it 2 days later and refused to respond to emails. This comment refers to an earlier version of this review and may be outdated. ReplyLY HOANG June 17, 2013 at 5:58 pm I HAD CONTRACT WITH MONERIS FOR 3 YEARS. NOW 3 YEARS IS OVER, I WANT TO CANCEL THEIR SERVICES. FIRST, THEY SAID I HAVE TO PAY $300 FOR CANCEL BECAUSE OF AUTOMATIC RENEWAL. I LOOK BACK ON THE PAPER THAT I SIGNED, DID NOT SAY THAT. THEY SAID IT COME WITH THE TERM AND AGREEMENT PAPER WITH CAME ON THE DAY THAT THEY INSTALL THE TERMINAL. This comment refers to an earlier version of this review and may be outdated. ReplyDiane GuignardApril 29, 2013 at 10:00 am Oops, one star! don’t even deserve that. 1 This comment refers to an earlier version of this review and may be outdated. ReplyDiane GuignardApril 29, 2013 at 9:59 am I feel much the same as most of you on here! Moneris misinforms and charges customers fees for NO service. Here is my story: I inherited a Moneris machine with the business I purchased last summer. I called to activate a merchant account, so funds would be forwarded to me. No problem. I called to close in the fall, since it was a seasonal business. No problem, I return the machine ($35/mth) and I’m advised to continue paying the $15 a month to keep the account open so I would not have to pay another set up fee ($250) next spring, makes sense, cheaper to pay $15 for 6 months, than pay another set up fee. I called back recently to get a debit machine for start up, guess what ?, another set up fee, now $300? I’m pissed, since I paid all winter for nothing. No problem, I acquired the services of another merchant account company and cancelled this account. Guess what $300 fee to close the account? Yup, $300 to click “CLOSE” wow, Moneris, I will never be back, nor will i even so much as pay anything on any of your machines in the future. All the best to you, I hope you choke on my $300, plus the $90 I paid to keep my account open all winter for nothing. This comment refers to an earlier version of this review and may be outdated. Replyronnie giles December 11, 2012 at 12:02 pm I am writing this complaint concerning Moneris Solutions to warn others about their exuberant costs. Moneris Solutions is a company that provides card services to businesses at rates that equal 10% of total sales in my case. I have dealt with this poor excuse of a company for the last few years.Until another company in the same field of business enlightened me,Bank Associates Merchant Services,charging me half as much. I switched companies last month and Moneris gave me a going away present of $71.90 in charges. Here’s the sick part.! I didn’’t have any transactions with them during that period.The person that I complained to at Moneris told me that the charges were out of his control.The fellas name and position at Moneris,[edited: name removed] | Merchant Retention and Account Management | Moneris Solutions further told me to complain to some attorney at the company. Instead I have decided to enlighten the business community to avoid using this company. This comment refers to an earlier version of this review and may be outdated. ReplyNicky Morrison November 13, 2012 at 1:11 pm Yep, same boat. Except I stopped them taking payments from my bank via TD. TD was applaulded. They Moneris representative claims that the $300.00 they wanted to take from my account was to pay for space on their server for keeping my information for the next four years. In the four years I have been with them only one of my clients complained and that is only because they did not recognize our name on their credit card statement and this was cleared up with the client and Moneris with a five minute phone call. I asked Moneris to show me where I signed this contract and they say I never did. It is just understood the first time I use the machine. I am disgusted with Moneris after being a client of their’s for four years. This comment refers to an earlier version of this review and may be outdated. ReplyZoë Stewart October 31, 2012 at 9:53 am I just closed my father’s account with Moneris. He was the smallest of the small time operators, lost money consistently, and paid ridiculous fees to Moneris for years, relative to his sales volume. He still used one of the old “knuckle-busters” to run credit cards through. I spoke to a customer service rep named [edited: name removed] to cancel, and of course nearly choked when she got to the $300 cancellation fee. She said, ever so softy, “It’s in the contract…””I can’t tell him that” I said, ” Look at his sales history, have you seen how little he makes? I can’t tell him it will cost him $300 to retire. Is there anyway around it?” She put me on hold, spoke to a supervisor, and waived the fee!I don’t know what rating to give. My father’s experience with this company was mostly negative, but then [edited: name removed] (blessings upon her), saved the day and let my father out without exacting the requisite pound of flesh. I guess it’s worth it to read contracts carefully. 1 This comment refers to an earlier version of this review and may be outdated. ReplyFahad November 17, 2012 at 11:29 pm @ zoe Stewart, can you please provide me the name they have deleted so i would know which company to choose for my payment processing needs. THanks This comment refers to an earlier version of this review and may be outdated. ReplyVery ConcernedOctober 31, 2012 at 8:46 am Emails dated april 21 2012.. Please confirm what you mean after the 90 days, you will not have to do anything for the rebate promotion as the money is deposited into your business bank account automatically if you continue to use the services after those 90 days, enjoy the 2 month trip! David Preston IB Sales Consultant david.preston@moneris.com ( 1-877-825-0361×4436 ( 416-232-2391×4436 Fax: 416-2347094 Called after that 90 days period to find out he is no longer there.. its now Oct 31 2012 and still no 500 bonus for staying 90 days what gives? Am i being scammed? This comment refers to an earlier version of this review and may be outdated. ReplyTed B September 11, 2012 at 1:40 pm I am willing to pay the cancellation fee! It would save me a lot of money as their processing is SO INCACCURATE! They told me they have a “known problem” in the software of their new equipment. In two days, they deposited roughly $6,000 LESS than the dollar amount we have in transaction slips. According to them, their reports balance so it is something we’re doing. They then suggested we use a different report as their report that we’re currently using “isn’t accurate”. It often takes 2 huors to settle and balance 1 day of electronic payments PLUS the time I’ve spent on the phone with them repeatedly asking for a rep to attend our place of business. I am in Toronto so it isn’t a great distance. I was with Global Payments and left because their equipment was unreliable and frequently crashed at our busiest time. At least their reports were accurate and reliable. I’m currently seaching for a provider with accurate reporting and reliable equipment! Ted This comment refers to an earlier version of this review and may be outdated. Replybrian mchenrySeptember 10, 2012 at 9:11 am Read the fine print from Moneris. They stealthily initiated a $10 per month PCI fee and then a $20/month ‘non-compliance’ PCI fee and when i checked around, others simply charge a $10 per month compliance fee. So i told Moneris i was moving my credit card handling to another company after almost 2 years with them So what did they do? DING me a $250 cancel fee?!! ALL OTHER merchant service companies have MONTH TO MONTH contracts so you can cancel any time. DO NOT USE MONERIS they will nickel and dime you (apparently their sales rep said ‘oh yea, we’re month to month’ but in the fine print they include a 3 YEAR CONTRACT? and then even after i mentioned what their sales rep represented to my company they refused to ‘waive’ the fee. Also because i trusted them and didn’t notice the PCI fees for many months i was beyond the 90 day cancellation window. I recommend you stay away form MONERiS and find a company who gives you month to month contracts. This comment refers to an earlier version of this review and may be outdated. ReplySaskatoon May 29, 2012 at 3:26 pm Anyone currently with Moneris may be interested to know that as per the Code of Conduct for Credit and Debit Card Industry that you have 90 days to opt out of your contract without penalty if they raise your fees. Many customers (including our business) received a PCI Security Fee addition that will be effective July 1st. If you received this on your March 31st statement you will have 90 days from that time to cancel. See this link for more info direct from Moneris http://www.moneris.com/Support/Help/Interchange.aspx Hope that helps! This comment refers to an earlier version of this review and may be outdated. ReplyJared London May 7, 2012 at 8:38 pm Im having a hard time figuring out how this company has a 4 star review, they are clearly the opitomy of of evilness in merchant services. My advise to any merchant with Moneris is to contact your attorney general ASAP, if you just turn tail and take this abuse you will get it. If you have found a new MSP get up and running with them and periodically plug your Moneris terminal in and run a few transactions because the will attempt to ACh you if they find out you’ve switched and ps the contract says you can not switch banks nor MSP’ s. We are currently working on a lawsuit against this company and would like any readers with questions or complaints about Moneris to email me for advise as we have got multiple clients out of these rediculas fees. After seeing the rating merchant maverick has givin them this website has lost some credibility in my eyes and is not up to date on many subjects. Best of luck and turn their ACH abilities off with your bank, because sooner or later you will get hit for these fees unless you fight back. Good luck This comment refers to an earlier version of this review and may be outdated. ReplyAmad E.May 8, 2012 at 12:34 pm Thanks for the input Jared. The Moneris review is due for an update, and we’ll reconsider their score if necessary. After seeing the rating merchant maverick has givin them this website has lost some credibility in my eyes and is not up to date on many subjects. Would you mind telling me which subjects are not up to date? I’d like to get them fixed if necessary. This comment refers to an earlier version of this review and may be outdated. ReplyJared London May 8, 2012 at 4:01 pm The cancellation, this sight states $250-300. The fact is that if a merchant cancels with them they will take the average volume of the highest months and figure 3% of that along with any fixed fee’s is then multiplied by the remaining monthes with a fee no less than $250. All I am saying is that I have had multiple clients that have recieved bills anywhere from $2700- $21000 and I would hate to see a person look for advice on this sight and then end up like this. Moneris also has a claus that says you can not leave RBC or you will have the same harm. Moneris also uses FD Nashville and TSYS if you werent aware. I noticed you gave Heartland 5 stars, just so you are aware they have raised their ETF to $500. Ive been in this industry a combined 10 years with my partner, neither of us have ever leased equipment no written a teired account, we sell with honesty and integrity and answer the phone for our clients; so when I see what Moneris does it makes me sick. This comment refers to an earlier version of this review and may be outdated. ReplyAmad E.May 10, 2012 at 12:29 pm Thanks Jared. The Moneris cancellation fee was historically $250-$300, but it seems they’ve changed to a liquidated damages type ETF as of late. Still, it would be nice to see a copy of their new contract. Do you have one that you can send me? This comment refers to an earlier version of this review and may be outdated. ReplyiraJune 4, 2012 at 9:57 am Jared: We got involved with Moneris through RBC bank. We were led to believe they were rbc’s in house processor and their ridiculous 3 year contract terms were not made clear at signing. Shame on me for not reserching this more closely. When RBC pulled out of Georgia and we had to switch banks, we switched to a local processor. I am now getting calls from their counsel demanding a $3000 termination fee. If a Moneris rep contacts you, run for your life. It seems to my uneducated self to be simple usury. Most upstanding processors will wave this contract requirement if confronted. You will need to read to page 28 in their contract to find this hidden requirement. This comment refers to an earlier version of this review and may be outdated. ReplydonnaOctober 10, 2013 at 12:20 pm Hi Jared, just another victim of our own stupidity…we too have been in a conflict with the above mentioned, and are wondering what to do. they have cancelled with us, and now want 2900 dollars! reading your remarks, and wondering if you had any success or can point me in the right direction? thanxs, disallusioned… This comment refers to an earlier version of this review and may be outdated. ReplySusie January 30, 2014 at 2:03 pm Hello Jared, Can you let me know how the lawsuit turned out for you? We are also being harassed by Moneris. Any information would be helpful. Thank you! This comment refers to an earlier version of this review and may be outdated. ReplyMarian March 23, 2012 at 3:20 pm Worst company ever! Avoid Moneris at any cost! After 8 years with them, they are asking for $3,200 to close the account, because of that 3 YEARS RENEWAL clause THAT NOBOADY KNOWS ABOUT! THIS IS OUTRAGEOUS!!!!!!!! I hope someone will close their business or ask them about their practices! This comment refers to an earlier version of this review and may be outdated. ReplyCassandra Cornell February 25, 2012 at 5:12 pm Does anyone have a better solution than Monteris? Julie, Reg, Heather have any of you switched to a provider that offers a better system? This comment refers to an earlier version of this review and may be outdated. ReplySunny December 28, 2011 at 11:13 pm I was just talking to a Moneris representative on the phone today. I asked about interchange + pricing. And he must have thought I had heard to ask that interchange pricing is the way to go but that I didn’t know much details about it. He tried to convince me that interchange pricing includes 1.65% base + 0.25% for rewards type cards + the interchange fee. When I asked him how much the interchange fees are he said they are usually between 0.3% and 0.7% however on the Visa and Mastercard interchange fee schedule on their website it lists ecommerce fees around 1.55%. After I brought it up a 2nd and 3rd time he tried to get me to ask the others about it. He answered the phone as [edited: name removed]. At the end when I asked him for his extension # and name he had changed it to [edited: name removed] after I said to confirm it was [edited: name removed]. And also I asked him to send me a quote by email which was also not sent (no surprise). If this type of behavior is being done by their sales people, it is no doubt structured that way from the very top. These are unethical business people and everyone should be very wary and careful when dealing with these guys. And by being careful I mean look elsewhere for a merchant! This comment refers to an earlier version of this review and may be outdated. ReplyJulie Jewell October 10, 2011 at 11:15 am Just try to cancel your contract with Moneris. They have a feE schedule that is referred to and never available. It says see section 19 and there is no page 4 or section 19. I have been trying to work with the company for over 6 months and they are so big, they can cancel you at anytime but you can never cancel them. They take your largest 3 months in your 3 year history and that is your cancellation or early termination fee, not the standard 250 try 2600. I have filed with the BBB and they debited my account anyway. They have raised their rates, April, then again in June, it is in tiny print on the last page of your statement. Beware ! Also you have to cancel 6 months prior to the end of your contract in writing. Beware of being grandfathered in when they buy out a company too !! Beware of sales people selling you great things from a company that has their best interests at heart. Beware of the qualified vs non-qualified transactions, you could be charged 4% of the sale. Beware, they are Gods and you are just a stupid merchant and they hold all the power and can do whatever they want to you. GET OUT, CLOSE YOUR ACCOUNT AS SOON AS YOU CAN, MONERIS IS A BAD WORD FOR MERCHANT SERVICES. This comment refers to an earlier version of this review and may be outdated. ReplyKeith Adler March 10, 2011 at 3:49 pm I deal with Moneris in the US and have for several years with no real issues to speak of. Within the last year, I have had nothing but poor customer service. In the past I would get my issue or question answer immediately on the phone. Now they have changed the way ypu get serviced and to come out to find after asking some questions, that they moved these departments to Canada. Now I understand why companies consolidate, but it seems that they have put a bunch layers in now and their reps just take messages and say that someone will call me back. The average turn around seems to be 2 days if at all. I miss the one call and I’m done approach they use to have. I’ve decided to start looking elsewhere because maybe they have just gotten to big. This comment refers to an earlier version of this review and may be outdated. ReplyReg Siemens January 19, 2011 at 12:05 pm Same story here. Longtime Moneris customers. After repeated fee increases we sought out another credit card processor. Called to cancel and were made aware of this ridiculous contract that we had NEVER seen or signed. Decided to wait until renewal (cause it’s only 8 months away) and then were told that we couldn’t give notice of our desire to NOT renew until within the 90 days prior to renewal. I asked for an address of record where I could send a registered letter to document our desire to not renew and they refused to supply it. Insisted that we call back within the 90 days. When we do that I suspect they’ll tell us it’s too late and that we should have phone PRIOR to the 90 days. Just ridiculous! Absolute extortion!!! Seek out another solution! These guys are bandits! And for the record, this organization is a joint venture of RBC and BMO, pulling your business from either of those institutions would be another wise move – and be sure to tell them why! This comment refers to an earlier version of this review and may be outdated. Replytim January 14, 2011 at 5:22 pm Moneris & RBC bank To all merchants looking for credit card processing: Please be aware of the fine print which includes VERY excessive and severe consequences for early termination of this (3) year agreement. Below is what will happen if you decide to leave Moneris Payment Solutions or discontinue processing according to their terms stated in application MSFRI-OC-APP-0910. “Early Termination Fee is calculated based on the greater of Two Hundred Fifty Dollars ($250) or Bank’s average monthly volume derived from processing Merchant’s transactions (based on an average of the highest three (3)months of processing volume during the previous or current term of the Agreement,whichever is greater),multiplied by .003,multiplied by the number of full and partial months remaining in the term of the Agreement” EX: A business processes $40,000 monthly in credit cards and is unhappy with increased rates and poor service. After 1 long year of being fed up they change processors and cancel Moneris. The Consequence: $40,000 x .003= $120….then take ….$120 x 24 (months remaining) on your (3) year term= YOU GET HIT WITH A $2,880 CANCELLATION FEE. But please keep reading because it gets more ridiculous……………. “TERM AND TERMINATION. (1)Term.The termof thisAgreement,including any equipment rental, shall be for three (3) years from the Effective Date and shall remain in full force and effect until termination.This Agreement shall be automatically renewed thereafter for successive three (3) yearperiods unless Merchant gives written notice of termination at least sixty (60)daysbut not more than one hundred twenty (120) days prior to the expiration of the then existing term. (2) FEES FOR DISCONTINUING PROCESSING. In the event Merchant (i) discontinues or ceases processing of Card Transactions prior to the end of the term hereof, or (ii) gives notice of discontinuance of processing (including an invalid or ineffective termination notice),or (iii) violates Section 15 of this Agreement, Merchant shall pay Bank upon demand the Early Termination Fee described in the Schedule of Rates and Fees attached to and made part of this Agreement. Merchant agrees to pay this Early Termination Fee and agrees that such Early Termination Fee constitutes liquidated damages and is not a penalty.” In other words…unless Moneris is notified within 60-120 days at the end of the initial contract…They will stick owners back into another 3- year contract without consent. Therefore allowing merchants that have been with them for 3-10 years to still be subject to these outrageous fees. The above also states that merchants can be punished for discontinued processing. So if you close your business or for whatever reason decide not take credit cards, you are still on the hook for thousands of dollars…And believe me they come after you… as well as none of this gets explained as your signing the contract. This comment refers to an earlier version of this review and may be outdated. ReplyHeatherDecember 13, 2011 at 10:23 pm this is happening to me right now, they are saying that i owe them over 2700.00 in fees, changed to a new company in June and they are just now sending me this nasty gram here in December, I signed with them back in 2004 and who knows what was or wasn’t said back then but i am sure i was not told about their renewal terms because i would not have agreed to something so stupid as that, I hate being locked into something for so long and not having a way out, please give me some advice if you can, thanks This comment refers to an earlier version of this review and may be outdated. ReplyEddy November 30, 2010 at 2:13 pm I can confirm that Moneris solutions have hidden fees. Moneris charges an extra 20$ EVERY MONTH fee PER EACH moneris terminal if we do not process a total of 8000$ per terminal. We have never been made aware of such charge. This comment refers to an earlier version of this review and may be outdated. ReplyJason J November 26, 2010 at 9:10 am I have been with Moneris for last few years but i am definitely going to change it this day. I am really fed up with their service and i feel they will scam you like anything else. Charging you your hard earned money left and right. I am really depressed and will go ahead for cancellation of which i have to pay another $300. I am Not Satisfied. This comment refers to an earlier version of this review and may be outdated. ReplyVikash Sharma November 3, 2010 at 10:25 am All processors are the same Moneris, Payment Tech, Pivotal Payments,First Data, Global Payments , any banks and others. You have to read the contract before signing, this is the number one mistake merchants make, the salesperson will tell you no need to read contract. The contract always states its automatic renewal and contract term varies between 3-5 years depending on the company. Some companies also will charge you liquidation damages if you cancel the contract, LD is calculated from monthly fees, monthly volumes of sales and any misc monthly or yearly charges. I have see merchants charges over $50.000 depending on their volume of sales. If you don’t understand your contract have a lawyer read over the contract. Another issue is terminal purchase versus terminal leases, LFG is a rip-off they offer you a 4 year lease non-cancellable but they fail to mention that after your 4 year lease you have to buy-back the lease you will still be billed monthly charges. Hope this helps anyone This comment refers to an earlier version of this review and may be outdated. ReplyDavid PfauOctober 28, 2010 at 3:26 pm I was ripped off by Moneris Solutions. I was only with them for three months and cancelled because they would not change the font to be legible on my printed tickets. They offered to sell a new machine to me. Once I cancelled for getting NO SATISFACTION from their services they took OVER $1300 from my account not as a cancellation fee but for their “lost business” feel. I tried getting my money back but was told I needed to hire a lawyer and sue them. I can’t afford that so I got ripped off. They even paid $250 for cancellation fees from my previous processor but yet they rip me off for $1300. My business is in Alabama. This comment refers to an earlier version of this review and may be outdated. ReplyScott September 23, 2010 at 11:01 am I just found out the hard way as well about the Moneris theft of $300, based on an ‘agreement’ that I was never privy to. I asked for the ‘agreement’ to be faxed to me, and it indeed does say that there is a $300 cancel fee. Trouble is, I have never seen this form, ever. I was told that it was in place when I signed for the terminal. Shuldn’t we be given a copy of any such agreement and given a chance to read ot, or have it explained? This comment refers to an earlier version of this review and may be outdated. ReplySuzanne September 16, 2010 at 3:29 pm Since May I have a $9.95 “Pre-authorized Payment No Fee, ACCT SERV PKG MSP/DIV” charge on my Moneris merchant account. Why? I don’t recall any mention of this new “No Fee” fee? Suzanne This comment refers to an earlier version of this review and may be outdated. ReplyMelissa March 8, 2012 at 9:05 pm I was charged the same amount per month $9.95 which wasn’t stated in my contract. This comment refers to an earlier version of this review and may be outdated. ReplyMike March 28, 2012 at 4:50 pm You are required to have separate merchant accounts per location for security purposes This comment refers to an earlier version of this review and may be outdated. ReplyMarion CaseAugust 17, 2010 at 2:55 pm 10+ year merchant with Moneris. Opened third location, new account refused. No reason given. Rates increased. Called today to cancel account as we have opened with another provider who will cover all locations. Very uncooperative and rude representative. When I asked how to spell his name (for my records) he hung up! I surmised the closing application was over. I was unaware of the $300 per account cancelation fee. Do you suppose this is why Moneris requires a seperate merchant number for each location? This comment refers to an earlier version of this review and may be outdated. ReplyVirginia July 13, 2010 at 9:02 am FWIW, I read my application more carefully. The “waive early termination fee” appears to be coming via a Special Program from Dharma Merchant Services, not Moneris Solutions. This comment refers to an earlier version of this review and may be outdated. ReplyAmad E.May 10, 2012 at 12:23 pm That’s correct Virginia. Dharma has a special agreement with Moneris in which they waive the early termination fee. This comment refers to an earlier version of this review and may be outdated. ReplyVirginia July 13, 2010 at 6:14 am I have just reviewed an OA-S19 contract from Moneris Solutions that I have obtained through Dharma Merchant Services. The contract is one year auto renew. The section 25 on early cancellation fees has been removed from my document. Perhaps Moneris is aware of your recent review or perhaps it was removed by Dharma Merchant services. Thank you very much for your website. It has been very helpful to me in our search for a new provider. This comment refers to an earlier version of this review and may be outdated. ReplyMary Jordan November 2, 2010 at 11:50 am Did you end up signing up with Dharma? If so, how is it going with them? If not, who did you end up choosing? Thank you so much. This comment refers to an earlier version of this review and may be outdated. ReplyLeave a Reply Cancel replyYour email address will not be published. Required fields are marked * Name * Email * Website Organization Name Rating Your Review Comment moderation is enabled. 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