Best for
Bank Transactions, Inc. is best for retail, restaurant, gas, grocery, hotel, and e-commerce businesses needing in-person or online credit card processing.
Specializes in
Bank Transactions, Inc. is a reseller for Fiserv and offers credit card processing to all businesses but seems to specialize in retail, restaurant, grocery, hotel, and e-commerce.
Pricing Summary
Setup Fee: $0
Monthly Fee: $25 (Monthly Wireless Fee)
Swipe Rate: 3.50% + $0.13
Keyed-in Rate: 3.50% + $0.13
Early Termination Fee : $299
Contract Terms:
Bank Transactions, Inc. started in 2004 as a direct Visa and Mastercard processor. However, the company appears to be a reseller of Fiserv (formerly First Data).
The company provides merchant account services to most business types, including small to large businesses, financial services, government organizations, and sales organizations.
Bank Transactions, Inc. is located in San Diego, California, with Adam Friedman listed as the current CEO.
Bank Transactions, Inc. has been in existence since 2004. The company is a reseller for Fiserv, which was previously known as First Data. They claim to offer the highest quality merchant account solutions available.
Located in San Diego, California, the CEO is currently Adam Friedman.
The company has a transparent pricing model and offers three-year contracts. Customer service seems to be outsourced to the parent company, Fiserv.
Although the pricing is higher and contract terms are less favorable than some competitors, Bank Transactions, Inc. has a low customer complaint record which means most of its customers must be satisfied with the service they receive.
It should be noted that Bank Transactions, Inc. is not a direct credit card processor, instead, it uses Fiserv’s card processing network. This is unlikely to affect the service the customer receives, however, it is concerning that the website does not make this relationship clear.
Head Quarters
San Diego, California
Year Founded
2004
CEO
Adam Friedman - President
Employees
10
Merchant Provider Risk Tolerance
Hardware and Software
Bank Transactions, Inc. uses Fiserv’s payment network to process all their cashless payments.
They also offer physical equipment for any company as needed which includes POS systems, card readers, and more.
As a merchant account provider for e-commerce stores, they also offer payment gateways and virtual terminals.
Value-Added Services
One of the businesses Bank Transactions, Inc. specializes in is gas stations. One service they offer is pay-at-the-pump.
Supported Payment Types and Services
Bank Transactions, Inc. processes all forms of cashless payments using the payment network of Fiserv.
This includes all major credit cards such as:
Visa
Mastercard
Discover
American Express
As well as online payments, payment apps, checks, gift and loyalty cards.
Discloses All Important Terms
Yes
Public Pricing Available
Yes
Bank Transactions, Inc. offers the same rates as Fiserv.
This includes swiped and keyed in rates of 3.5% plus $0.13, and virtual terminal rates of 1-4.99%.
In addition to the transaction rates, several fees are included in the price structure. These include:
$299 early termination fee
$99 annual fee
$10 monthly statement fee
$0.25 batch fee
$25 chargeback fee
$5 debit access fee
Depending on the plan, businesses may also be on the hook for a PCI Compliance fee or lease payments for equipment.
Bank Transactions, Inc. is fairly upfront about its pricing, however, there are a lot of fees included in the contract which makes it more expensive than some of its competitors.
Pricing Model
Interchange Plus
Swiped Rate
3.50% + $0.13
Keyed-in Rate
3.50% + $0.13
Mobile Payment Rate
Virtual Terminal Rate
1.00% - 4.99%
Monthly Fee
$25 (Monthly Wireless Fee)
Payment Gateway Fee
Undisclosed
Batch Fee
$0.25
Early Termination Fee
$299
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
Variable
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Annual Fee
$99
Monthly Minimum
$25
Statement Fee
$10
Bank Transactions, Inc. is a reseller of Fiserv (formerly First Data). The contract they sell is a Fiserv three-year contract. The contract includes a $299 penalty for early cancellation.
Some contracts also include the lease of physical equipment, although it is not clear what the rates are for equipment leases.
Contract Length
3 Years
Early Termination Fee
$299
Bank Transactions, Inc. seems to outsource its support to Fiserv, its parent company. There is a phone number and mailing address on their website as well as a contact form.
The website claims every contract comes with a personalized service agent to work with the customer on any potential issues.
They also have an application form on their website that is short and simple to fill out. This makes the process of applying very easy.
BBB Rating
Bank Transactions, Inc. has a non-accredited Better Business Bureau profile that has 0 customer reviews or complaints attached to it. Better Business Bureau has not rated their profile as of the writing of this review.
Other Online Reviews
Bank Transactions, Inc. does have some complaints online, mostly about contract terms being misrepresented. Overall, its complaint volume is low for a company of this size.
Most of the complaints may be funneled toward Fiserv as they handle the customer service for Bank Transactions, Inc.
BBB
C and is not BBB Accredited. (0 Reviews; 2 Complaints)
3 Stars / 3 Reviews
No Recommendations Yet
Yelp
2.5 Stars / 3 Reviews
Total Online Reviews
10+
Total Online Complaints
Lawsuits
None
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks