Banctek Solutions

Banctek Solutions
  • Editor Rating

  • Rated 4 stars
  • Excellent

  • Banctek Solutions
  • Reviewed by:
  • Published on:
  • Last modified: August 18, 2015

Review Summary:

Banctek Solutions offers a low cost alternative for merchants looking to lower their merchant processing costs.

Banctek Solutions
  • Banctek Solutions
  • Rating: 4
  • Reviewed by:
  • Published on: February 25, 2015
  • Last modified: August 18, 2015

Review Summary:

Banctek Solutions offers a low cost alternative for merchants looking to lower their merchant processing costs.

View our Top Ranked Processor

Banctek Solutions offers a low cost alternative for merchants looking to lower their merchant processing costs. Their corporate headquarters are located in Colorado, with Telesales offices in Colorado and California.

One area that Banctek drops in our rankings is in their contract and cancellation policies. Typical contracts are for 3 years at a time, in addition there is substantial cancellation fee for those merchants who no longer wish to process credit cards through Banctek.

We have spoken with individuals at Banctek and there are options for merchants to reduce their standard contract/cancellation rates and policy – we highly recommend that all merchant be sure to bring this up when negotiating with Banctek (and any other merchant provider, though rarely are there options available as there are with Banctek)

A danger with any company that has a specified length contract is the dangers associated with their ability to increase rates and fees over the length of the contract. Merchants need to had a large amount of trust in choosing to work with a merchant service provider that has 3 year length contracts as a part of a standard relationship.

Before You Sign A Contract!

We recommend that all merchants speak with at least 2 processors before signing their contract. Why?…

First – You should feel comfortable with the sales representative, if you’re feeling pressure on the call or feel as though you are not a focus, it’s unlikely your experience will improve after signing your contract!

Second – Be wary of introductory rates (specifically qualified rates) in the initial pitch – each business is unique and the rates/fees that will actually save your business the most, are only available once the sales representative has learned about your business.

We currently have Cayan listed as our top ranked merchant service provider. However if they do not fit your needs, you can look through our full list of processors and find the one that is right for your business here.

One of the biggest areas that we have updated our review regarding Banctek was their customer service. Opposed to many of their peers they have very little footprint in regards to complaints online, more telling for us is how much effort they seem to put into reaching out to those that do run into the occasional problem and address them.

Additionally a small item that caught our eye that we really enjoyed seeing was a corporate directory listed on their website, along with the customer support phone numbers it is always great to know who to call if the normal communication channels fail.

About author

SMB Reviews
SMB Reviews 496 posts

SMBReviews is committed to providing small and mid-sized business owners with the information and resources they need to select the best service or product for their company.

Editor review

Costs
3.75/5
Sales
4.25/5
Customer Service
4.25/5
Ratings
4/5

4.06

Good
4.06
Summary

Banctek Solutions offers a low cost alternative for merchants looking to lower their merchant processing costs.

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