Whatever happened to “fair and just”? Term net and First National Merchant solutions are NOT subsidiaries of Tsys. Required fields are marked *. They also have an excessive number of fees. They tacked on several other service fees without our consent or knowledge. I used TSYS for 4 years to process my credit cards and they were difficult every step of the way. By signing up I agree to the Terms of Use. Of course I got a message machine, not a real person. You might have to pay a higher monthly account fee, or maybe you won’t be granted a waiver of your early termination fee. On all these sites, the most common complaints included the following issues: You’ll find about a dozen video testimonials on the TSYS YouTube channel, all of which seem genuine and realistic in terms of the comments made (even if much of it is not really useful information). I feel other may … With over 650,000 merchants onboard and an annual processing volume of more than 1 trillion dollars, it’s second only to Fiserv (formerly First Data) in size. Lendio is one of our top picks for PPP/Business Financing! What a ripoff!!!!! Being a busy firm, we didn’t notice until months later. Xero VS QuickBooks Desktop: How Do These Two Accounting Software Giants Compare? Knowledgeable people, dedicated staff (think people spending 20+ years w/ the company). Product & company names, logos, and trademarks referred to on this site belong to their respective owners. Save your self tens of hours and thousands of dollars and choose another company… literally any other processor will be a better choice than this one. They have put a hold on the account after they over charged my account $4000 for monthly fees and I complained and faught back against their unethical practices. TSYS earns a “fair” rating in this category because it no longer discloses any information regarding processing rates or account fees. Offering flat-rate pricing and an industry-standard feature set, it’s an ideal choice for growing businesses in need of a reliable and trustworthy merchant solution. 97 Salaries. Fattmerchant is one of our top picks for credit card processing! Copyright © 2020 Merchant Maverick. With its acquisition by Global Payments, you can expect that many of its proprietary services and products will be phased out in favor of Global Payments-branded features. It seemed like a good idea at the time, but like everyone else says, customer service is horrible and the fees are out of line. Customer service is horrible – they’re rude and not willing to negotiate at all. The low complaint volume relative to its size is a strong indicator that the majority of its merchants are happy with the company’s service, even if they don’t take the time to offer any positive comments online. I was nice on the phone, tried to resolve issues, only to get lip service from TSYS. It mentions long term leases as costly etc. At that point I don’t understand why merchants do not just go through TSYS directly. Now he brings his expertise and experience to entrepreneurs as a regular contributor on Business.org. Get three months free when you sign up with Helcim through our links! However, the company previously showed a total of 60 complaints filed within the past three years, with 18 of those complaints having been filed within the past twelve months. Mistakes that took years to fix and I still think I got shorted. After several months of the new terminal being sent to the wrong address after wrong address and struggling to get payment from customers, I had finally had it! Additionally, TSYS gives you lots of flexibility on where and how you can process cards: The sky is really the limit here. Nothing is ever truly free in the processing industry, and you can bet that acceptance of a “free” terminal or tablet POS system will come with some sort of trade-off. 111 TSYS Merchant Solutions reviews. He reached out to me after I expressed displeasure with how TSYS was handling the accounts for a large group of clinics who used billing software that interfaced with TSYS. Data effective 11/23/20. I only have 2 more months but I don’t care. Stay updated on the latest products and services anytime anywhere. If I could I would give this unethical company zero stars! 111 TSYS Merchant Solutions reviews. The sales rep with his company that I was working with would never return phone calls or email messages once he got an account established from my business. DO NOT USE THIS COMPANY!They will process your customer credit cards and you have to fight with them to get your money back.I have been using this company for a few years and every time I have a problem getting paid. Because of the crazy EXTRA fees that this company refuses to wave, my bank account has been wiped out. still waiting for my 127.70 . Comment moderation is enabled. His upbringing in an entrepreneurial family nurtured a passion for small business at a young age. During the course of the year the fees are ridiculous. We have used this vendor for at least two years. Then they say they can do that per the contract. 11 Inter­views. There gateway works well. In hindsight I should have run the other way. Try Paypal, their rates are much lower, the fees are much lower, and they do not have a term contract to sign. For example, it offers a program that essentially takes care of any data breach your company may experience. TSYS has been around since 1959. They are getting ONE star only because I can’t chose a negative star rating!More than 2 years ago, I cancelled our account by speaking with Luther Starks at TSYS, who represented himself as a Manager. Fundera is a free-to-use marketplace that allows you to compare lenders side-by-side. In December 2017, TSYS got even more massive by acquiring Cayan in a $1.05 billion deal. Our contract stated that monthly basic fees were a min. TSYS Acquiring Solutions serves as a back-end processor for other merchant account providers, including both TSYS subsidiaries and independent companies. At Business.org, our research is meant to offer general product and service recommendations. They’ve been more than willing to lower my rates when I ask, but then it seems the “extra” fees pile up even higher. *Our preferred processors use fully transparent Interchange-plus pricing. While we’d prefer to see more pricing disclosures, we also realize that pricing is highly customized to each merchant, and there is a lot of variation in this area. I have found, unfortunately, that resorting to threats is the only way to get people’s attention anymore. TSYS requires most businesses to sign a three-year contract. ” in 3 reviews “ After reading some of these reviews, I started wondering what is going on and I learned that TSYS (like First Data) acquires other companies. While we strive to keep our reviews as unbiased as possible, we do receive affiliate compensation through some of our links. The combined organization will operate under the Global Payments brand name, and the TSYS name will eventually disappear. (ii) Merchant agrees that such Damages shall also be due to Bank if Merchant discontinues submitting Transactions for processing during the Term for a period of ninety (90) consecutive days, and is not designated on the Merchant Application, or by notice to Bank, as a seasonal merchant or as otherwise agreed to by Bank. The TSYS connected ecosystem eliminates siloed solutions, and gives you a valuable 360° view and control of your cardholders' customer journeys. At the same time, TSYS is far from perfect. Why not just give them a mobile point-of-sale system that gives them immediate access to your inventory numbers? 34 Benefits. When I asked STAY AWAY! The good news is that we haven’t seen many complaints from TSYS customers regarding fees. If this feature sounds great to you, be sure to ask about it. ADP Payroll is one of our top picks for Payroll Software! How do fees go up in a pandemic? You can expect to pay a monthly account fee, which in the past has ranged from as little as $9.95 per month to as high as $49.95 per month. Do not go with this company, They charged me for 3 years a monthly fee when I didnt even have them as a merchant, Someone came into my store and got my information when we were very busy not knowing what they were up to.I tried for 3 years for them to stop the charges and they never did. I spoke to someone on the phone but they will only refund me a portion of my money. TSYS has so many features, big and little, that are useful to small businesses. Every monthly, annual, and incidental fee you might be responsible for will be disclosed somewhere in the fine print of your contract. For instance, first their fax machine didn’t work and then they couldn’t find my email and then they said my cancellation letter wasn’t done correctly. I have cancelled our account. Only then did I get an actual phone call back from an actual supervisor, promising me he’d solve the problems. Opinions expressed here are author’s alone. If you’re considering TSYS Merchant Solutions for your credit card processing needs, this review provides information on TSYS’s rates and fees, contracts, equipment, and security as well as an explanation of what you can expect if you work with TSYS through CardFellow. Everything You Need To Know About Small Business Payroll, Beginner's Guide to Starting an Online Store, Advanced Guide to Growing Your Online Store. View All num of num Close (Esc) TSYS Merchant Solutions. First incident Ray went Chase told them not to release funds from his account. Andrew’s father, an equity fund manager, taught him the ins and outs of investment financing and owning and operating a successful business. TSYS has put together a processing system that can do almost anything. We have had repeated problems with them. They do not tell you up front that you are signing a three year committment and that they will charge you $399 to close the account if you stop using their service before the three years is up. Take a look at our Merchant Account Comparison Chart for some recommendations. In May 2019, Global Payments, another very large direct processor from Georgia, announced that it was acquiring TSYS for $21.5 billion. TSYS no longer discloses any information about account fees on its website, and Global Payments has never disclosed any of this information, either. Please be warned and stay away from this company, there are so many other processors out there that will be glad that you are doing business with them. If you want great payment acceptance flexibility, secure payments, and access to 24/7 support, TSYS is a great option. They’re a great first stop if you want to compare merchant services, or get a good idea of what kind of products a merchant services company can offer. Also we don’t lease terminals anymore. Maybe they know hundreds of accounts will be leaving soon so they figure what the hell. However, we’re a little disappointed that one of the largest processors in the country still doesn’t offer EMV-compliant card readers for mobile processing or use with its virtual terminal software. We love Fattmerchant's predictable pricing and excellent service. Our reviewers praised TouchBistro for a well-designed UI, easy to use format, competitive monthly cost, and numerous integrations. Needles to say after many many calls and run around they finaly switched out account, after the 10k was charged. They charged me for 3 years a monthly fee and don’t know why I never signed up with them. BigCommerce Vs Shopify: Which Is Better For Your Business? Fundera is one of our top picks for SBA loans! This year they’ve endorsed Worldpay, but after reading their reviews on this website (thank you, thank you, thank you for existing!) All information is subject to change. They have over $4,000 of mine and they will not release it. Although located in Idaho, I help customers all over the USA. This is the ripoff company . I made another review down below, i am so pissed off. There are processing companies out there with more modern pricing practices that will not only give you the features you want but may also save you money in the process. They start off promising everything and talk about low rates but in the end the rates creep up incredibly high and they find all kinds of ways to charge you additional fees and then when you try to cancel they give you the runaround. Too big to care. Looks like I have to take them to small claims court in my local area to try to get over $1600 in back charges recovered. However, if you do not buy your machine from them you cannot get the sticker with the merchant ID, etc printed out to go on the machine. Most providers offer two to three ways to accept payments, but TSYS really goes above and beyond: With all these different payment options, you can process a credit card however you want whenever you want. Many say they were given a competitive processing rate only to have their supposed savings swallowed up by various fees. Taking $5,000 per month or less in card payments? All Rights Reserved. I finally called again and pushed the button that says “if you’re thinking of closing your account, press #X”. Never have I had a problem with them just TSYS. While this is an issue with most merchant account providers, it’s particularly acute with a company as large as TSYS. Stay far away.Please go somewhere else…They do not care about you at all. They’ve always tried to charge me for a machine but I insist on getting them for free and they comply in the end. Gary DeForest, DC. Easily find PPP/SBA loans alongside other financing options. A free inside look at company reviews and salaries posted anonymously by employees. They can’t call back like they say. You also mentioned we are best for bigger merchants, which is true, but we can also be highly competitive in our smaller merchant offers. I understand i must pay the monthly bill for the service but the extra fees are rediculous. You’ll be audited, and any fees or fines related to the PCI or card issuers will be taken care of. This comment refers to an earlier version of this review and may be outdated. TSYS merchant services has been quite slow getting the money to us without any explanation. The customer service is rude, and could care less if you are unsatisfied with what they are doing. . Overall, this is an impressive performance. We are not perfect, as every company has issues, but our low level of complaints mentioned, and a worlds most ethical company award again in 2013, may sway you to give us a chance to earn your business. We listened to the merchant and their complaints about the non cancellable leases. The first, which will be the focus of this review, is its direct sales channel called “ TSYS Merchant Solutions.” The second is its processing platform, “ TSYS Acquiring Solutions.” They rip you off every way they can. Even if you don’t fall under PCI Compliance Rules (by not storing CC numbers), they still charge you an additional $40 a month for not being PCI compliant. We considered a merchant account with TSYS, but after they jerked us arround during the application process we told them we wouldn’ use them. 1 Photos. They actually laughed at me when I was expressing my frustration with their practices. “ I have had other companies before and TSYS has been the best provider for my business. Do not use TSYS. Please call me if you have any questions about setting up a merchant account and I will shoot you straight. Ironically, the company was recently selected by the Ethisphere Institute as one of the World’s Most Ethical Companies for 2018. Highly recommend going anywhere else. Regardless of what type of pricing plan you have, all merchant account contracts with TSYS include a standard three-year term and an automatic renewal clause that extends the contract in one-year intervals after that. Brex Card has $0 in annual fees. Like almost every processor in the industry, TSYS wants you to believe that it doesn’t charge any “hidden” fees. We’d also like to see TSYS expand its self-help and educational resources on its website. When I closed my account with them they continued to charge me month fees . Organization Name: The Fabulous Flower Market. As a point of comparison, the largest processor in the country, Fiserv (formerly First Data), has over 1,000 BBB complaints. At a bare minimum, you’ll have to return the equipment promptly if you close your account to avoid being charged an inflated fee for the machine. They use the CCD electronic debit methods to rip you off and be sneaky. TSYS sounds good at first, but it’s a big mistake that you will regret. Run as far as possible from this company. We’ve touched on a number of the great features offered by TSYS already, but there’s still more to be said. Our latest monthly fees crept up to $85. Really unprofessional and crooked. Not only can its reps help you solve any outages or answer your questions about the system, but they can also help you integrate your new or existing point-of-sale system into TSYS processing. Read employee reviews and ratings on Glassdoor to decide if TSYS Merchant Solutions is right for you. This feature is mostly self-explanatory, but access to support cannot be overemphasized, especially if your business does a lot of processing outside of normal business hours. 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