Reviews

This company has gone downhill ever since they got purchased by ****. They went from great customer service to almost nonexistent. They used to have simple fees and were interchange with out markup. Now they weasel all sorts of fees without notice. We've been a customer since 2019 and we process a lot of high ticket items that range from $30-50k per transaction. The company recently flagged our account for processing too much so we asked them to raise our limits and provided all of the necessary documents to make the happen. We asked to allow $60k transactions (Keep in mind we've been with Payment Depot for 5 years and never had an issue or chargeback). We provide them with bank statements showing we do a lot of volume only for them to come back saying "the credit team is comfortable with increasing the Average Ticket to $6,500, Monthly Volume to ******, and the High-Ticket limit to 20k." Why the heck am I going to pay a company that doesn't listen to our needs. We gross over $5 million annually in sales, process $150-200k a month in card transactions and have been doing this for 5 years with Payment Depot only for them to choke us last second. They just lost a long time loyal customer.

We just started out with SwipeSimple about two weeks ago. We have only made 3 invoices for 3 different customers. The last 2 customers invoices, were never received into our bank account as promised within 2 days. I then receive an email stating that Paysafe is closing our account due to actual processing observed is inconsistent with expected. After finally getting ahold of the risk department, they state that they cannot tell us the reason why the money is being withheld. Basically not giving us any explanation for why they took thousands of dollars from our customers/us and that it could take up to 6 months for them to release the money IF all is cleared. I dont understand what is going on, but I need my money back immediately and some explanation of what and why this is happening please. Thank you.

Quite literally the worst payment processing experience in 20 years of business. We signup up with payment depot and they allocated ********** was our processing bank, we used this new account and charged 20K in the first couple of weeks. When we checked we had received no deposits. When we reached out, we could not reach the processing bank, instated they park a 3rd party call center called Stax between the customer and the processing bank. You cant speak to payment depot, its only Stax you can communicate with. Our funds were frozen for ************************************************************ the application / merchant agreement (transaction limit of 5K). If you charge high dollar amount transactions, DO NOT USE THIS MERCHANT SERVICE. They WILL freeze your funds. They will refuse to communicate with you about the status of releasing the funds. Do NOT be seduced by their fee structure like we were. As I read in another BBB review here, pay the extra 1% and sign up with a reliable bank that will not s**** over your small business!

We are a small business and are using Payment Depot our as our card processor. We have been in business for over 15 years, and while COVID has significantly impacted our business (we are off 85%!), we have managed to hold on. Payment Depot uses Fiserv to process their payments. On Monday March 28th, we received an extraordinary order from a client who requested that we provide our services to several hundred of their client's, for a sale of over $36,000. They wanted to place the charge on their Amex. We processed the card, but the payment was declined. No wonder. I am sure large amounts will require confirmation. We encouraged the client to call Amex, which they did, and the charge was then approved! Normally we receive our merchant payments in two days. We received a notice from Payment Depot that the funds had been released, but they did not appear in our account. Naturally, I contacted Payment Depot and was advised that Fiserv was holding the funds pending an investigation. In the interim, Payment Depot withdrew an additional $960 from our account for processing this transaction, but to this day we have still not received the corresponding funds! Not only did Fiserv not pay us for this one approved transaction (and have continued to approve all of our sales in the interim), they have not paid us on ANY transactions for now over a week! We are owed in the neighborhood of $40,000!!! All Payment Depot/Fiserv had to do, when they received the initial charge, was to immediately reject it. We go back to my client, "Our bank won't accept the charge," and get ACHd the money, into our account the same day. And it would have saved us $960, the amount Payment Depot/Fiserv also withdrew from our account to process this, adding more insult and injury to our business. We would have been even happier if they had rejected the charge outright! We would have even given them a "Thank you!" for our savings! Instead they withhold ALL of our receipts for now over a week! Thugs!