With its main office at 6399 Wilshire Boulevard, Suite 907, Los Angeles, California 90048, 1st National Processing is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California. Paysafe can be found in Westlake Village, California, at 30721 Russell Ranch Rd., Suite 200. Identified as the CEO of 1st National Processing is Bijan Kharrazi. Here is a complete and comprehensive 1st National Processing review by our expert team.
1st National Processing is a Los Angeles, California-based merchant account provider. The inclusion of the eProcessing Network trademark on the previous 1st National Processing website suggests that the company is a rebranded version of Paysafe and eProcessing Network. The website is currently unavailable, though, and it’s possible the business has been acquired by Paysafe or is no longer active. The circumstances will be monitored, and if required, this article will be updated. The company resells products from First Data (formerly Fiserv), Clover, Mynt, and Poynt if it is still operating.
Currently, we can find over 30 1st National Processing complaints, many of which label the business as a swindle or scam. The failure to disclose contract terms, exorbitant cancellation fees, difficulty canceling services, subpar customer assistance, and unscrupulous sales techniques are common concerns. Very few of these complaints received a response from the business, while the owner of one of the ISOs responded to a few concerns to clarify that his office wasn’t the source of these issues.
There are no pending class action lawsuits or FTC complaints against 1st National Processing that we could find. Unhappy customers who want to take the firm to the tribunal should consider reporting the company to the relevant regulatory bodies.
Currently owned by Paysafe, 1st National Processing is listed as a DBA of payment by Better Business Bureau (BBB). Additionally, it keeps several other profiles marked “1st National Processing.” Information from Paysafe’s BBB profile will be used for this section. With 225 complaints in the last 36 months, Paysafe now has an “A+” rating and has been a BBB-accredited business since 2010. Compared to the 24 complaints at the time of our most recent evaluation, this is a considerable increase.
Of the complaints, 105 involved a problem with a good or service, 108 involved billing or collections, 6 involved advertising or sales, and 6 involved delivery. Of these 225 complaints, only 92 were taken care of by the company to the merchant’s satisfaction. The remaining 133 either had no final response or were sorted to the merchant’s disappointment.
In addition, 44 informal evaluations have been left about Paysafe on its BBB profile, which is a significant increase from the amount at the time of our past comment. 42 negative reviews are left behind only 2 good ones. The most current review mentions hidden fees and challenges in breaking a contract:
After two requests for cancellation, my account has still not been closed, and I’m still being charged. I think the best way to address the unethical business practices of this corporation is through a class action lawsuit.
Very unreliable. Consistently, their representatives tell lies. I was informed that I had six months to free-of-charge terminate my contract. I should have known it wasn’t in writing, but I didn’t. They guaranteed that it would be less expensive for me than my present merchant processor. I’m sorry to hear that they are increasing my expenses. I’ve learned a really hard lesson from this. Examine each of your statements in detail.
I do not mean far! Nobody can help me since they are invoicing me at rates that are different from those in my contract. also, undeclared costs It was my responsibility for not knowing better and not paying more attention to little issues while being a stressed-out business owner amid a pandemic. I guess you can’t believe what people say. Read anything they send you several times. They’re now telling me that leaving this situation will cost me $7,000! They shouldn’t even answer their phone when they state their corporate name, thus they ought to have known better.
Businesses should take the proper actions to cancel their merchant account without incurring fees if they are dissatisfied with it.
We have changed the BBB’s rating for the company to a “D” due to its rapidly rising complaint total and subpar resolution rate.
The typical 1st National Processing Contract is a three-year deal with Paysafe that includes long-term, non-cancellable equipment leasing, a minimum monthly payment of $14.99, and an early termination fee of at least $495. Depending on the agent setting up the account, the merchant’s size, the type of business, and the length of operation, some of these terms may change. We also discovered numerous instances of retailers signing expensive, irrevocable equipment lease agreements with 1st National, which is worrying given the claims of slamming.
1st National Processing advertises its virtual terminal and payment gateway services on its website in complement to its storefront payment processing services. EProcessingNetwork powers such online storefronts. The business charges a gateway fee of $0.05 per transaction and a monthly service fee of $10. These e-commerce services frequently have extra rates and fees, tech support service charges, batch fees, and additional transaction rates.
Merchants are urged to read all terms carefully and make sure they are aware of the costs they will be required to pay. Shorter or more affordable contract terms can be available from several 1st National ISOs. In general, merchants shouldn’t anticipate that the company would offer rates that are as low as those of the lowest merchant accounts.
1st National Processing seems to advertise its services through a network of ISOs, sub-ISOs, and other resellers. Due to this strategy, complaints against the corporation have extended to the web profiles of these smaller entities, and only a small portion of all complaints about the company specifically mentions its Los Angeles headquarters (or, formerly, Calabasas).
Currently, we can find about 20 1st National Processing reviews that claim the business or one of its subsidiaries of misleading customers about rates and fees, using aggressive telemarketing tactics, and “slamming” customers. Slamming is an industry term for a dishonest sales technique. It involves a business pretending to be a merchant’s existing processor to sign the merchant up for its services.
The company listed rates on its website as “beginning at 0.15%” as of our most recent update. Because it only mentions the company’s Qualified rate and leaves out the higher Mid-Qualified and Non-Qualified rates that merchants are expected to get on the bulk of their transactions, we view this type of rate quote as misleading.
We are currently giving 1st National a “D” in this category based on the quantity and nature of the company’s complaints. We advise getting a third-party statement audit if you believe the company is overcharging you to identify and get rid of any hidden costs.
Although just over half of the unfavorable reviews of 1st National refer to the firm’s headquarters in Los Angeles, it is our policy to hold the parent company accountable for the actions of its subsidiaries. This is valid for iPayment as well, which most likely handles customer support for 1st National and its ISOs. Although 1st National Processing promises to provide technical help around-the-clock, 365 days a year, this could just be a reference to the First Data tech support line. The organization currently provides poor customer service compared to the best merchant accounts.
All available data evaluated 1st National Processing as a subpar merchant services provider, although it appears that the company is no longer operating. The reason for 1st National’s moderate to high complaint rate and below-average contractual arrangements is that it is either a DBA or an ISO of iPayment. The corporation resells its services through a huge network of sub-ISOs, many of which operate under several trade names.
The corporation spells its name “1st National Processing” rather than “First National Processing,” which is also worth noting. Additionally, 1st National Processing and 1st National Payment Solutions shouldn’t be confused. It is advised for merchants to examine the firms with which they do business and to contrast their rates with those of the best merchant accounts.