C&H Financial Services is a reputable company in the financial services industry, recognized for its extensive payment processing and merchant services. Established in 2008 in Westchester, Illinois, the business has consistently expanded and is now known as a trusted player in the sector, catering to more than 10,000 current customers. The goal of the company is to offer businesses clear and affordable payment options that help them increase profits by cutting down on payment processing expenses.
Led by CEO Anthony Holder, C&H Financial Services is supported by a dedicated team of executives who bring extensive industry experience and strategic insight. This leadership ensures the company remains at the forefront of financial service innovation, continually expanding its service offerings to meet the evolving needs of its clients.
C&H Financial Services offers a wide array of financial solutions, including credit card processing, point of sale (POS) systems, and merchant cash advances. Their services cater to various business needs, aiming to streamline payment processes and enhance operational efficiency. Their comprehensive service offerings include EMV and NFC payment methods, ACH and check processing, and digital solutions like eTab for online ordering.
The company has been honored with multiple awards, such as being named the #3 Top Financial Services company by Inc. Magazine. These acknowledgments highlight their dedication to providing top-notch service and ensuring customer satisfaction within the financial services sector. C&H Financial Services takes great pride in its commitment to offering clear, dependable, and effective financial options that are in line with its values of honesty and prioritizing the customer.
Services and Products
C&H Financial Services offers a comprehensive range of services and products designed to meet the diverse needs of businesses. Their offerings are categorized into several key areas, each providing essential support to help businesses streamline operations and improve financial performance.
Payment Processing
C&H Financial Services provides robust payment processing solutions, including credit and debit card processing. They guarantee safe and effective transactions using EMV and NFC payment methods, which are supported by contemporary payment technologies. Additionally, they offer mobile and online payment options, allowing businesses to process transactions from various channels seamlessly.
Point of Sale (POS) Systems
The company’s Point of Sale (POS) systems, particularly the Impress POS, are designed to enhance operational efficiency. These systems have advanced hardware and software components, such as built-in receipt printers, card readers, and strong integration capabilities. Impress POS systems facilitate smooth transactions, inventory tracking, and reporting, providing a comprehensive solution for retail operations.
Merchant Services
C&H Financial Services excels in offering a wide range of merchant services. They provide ACH (Automated Clearing House) and check processing, which helps businesses handle payments efficiently. Moreover, they also provide gift and loyalty programs to increase customer loyalty and offer high-risk merchant solutions for industries such as CBD businesses, allowing specialized sectors to efficiently handle their transactions.
Financial Solutions
For businesses seeking financial support, C&H Financial Services offers merchant cash advances and small business loans. These financial solutions provide the necessary capital for businesses to grow and manage operations effectively. The application process is designed to be straightforward, allowing businesses to access funds quickly and with minimal hassle.
Digital Solutions
C&H Financial Services also provides robust digital solutions to help businesses thrive in the online marketplace. The eTab service they offer allows for easy online ordering, which is especially helpful for restaurants. Additionally, they offer digital marketing and e-commerce support to help businesses enhance their online presence and drive sales through effective digital strategies.
Chargeback Management
To protect businesses from financial losses due to chargebacks, C&H Financial Services offers comprehensive chargeback management tools. These include dispute resolution tools and chargeback prevention strategies, which help businesses minimize the impact of chargebacks and maintain financial stability.
Overall, C&H Financial Services provides a versatile and robust suite of services and products designed to support business growth and operational efficiency. Their comprehensive offerings ensure that businesses have the tools they need to manage transactions, enhance customer experiences, and secure financial support.
Pricing and Fees
C&H Financial Services provides a range of pricing models that can meet various business requirements. It is essential for businesses to comprehend these fees and evaluate them against industry benchmarks when contemplating their services.
Overview of Pricing Models (Tiered Pricing)
C&H Financial Services uses a tiered pricing model, meaning transaction fees vary based on the type and volume of transactions. This model helps businesses manage costs more effectively by aligning fees with their specific transaction patterns. The tiered pricing structure can benefit businesses with high transaction volumes by potentially lowering overall costs.
Specific Rates for Different Transaction Types
For swiped transactions, the rates typically range from 1.00% to 4.99%, while keyed-in transactions are also within this range. These rates reflect the varying levels of risk and processing requirements associated with different transaction types. Mobile and online payment options are also available, providing flexibility for businesses to process transactions through various channels.
Monthly Fees, Setup Fees, and Termination Fees
C&H Financial Services charges various fees beyond transaction rates. Monthly fees cover account maintenance and support services. Setup fees, though not always disclosed, are usually one-time charges to initiate service. The cost of termination can fluctuate and is determined by factors such as the contract’s duration and provisions for ending it early. These charges are created to safeguard the company from possible financial losses in case a business ends its service contract early.
Comparison with Industry Averages
When compared to industry averages, C&H Financial Services’ rates and fees are competitive but can vary significantly based on individual business needs and the specifics of their service agreement. Although their transaction rates are in line with the industry average, a few customers have observed that the overall expense, which includes both monthly and termination charges, may exceed their expectations. Businesses should carefully review contract terms and consider all associated costs when evaluating their options with C&H Financial Services.
Contract Terms
C&H Financial Services’ contract terms are crucial for businesses to understand to avoid unexpected costs and obligations. Typically, the length of contracts with C&H Financial Services is three years. This duration is fairly standard in the industry but requires careful consideration due to the commitment involved.
Length of Contracts (Typically 3 Years)
Most contracts with C&H Financial Services are set for a three-year period. This long-term commitment means businesses should thoroughly evaluate their needs and the services provided before signing.
Early Termination Fees and Conditions
If a business decides to terminate the contract before the end of the term, they are subject to early termination fees. These fees can vary but are often designed to recoup some of the costs the provider would lose from the premature ending of the agreement. Businesses should understand these conditions clearly to avoid substantial penalties.
Automatic Renewal Clauses
Contracts from C&H Financial Services frequently contain provisions for automatic renewal. Unless the business decides to cancel the agreement before a certain time frame at the end of the contract, it will automatically extend for another term. Businesses need to be mindful of these clauses in order to prevent accidental renewals.
Equipment Lease Terms
Equipment leases, such as those for POS systems, typically come with locked terms, often up to 48 months. This means that businesses are committed to the lease payments for the full duration, even if they no longer require the equipment or services.
Customer Obligations and Cancellation Policies
Customers are obligated to adhere to the terms outlined in their contract, which include maintaining the service for the agreed period and paying all associated fees. The cancellation policies require businesses to provide notice within a specified period if they intend not to renew or wish to terminate the agreement early.
Hidden Fees and Charges
While C&H Financial Services aims to be transparent, some customers have reported encountering hidden fees and charges. This may involve extra fees for specific transactions, undisclosed service charges, and costs for ending the agreement early. It’s essential for businesses to thoroughly review all contract details and ask for clarification on any potential hidden fees before signing.
Customer Support and Service
C&H Financial Services provides a variety of customer support options to ensure their clients can get assistance when needed. Their support is available through multiple channels, including phone, live chat, and email, which allows businesses to choose the most convenient method for their needs. This availability is essential for resolving issues quickly and maintaining smooth business operations.
Availability and Modes of Support
C&H Financial Services offers support via phone during business hours, live chat on their website, and email for more detailed inquiries. These multiple modes of support are designed to cater to the diverse preferences of their clients, ensuring they can get help in the most accessible way possible.
Customer Service Quality and Responsiveness
The quality of customer service provided by C&H Financial Services is generally positive, with many clients appreciating the helpfulness and knowledge of the support staff. Nevertheless, the speed of response may differ, as some clients receive prompt solutions while others encounter extended waiting periods. This inconsistency can affect the overall perception of their customer service quality.
Common Customer Complaints and Resolution Effectiveness
Common complaints about C&H Financial Services’ customer support include issues related to hidden fees and the complexity of understanding their billing statements. Certain customers have also experienced challenges with contacting customer service during busy periods. In spite of these issues, the company strives to efficiently address problems. They have mechanisms in place to address customer concerns and provide resolutions, although the speed and effectiveness of these resolutions can vary.
Customer Reviews and Feedback
C&H Financial Services has garnered a mix of positive feedback and common complaints from its customers. Positive reviews often highlight the company’s comprehensive service offerings and the reliability of their payment processing solutions. Customers appreciate the wide range of services, such as advanced POS systems, various payment options, and robust digital solutions. Many users also commend the quality of customer service, noting that support staff are knowledgeable and generally helpful when issues arise.
However, common complaints include concerns about hidden fees and complex billing statements, which can lead to confusion and frustration. Some customers have reported aggressive sales tactics and misrepresentation of contract terms by independent sales agents, which has negatively impacted their experience. These issues, while not universal, suggest areas where the company could improve transparency and sales practices.
Customer satisfaction ratings for C&H Financial Services vary on different platforms. The company holds an A+ rating on the Better Business Bureau (BBB) website, with a combination of positive reviews and complaints from customers. Google reviews demonstrate a comparable pattern, with some clients commending the service and others highlighting areas of worry.
While C&H Financial Services demonstrates competence and reliability in its offerings, addressing the common complaints and enhancing transparency could significantly improve overall customer satisfaction.
Comparison with Competitors
C&H Financial Services operates in a highly competitive financial services industry, where major competitors include Square, PayPal, and Stripe. These companies offer similar services such as payment processing, POS systems, and financial solutions, making it essential to compare their offerings to understand C&H Financial Services’ position in the market.
Major Competitors in the Financial Services Industry
Square, PayPal, and Stripe are among the top competitors in the financial services industry. Square is known for its user-friendly POS systems and transparent pricing. PayPal offers extensive online payment solutions and robust buyer protection policies. Stripe excels in providing developer-friendly payment processing with extensive customization options.
Comparative Analysis of Services and Pricing
When comparing services, C&H Financial Services offers a comprehensive suite that includes credit and debit card processing, EMV and NFC payment methods, advanced POS systems, and digital solutions like eTab. Their pricing structure, which follows a tiered model, consists of variable fees for transactions that are swiped or keyed-in, as well as monthly and termination fees. On the other hand, Square and PayPal provide simpler pricing structures with fixed rates that are easier for small businesses to grasp. Stripe’s pricing is also competitive but more focused on online and mobile payment processing.
Unique Selling Points of C&H Financial Services
C&H Financial Services distinguishes itself with its specialized services for high-risk merchants, including CBD businesses, which many competitors do not support. Moreover, the Impress POS system also provides advanced functionalities and integration options to meet diverse business requirements. The company’s dedication to offering complete financial options, such as merchant cash advances and small business loans, enhances its attractiveness. Their chargeback management tools and digital marketing support further enhance their service portfolio, making them a versatile option for businesses looking for a holistic financial services provider.
In short, despite competing with Square, PayPal, and Stripe, C&H Financial Services’ unique offerings and specialized services give it advantages that meet a wider array of business needs.
Pros and Cons
C&H Financial Services provides a comprehensive range of services designed to cater to the varying requirements of businesses. Nevertheless, similar to any other service provider, it comes with its own set of strengths and weaknesses that prospective clients must take into account.
PROS
- Comprehensive Service Offerings: Offers a diverse selection of payment processing options such as credit and debit card processing, EMV and NFC payment methods, and mobile and online payment choices to meet different business requirements.
- Advanced POS Systems: The Impress POS system provides strong integration capabilities and a range of hardware and software features aimed at streamlining operations and improving customer experience.
- Specialized Services: Offers high-risk merchant solutions, including services for CBD businesses, which many competitors do not support.
- Financial Solutions: Provides merchant cash advances and small business loans, offering businesses the necessary capital for growth and operations.
- Digital Solutions: Comes with eTab for online ordering and complete digital marketing and e-commerce assistance to aid businesses in improving their online visibility.
- Chargeback Management Tools: Provides tools for effective dispute resolution and chargeback prevention strategies, helping businesses minimize financial losses.
CONS
- Early Termination Fees: Contracts often include early termination fees, which can be substantial and a burden for businesses that need to exit their agreements prematurely.
- Independent Sales Agents: Complaints have arisen due to aggressive sales tactics and misrepresentation of contract terms by independent sales agents.
- Hidden Fees: Some customers have reported encountering hidden fees and charges, adding to their overall costs unexpectedly.
- Complex Billing Statements: Customers have noted that billing statements can be difficult to understand, leading to confusion and dissatisfaction.
These advantages and disadvantages showcase the strengths and weaknesses of C&H Financial Services, aiding potential clients in making well-informed choices.
Conclusion
C&H Financial Services provides complete and dependable financial solutions with cutting-edge POS systems and tailored services for merchants at high risk. Potential clients must thoroughly examine contract terms and fees. The company’s future looks promising, but it needs to focus on improving transparency and sales tactics in order to enhance customer satisfaction.
FAQs for C&H Financial Services
What types of payment processing solutions does C&H Financial Services offer?
C&H Financial Services offers credit and debit card processing, EMV and NFC payment methods, mobile and online payments, ACH and check processing, and cash discount programs. They also provide advanced POS systems like Impress POS to streamline transactions and enhance customer experiences.
How does C&H Financial Services support high-risk merchants?
C&H Financial Services specializes in providing payment solutions for high-risk merchants, including those in the CBD industry. They offer tailored services such as chargeback management, digital marketing, and secure payment processing to meet the unique needs of these businesses.
What additional services does C&H Financial Services provide to businesses?
Besides payment processing, C&H Financial Services offers merchant cash advances, small business loans, gift and loyalty programs, digital solutions like eTab for online ordering, and robust chargeback management tools to protect against financial losses and enhance operational efficiency.
