C&H Financial Services is a provider of merchant accounts that has been operating since 2008. They provide an array of options for handling payments to businesses in the United States that fall within the usual level of risk. Their offerings encompass the acceptance of payments, systems for processing transactions at the point of sale, advances of funds to merchants, processing of checks, and programs for the issuance and management of gift and loyalty cards.
Background and Affiliations
C&H Financial Services was established by an experienced industry leader in the field of payment processing. The company has formed strategic alliances with prominent financial institutions such as First Data (now Fiserv), Priority Payment Systems, and Merrick Bank. In 2015, C&H Financial Services completed the acquisition of Regal Payment Systems, which expanded its market presence and capabilities.
In the year 2023, Priority Payment Systems acquired C&H Financial Services, indicating a merger between the two entities. This development implies potential changes and integration between the organizations. As further details emerge, the impact of this acquisition on C&H Financial Services will become more apparent.
The company has positioned itself as a provider of comprehensive payment solutions, catering to the diverse needs of businesses across various industries. Through strategic partnerships and successful acquisitions, the company has endeavored to broaden its market reach and offer a wide range of services to its clientele. The following sections will delve deeper into specific aspects of C&H Financial Services, including customer feedback, legal considerations, pricing structures, and transaction rates. This will provide a comprehensive analysis of the company’s operations and performance.
Complaints and Customer Experiences
Analysis of Customer Complaints
Common Issues Raised by Customers
After careful examination of customer feedback concerning C&H Financial Services, it becomes apparent that several issues have been raised by clients. These concerns include:
- Unprofessional sales practices: Some customers have reported instances of unprofessional conduct exhibited by sales representatives during the service acquisition process with C&H Financial Services.
- Unexpectedly high fees: Numerous customers have expressed dissatisfaction with the fees charged by the company, as they were higher than their initial expectations.
- Excessive early termination fees: Certain customers have lodged complaints regarding substantial early termination fees imposed by C&H Financial Services when they opted to discontinue their services.
- Inadequate customer service: Several customers have voiced their disappointment with the quality of customer service provided by the company, citing difficulties in reaching support representatives and a lack of prompt resolutions to their issues.
- Negative working environment for sales contractors: Some complaints have indicated an unfavorable working environment experienced by sales contractors affiliated with C&H Financial Services.
By examining these various aspects, we aim to provide a comprehensive analysis of the operational performance of C&H Financial Services.
Customer Service and Support
Based on the experiences shared by customers, it seems that C&H Financial Services faces a notable deficiency in live customer support. Customers have consistently expressed their frustration with the challenges they encounter when attempting to promptly reach the company’s support representatives.
Assessing the Severity and Validity of Complaints
Taking into account the relatively low number of online complaints, reported to be fewer than 10, it appears that the severity of these complaints may not indicate a widespread issue. However, it is crucial to acknowledge that the concerns raised by customers encompass a range of different aspects related to the company’s services. This indicates the importance for C&H Financial Services to address these specific concerns to enhance overall customer satisfaction. By proactively addressing the various issues highlighted by customers, C&H Financial Services can work towards improving its services and ensuring a more positive customer experience.
Steps Taken by C&H Financial Services to Address Complaints
While specific information about the steps taken by C&H Financial Services to address customer complaints is not explicitly provided, it is reasonable to assume that, as a responsible merchant account provider, the company has implemented measures to handle and resolve such issues. Taking prompt action to rectify any problems raised by customers, improving customer service channels for better accessibility, and ensuring transparency in fee structures would be beneficial steps for C&H Financial Services to enhance overall customer satisfaction and effectively address the concerns highlighted in the complaints. By proactively addressing these matters, the company can demonstrate its commitment to customer care and work towards improving the overall customer experience.
Lawsuits and Legal Concerns
In 2023, C&H Financial Services is facing a pending lawsuit due to allegations of inaccurate bookkeeping practices, which resulted in financial difficulties for a client. Dissatisfied clients who prefer not to pursue litigation have the option to report their grievances to the appropriate supervisory organizations.
Fees and Rates
Understanding C&H Financial Services’ Fee Structure
- Transaction Fees: Specific details regarding C&H Financial Services’ transaction fees and recurring fees are not readily accessible. Clients should expect some variability in these costs, as they may differ based on specific circumstances and agreements.
- Monthly Maintenance Fees: C&H Financial Services imposes both monthly and annual fees; however, the exact amounts remain undisclosed. Clients should be aware of the presence of these fees and inquire further to obtain specific information regarding their respective amounts.
- Processing Rates: C&H Financial Services offers a range of processing rates, spanning from 1.00% to 4.99%. Unfortunately, additional information regarding the precise details of these rates is not provided. Clients are encouraged to seek further clarification to gain a better understanding of the specific rates applicable to their business.
- Equipment Leasing: Clients who enter into a three-year contract with C&H Financial Services will also be engaged in an equipment lease facilitated by First Data Global Leasing. This arrangement allows for the provision of necessary equipment during the contracted period.
Comparing C&H Financial Services’ Fees with Industry Standards
The presence of customer complaints concerning significant early termination fees and unanticipated expenses, coupled with the standard terms found in the contract with First Data (Fiserv), suggests that C&H Financial Services’ pricing may not be as competitive as other merchant account providers that offer more cost-effective rates.
Transparency and Clarity in Fee Disclosures
To promote transparency, it is recommended that C&H Financial Services enhance its provision of clear and detailed information regarding transaction fees, recurring fees, processing rates, and other associated costs to its clients. By improving the disclosure of fees, customers will be better equipped to make informed decisions regarding their choice of services.
C&H Financial Services’ Affiliations and Partnerships
Partnership with First Data (now Fiserv)
C&H Financial Services has formed a partnership with First Data (now Fiserv) whereby it operates as a reseller of their payment processing services. This collaboration enables C&H to offer its clients payment processing solutions utilizing the robust infrastructure and advanced technology provided by First Data. By leveraging the resources and expertise of First Data, C&H Financial Services can deliver reliable and efficient payment processing solutions to its clients.
Affiliation with Priority Payment Systems
C&H Financial Services has established an affiliation with Priority Payment Systems. In 2023, Priority acquired C&H Financial Services, indicating a closer relationship between the two companies. The acquisition implies that Priority is integrating C&H Financial Services into its operations, although specific details regarding the extent and nature of this affiliation are not available at this time.
Connection with Merrick Bank
C&H Financial Services maintains a connection with Merrick Bank, although the specific details of this connection are not explicitly outlined in the available information. Merrick Bank may play a role in supporting certain aspects of C&H Financial Services’ operations, such as providing banking services or contributing to the financial infrastructure utilized by the company. Further information is needed to ascertain the exact nature and extent of the relationship between C&H Financial Services and Merrick Bank.
Acquisition of Regal Payment Systems
In 2015, C&H Financial Services completed the acquisition of Regal Payment Systems, showcasing the company’s strategic growth and expansion within the payment processing industry. This acquisition suggests that C&H Financial Services aimed to broaden its capabilities by gaining access to new resources, technologies, and a larger client base. By integrating Regal Payment Systems, C&H Financial Services has likely enhanced its service offerings, further strengthening its position in the market.
C&H Financial Services Customer Support
C&H Financial Services offers customer support through a toll-free phone number, which can be contacted at (855) 600-2437. While the overall number of complaints is low, suggesting a generally positive customer experience, the current customer support options may not position C&H Financial Services as a top-rated processor in terms of customer service. To enhance customer satisfaction, C&H Financial Services should improve and expand its customer support channels. This could involve introducing additional support options such as online chat or email support, which would provide clients with more accessible and convenient means of obtaining assistance and addressing their inquiries. Clients are encouraged to utilize the provided toll-free number to reach out for any assistance or questions they may have.
Bottom Line
C&H Financial Services is a provider of merchant accounts, offering a range of payment processing services such as point-of-sale systems, check processing, and gift card programs. However, customer reviews of the company are mixed, highlighting several areas of concern.
Some clients have reported unprofessional sales conduct, higher-than-anticipated fees, and inadequate customer service. Furthermore, the company is currently facing a pending lawsuit relating to alleged inaccuracies in bookkeeping practices. Before considering their services, prospective clients should thoroughly examine the company’s fee structure, contract terms, and customer support options. It is crucial to evaluate factors such as affordability, transparency, and customer satisfaction when assessing C&H Financial Services as a viable payment processing solution.
