international bancard review 2022

International Bancard Review 2022

International Bancard was founded in 2001 by David LaFrate in Clawson, Michigan. He is still the CEO of the company more than 20 years later. The provider partners with a multitude of payment processors to provide a diverse variety of POS and virtual terminals to its clients. After this review, you will have a better understanding of the pros and cons of International Bancard. 

Based on reviews and information found on the internet, it is believed that International Bancard either resells Global Payments services or relies on them for payment processing. The merchant service provider is an ISO of BMO Harris Bank and Wells Fargo Bank, and is affiliated with Poynt and Clynt. International Bancard offers POS solutions from Poynt and Clynt as well.

Services of International Bancard

International Bancard provides merchants with a series of standard services, most of which are described on their official website. Below is a review of the provider’s typical offerings:

Payment Processing

International Bancard provides payment processing solutions for its customers ranging from credit and debit card processing to eCheck and ACH processing. However, it is worth mentioning that International Bancard is not a direct processor but instead uses the services of Global Payments to satisfy the processing requirements of its customers.

Payment Gateway and Online Payments

With their ability to receive payments over the phone, through mail, or eCommerce, payment gateways are a necessity for the success of a business in the modern era. International Bancard’s payment gateway is provided by Global Payments as well. 

Gift Cards and Loyalty Programs

Merchants can receive specialized gift cards from International Bancard, with electronic or physical gift card options available. Merchants can use the cards to promote brand loyalty, which will help businesses gain and retain customers in the long run. 

Products of International Bancard

Like many standard merchant service providers, International Bancard offers basic business tools to its clients through third-party providers. As previously mentioned, International Bancard utilizes the hardware of Poynt and Clint. The standard offerings are:

Point of Sale Systems

POS systems are essential for in-person cashless transactions. Most POS systems can be upgraded with a cash drawer, making them a complete payment solution. International Bancard offers traditional and wireless POS terminals that can be used for all types of transactions, including magstripe, EMV and NFC. 

Mobile Payment Systems

Mobile payments are essential if your business involves payments in the field or on the go, and International Bancard offers this feature to its clients as well. Payments can be taken on the go using a mobile device, tablet or mobile card reader. The card reader and software offered by the company enables the processing of sales, refunds, and reporting of essential sales data all on your smart device. 

Contract Terms and Pricing

A review of International Bancard’s pricing model shows tiered pricing, and merchants can expect to be charged from 1 to 4.99% per transaction. They do not disclose their PCI compliance or gateway fees on their website, but merchants will likely pay these fees as well. Since the company relies on resellers for new customers, pricing is likely to be open to negotiation.

The company offers a three-year contract to every client, which will automatically renew once the term is over if merchants fail to inform International Bancard of their cancellation in advance. There is also an early termination fee of $600 in the contract, or the maximum allowed by state law, whichever amounts to less.  

Setbacks of International Bancard

Each merchant service provider has its set of qualities and offerings, but their effectiveness is still measured by the quantity and nature of complaints against them. Here is a review of some of the most common problems merchants have encountered:

Sub-par customer support

Even though International Bancard lists multiple support numbers on their website, their customer support has a bad reputation. One customer review reports a very unsatisfied merchant who received unaccounted for charges from the provider, and there are many complaints of massive delays in customer service for no apparent reason.

Uncomfortable contract terms

The company offers a standard, three-year contract with an automatic renewal clause to their clients. Most would prefer to opt for a month-to-month agreement if they could, as such a long legally binding contract can be suffocating. There is also an astonishing $600 cancellation fee, which is above average for the industry.

Reliance on resellers

International Bancard seems to rely significantly on resellers and there are a few complaints regarding the practices of their sales team. ISOs are not always trained well and sometimes intentionally hide fees from merchants. Several merchants claim that the reseller did not disclose the $600 early termination fee at the time of the agreement. Other related complaints include rude telemarketers and unethical sales practices. 

Difficult Cancellation Process

One client complaint claims that they received satisfactory service until they handed in their cancellation notice 60 days before the automatic renewal of the agreement. The company cancelled their services and assessed a $600 cancellation fee. Upon talking with customer service, the client was promised a refund but was only refunded half the amount, stating they would receive the other half at the end of the contract. Later, the provider claimed they never received a fax for cancellation and renewed the contract for another year. 

Verdict

We have covered all the information you need to make a wise decision in this International Bancard review. While International Bancard isn’t as bad as several other processors in the industry, it still cannot compete with other top merchant service providers. If you’re considering using International Bancard for your business, take a moment to investigate reviews from other processors as well. A three-year contract is a huge commitment, and you should have all the necessary information before signing any paperwork.