Leaders Merchant Services Review

Leaders Merchant Services Review

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Overview:

Established in the years 2000 in Camarillo, California, Leaders Merchant Services deals with eh provision of merchant counts to its clients. They have been in business for over a decade now which has resulted in them acquiring approximately hundred thousand customers.  The company owns two working website through which they operate namely; LeadersMerchantServices.com and RockBottomMerchantAccounts.com.

Considering the sheer size of the company and its life span, Leaders Merchant Services have been target to several negative complaints and feedbacks from its customers. To date, they have 163 complaints lodged against them on BBB and several more on other platforms. It is not really surprising as such things are considered normal when the company reaches to this great a height.

The crux of most of the complaints revolves around bad customer services and hidden fees; if you follow the line of complaints closely, you are bound to notice a trial, a pattern being formed. The websites of Leaders Merchant Services advertises about rates that are lower than what other processors have to offer in market. So low are the rates that one starts to wonder how in the world’s name are they making money and profit?

Usually the companies entice customers by offering low rates that are just too difficult to resist. Sadly, once you have opened you account and you statements start arriving, you will start noticing depletion in your accounts. It is not an uncommon practice but one that a customer needs to avoid. It is not sensible to believe the advertised rates so blindly. Later on, the company starts extracting money from you on the basis of annual fee which costs around $99, PCI compliance fee which is $120 per annum and termination fees in case you decide to deactivate your account before your three years period is up.

On the positive side, Leaders’ Merchant Services is a healthy receiver of complaints. They are not in denial like usual companies. They have a positive attitude towards the feedback they receive and are doing everything in their power to resolve the issues coming up. Unlike several other processors, Leaders have accommodated its customers by refunding them. In short, they are finding solutions to your problems.

Leaders’ Merchant Services is very active through Social Media having accounts on both Twitter and Facebook.

On the rating chart, they land themselves 3.5 out of 5. In future, with positive review the rating can definitely see a brighter side.

 

Date Established:
2000.

Location:
Camarillo, California.

Domain Name(s):

  • www.leadersmerchantservices.com
  • www.rockbottommerchantaccounts.com
  • www.lms-corp.com
  • www.leadersccprocessing.com

Parent/Partner Company:
No parent or partner companies.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
Wells Fargo Bank.

Payment Processor(s):
Leaders Merchant Services is the processor.

Payment Gateway(s):
Authorize.Net

Trust Symbols:
You can find the Leaders Merchant Services BBB profile here. It has an “A+” rating as of this review, with 163 complaints in the last 36 months.

Negative Reviews:

As mentioned earlier, Leaders Merchants Services has received quite a lot of negative complaints. Most of them will be found on RipoffReport, TrustLink reviews and BBB profiles; one of the most reliable resources in such scenarios.

Common Complaints:

  • Hidden fees: Several merchants have been angered by the ‘hidden fees’ they had to pay after initiating an account with Leaders Merchant Services. Since they failed to mention such rates on their websites, the customers were unaware of annual fee of $99 and the PCI compliance fee of $120 per annum. Apart from that, they are required to pay customer services fee as well on monthly basis. Some of the complaints pointed towards merchants paying more during transaction clearing as was mentioned by the company. One has to be clear about interchange plus pricing to avoid downgrading.
  • Poor customer service:  Sadly, Leaders Merchants Services lacks in their customer services. The merchants complained that the services provided by the representative was not up to the mark and very unsatisfactory. Seems like, Leaders needs to train their customer services reps more diligently.

Verifiable Testimonials/References:
The testimonials and references available online on the website can hardly be called reliable as they do not offer full names and businesses by which they were written. Not everybody is trustworthy of what is being provided to them. In order to gain that level of respect and trust, Leaders Merchants Services needs to work on their testimonials and its verification.

ecurity/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc…).

Customer Service:
There have been a bunch of complaints about Leaders customer service. Take a little time and read through the details of the BBB complaints, and you’ll know what I’m talking about.

Contract Duration:
3-years with a 30-day trial period.

Cancellation Fee:

Within 30 days trial period, there is no cancellation fee but if you want to end your contract after the first 30 days before the 3 year period of contract, you will be charged 350 if you cancel within 1st year, and 250$ if after the first year.

Interchange-Plus Pricing:
Interchange-plus is offered by Leaders Merchant Services. Be sure to ask for it.

Seasonal Downtime:
Leaders does offer seasonal downtime, but be sure to work out the terms with your sales rep.

Product Offering:
Retail (Credit/Debit), eCommerce (Online), Payment Gateway, Virtual Terminal, Check Guarantee, Check Conversion, Gift Cards, Mail Order/Telephone Order (MOTO), Business Cash Advance.

Specialty:
None.

 

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