Vantiv Review

Vantiv Review

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Overview

Initially known as Fifth Third Processing Solutions, Vantiv happens to be one of the largest processors in the world working from out of Ohio. It was established in the year 1970 under the name of Midwest Payment Systems. It got changed to Fifth Third and then finally to Vantiv. Because of their long existence, these big sharks have bagged quite a number of merchants under them going up to thousands.

Despite the huge number of merchants they are dealing with, these guys have escaped negative feedbacks from their customers thanks to their hard work and efficient working. If you look up their BBB profile, you will see the proof there. Several readers may counteract that by saying it’s the name changing that has kept them away form the dirt of complaints but even if your research on their previous names, there is not much negativity out there about any of the previous names.

Vantiv is a commendable name and a reliable one. If you are looking for reliable companies to deal with, this one is highly recommended to you. They offer you a contract of three years which has a termination fee of $295 on it but you can have that waived off easily by requesting to their representative. If you are a better negotiator, there is a possibility that you can earn a contract without any termination fee for early departure.

All in all, Vantiv easily lands itself 4 stars out of 5.

Date Established:
Formed in 1970 as Midwest Payment Systems. Changed name to Fifth Third Processing Solutions in mid 2000s, then changed name again to Vantiv in 2011.

Location:
Cincinnati, Ohio.

Domain Name(s):

  • www.vantiv.com
  • www.ftpsllc.com

Parent/Partner Company:
Vantiv is the parent company (formerly known as Fifth Third Processing Solutions). They own National Processing Company, Jeanie (ATM network) and SKIPJACK (payment gateway).

Type:
Acquirer.

Acquiring Bank(s) (Acquirer):
Fifth Third Bank.

Payment Processor(s):
Vantiv is a direct processor, but has been known to work with TSYS as well.

Payment Gateway(s):
They have their own payment gateway called e-Commerce Plus. They also can set you up with SKIPJACK, TrustCommerce or Authorize.Net.

Trust Symbols:
You can find the Vantiv BBB profile here. They have an “A+” rating with 15 complaintsas of this update.

Negative Reviews/Complaints:

As mentioned before, Vantiv has not been receiving a lot of negative remarks; something that is remarkable considering the size and the duration of the company.

Common Complaints:
None found.

Verifiable Testimonials/References:

If you have plans of opening up an account in Vantiv, then you can do a little background check by going through their testimonials and references posted online on their website. They tell you their victory and success tales and by none other than renowned finance companies who got their own processing done by Vantiv.

Security/Privacy:

Upon their initial contact, they do not offer any online security measures considering that they are asking for trivial information like your name or age. It is on the later stages when sensitive detail such as SSN is being asked for that they redirect you to third party security application in order to protect your privacy. Another way is through fax; easily manageable.

Customer Service:

Vantiv has their representatives available 24/7. They offer you their support and services, answering your queries and questions and providing you with solution to your problems. You can call them at any time and have your issues resolved.

If in the past years you have worked closely with Vantiv, then do let us know what your opinion is. It would be highly appreciated.

Contract Duration:
3-years (auto-renewing).

Cancellation Fee:
$295.

Interchange-Plus Pricing:
Interchange-plus is offered by Vantiv.

Seasonal Downtime:
Seasonal downtime is also offered by Vantiv.

Product/Service Offering:
Retail (Credit/Debit), Online/e-Commerce Payments, Mail Order/Telephone Order (MOTO), Wireless, Mobile, ATM, Recurring Payments, Check Processing, Gift & Loyalty, Point-Of-Sale (POS).

Product/Service Specialty:
None.

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10 Comments

  1. DO NOT EVER work with this company!!
    This is a very dishonest company!! actually the worst I have ever worked with.
    They kept taking money by “mistake” from my account. Every single time a “mistake” happened I had to call this company to get reimbursed and argue about it for hours!
    The sales person also lied about many things before selling her products, after the sale never answered the phone anymore.
    I will have to close my business account to stop these thieves from taking my money.

    Do not read it and think it is just one more complaint from a frustrated customer and that this is not gonna happen with you. It will!

    TERRIBLE COMPANY TO DO BUSINESS WITH! do not recommend to anyone!

    • Horrible, Horrible, Horrible company. I belong to a credit union who uses them, I had fraud on my bank card the transaction was for train tickets in PERU. I was notified by a text message that a charge was trying to go through on my card and for me to respond if it was me trying to do it, I answered this message within minutes that it wasn’t me and they still allowed it to go through. They then shut down my card and I was instructed by text to go to my credit union. I went to my credit union and was told this happened to at least 20 other members over the weekend. They didn’t catch this odd transaction happening when a pattern was set 20 people at least from the same credit union in the same country for the same railway station, come on a RED FLAG should have gone up and they didn’t catch it. I had $249 removed from my account for a week then they wanted a detail document filled out, which I had the credit union fill out and fax back, then 3 weeks go by and I receive a letter in the mail stating it was me that charged the tickets for the rail in PERU and that they were going to take the $249 back out of my account because they had proof from the vender in the form of the 3 tickets that were bought, all in foreign names. My name didn’t appear on any of the tickets and they are going to take my money back out of my account, these people obviously do not do their homework and are incompetent to say the least. I have no faith in this company and will tell everyone I know that has a business NOT to do business with this company. I feel like they took the money from me so that they didn’t have to eat the $249 for a mistake they make at least 20 times. My advise do business with a different company. Oh and not even an apology!

  2. This is the worst company you can choose for your processing solutions. They did the same to us, kept taking money out of our account by “mistake” and we had to wait for months to get it back. I know what I am talking about because we have been customers for many years. I am still fighting with them, don’t get any reply from the person responsible and I am fed up now. We will close our business account at Fifth Third Bank to finally get off the hock of VANTIV. Never ever again!!!!

  3. It started Sunday morning, which I woke my boys up early and we went to eat breakfast which I used my CC without an issue. After that, we went to the local grocery store, HEB, which I got to about every Sunday for years. As we tried to check out, HEB declined my card with the error message “invalid number” 2 times. I used (was forced) my BOA credit card instead of my Frost Bank card which pulls from my checking account (Frost is the card that was declined).
    Being that it was Mother’s Day, we came home and celebrated it with my wife. I actually forgot about the issue totally as I thought the invalid number error might have been an isolated incident and that my card has worked for breakfast.
    Later that evening, my wife listened to the messages on the home phone. At this point she said there was some call about our CC and that is when I remembered the issue at HEB and told her about it. Concerned she called the #, and of course they wouldn’t speak to her.
    She handed me the phone, and I was engaged in conversation asking for my information, including name, 7 digit code which was provided on the voicemail they left, and the last 4 of my social security number. I explained I had no idea who I was speaking with and I was not going to provide the SS# information. I was told back they would not provide me any information till I gave them my last 4 of my SS#. At this point, I began to doubt the intent of the call to free my CC from any type of hold and that it just might be a scam.
    I asked the person I was speaking with for their company name; I was told it was Vantiv. I said there is no mention of this company on my CC, why are they putting a hold my CC, I asked? I was told that I was not going to told anything till I gave my SS# info to them and that my financial institution worked with them. I asked him who was my financial institution and was told he would not provide that information to me. He quickly said this call has become unproductive (common theme) and he is disconnecting.
    I called right back and spoke this time with Kandice Moore, as I asked her for this information after providing my name. Same thing, stalled with the SS# question as I wasn’t going to give it still. I asked to speak with a supervisor and was instead disconnected.
    Called back a 3rd time. Again same thing, stalled at the SS# question and I again asked for the person’s name. I was told it was “Moon”, yes Moon, and I even asked her spell it. I asked for her last name as I was going to report these calls to her company, even though she was actually the most reasonable person I had spoken with yet. Her response was to me “I don’t want to give you my last name because I’m scared you might look me up on Facebook”. Uh… yeah right…
    While comical that we are here right now, that was NEVER my intent and I explained this as I was taken aback actually that not only was I being treated like I had done something wrong this entire time, I was now also a stalker…
    Getting past this… I asked to speak with her supervisor (again) and was told it was Ben and he wasn’t avail at the time and she needed more info. I provided all my info again except my SS# info and as she tried to drag the call on and on, I eventually stopped answering her questions and only wanted to speak her Ben, the supervisor.
    FINALLY thinking I got to a supervisor, Ben got on the line. Explaining to me what all the others had explained and that no info was going to be provided to me, even why the card was placed on hold, vs unlocking my card. I asked for Bens last name, and I was told he would not provide me with that.. I guess my stalking???? I asked for an employee number which was provided to me… 1124308
    I would not bet money this number is good, but it was what was given. Then I asked about Vantiv. I had searched google while on hold for Vantiv and frost bank and found nothing.. So I went to the wiki for Vantiv and found you are a publicly traded company.
    I asked Ben if he worked for Vantiv and he said yes. I asked him if it was a publically traded company (more for my information to see if he was a scammer or really worked for you) at this point, he said the call had become unproductive and before I could say another word, he hung up on me. 3rd time…
    Final time.
    This time I called my bank and spoke to a rather pleasant gentleman who asked me for my name, my CC#, and my zip code and unlocked my card without any of my SS info. WOW, really Vantiv? So I asked him about Vantiv and he knew of you and that you ran the fraud protection dept. for Frost Bank… I explained to him what happened and honestly, I told him Frost is too good of a bank (they really are) to be dealing with Vantiv. It was explained that my HEB purchase was what triggered the fraud alert.
    Keep in mind again that I go to HEB (grocery store) weekly on Sundays almost every week for the last 5 years or more… This was not some FRAUD… There is nothing I can note that is odd about this.
    Its close, same city, one of 3 I go to, and its habit, yet your fraud protection somehow got enabled by this purchase.
    Keep in mind I work in IT and have been a system administrator for 17 yrs…
    This appears to me to be fraud on your part.
    However your system detects fraud it is not working or is designed to detect fraud to charge Frost bank for this detection regardless of its Fraud or not.
    Sorry for giving my opinion, but at this point it can’t be helped. I hope I have provided you with enough info for you to fix the issue you have.
    I am not a criminal and/or stalker.
    I do not appreciate being treated as such. And I 100% feel I did not need to provide any of my SS# info to have this problem explained to me and/or fixed as I did not have to provide any of it to my own bank. This is esp. true when your company is not listed in any way with my ban on the cc, their web page, or yours

  4. Agreed, DO NOT use this company….wish you could rate it zero stars. You will have problems, they will NOT help you, they will charge you and leave you holding the bag. On top of that, when you finally get fed up with them and cancel, as we did, they will find a way to disregard all of your problems and still charge you an enormous cancellation fee. Keep looking, there are decent companies to work with out there….Vantiv is not it!

  5. It is starting to looking like we may have to take this company VANTIV to court. VANTIV supports merchant fraud by outsourcing dispute cases in the United States to agents abroad lacking apparent working knowledge of English, then refusing to submit the cases to arbitration. Or their dispute agents may simply neglect to read client supporting documents. Either way, when push comes to shove they are failing to do the job for their customers.

  6. An in-service with your customer service reps might be helpful. They need to learn that if a customer is upset or irate that they should allow the customer to explain their problem, rather than trying to talk over him/her. LISTEN to what the customer is saying! Then, offer solutions. DON’T turn the conversation into a power struggle, which is exactly what the representative who took my call did. Nothing was resolved–my question wasn’t answered, and I was even more agitated after this unpleasant exchange.

  7. This company is TERRIBLE!!! They will steal your money… They will charge you for all kinds of fees. If you don’t close your account when your contract is up, you automatically go on another signed up for two years.. This company are nothing but theives.. Oh and watch out for the annual fees that they do not tell you about when you sign up, how convenient for them.. When you call to talk to someone about your account your on hold for two hours and you can’t get a Sup on the phone they will tell you one will call back in 24-48 hrs well good luck you won’t get a call.. It’s really hard to close your account you have to fax or mail in a close letter and they will constantly tell you they did not recieve it so they can continue to take the fees out your account. I had to put in a stop payment on my account to stop them from taking money out my account.

  8. Worse company ever, holds funds for no reason, not answering phone calls.

    • Hamid – I apologize for the lack of response. If your issue has not been resolved, please reach out at socialmedia@vantiv.com – Lydia

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