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Vantiv earns an average score in this section primarily due to its automatically renewing contract in combination with an early termination fee. Vantiv is mentioned in more than 200 complaints outside of the Better Business Bureau, and a few of the complaints describe the company as a ripoff or scam.The complaints fall into four common types, in which merchants report unsavory sales tactics, fund holds, unexpected early termination fees, or poor customer service.Many other dating sites charge for their services and we think that a true love should be 100% free.
Vantiv merchant account agreements appear to vary from merchant to merchant based on several factors, including who set up the merchant account, each merchant’s business type, and each merchant’s processing volume.
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Most multi-thousand-dollar termination fees are actually equipment lease termination fees rather than merchant account cancellation fees, and at least one merchant commenter has claimed that they were signed up for a Lease Finance Group lease alongside their Vantiv contract.
The company also appears to charge a PCI Compliance fee which may be assessed either on a monthly or annual basis and may vary in cost from one account to the next.