CheapestMerchantAccounts.com reviews credit card processor, Elavon

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Elavon Review
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• Elavon is a merchant acquirer out of Atlanta,
  Georgia. They were previously known as Nova
  Information Systems originally founded in 1991,
  however the company went through a rebranding in
  2008 when they reincorporated and have been known
  as Elavon since then.

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• Elavon handles a small percentage of their
  overall portfolio directly, the majority of
  merchants will be working with independent sales
  organizations and agents.
• As a result merchants experiences will vary
  widely depending on who they are working with.
  Our review is focused on what we believe the
  typical floor is for most merchants working
  through Elavon.

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• While different sales representatives may offer
  different options with regards to interchange or
  tiered and varying pricing, things that look to
  be standard across all paperwork we have seen for
  Elavons services include a 3 year contract and a
  minimum cancellation fee of 295.

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• Common Complaints weve found around Elavon
  include
• The merchants signing contracts with what turned
  out to only be introductory rates, and found
  their costs skyrocketing within a few months, or
  they claim to have been mislead or underinformed
  regarding the difference between the qualified
  rates they were shown, and the non-qualified
  rates that most of their purchases were

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• Almost invariably these same businesses also
  claim that they were all locked into at least 3
  year contracts and were forced to then make a
  decision as to whether they should keep paying
  the new more expensive fees or pay a 295 early
  termination costs, to allow them to find a better
  merchant processor.

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• Another issue which is common to many of the
  merchant service providers we have reviewed, is
  small business owners complaining that the rates
  they were sold on were only for qualified
  transactions, and they were not made aware of the
  increases that would occur with both mid and
  non-qualified ones. Make sure you are getting a
  solid handle on which rates in the contract will
  most likely be seen during a typical business
  month.

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• A final warning from former/current customers of
  Elavon is to make sure you clear up any potential
  reserve issues, some businesses found that not
  all of their money was being deposited and that
  Elavon was holding what they deemed to be
  excessive reserves as protection against
  chargebacks.

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• Small business owners considering Elavon need to
  do their due diligence to make sure the ISO or
  agent they are working with are giving them the
  best deal possible and not building out
  extraneous margins that increase their bottom
  line at the expense of your own.

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• Additionally our recommendation if you are
  signing up with Elavon is to visit their website
  directly, as it appears during our research that
  often the complaints lodged against Elavon were
  against individual resellers, so you can mitigate
  the risk by contacting Elavon directly.
• Learn more about Elavon at
• http//cheapestmerchantaccounts.com/elavon/