Electronic Transfer, Inc. Review

Merchant Maverick's Rating: (5 out of 5)

Last Updated: April 17th, 2010.

Overview:
Electronic Transfer, Inc. (ETI) has been in business for 20 YEARS! That's right, they've been providing merchant accounts for over two decades, and the funny thing is, that I couldn't dig up a single complaint about them. Very impressive!

However, I did have a hard time deciding what kind of rating to give them, because on the one hand, they have a very clean online record, but on the other hand they fall short on a few minor details. A few things that I determined pale in comparison to the fact that they've been doing good business for so long. Those minor issues were:

• No on-site security features (i.e. McAfee, Security Metrics etc...).
• 1-year contract duration w/ $195 cancellation fee.

I talk about both points in their appropriate sections below, so be sure to take a look.

Finally, I'd really like to see ETI with some social media accounts (i.e. Twitter and Facebook). A blog would be nice too. I can tell that they're an old school company, but getting with the times will really help their online image, in my opinion.

With that said, I decided to give ETI a 5 out of 5 for now. All of my reviews are subject to change during any type of update, so if I see for any reason that the rating needs to be dropped, I'll do it. In the meantime, I think they'd be a great company to work with.

Click Here If You Need Help Choosing a Provider

Date Established:
1989.

Location:
Spokane, Washington.

Domain Name(s):
www.electronictransfer.com.

Parent/Partner Company:
Doesn't look like ETI is a subsidiary of any other company.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
Westamerica Bank.

Payment Processor(s):
ETI can set you up with multiple processors.

Payment Gateway(s):
Fast Charge. Do you need help setting up your payment gateway with your website? Click here.

Trust Symbols:
The ETI BBB profile is sporting an "A+" as of this review, with 0 complaints in the last 36 months. Very good!

Negative Reviews:
I didn't find a single negative review.

Common Complaints:
None.

Verifiable Testimonials/References:
You'll find plenty of testimonials on the ETI site, most of which have full disclosure. I went ahead and contacted the ones that I could, and am still waiting for a response. I'll let you know when I hear from any of them.

Security/Privacy:
No on-site security features (i.e. McAfee, Security Metrics etc...). The security issue really depends on what kind of information the merchant provider is collecting from you. If they require you to fill out a formal application with sensitive info like SSN numbers, then they should definitely have some third-party security in place. Sometimes, and in the case of ETI, the application only requires some basic info, then the real application is taken care of by fax or through a secure online app.

Customer Service:
Have you worked with ETI before? Feel free to leave us your review.

Contract Duration:
1-year.

Cancellation Fee:
$195. I heard through the grape-vine that both the contract duration and cancellation fee can be negotiated, so don't be shy.

Interchange-Plus Pricing:
They do offer interchange-plus, but it depends on what kind of business you are, and where you're located. You'll need to provide them with 3-months statements as well.

Seasonal Downtime:
Seasonal downtime is offered by ETI.

Product/Service Offering:
Retail (Credit/Debit), Internet Processing (e-Commerce), Mail Order/Telephone Order (MOTO), Mobile/Wireless, Recurring/Donation Billing, Touch-Tone Wireless.

Product/Service Specialty:
None.

Don't forget to leave your review and rating in the comment section.