Advertiser Disclosure

Payment Depot

Visit Site

Payment Depot Review: Will Payment Depot’s Credit Card Processing Save You Money?

Payment Depot's subscription pricing is simple, affordable, and best for businesses that have a processing volume of at least $10,000 per month.

    Frank Kehl
  • UPDATED

Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

Payment Depot

Visit Site

Taking $5,000 per month or less in card payments?

You’ll save with Square

Frank Kehl

Frank Kehl

Expert Analyst & Reviewer at Merchant Maverick
Frank Kehl has been researching and analyzing merchant services, payment gateways, and international money transfer services since 2015. He has a Bachelor of Science degree from Penn State and a Juris Doctorate from the Ventura College of Law.
Frank Kehl
View Frank Kehl's professional experience on LinkedIn.



⭐️ Our Top Pick To Get Your Merchant Account Approved ⭐️

PaymentCloud



Visit Site

Read our Review

PaymentCloud has an excellent track record for both service quality and account approvals.

⭐️ Our Top Pick To Get Your Merchant Account Approved ⭐️

PaymentCloud



Visit Site

Read our Review

PaymentCloud has an excellent track record for both service quality and account approvals.

Sources

To learn more about how we score our reviews, see our Credit Card Processor Rating Criteria.

128 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Paul Cowan

    Organization Name: Kiwi Diamond LLC

    Quite literally the worst payment processing experience in 20 years of business. We signup up with payment depot and they allocated First Data was our processing bank, we used this new account and charged 20K in the first couple of weeks. When we checked we had received no deposits. When we reached out, we could not reach the processing bank, instated they park a 3rd party call center called Stax between the customer and the processing bank. You cant speak to payment depot, its only Stax you can communicate with. Our funds were frozen for 180 days. We did not exceed the account limits stipulated in the application / merchant agreement (transaction limit of 5K). If you charge high dollar amount transactions, DO NOT USE THIS MERCHANT SERVICE. They WILL freeze your funds. They will refuse to communicate with you about the status of releasing the funds. Do NOT be seduced by their fee structure like we were. As I read in another BBB review here, pay the extra 1% and sign up with a reliable bank that will not screw over your small business!

    1
    • Organization Name: Kiwi Diamond LLC
    K Halek

    Organization Name: Imperial

    A lot of changes in 2022 with Payment Depot by stax. Without notice, they upped our unlimited Premier Plan from $199 per month to $499 per month – quite a large increase! They do not send you a reminder or a link to do PCI compliance but they do charge you $54.95 per month – thanks! After numerous calls to Customer Service and up to 1 hour holding times, they are unable to help. Additionally, the Account Executive assigned no longer provides assistance. After 3 1/2 years of processing 7-figures annually, time to look elsewhere.

    2
    • Organization Name: Imperial

    This comment refers to an earlier version of this review and may be outdated.

    Joey avi

    Organization Name: Eagle movers

    mix feeling, with my Busines in CA , I was very happy with them.everything was as they say . was really no issues .then moved to TX, I contact them again, this time I dealt with two other guys, [Names Redacted] , two clowns basically . they lie about everything . the lie about when you get the founds to your account, the lie about sending you another terminal , they don’t reply emails. rude on the phone. 3 weeks after I am still chasing them. STAY AWAYthe also sign you with a different provider and you not even aware of. STAY AWAY

    1
    • Organization Name: Eagle movers

    This comment refers to an earlier version of this review and may be outdated.

    D Gallo

    Organization Name: Country Mile Gardens

    Simply put if you do any kind of volume Payment Depot will almost assuredly be the cheapest rate you will find anywhere. We have saved $10,000 in processing fees over only 3 months from our previous processor who we believed was pretty cheap. Our effective rate for the past month was 1.77% (no amex) which absolutely blew the doors off of our previous rate of around 2.11% and is comically cheaper than the rates people are mentioning here from square and the like.

    5
    • Organization Name: Country Mile Gardens

    This comment refers to an earlier version of this review and may be outdated.

    Ilyas nazir

    Organization Name: Free fire garena

    I want refund my money I don’t want your service I purchase my free fire topup you deducted my payment but I don’t recieve my topup diamonds so I requst you please refund my money 400

    • Organization Name: Free fire garena

    This comment refers to an earlier version of this review and may be outdated.

    Jessica Dinsmore

    Hello Ilyas,

    I’m afraid it’s unlikely that Payment Depot will see your message here on our blog. You can try calling their support number: 877-877-7668 or you can submit a support request form. I hope that helps you get some assistance. Good luck to you!

      This comment refers to an earlier version of this review and may be outdated.

      Luigi Beltran

      Organization Name: Luigi's Ice Cream

      Payment Depot, as this article stated, is a middle-man. A 3rd party selling merchant services on behalf of a processor. Just a life lesson: If you’re looking for the cheapest anything possible, cut out the middle-man.I made the mistake of going with Payment Depot and ended up with a 4.0% effective rate!! That’s with me paying their most expensive $999 annual plan!I’d be happy to share more of my personal experiences and can be reached at my personal email: [email protected] you and best of luck!

      1
      • Organization Name: Luigi's Ice Cream

      This comment refers to an earlier version of this review and may be outdated.

      Sue P

      we are a small appraisal company. Owner wants me to look into adding the use of credit cards. I have only had maybe 10 or less a year that ask to use one. i have been reading up on your website, and great info by the way. I also read the many, many bad experiences with Square & Paypal so I would not use them. what would be some other options? Thanks.

        This comment refers to an earlier version of this review and may be outdated.

        Jessica Dinsmore

        Hi Sue,

        I’d need more specifics on your processing volume to make a recommendation, but I bet our Credit Card Processor Filtering Tool will be able to get you pointed in the right direction!

          This comment refers to an earlier version of this review and may be outdated.

          Leith Longacre

          I’m opening an art studio for kids. My research shows my average transactions and prices per month as such:
          20 transactions @ $140 = $2800
          100 transactions @ $10 = $1000
          5 transactions @ $20 = $100
          15 transactions @ $40 = $600
          Totaling 140 transactions equaling $4500

          What would be the best CC payment system. I plan on taking payments online (maybe recurring) and at the studio via a mobile CC reader.

          All this info is overwhelming, thanks in advance!

            This comment refers to an earlier version of this review and may be outdated.

            Emily Hale

            Hi, Leith!

            Thanks for your question. We don’t believe that Payment Depot is the best choice for your business, given your relatively low monthly processing volume. You might want take a look at Square, which you’ll find has predictable flat rates. Best of luck!

              This comment refers to an earlier version of this review and may be outdated.

              Aaron Kaeb

              Organization Name: Heidi's Farmstand and Bakery

              I used payment depot for my 2017 season. I was satisfied with them as a payment processor. It was a cut rate processor, and everything about it felt like it (Service hours etc). However, they are are cheap processor and did everything I needed. However, when I moved to Square it was definitely a step in a better direction for my business. With all the fees that showed up on the bill from Payment depot they were very close to the same price as square (2.75%).

              4
              • Organization Name: Heidi's Farmstand and Bakery

              This comment refers to an earlier version of this review and may be outdated.

              Alexander Melnick

              Organization Name: Coffee Holding Company

              Payment Depot made the transition from our initial processor easy and painless. The estimates they provided were both significantly better than our previous processor and ended up being very accurate to the eventual new charges.

              Our salesperson John B. made everything simple and is always quick to respond. I would not hesitate to recommend this company to anyone looking to save money on CC processing.

              • Organization Name: Coffee Holding Company

              This comment refers to an earlier version of this review and may be outdated.

            More Comments

            Comments are closed.

            We Want Your Feedback!

            Help us to improve by providing some feedback on your experience today.

            The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

            Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

            Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

            We recommend Square Credit Card Processing 🏆 Get a free credit card reader when you sign up! Square Payments is a secure and reliable credit card processing platform. Its advanced solutions and broad feature-set makes it a great fit for most businesses. Get Started No credit card required

            Sign up for the Maverick Newsletter

            • Please select topics of interest

            • We occasionally send out emails with special offers.
            • Hidden
            • This field is for validation purposes and should be left unchanged.