Eliot Management Group Overview
Eliot Management Group is a Fort Worth, Texas-based merchant account provider that acts as a subsidiary of First American Payment Systems. Unlike other First American Payment Systems companies, Eliot Management Group functions as an independent reseller and does not appear to be a DBA of another business or several other businesses. However, Eliot Management Group is also located at the exact same address as First American Payment Systems, which raises the question of whether it shares offices, employees, or resources its parent company.
Eliot Management Group’s products and services include point-of-sale solutions, check scanning and imaging, merchant cash advance, inventory management, gift and loyalty programs, mobile payment processing, ATM placement, e-commerce solutions, and recurring billing. The company offers a dedicated phone support line but does not list its hours of operation. Brady Harris is listed as the president of Eliot Management Group.
Eliot Management Group is a mid-size merchant account provider based in Fort Worth, Texas. It may be related to several other companies, but its legitimacy cannot be verified.
Eliot Management Group offers merchant services, gift card solutions, ACH transactions, Firstview data processing, check reading, cash advances, Paypal integration, next-day funding, and Optblue from American Express.
Eliot Management Group’s merchant account costs and fees vary depending on the agent setting up the account, and the ability to negotiate low fees.
Besides offering storefront payment processing services, Eliot Management Group also offers its virtual terminal and payment gateway services.
Eliot Management Group charges a $125 PCI compliance fee per year, has a three-year service agreement that automatically renews for one-year terms, and is partnered with Northern Leasing, which has a terrible reputation.
A high number of complaints regarding Eliot Management Group have been filed on the Better Business Bureau. The complaints concern hidden and undisclosed fees, unauthorized debits from checking accounts, inability to resolve problems, difficulty canceling service, and poor customer support.
The company is in the midst of a lawsuit related to its merchant account services with disgruntled former sales employees. It also has a lawsuit related to the Minimum Wage Laws of many states.
Eliot Management Group claims to provide 24/7/365 phone support. However, given the high complaint total, merchants should not expect this phone line to compete with the service offered by top-rated payment processors.
The Better Business Bureau gave Eliot Management Group an “A+” rating based on 27 complaints filed in the last 36 months, and only 4 complaints were resolved to the satisfaction of the merchant.
The company has received 37 informal reviews on its BBB profile. Positive reviews are overwhelmingly positive, but negative reviews are also present.
The BBB assigned the company an “A+” rating even though it only resolved 4 complaints in the last three years.
Eliot Management Group rely on an “agent hiring mill” marketing strategy and heavily relies on telemarketing and appointment setting by telephone.
Customer complaints indicate that Eliot Management Group agents are either poorly trained in the terms and conditions of their merchant account contract or are encouraged to omit important details during the account setup process.
Eliot Management Group rates as one of the worst merchant account providers in the industry according to our rating system. It has received complaints of deceptive sales tactics, unauthorized debits, and poor customer support.
At a glance
Founded: 1999
Location: Fort Worth, Texas
Acquiring bank: Fifth Third Bank
Website: e-mg.com
Phone number: 800-789-8897
E-mail: Contact form here
Online reputation and reviews
Eliot Management Group has received over 250 negative reviews on consumer protection forums. The issues cited by merchants are the the same issues that are commonly tied to First American Payment Systems and its resellers. These include nondisclosure of contract terms, misrepresentation of rates and fees, unauthorized debits, poor customer service, and expensive cancellation penalties. According to the available public responses from the company, Eliot enforces the terms of its contracts regardless of whether the merchant is dissatisfied. Overall, Eliot Management Group does little to set itself apart from other processors in the First American Payment Systems family.
Legal actions and lawsuits
There are no outstanding or recently resolved legal actions related to Eliot Management Group at this time.
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