Review Time
What can I say that hasn't been eloquently put before me, other than, DON'T TOUCH THEM WITH A BARGE POLE.I thought I was unique in my experience of "Braindead" but unfortunately i'm not.They seem to have the same routine, say yes you can open an account, wait until your about to start or have started trading then hit you with the application process. This is like no other application you have ever made before and is more intrusive than getting a business loan from the bank or a prostate examination.Once through this stage (and it really does take weeks) you are not home and dry. At some point in the first year they will request a Risk Review, this is along the same lines as the initial application and they need all the same info sending over again and, again, it takes weeks. Your account will no doubt be on hold whilst this is ongoing and the outcome seems to be in the hands of whoever is reviewing you and he will pleasantly tell you you are too much of a risk and immediately close your account. This means if you have any customer data stored with them or cash with them chances are its all gone... My whole Risk Review saga started as I had questioned where some money from my account had gone and was told it had been sent to my bank months before, I had no record of it being received so started emailing them, next thing the review starts and account closure followed. I'm not saying these events were linked but it is strange, stranger still was that the day they turned off my account the missing money suddenly appeared in my bank... If your reading this with a view to making a decision to go with them you really do need to read the other reviews and go elsewhere, if your reading this after having suffered at the hands of Braindead then you have my sympathy....
We are web developers. We started out by using Braintree on our own E-commerce website. Having been "accepted" we started using the service. We went through the same account review process as described here, and survived it, while Braintree held on to over £300 belonging to us. To begin with we had no idea what was going on, just that our money was not arriving.Subsequently we implemented Braintree successfully for two customers. Our third customer will be the last. He's been through a similar experience to other reviewers here - a review of his account, followed by an abrupt termination. All very friendly, but terminal. In his case the money has been released, but we were using the Braintree customer vault to store his customer data, and that data is now unavailable to him. Because of this integration with Braintree his website is now broken until we redevelop key aspects of it.Before this experience I recommended Braintree with caution due to the "Accept now, review later" approach to on-boarding merchants. I would certainly say you should not bet your business on them by making them your sole means of accepting payment, and make sure you have been properly accepted before switching over to them.Now, my advice would be to avoid them. The friendly, informal style is a front. They don't care if their conduct will destroy your business. Using their Vault functionality just increases your dependence on them and magnifies the consequences of being "terminated". We are off to find a service provider with a less cavalier approach.
This company is a scam. They took the payment on my behalf for the service we provide and now after 3 months of long process they declined to set up our account and will refund the money to my customer. Total nonsense. The reason is even more ridiculous because we are small ride hailing start up. Total waste of time leads to me double financial losses as I subcontract the work and paid. Imagine Braintree holds 1000 small companies money and making interest out of it. Also we don’t actually know if they are going to refund the money.
Worst company I've ever worked with. Very quick to take your money and then can shut your account down at any time with petty reasons and made up excuses. Absolute disgrace of a company. Deactivated my account also, meaning I can no longer contact, nor access the accounts withheld funds. Asked for a contact number which they're yet to provide. I WISH I HAD READ REVIEWS!!!!! Hopefully, my funds will eventually be returned. Failing this, Ombudsman will be informed.
Offered us individual pricing and promised it would take our costs down, in fact that increased our costs by 30%. When we reduced the amount of payments processed through them, they deactivated API without warning. We lost thousands of dollars before we could figure out where the bug was coming from. Never use Braintree.
We too were duped into opening an account with this worthless provider. I should have been more suspicious when they were asking far too many questions and documents upfront - things that were a little too invasive and unrelated to credit card processing in my mind. But, having very little prior experience in this area, I thought maybe this is a common industry practice.And then... lo and behold, after cumbersome, long onboarding process, the moment we started receiving our first transactions, we get slammed with an email from the risk management team telling us that all our funds will be frozen until they conduct an independent, standard risk assessment for newly opened account.Since conducted "independently", they would not accept any of the original documents submitted at application, so we needed to provide all documents again... except this time more... and even more invasive on privacy, asking for customer's phone numbers and other sensitive information concerning the suppliers. REALLY? No wonder they needed to wait and hold our funds hostage to start their interrogat... i mean "review". After all, who in their right mind would otherwise put up with such bs and expose their customers, suppliers and company trade secrets to open a simple service.This company should have been investigated on and closed down a long time ago!
I truly wish I read these reviews before signing up with Braintree. My story is completely the same as the others, we were just getting things rolling and out of nowhere received an email stating we were 'too risky', accounts closed, no access to money already paid by customers.This has truly left us in a serious problem and we are now considering having our legal team approach them for whatever good that will do.
It took them 2 months to decline our application for their payment gateway. We are a tiny startup, we had to wait for contracts and paperwork from lawyer, and company liability insurance. But Braintree didn't even got those yet and they declined our application anyway. We are a small platform (mobile app) for van drivers. So much money and time wasted on implementation with Braintree as they are unable to say their decision straight away and keep us waiting and decline after two months anyway. Without seeing our payment model.
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