Teledraft is a credit card merchant that is not accredited by the Better Business Bureau (BBB). For this reason, the BBB has given them a rating of “F”. According to the BBB, there has been only one complaint filed with the BBB against Teledraft. The complaint originally involved “Problems with product/service”, and has since been closed. In addition, there have been zero customer reviews of Teledraft, which is likely due to the fact that the company is not registered with the BBB. While their standing with the BBB is certainly a poor indicator and red flag, it alone does not tell the full picture of Teledraft’s ratings or reputation.
Overall, the company appears to have a mostly positive reputation online. However, most of the reviews are on websites with questionable motives. Reviews on websites such as these, while better than finding nothing, carry far less weight than reviews on more reputable and well-known websites. Unfortunately, there is a noticeable lack of information about the company on websites such as BBB, Yelp, and pissedconsumer.com. This is yet another red flag that should be considered before working with or working for Teledraft.
Perhaps the biggest red flag is the article on Ripoff Report in which Don Charles and Al Slaten of Teledraft are accused of ripping off almost $69,000 in Tempe, Arizona. In the report, Teledraft is accused of holding funds at the termination a business agreement in order to mitigate their “risk exposure”. However, after agreeing to release $26,000, they were unwilling to actually release the funds, despite regular communication attempts from the business they were speaking to. According to the report on Ripoff Report, the money has still not been returned, and this has been an ongoing issue since at least mid-2010. Also worthy of note is the fact that, according to Yelp, the Tempe, AZ Teledraft location has since been closed.
The lack of reliable information and the significant negative flags on Teledraft means that both potential customers and potential employees of the company should stay away. There are numerous other ACH and financial service companies in Arizona that lack the uncomfortable amount of negative attention Teledraft has received.