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Bank of America Merchant Services Review

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Bank of America Merchant Services Review

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Date Established
2009
Location
Charlotte, NC
Emily Hale

Emily Hale

Emily is a writer, strategist, and freelance consultant based in Indianapolis. She is driven to create content that empowers her readers and her clients to make better choices in their business and their lives. When she's not in the thick of researching and developing blogs for Merchant Maverick, she likes to cook from scratch for her family or escape outdoors and meander through nature with her rescue pup.



To learn more about how we score our reviews, see our Credit Card Processor Rating Criteria.
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81 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.

    Iryna

    Organization Name: villa azure

    it is not possible to describe it. never! Never use this service and this bank, it’s thieves and crooks. A year ago, I started to work with this service, after 6 days they froze (closed) my account and all the money that I earned. It’s been a year since they did not give me my money and nobody can tell me why.

    1
    • Organization Name: villa azure

    This comment refers to an earlier version of this review and may be outdated.

    Lucia Craciun

    Organization Name: Dare to Wear

    For anyone looking for a merchant account please stay away from Bank Of America Merchant. They make it loos so easy and it might seem fair price for your clover device but believe me they are ripping people off. They will sign you up for a long term contract and you won’t be able to get out of it for a long long time. I closed my store last year and I called BOA Merchant customer service to close my account immediately after I shut down my business. They were unable to cancel my account unless I pay over $500 cancellation fee so now I’m stuck to monthly fees until next year. They should be more supportive of small business as we are the ones who work hard to make the magic happen … but instead they will lure you in and if your business doens’t go according to your plan you will be stuck with long term fees. There are many other companies out there to chose from …. This is my experience and I would like to share with everyone. Please don’t make the same mistake I did.

    1
    • Organization Name: Dare to Wear

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

    Kalpana Bogati

    Organization Name: Deeva Threading

    OMG, i came here after i have been victimized by BAMS, they never told me about the contract and termination fee. i thought the machine from first data is $500. they have very poor communication skills. They are big frud. They charge me $1478. at the end when i close my business and try the close the account. I feel like so cheated and the amount goes to collection. then finally i had to pay $1478 after paying the monthly fee of $42 for a year. This so sad that most of the people have kind of same situation.

    1
    • Organization Name: Deeva Threading

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

    Beverly

    Organization Name: MicroAdvantage, Inc.

    We’ve had BofA Merchant Services for over a decade and frankly I’m surprised that BofA got as many as three stars in this review. When the reviewer listed “poor customer service” under cons, she was not kidding. Because this bank farms out all its merchant services to other companies, whenever anything goes wrong they point fingers and NOTHING gets done. There is no ownership of their product so they don’t put any initiative into solving any problems. It’s the number one reason we would leave BofA in a heartbeat if we could. We’ve tried at least twice to survey all the various processors but because the bulk of our charges come from large ticket or Tier 3 charges, we’ve been unable to find another company that can handle that.Our only saving grave at this point is the fact that they switched their online processing provider and that company’s technicians are outstanding, both knowledgeable and helpful and it’s simple to get through to somebody. You could call BofA all day and never get through to someone who could or is willing to help you. The only worse company in terms of customer service (or lack thereof) is AT&T.

    1
    • Organization Name: MicroAdvantage, Inc.

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

    raul reveron

    Organization Name: Pelham Services Inc

    This BOA merchant service has the worst service that i have ever seeing only comprable with trash collection. Our terminal got Hacked and were issue wrong charges, they not only took from my account the amount the was deposit (no complains about that, but they also did charge backs in the same amounts and BOA is charging us huge fees for those transaction and now we do not find a person in the whole organization who can help us to solve the situation. Please advice if anyone has gone thru the same case and how did it get solved.

    1
    • Organization Name: Pelham Services Inc

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

    amy lop

    Organization Name: helix

    Terrible customer service. No support. They charge YOU for fraudulent online services. They do not update you on requirements. They do not respond to requests. They do not monitor your account until it is 100 times over the normal usage with obvious fraudulent charges online.

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    • Organization Name: helix

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

    Dave

    Hi Amy, When you mention that, “They do not monitor your account until it is 100 times over the normal usage with obvious fraudulent charges online.” Are you talking about chargebacks?

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

      Deborah May

      Organization Name: Life Transitions, LLC

      I gave a rating of one star because there is no available rating that is lower . I wish the Bank of America representative would have explained to me that BOA Merchant Services is a separate entity and getting in touch with the right department to resolve an issue is close to impossible. Fortunately, I was able to discontinue my contract before actually activating if after I read these reviews. However, it’s not completely resolved and it’s going into the 5th month. The customer service which I’m lumping all departments (sales, customer service, collections, IT, etc.) are horrible. There is no communication between these entities and you have to start over with your issue each time you are transferred, which in my case has been a minimum of 20 times (not an exaggeration). I did not expect type of behavior from a reputable business (Bank of America) but as I mentioned, they are separate from BOA. A few of the representatives were very helpful and tried to resolve the issue and for them I am grateful. However, overall, I would not recommend Bank of America Merchant services to anyone for their processing needs. I’m still searching and will make sure I read the fine print before proceeding with a merchant services provider.

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      • Organization Name: Life Transitions, LLC

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

      Roxana Gonzalez

      Organization Name: Around The Clock Gas Service

      Bank of America Merchant has very poor customer service, I was on the phone with them for 3 hours and 32 minutes today, I was transferred 4 times to 4 different departments and nobody seem to find the problem, while having some charge backs they first tell you that the best and fastest way to respond to a dispute is to fax it…. Well did that on two occasions and get denied on both, reason! well because my first fax did not go through completely, when I did re-fax and made sure it was sent the second time because I did notice all the pages did not go through. When I called back because I received a denied letter, they said that it was because they only received partial fax, goes to show they are getting paid as a merchant but do nothing for you because instead of checking the paperwork before sending it to the credit card company, they send what they receive first.. to me they are just big bullies and do not care about their customer’s interest even paying them. I am under contract but as soon as my contract it up, I will be taking my business elsewhere. It is such a shame because I’ve had them for as my bankers for more than 20 years, any recommendations on a better bank?

      1
      • Organization Name: Around The Clock Gas Service

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

      Mar Smith

      Organization Name: M.S. Auditing & Comsulting

      As it was said in the beginning of this this review they say that Bank of American and Bank of American Merchant Services are two different companies. There are not the same. That is important to know. So if you have a loan or bank account with Bank of America it is not with Bank of American Merchant Services. The other thing is that First Data is the company that processes for Bank of America Merchant Services.
      I have audited Bank Of America Merchant Services statements and have found that they are padding merchants statement. this is costing merchants a lot of money.

      • Organization Name: M.S. Auditing & Comsulting

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

      Shawnia Harris

      Organization Name: Resilient Tresses Hair by Nae

      What are you doing about it?

      • Organization Name: Resilient Tresses Hair by Nae

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

      AMY M LEMANIAK

      Organization Name: Ten Tiny Toes Photography, LLC

      This company is such a scam. I haven’t used my account in 9 months, and called to cancel it and was NEVER told that there was a contract in place nor that there would be a $500 early termination fee. The fact that they would not tell me this is absolutely absurd and has to be illegal!!! They just took the money out of my account one day. I will be filing as many complaints as possible about this and telling EVERY business owner I use to stay away from them!

      1
      • Organization Name: Ten Tiny Toes Photography, LLC

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

      Artak Harutyunyan

      Total rip off! Somehow sold a $120 worth credit card machine for a $1,500.And they have me on a hook on leasing. Plus we keep receiving charges nobody could explain.Way to treat start-ups BoA

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        Stephanie Pontiff

        The absolutely worst costumer service.The person helping me was actually arguing with me about closing my account!?!? I would never recommend ever,ever ever!! Merchant services explained to me that they would close my account then proceeded to continue to take ‘fees’ from my small business.i wish I would have read these reviews before choosing to use their services

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          B

          We believe that this company is complete scam. Save yourself headaches and find a better company. Payeezy/First Data/Clover, if you keep playing with businesses, we will take you to court…

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            Clint Montgomery

            Horrible service!! I was told by a Merchant Services representative at Bank Of America that they could give me great rates and beat my QuickBooks go payment rates. FAR FROM THE TRUTH!!! I processed one payment of 8900 using QuickBooks. Client had AmEx. Fees were 302.00. Processed second payment of 8900.00 with same card using First Date/ Payeezy and the fees were close to 600.00!!! Rip OFF!!! I will be switching banks and have already closed my First Data Account.DO NOT TRUST THESE COMPAINIES!!

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              Clyde Swalwell

              Bank of America Merchant Services in tandem with Clover Card Reader is a huge scam. Using Bank of America Merchant Services was a huge mistake and cost my company thousands of dollars. The support is horrible, there are hidden fees, and they do everything possible to screw you. Using BofA and Clover was the biggest mistake my company made this year. Do yourself a favor and stay far away. Considering a lawsuit against BofA because of the awful merchant services.

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

                AMY M LEMANIAK

                Please let me know if you end up suing. I think a lot of people have grounds for this!

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

                  Shawnia Harris

                  Organization Name: Resilient Tresses Hair by Nae

                  I agree we need to take stand.This is highway robbery.

                  • Organization Name: Resilient Tresses Hair by Nae

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

                  Michael Carlsen

                  When you switch processors it will take an act of congress to get this bank to stop stealing money from your account and you will not get it back. For several months we were getting charged for the monthly base fee even though we cancelled. They told me that they could not undo what was done. When we finally were told we would not be charged anymore an annual fee of 57.00 was taken out two months later. I have now had to pay my bank to put a hold on any withdraws from these people. I will never do business with them again in any way shape or form and I tell everyone I know to do likewise.

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

                    Epifanio Flores

                    YEEEEESS… BAMS is the worst step for starting a small business. Their representatives are not transparent as they hide critical information. They are specialist avoiding contact with customer that want to cancel this service. The representatives never tell you about the $500.00 cancellation fees or a four year contract, auto renew, hidden fees or annual fees.
                    What is the role of Bank of America’s representative in this scam?
                    If the Federal Trade Commission has any concern, is about time for a complaint

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

                      Heather Lindaman

                      Epifanio,

                      I’m really sorry you had a crummy experience. Unfortunately that happens too often in this industry..

                      I am a relationship manager with Heartland. I would be more than happy to help you personally, or get you in contact with a local rep in your area. If you haven’t heard of us, Heartland is the 5th largest direct processor in the United States. Feel free to check out the review Merchant Maverick wrote about us.. We pride ourselves in doing right by our clients, and have developed many practices in order to achieve that.

                      Please feel free to contact me. I’m happy to tell you more or to get you connected with someone in your hometown.

                      Warm regards,

                      Heather Lindaman
                      heather.lindaman@e-hps.com

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

                        Michael Carlsen

                        I will never do business with them again in any capacity. When we changed vendors we notified them. They continued to charge us even though no processing occurred. We called again and they said they could not credit us for months past even though there were no processes however they would stop the charges. We got another round of charges and they said it was because we called in the middle of the cycle. They are scam artists and it is a wonder they are allowed to do business at all. I will tell everyone I know not to do business with B of A in any capacity.

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

                          bdd

                          Very crooked business pracitices! Dont ever sign up with them! I had a merchant account with Bank of America for several years. Over that time, I received notices constantly that my rates were increasing. When I called to try to have them lowered, they were rude and not helpful. It took several phone calls to close my account. Three months after closing my account, I am still being charged very high fees. They conveniently don’t have record of my requests to close my account and will not credit my account for these charges. NEVER NEVER get involved with this company!!!

                          1

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

                            Zeyad Ramadan

                            I spoke with Barry, a representative from BoA Merchant Services about switching over to them and specifically asked him about contract obligations, early termination fees, etc. and he said that this was not the case. There was a one-time initiation fee of ~$180 that would waive this and allow me to cancel at any time. After speaking with him, I did a quick Google search for reviews and found this site. When I pointed him to this article to confirm/deny some of the points raised he became belligerent in his tone and tried to switch the tables and talk about how my company was not worth his time.Based on this experience alone and tone I will not do business with BoA Merchant services even though I have a business and personal account with them.

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

                              Alexandra's Crafts

                              We are a small mobile cafts business and only choose Bank of America because in 2013 we traveled from the west coast to Michigan and back in the RV and quickly discovered that while buying local is something that has helped us grow our business, our customers seek out that quality, banking local is a problem. How does one deposit a $5000 check when your bank is two or three time zones over and their out of network ATM fee is a %. (Before the days of mobile deposit capabilities). Having a national Bank became a clear necessity. With the only other available being US Bank, Chase and Wells Fargo, we found there was just no way we could afford to have accounts at any of them, as a small business they wanted five or ten thousand min balance, or electronic deposits or have a $50 (some cases higher) monthly fee. Bank of America however, offered an option of a waiver of monthly fee if use their merchant services. Hence, they became the only national bank we can realistically afford else we’d find aother option. We are semi seasonal, and there are a few months during the year that we do not run cards, and only that month does Bank of America charge the monthly fee. Though one transactions, no min amount, waives that. When we catch it we’ve charged our own Bank of America business debit card one dollar near the end of the month. Yes, we loose the credit card processing fees on our own money, however, part of that dollar goes back into the account, and even a dollar is far less than the monthly service fee. By no means is Bank of America easy to work with customer service on accounts or merchant services via the phone. However, if you can find a branch with good customer service, sometimes that means the drive outside the major metropolitan city to the town of 5-10 thousand people they will work with you and make the phone calls right there in the branch. If you know what it is you should have or be getting you can get it. Getting there is far more work than I’ve ever experienced with any other merchant services company or bank. They are very vague and try to dodge their guarantees at all cost. When our mobile card reader quit working after over a year they wanted me to purchase a new one. After many days of phone calls and faxing both squares and intuits policies on ordering card readers and how often they’d replace the reader did we not have to pay $50 plus shipping. Because as they said , “they are very fragile devices and not expected to last a year.”However, the biggest scam I’ve seen is the overdraft charges based on pending/processing items. You can have the same item show as processing for 4 days, and if any of those days if it were to clear would overdraft the account the nail you. However, if you don’t check every day it looks like day 1 the money was subtracted from the account, so when the deposit goes in on day two, and more items clear, on day three you don’t realize that there were less deposits on day two then withdraws, so on day 3or 4 when the $600 one clears it overdrafts the account. Top that with , on day 4 a $7. $20. And $15 all also hit and now show as process/pending, because that $600 one processes first, all 4 trigger overdraft fees. I shouldn’t have to call them and debate it very time when the bottom line was the actual balance never dropped below $1,000.Other than small local banks I can’t say that I’ve experienced any bank that you don’t have to figure out how to navigate and what the correct phraseology is to obtain the desired outcome.BankofAmericas ability to find ways to charge fees is astounding. Nearly always if you’re willing to take/have the time to debate them they will recredit the account. Seriously though, I shouldn’t have to do that with someone I’m letting borrow my money, even if it is a relatively small amount. 100 bills under the mattress are still a good option until I need to process money.

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

                                Gwen

                                Tom,

                                I am currently looking for a respectfully Merchant Credit Card Company. I was thinking of BOA since I have all my accounts with them but after reading the reviews, I’m going to hold off.

                                Based on your experience, can you tell me which companies out there that you can trust. I have a Consulting Business that is currently transacting between 50K-100K a month. The Merchant Service that I am currently with is holding 20K on my money for security deposit. I have been with this Merchant for 3 years and they have never asked for a security deposit until now.

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

                                  Chloe Bahal

                                  Hi Gwen,

                                  I would try Durango Merchant Services, Payline Data, or Instabill.

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

                                    sony bains

                                    which bank is the best to give merchant facility
                                    for website designing business where should i go to apply merchant account online payment if someone knows please let me know on my email. sonybains2411@gmail.com
                                    i’m very thankful

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

                                      David

                                      My company has used BAMS for the past 10 years. We process approx $300,000/yr in cc. Four weeks ago an international scam artist was running test cc #s thru our online terminal. We secured the site and fixed the problem.BAMS risk department, located in Suffolk County, NY, froze our account. That was FOUR WEEKS ago. The account is still processing payments daily, but we are not being paid for this. The risk dept has no way of communicating with the customer service dept. They NEVER return calls. The only way to contact them is to call cust serv, have them send an email to the managers, then wait 2-4 biz days for a manager to email the risk dept. This is a NIGHTMARE!!!We have had to hire an attorney and plan on suing BAMS. We are also getting a new merchant account with a different bank. The business has $0 now and we can’t pay our operating expenses.

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

                                        Ray

                                        2.7% per transaction. Sweet deal, right? Here’s the catch.Term of contract : 36 monthsEarly termination fee: $500Annual maintenance fee: $100Those are all written in fine letters. Be aware when you write your initials on their E-file.

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

                                          Beverly K

                                          B of A has been our processor for 10+ years and I’m frankly surprised at the 3.5 stars. We have only stuck with them for so long because they, to are also our bank and therefore we get 1-day deposits.

                                          Their tactic is to use third parties for their services (we use a virtual terminal) and then when problems arise – as they do – they point fingers and pass the buck and say there’s nothing they can do. For example, we literally had a 4 month period in which our virtual terminal was unable to accept swiped cards. Both the software provider and B of A did nothing to facilitate a solution (I have a 1-inch stack of notes and emails from both parties to confirm this). We got stuck paying keyed rates for that entire time and B off A refused to refund us any fees.

                                          Customer service is notoriously unresponsive and their ‘help desk’ (for which one pays $15/month) needs to be renamed “I just answer the phone and no matter what you ask me I will be unable to help” desk. Top that off with fee after fee and they are no bargain.

                                          The good news? Thanks to your great reviews, we are in the process of possibly negotiating with Helcim.

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

                                            Heather Lindaman

                                            Beverly,

                                            Did you end up negotiating with Helcim? If not, I would love to schedule a meeting with you to share the benefits of Heartland. We are the 5th largest direct processor in the country. Our customer service center is open 365/24/7 is located in Indiana where a live representative will answer your call with an average wait time of under 10 seconds.

                                            I saw that your draw for staying with Bank of America merchant service was the next day funding–that is a service that Heartland also provides without additional fees. I would love the opportunity to chat with you if you’re still in the market to make a switch.

                                            Best wishes,

                                            Heather Lindaman
                                            heather.lindaman@e-hps.com

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

                                              Andrew Markuszewski

                                              Hi, I’ve recently been sent an application to initial from BOA Merchant Services. I’m setting up an online WooCommerce site and need to have a gateway in place. I currently have a business checking account already with BOA.

                                              I’m told in my agreement: The Payeezy service has a monthly cost of $16.00, online PCI security for $10.95, and an initial set up cost of $199.00.

                                              I would also be getting a Clover Go Moto which runs $9.95 monthly.

                                              According to the Sales Rep: A qualified debit card will be 1.00% online, Qualified MasterCard Credit card will be 2.56%. These are only for the online payments with payeezy.

                                              A lot of these reviews have me second guessing initialing the application I’ll admit. What are your thoughts on these numbers, and is there any other option available that would make more sense for me? This is for a new record label, and my sales surge and dip depending on release schedules. The Clover unit is for being able to process payments through my phone at shows selling merch.

                                              Thanks for anyone’s help!

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

                                                Heidi T

                                                Tom,
                                                We recently set up our Website on Shopify.
                                                There are many things about Shopify that I don’t like, one of which is their payment processing.
                                                It is taking 5-7 days to receive the money from the transactions/Purchases on our site, and as a small business getting starte, we don’t have the reserve to carry us while we wait 5-7 days for payment.

                                                We were looking to switch to BofA for our Mobile POS and a Gateway to Shopify for our Merchant Services, but after your review, I’m very skeptical.
                                                Can you recommend any other options/Providers?
                                                Our main need is to accept mobile POS transactions, and for the online transactions on our website. We were with Amazon Register for the last year until they discontinued service.
                                                Thanks,
                                                Heidi

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

                                                  Charmaine

                                                  Thank you so much for this review, just left the bank today and in NO WAY did they let me know that this is a separate company, I thought she was calling someone’s desk within the branch, something told me to say no, happy I listened.

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

                                                    Adam W

                                                    BAMS is a giant scam! I signed up to lease my Clover Pos at Bank of America in Houston from a lady named Ashley Sinkowitz. She promised me a great deal and great service. Its been 16 months and im yet to recieve either. They charge me double for my lease every month which was already a huge rip off to begin with and I didnt fully understand what I was signing up for. No matter who I speak to, Ashley, BAMS, First Data, Bams corporate office, NOBODY can fix this for me! Also they took the lease out as a loan against my credit. Im only writing this because if I can stop one person from joining these con artists it would be worth it. -Adam W

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                                                      sunny ross

                                                      Very frustrating customer service they with-held 2 my transactions for over a week. And only thing they give you is tickets. It takes days just to talk to the head person to understand what’s going on. and 3.5% for a transaction? It’s ridiculous I wish I never signed up for this. Chase is a more better bank

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                                                        Doris

                                                        Thank you so much for this information! I have a call scheduled with one of their sales people and was researching but couldn’t find any information on the BofA website. You just saved me probably an hour of listening to a sales pitch for something that’s not right for me! 🙂

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

                                                          Tica

                                                          Hi there, I wish I would have read your review prior to choosing BofA for my merchant services.
                                                          I am now hoping to that someone here has some insight on the following. In addition to processing fees I’m also charge a monthly wireless fee of $15 and a monthly transamor solutions fee of $19.95. Looking back at my statements I was also charged a $94 annual account maintenance fee in 2012 with the rate going up to $134 for 2013 and 2014. The monthly transamor solutions fee of $19.95 was added to my account in march of 2015. I’m wondering if this fee is in addition to my annual account maintenance fee or in lieu…I was expecting the annual account maintenance fee to be charged to my account today but it was not. All the other fees were. Anyone know about this?

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

                                                            Steve

                                                            Hey Tom,

                                                            I just wanted to say thank you for such an awesome and informative review. I’d also like to thank those that commented your review. I was really hoping to find at least one positive reviewer, however, that obviously did not happen. I came across this site while studying the products offered by BAMS for an interview I have with the company in two days. I’m unfortunately plagued with a conscience though, and I can’t offer this level of bad service to anyone. I’ll call and cancel my interview tomorrow. I know the frustration felt through similar bad experiences with Verizon and I can’t imagine myself being responsible for coaxing anyone into such a bad deal.

                                                            ~Steve.

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

                                                              Kevin Jay

                                                              Hi Tom,

                                                              I have a freemium business model where you can purchase additional features. The company is online and accepts payments via ecommerce. I looked at your recommended payment processors. I checked with CDGcommerce and they seem great. I also bank with BofA and they offered me a 1.99% + .20 for each transaction. The monthly fee is $16. One thing attracted me to it is that by having a business checking account with them, I am not charged for any additional transactions that are over the monthly transaction limits. Similar to Capital One Spark account. My question is, do you know if this is a good deal for freemium model businesses where you can large number of transactions one month and very minimal the next? Also should I lean towards CDGCommerce instead? Any advice would be appreciated.

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

                                                                Tom DeSimone

                                                                Hi Kevin,

                                                                I’m not sure what you mean when you say that you are not charged for transactions over your monthly limit with BofA. I haven’t heard of this.

                                                                What you need is an account that has no monthly minimum, low monthly fees, and works with your current e-commerce setup. I would also recommend interchange-plus pricing instead of tiered pricing (the 1.99% + $0.20 is part of a tiered plan, and is just one possible rate you could be charged).

                                                                As long as you have no monthly minimum, it won’t be a big deal to have some months with lots of transactions and some months with very few. Just be sure that your transaction limits are set to accommodate your highest volume months. I think CDG would be a good option for your business type.

                                                                Good luck!

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

                                                                  Eric Stephen Heckman

                                                                  While we do not use B of A we did open our restaurant with Clover a year ago. If anybody wants to buy it it is for sale, cheap. Do not listen to B of A or PNC if they try to sell you Clover unless you are a small carry-out or restaurant that does not need much sophistication in order entry, management or reports. Support is almost non-existent. Clover continues to fiddle with the application and make things worse. Try to get a year’s worth of revenue in one report. Some genius decide 90 days was all anybody needed and changed the reporting function. Apps and third party software is expensive, does not work half the time and have little or no support. The bottom line is Clover and First Data have no clue what a restaurant requires or wants. A simple advisory board of experienced restaurantuars could make this POS viable but Clover wants no part of that as they are simply a technical company. My new POS should be installed next week, thank goodness!

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                                                                    Shawn

                                                                    Hey Eric,

                                                                    We’re opening a new entertainment venue in VT that will include food and beverage services. We were seriously considering Clover as one of our POS finalists, but your review has us second-guessing that decision. We’re curious… What POS solution did you end up changing to?

                                                                    Thanks in advance!

                                                                    Shawn Bendig
                                                                    Stonehedge Indoor Golf – Owner
                                                                    Rutland, VT

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                                                                      vilian tambe

                                                                      Card reader no longer works, call for replacement they’re charging $49.99! After paying BAMS monthly and other related fees plus the inconvenience of keying in customer information, i think its time to go back to SQUARE with no hidden costs and fees.

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                                                                        Val

                                                                        I wish I had come upon your site before I got the wireless terminal from BofA!!!! Now, it’s costing me more than its worth with fees up my rear and I called them to cancel and they said there is no way to cancel!!!!! I *KNOW* that’s not righr!!!!! I’ve been looking through my paperwork and there is no mention of what to do to cancel the lease. This really sucks because my business is still a baby and I feel like I’m sinking before I even leave the dock!!!! Please help!!!!! I have the hand terminal.

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                                                                          Katrina

                                                                          Hey Tom,
                                                                          I’m the office manager of a small chiropractic business based in a small town. We were looking into the Clover when I came across your review and several others. My sales rep didn’t mention anything about extra costs and etc. They said there would a $ fee for leasing the Clover mini and a $ fee for access to their apps. Right now we are just using an omni through Elevon to process our credit cards. We liked the idea of Clover to have our scheduling, inventory, and trends at our finger tips. And we liked that they offer gift cards as we currently offer only gift certificates. What might you suggest for a small business like ours?

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                                                                            Drew

                                                                            Hi Katrina,

                                                                            Did you end up using Clover for your office. The scheduling and inventory tracking seems like a good perk.

                                                                            Thank you,

                                                                            Drew

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                                                                              Amanda L.

                                                                              Wow, I am SO glad I came across these comments! I spoke to BAMS this morning and they offered me a 2.3% fee per transaction vs. the 2.7% that square charges. I was told there was no other fees whatsoever. They emailed me the paperwork to sign and I was reading and seeing red flags so I just googled it and came across all your comments. THANK YOU for your honest feedback!

                                                                              Tom – I am curious on your opinion about Square? Square is the only company I have ever heard about and it has been working great for me. What company do you suggest over Square, and why?

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                                                                                Tom DeSimone

                                                                                Hi Amanda,

                                                                                There are a lot of mobile processing options, and all have merits and drawbacks. You can see my review of Square here. My first recommendation is usually Flint Mobile, but it depends on the business.

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                                                                                  Amanda L.

                                                                                  Hi Tom,

                                                                                  Thank you so much for your response and your reviews. I am a licensed cosmetologist who booth rents. Most of my clients pay with a credit card. My transactions run anywhere from $20 to over $200, just depending what services and/or products they get.

                                                                                  I have had my square a little under a year now and it has worked great for me. I am just open to seeing what else is out there as well.

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

                                                                                    Bob

                                                                                    Been with them since 99 and never one charge back. Ran a 25K through this month and it has been on hold for over 5 days! Still can’t get an answer.

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                                                                                      Daniel Toledano

                                                                                      BOA Merchant service is a Rip off!!!They first matched the rate I had with another merchant for one of my stores.Then after a year started to increase the fees a little by a little till they DOUBLED the initial percentage fee.Result they overcharged my TEN THOUSAND DOLLARS in one year.When I found out, they just said ” TOO BAD” but if you are willing to stay with us we will bring back the fees as the were initially.They use their name and the trust we have in a big institution as Bank Of America to take advantage.Take this good advice. RUN AWAY from these crooks…

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                                                                                        John Rockwell

                                                                                        We recently had to change our store’s checking account to a new checking account due to the old one being compromised. The change was effective 3/30/15 and none of our credit card transactions are reaching the new account (today is 4/03/15). After multiple calls to Merchant Services and Bank of America an account specialist admitted that there was a funding issue that they were responsible for. Their solution – wait another 48 hours to see if the funds make it into the checking account. Why do I get the feeling they wouldn’t have come up with that same solution if my company was called GE or IBM? Still waiting for the funds to come through . . . .

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                                                                                          Susan Tereba

                                                                                          I would recommend to anyone wanting to open an account in any manner with B of A – DON”T!! After more than 45 years as a customer and 20 as a merchant I have been treated very badly. First they closed my account without giving me an extension for filing a paper they needed – I was out of the country and it proved impossible to do this from afar. I just wanted an extension of a few weeks but it was denied. They closed the account four days before I returned to the States. Then when I closed the Merchant Services I was charged the $500 cancellation fee. I was never told about this fee – I would have gone elsewhere had I known about it. I was lied to by their representatives. And of course there is no recourse for this.

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                                                                                            Frank Sperandeo

                                                                                            Hello Tom, I am soon going to be starting a magazine in which the advertisers will be e-faxing their contracts to me with their credit card numbers. Do you think there is a merchant account that would be better for me than the others? Thanks, Frank

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                                                                                              Tom DeSimone

                                                                                              Hi Frank,

                                                                                              I think PayJunction might be a good fit for your needs. Check them out. One thing to consider here is data security. By handling credit card details you open yourself up to security breaches and PCI compliance issues. PayJunction may be able to help you come up with a more secure solution, or at least help you execute it as securely as possible.

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

                                                                                                Frank Sperandeo

                                                                                                Thank you for getting back to me Tom! I’ll check them out!

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                                                                                                  Diego C

                                                                                                  I just spoke to a merchant rep at BofA and offer me 0.50% +5 cents on each transaction then a $10 monthly fee and 5cents close batch fee. This sounds too sweet for what this post is saying. I am asking myself how is this possible. I am an startup sporting good business and currently used square. Are there any hidden fees or something I am missing?

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

                                                                                                    Tom DeSimone

                                                                                                    Hi Diego,

                                                                                                    This is an interchange-plus price quote. This means that you pay the .5% + $.05 on top of the actual interchange cost of the transaction. There are likely other fees, such as PCI compliance fees, that you will be charged annually. If the rep you spoke to did not explain interchange-plus to you, I would NOT sign up with them. A lot of dishonest sales people will give you an interchange-plus quote and lead you to believe this is all you’ll pay. You should check out our preferred providers, and if you need more help choosing submit this form and we’ll get back to you.

                                                                                                    Hope this helps,
                                                                                                    Tom

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

                                                                                                      Diego Costales

                                                                                                      Thanks, Tom. Very helpful your input. I almost sign up with BofA. I see in a lot of posts you recommend CDG, and in reality they seem a good way to go with. I currently use square but trying to see who offers a lower fee.

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                                                                                                        Captn Dan

                                                                                                        I am a very unhappy former B of A customer and merchant services customer. When B of A closed the branch on Pine Island I closed my checking account as I do not wish to drive off Island for banking, But the ETF ( $500.00) from Merchant services caused me to open another checking account in another bank to pay the quarterly fees ( $19.95) to keep an unused merchant account alive and well. I just got my statement and the Merchant services charged me an additional $40.00 to certify the card processing equipment which I gave back to the bank in May was compliant ! I do not use the account, I do not process any cards, all I do is pay the bank and they just seem to want more free funds. When can someone in the bank see that they are not gaining customers but losing them forever !!
                                                                                                        I will never have an account with B of A for any reason based on what I have seen.

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                                                                                                          Michelle Pickering

                                                                                                          Lying THIEVES that later tell you the merchant services are NOT affiliated with Bank of America. The reason customers say they did not know they had a lease with First Data is because the sales rep does NOT EVER tell you there is a SECOND contract for FOUR years in addition to the 3 year BAMS contract. It is a purposely unethical method of leaving out important information that they profit VERY well from. The lease is a sham too. You get a demand for equipment insurance from FIrst Data which Is when you initially find out you are involved contractually with another company.

                                                                                                          ALSO if there is ever a problem with your surprise annual fee to BOTH BAMS and First Data that you are never told about or given notice of (my rep said there was a $50 annual fee in June which turned out to be a $100 fee in November, but don’t worry there is a $50 fee from First Data too), you get a $50 collection fee immediately, the bank NSF fee PLUS another NSF from the 3rd party payment processing company you didn’t know you were using. A total of $110 in fees in case your account is low and you are not prepared for a surprise $100 deduction which is taken out with your processing fees, but with no breakdown given until your statement comes a week or two AFTER the deduction.

                                                                                                          I could write an entire book of additional criminal behavior by BAMS, but to spare the readers I will just say my deposits were held one day for about $400 last December. When I called I was on hold to speak with collections for at least 30 minutes several times, to be hung up on by an unbelievably rude rep that refused to explain how they were entitled to my deposit, and when I finally was given a breakdown of what I supposedly owed 3 calls later, there was still $140 that was never accounted for or returned to me. The BAMS representatives also have a very hard time reaching the collections department, so unless you have a minimum of two hours to spend on the phone (I’m NOT exaggerating), you will get nothing resolved.

                                                                                                          Liars, thieves, hidden fees and an extra contract they will not give you a hard copy of EVER…. Please do not EVER sign anything that you cannot have a hard copy of on the spot. They have this pin pad they have you sign and they only show you what they want you to see 🙁 My fault I guess. After banking with B of A for 25 years I was not careful. RUN FOR THE HILLS!!!!!

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                                                                                                            John Rockwell

                                                                                                            My experience has been similar.

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                                                                                                              Marcos Olivo

                                                                                                              I am currently looking for a respectfully Merchant Credit Card Processing company. Based on your experience, can you tell me which companies are out there that you can trust. I am a seasonal small business. I have recently signed a 30 days trial. but after reading the agreement, I told them that I am was not interesting. So they still charged my account and also got hit with two fees of $428.00 for two terminals, one that I signed for it and other that I refuse to sign and return by fedx. I was told that I will get $856.00 minus $75.00 in 7 to 10 business days. The majority of this companies are a bunch of thief, once they have your account, they think they have a right to withdrawal your money. thanks

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

                                                                                                                Tom DeSimone

                                                                                                                Hi Marcos,

                                                                                                                That sounds like a headache! I’d suggest trying out any of our top rated processing companies, including Dharma MS, CDGcommerce, Helcim, and Payment Depot. All of these companies have interchange-plus pricing (best value), no early termination fees (cancel whenever you want with no penalty), quality customer support, and ethical business practices.

                                                                                                                Good luck, and feel free to get in touch if you need more help. Also let us know how Bank of America does with getting you the refund.

                                                                                                                -Tom

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                                                                                                                  Nate Wyatt

                                                                                                                  A textbook example of a large corporation preying on smaller businesses. There were hundreds of dollars in hidden fees and a $500 cancelation fee. The customer service is the worst I’ve ever experienced. It took nine months, over fifteen calls and a request to the legal department to just get them to cancel my account. The way that I was billed was also pretty tricky, it stated -39.95 like I wasn’t getting billed at all. There were no other amounts listed on the statement so it appeared as if I wasn’t getting billed because I wasn’t using their services. I was wrong and the got me for at least a thousand dollars.

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                                                                                                                    Natalie Alexander

                                                                                                                    This has to be the biggest mistake in leaving a stable, big bulky Point of Sale system that was reliable for a slick, compact, fun piece of inconvenience.DONT LET THE LOOKS FOOL YOU… THIS IS NOT EFFICIENT AT ALLThey need to have a panel with seasoned business owners that have to deal with systems daily

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

                                                                                                                      Susan Phatsadavong

                                                                                                                      I called Merchant Services regarding a debit and credit in my account was missing. They said I need to go and apply for Business Track.com
                                                                                                                      In order for me to see all of the batches and activity on my accounts.
                                                                                                                      I did all that and I rec’d an email stating that I was approve to to view the Business Track!!!!!!
                                                                                                                      I don’t understand why I can not get approve to view my own information?? I am not applying for a loan!!! I just want to understand where my money goes when it I can see on my regular statements.
                                                                                                                      BOA Merchant Service makes this really hard for customers. I talked to many business owners they all said the same thing” NOT SATISFIED”. I can’t wait to be done with them.
                                                                                                                      New Business Owner run run run from BOA merchant service. they’ll suck up your bank account and you have no control over it!

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                                                                                                                        Nick

                                                                                                                        The Dept of Security Manager froze my merchant account after six weeks because I charged the same exact dollar amount to each of my clients. I explained that my service is offered as a daily flat fee as part of the business model. They said it looks suspicious. Then they requested invoices to back up the charges and said they were not good enough because the invoice address did not correlate with the billing address on the credit card. I explained that one AP girl is responsible for many locations and they use one credit card across them for payment.I am still going around in circles, they were rude to my bookkeeper and are basically calling me a crook. They keep on asking for additional information, which is provided and then they say it doesn’t match their records. It is some kind of delay tactic and I have no recourse because there is no direct contact with their Security Department. They have an inexperienced kid on my case who does not understand that each business is different, some use one card for multiple locations and sometime one will process several invoice in one day. This kid keeps asking for different information trying to create some kind of case and sniping for unscrupulous activity, but cannot find it because it simply does not exist. In the meantime my business is in limbo.Avoid BoA like a leper. I have a spotless financial history over 30 years and have assets and were with them over 10 years. They treated me like a criminal.

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                                                                                                                          Susan Phatsadavong

                                                                                                                          Wow..I thought that I was the only one who have a problem with BOA merchant services. No one should go eith them. They are a crook.

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                                                                                                                            John Rockwell

                                                                                                                            You’re definitely not the only one. Even when they admitted a funding issue was their fault they said I’d have to wait 48 hours for any of the credit card transactions to post to my Bank of America account. Not very convenient when both the rent and payroll are due.

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                                                                                                                              Douglas South

                                                                                                                              They called me for a sales position. What’s the catch. I have no blanking experience and they wanted a one day telephone interview and hit the road the next. Something smells fishy here.

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                                                                                                                                Jin Lee

                                                                                                                                Bank of American is another rogue company as far as card processing is concerned.Their local rep promised, after statement review, that I would save at lease $30 a month if I switched. It turned out their charge was about double what I paid to former processor (Moneris). The total charge surpassed 4% in recent months.I told them if they could not match Moneris, I was going back. The rep said he would check into it but nothing happened. After waiting 2 weeks. I sent the bank the cancellation notice, attaching the two processors’ statements when the card sales were about the same amount.The bank kept charging monthly fees including an annual fee of $98. When I protested, they said I need to call to cancel and I would be subject to the $500 cancellation fee, although I protested that the contract was based on false representation.

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                                                                                                                                  Susan Phatsadavong

                                                                                                                                  You take the words out of my mouth. I can’T wait to cancel with Bank of America merchant services. Everthing you said are true. I am in process of openings another stores. Definitely will not deal with this company sgain.

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                                                                                                                                    Liana Vitorino

                                                                                                                                    Worst service you can get is this one, and plus, cames with First Data to complete. I sold my business, Bank of America opens a new account with the new owners at the same location. Bank of America keeps the machine from my contract for more than a year and only when I got notified by a colect company (from First Data) and I when to Bank of America to know what was going on, they finally gave me the machine so I could send it back to First Data…. gess what? I still have to pay for almost 2 years more for a service that I am not having with First Data because Bank Of America and First Data are reciving payments from 2 business on the same location. I really call this TO ROB. There is a no concelation fee on my contract. Be carefull with these Bank of America, I really advise you to read every single line and if possible DO NOT SIGN ANYTHING WITH THEM. And of course, NO STARS

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                                                                                                                                      Vinh Le

                                                                                                                                      They asked me to send the bad terminal back to them so they will reimburse me $300.00 already charged in my business account. But it has never happened. They are totally lie and all B.S. customer services. If I am a CEO I will terminate all of them. No Star for rating.

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                                                                                                                                        EVALDAS ZIZILIAUSKAS

                                                                                                                                        worst merchant service still fighting with fees account closed in june ,don’t do business with

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                                                                                                                                          EVALDAS ZIZILIAUSKAS

                                                                                                                                          worst merchant service i ever had i used my merchant account for 1 month in june,and in august i still paying fees,do not recommend bank of america merchant service to no one,they will charge you so many fees you wont believe it.

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                                                                                                                                            Ericka Komlo

                                                                                                                                            Agree!!

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

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