Bank of America Merchant Services (merch.bankofamerica.com), also called BA Merchant Services and Banc of America Merchant Services, is one of the largest merchant account providers in the United States. Surprisingly, Bank of America uses First Data and TSYS as its backend credit card processors rather than processing payments directly with the card networks. This partnership has resulted in a significant percentage of all U.S. credit card transactions being processed through Bank of America. A main benefit of opening your business checking account and merchant account through Bank of America is that your credit card sales will usually be deposited a full day sooner than if you were with a third-party merchant account provider.
Bank of America was founded in 1930 and is headquartered at 100 North Tryon Street, Charlotte, NC 28255. The CEO of Bank of America Merchant Services is Tim Tynan.
- Sales & Marketing: Bank of America Merchant Services hires independent sales agents and has received a moderate number of complaints about its sales practices.
- Costs & Contract: Bank of America Merchant Services offers a three-year contract with a $495 early termination fee.
- Complaints & Service: Bank of America Merchant Services has received more than 70 public complaints.
- BBB Rating: Bank of America Merchant Services has an “A+” rating with the Better Business Bureau and has received 6,165 complaints in the past three years.
- Rates & Fees: How Merchants Got The Best Rates With Bank of America Merchant Services