Bank of America Merchant Services Overview
Bank of America’s Payment Processing Division
Bank of America Merchant Services, also called BA 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. The company also promoted POS systems through Clover.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 Merchant Services Location and Leadership
Bank of America was founded in 1930 and is headquartered at 100 North Tryon Street, Charlotte, North Carolina 28255. Brian Moynihan is the CEO of Bank of America.
Bank of America Merchant Services Review Table of Contents
- Costs & Contract: Bank of America Merchant Services offers a three-year contract with a $500 early termination fee.
- Complaints & Service: Bank of America Merchant Services has received more than 100 public complaints.
- BBB Rating: Bank of America Merchant Services (as Bank of America) has an “A+” rating and has received 5,618 complaints and 273 reviews in the past 3 years. The company has been accredited by the Better Business Bureau since 1949.
- Sales & Marketing: Bank of America Merchant Services hires independent sales agents and has received a moderate number of complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Bank of America Merchant Services
Bank of America Merchant Services Statement Analyzer
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