Now Truist Bank
BB&T has merged with Suntrust to form Truist Bank. The merger is ongoing and the two banks still provide certain services under their original name, but they are expected to complete the merger by 2022. Please read out Truist Bank review for more information.
Established in 1872
BB&T Merchant Services is a division of Branch Banking & Trust Company, a publicly traded financial services and banking network (NYSE: BBT), that was initially founded in 1872. The company has operated under the BB&T name since 1913 and is currently one of the ten largest commercial banks in the United States.
It is unclear at this time what types of processing Truist will provide for credit cards and other payments.
Headquarters and Ownership
BB&T Merchant Services appears to be partnered with TSYS to provide its merchant accounts. BB&T was headquartered at 110 South Stratford Road, Winston Salem, North Carolina 27104, while Truist is now listed at 214 N Tryon St, Charlotte, NC. Kelly King is listed as the chairman and CEO of BB&T. According to announcements on BB&T and Truist’s websites, customers will not have to change any account details at this time, but it appears both the Suntrust and BB&T brand could be scaled back in the near future. Kelly King is also listed as the CEO of Truist Financial.
BB&T Merchant Services Review Table of Contents
- Costs & Contract: BB&T Merchant Services appears to offer a 3-year contract through TSYS with tiered and interchange-plus pricing and an early termination fee of either $195 or $295.
- Complaints & Service: BB&T Merchant Services has received greater than 10 public complaints.
- BBB Rating: BB&T (as Truist Bank) has an “A+” rating and has received 1,340 complaints and 308 reviews in the past three years. They have been accredited with the BBB since 1986.
- Sales & Marketing: BB&T Merchant Services appears to hire independent sales representatives and has received a few complaints about its sales team.
- Rates & Fees: How Merchants Got The Best Rates With BB&T Merchant Services