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Merrick Bank Corporation, a subsidiary of CardWorks Inc., was founded in 1997 and specializes in payment clearing and settlement of credit card transactions.
Merrick Bank Corporation Payment Processing
The company relies on TSYS for its backend processing network and primarily markets its processing services through Independent Sales Organizations (ISOs) and other partnered banks. Despite the fact that the company has the word “bank” in its name, it is not a direct processor as the term is understood in this industry.
One of the services provided by Merrick Bank Merchant Services is their adaptable point-of-sale (POS) systems. These systems are tailored to suit the requirements of different sectors, such as retail, hospitality, and healthcare. Designed with ease of use in mind, these POS systems boast features like inventory management and compatibility with accounting software.
Mobile Payments Capabilities
Merrick Bank Merchant Services allows businesses to process payments on the go by offering mobile payment processing. This service is particularly valuable for enterprises operating beyond conventional brick-and-mortar locations or those wanting to give their customers more convenient payment alternatives.
E-Commerce Payment Integration
The e-commerce payment gateway integration provided by Merrick Bank Merchant Services is geared towards creating a smooth online payment experience for businesses. The company facilitates easy integration with popular shopping cart systems and e-commerce platforms, simplifying online transactions.
Merrick Bank Merchant Services also offers a virtual terminal solution for processing telephone and mail orders. This service allows businesses to securely manage remote transactions using an internet-connected device, eliminating the need for a physical card reader.
Security and Fraud Prevention Measures
To ensure secure transactions for businesses and their customers, Merrick Bank Merchant Services emphasizes security and fraud prevention. By adhering to PCI compliance standards and incorporating advanced security practices, the company helps safeguard sensitive data and reduce fraud risks.
Location & Ownership
Merrick Bank claims to sponsor over 40 ISOs and process transactions for over 91,000 merchants. Merrick Bank’s headquarters is located at 10705 S Jordan Gtwy, Ste 200, South Jordan, Utah 84095 with its primary merchant account division located in Woodbury, New York. Richard Urrutia is listed as the president and CEO of Merrick Bank Corporation.
Table of Contents
- Costs & Contract: Offers a three-year contract with…
- Complaints & Service: Complaints number fewer than 10 on…
- BBB Rating: Has a “B” rating and has received 1,231 complaints and 279 reviews in the past 3 years. The company has…
- Sales & Marketing: Hires independent sales agents but has not received any…
Merrick Bank Merchant Services Reviews and Complaints
Here's What Their Clients Say
Total Online Complaints
Live Customer Support
Most Common Complaint
Low Complaint Total
As of this update, we are only able to locate one Merrick Bank Merchant Services review that specifically mentions the company’s merchant services division. This Merrick Bank Merchant Services complaint is found in the comment section of this review and stops short of calling Merrick Bank a scam or a ripoff. The merchant in this case is expressing frustration with the company’s billing practices, alleging that Merrick intentionally mishandled automated payments so as to assess repeated late charges from the client. If you have your own Merrick Bank Merchant Services review to make, please do so below.
Merrick Bank Merchant Services Lawsuits and Fines
Gunderson Amazing Fireworks, LLC v. Merrick Bank is a 2017 legal case in which Gunderson Amazing Fireworks, a fireworks company, sued Merrick Bank, a financial institution that provides merchant services. The plaintiff, Gunderson Amazing Fireworks, alleged that Merrick Bank mishandled the company’s credit card transactions and breached their contract.
The case revolves around a dispute between the two parties concerning the processing of credit card transactions, which Gunderson Amazing Fireworks claims were mismanaged, leading to financial losses for the company. Gunderson Amazing Fireworks sought to recover damages resulting from the alleged misconduct by Merrick Bank.
There are, of course, many lawsuits against the Merrick Bank Corporation, but none specifically about the Merchant Services division. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.
Possibility of More Complaints
It is possible that many more Merrick Bank Merchant Services complaints exist online, but it can be difficult to sort complaints related to Merrick’s merchant services from complaints about the card-issuing side of Merrick Bank. Additionally, it is possible that Merrick Bank’s complaints are scattered across the online profiles of its numerous ISOs or directed at its processor, TSYS. In the absence of any clear pattern among Merrick Bank complainants or a reliable way to sort the company’s complaints, we are assigning the company an “A” in this category. Businesses can expect varying levels of customer service depending on which reseller they work with, but they should not expect Merrick Bank to rank as a top merchant account provider for customer service at this point.
Merrick Bank Corporation Customer Support Options
Merrick Bank does not list a dedicated customer service email address or phone number on its merchant services website. It does offer a customer support form and phone numbers for executives in the division, but it is unclear what kind of support these provide. Business owners should defer to TSYS for customer service inquiries as it handles Merrick Bank Corporation’s processing.
Merrick Bank Merchant Services BBB Rating and Report
Our Better Business Bureau Profile Assessment
Note: We have adjusted this company’s BBB rating according to our own standards. To better understand why we adjust BBB ratings, please see our Rating Criteria.
Over 1,200 Complaints
Merrick Bank has been accredited by the Better Business Bureau since 2012 and currently maintains a “B” grade. As of this review, the BBB complaint log shows a large volume of issues with a total of 1,231 complaints, although these are not solely linked to the company’s merchant services department.
What Merchants Say
In addition to 1,231 complaints, Merrick Bank has received 279 informal reviews on its BBB profile. However, the vast majority of the reviews reflect the company’s banking services and aren’t reflective of its merchant account services.
A “B” Performance Overall
It appears that some of these complaints are related to Merrick Bank’s merchant services branch, but without knowing exactly how many fall under this category, we will adjust the BBB’s grade only slightly down to a “B.” Merchants should note that there are good reasons to be skeptical of the BBB’s ratings in general.
Merrick Bank Merchant Services Fees and Rates
A Closer Look at the Contract
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Monthly & Annual Fees
The company’s partnership with numerous ISOs means that there is probably a high degree of variability in the Merrick Bank Merchant Services contract terms. Since Merrick Bank relies upon TSYS for its back-end processing, this review reflects their rates for transactions to approximate what to expect from Merrick Bank, though their rates will vary. TSYS offers listed a swipe rate of 2.5% plus $0.20 per transaction and a keyed-in rate of 3.5% plus $0.20 per transaction.
We are currently able to locate one Merrick Bank Merchant Services contract, sold by an ISO called Signature Card Services, which offers a three-year term that automatically renews for another three years if not canceled within the final 90 days. This agreement does not appear to include a fixed early termination fee, but it does include a liquidated damages penalty equal to 1% of a business’s gross processing volume for the remainder of the contract, to be assessed if the business processes any dollar amount through another company. In other words, it will penalize clients a potentially large amount if, without canceling the contract, they set up a merchant account with a different processor (this may even include PayPal). When it comes to terms like this, we encourage business owners to check out our list of the providers of the best merchant services.
Expect Variable Terms
Again, these terms are subject to variation depending on the agent setting up the account and a business’s type, size, and time in business. Business owners are encouraged to read their contracts carefully and strongly negotiate terms.
Merrick Bank Merchant Services Jobs and Employment
Hiring Standards and Ethical Marketing Assessment
Audit Your Current Statement To Find Its Hidden Fees
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Uses Independent Resellers
Discloses All Important Terms
Resellers Across the Country
Merrick Bank partners with ISOs, independent agents, and other banks to market its services. This is a common practice within the industry that tends to result in an elevated complaint rate. Merrick’s website claims that it is partnered with over 60 ISOs, so it is likely that sales tactics used by these independent entities will vary significantly. We are currently unable to locate any negative Merrick Bank reviews that mention the sales tactics of its merchant services sales team. This indicates that the company does not generally encourage unethical sales strategies. This compares favorably to our list of best credit card processors.
No Deceptive Quotes
Merrick also does not appear to engage in deceptive advertising in its official materials. Still, it is very difficult to assign a single grade for all of Merrick Bank’s affiliated entities. We therefore award the company a grade of “A” in this category with the caveat that individual resellers may offer dramatically different experiences. If you suspect that a Merrick reseller is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden charges.
Merrick Bank Merchant Services Review Summary
Our Final Thoughts and Opinions
Merrick Bank rates as a decent credit card processing provider according to our rating criteria. It is difficult to assess exactly how many complaints the company’s merchant services branch and its ISOs have accumulated, so caution is advised for all merchants. The number of verified complaints about Merrick’s merchant services is very low, and the company’s contract terms appear to range from average to below average. Business owners are advised to carefully examine any contract they are given and to compare the company’s pricing to top-rated payment processors before signing up.
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