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Company Overview
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.
Point-of-Sale Systems
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.
Virtual Terminals
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
Complaint Summary
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Total Online Complaints
<10
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Live Customer Support
Yes
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Most Common Complaint
N/A
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Recent Lawsuits
Yes
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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
BBB Summary
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BBB Reports
1,510
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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
Cost Summary
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Cancellation Penalties
Yes
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Monthly & Annual Fees
Yes
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Processing Rates
Variable
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Equipment Leasing
Yes
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Three-Year Contract
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
Key Points
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Uses Independent Resellers
Yes
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Telemarketing
No
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Misleading Marketing
No
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Discloses All Important Terms
No
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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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Russell c Miller
I put 1000 dollars in deposit with merrick, never received a card they sent another did not receive that one either. asked for my refund and closed the ACCOUNT 1/09/23, some how there stalling my refund saying there refunding money they charged me and confirms no one has spent any money on these cards. I OPENED THIS ACCOUNT IN MID NOVEMBER.I HAVE NEVER SEND A BANKING SYSTEM LIKE THIS ONE
David Cepeda
Merrick Bank is in the habit of accruing late charges and charges for posted payment reversals of both $40…They do it by saying payment posted, when in fact they didn’t take the money, so that if your account goes below payment amount during weekend or 3 to 5 days, that’s when they pull the money to get a non sufficient fees late charge and a posted payment reversal both. Bad practice not to take the money within 48 hours.
Maria
I have been with this bank for more than 15 years. They were my first (and only) secured credit card account. I don’t know what’s happening with them right now but the customer service is THE. WORST. EVER! I have been on hold for more than 2 hours now. Someone answered at hour one, asked for my name and then said, let me transfer you. I rarely call their customer service because I do everything online. Unfortunately, I can NOT send them a message on their “secured message” link because there is nowhere for me to write a message so I have to call. And what a nightmare it is. I have been trying to deal with them the whole day now. I started around noon trying to get a hold of a decent human person. It’s a day in my life I will never ever get back. I am writing to the Better Business Bureau next. I have to do something with this ridiculous and awful “customer service” which is such a joke.
Shelley
I activated my merrick card and tried to make use of the credit line for online payment and purchase but I keep getting declined . I was told to wait my pin in a separate mail after 5-7 business days of receiving my card but still I think I should be able to spend online frim my. Available balance
Douglas w.
I once thought this credit card scam was legitimate. Lately I’ve been asking myself what am I paying for well I never pay just the minimum payment and I pay every single month more than the minimum +EXTRA so tell me why since I haven’t charged anything all year is my balance still 2200 dollars almost exactly what it was last year this company is using predatory lending and a legal fees Chargers to scam many Americans out of our hard-earned money. I’ve just now begin to wage war on companies who take advantage of my fellow citizens. I don’t always read the fine print and I don’t always pay on the due date but I deserve a little flexibility and leeway says the credit card Act. This company is continued two require Hefty monthly payments when all they’re doing is keeping 90% of it or more. I called and gave Merrick Bank two opportunities to stop stealing money for me. I asked them if I had made a payment every month in 2016 she said yes she also said but they were late a day or two most of them so why is my balance approximately the same They acted as if I had made a payment in months when in fact I was paid to date when I figure it out that I wasn’t paying for anything I was just making someone else rich I couldn’t care less about my credit rating right now. I want everyone to know no matter how much you pay Merrick you’ll still owe them more and more forever. Sadly far too many of us or sucked into this scam High interest rates and bogus fees keep poor and lifeless. It’s no wonder we can’t get ahead when companies like this take more and more all the time regardless of the law. This statement is for David Hurst field or whatever the CEO’s name is I’m coming after you I want to put you and The Pour House I want you to make minimum wage and pay late fees for something I can’t wait to see how you feel. I PLAN TO POST , CHAT AND TEXT ALL MY FRIENDS
Jessica Rennspies
I have been with Merrick Bank for 3 years, but I am sure that is going to change as of today!!!! I have a perfect payment history and a zero balance most of the time. I paid off my small balance TWO DAYS EARLY (what a bad customer I am for that) Anyhow this ended up leaving me a $5.00 dollar balance two days after I paid from interest. Here I am thinking that I am paid in full cause I paid the full balance that was due……. Next thing I know I get an alert from my credit stating that I have a 30 day late mark. I call Merrick immediately to see the problem and while I am on the phone the representative informs me that I need to send in a request to have that taken off due to the circumstances clearly showing that I did make the payment. I send the request in and call back in a week cause I have not had any response, and they have declined my request. I then asked to speak to the manager in that department and I am told they do not take any phone calls……no surprise there. I guess I am being punished for paying 2 days too early the same as people that don’t even make their payments. I guess since they treat there good customers that same as their bad ones whats the point of staying with a shitty company like that. I SEE NO BENEFIT IN BEING A MERRICK BANK CUSTOMER SO IF YOU ARE CONSIDERING OPENING AN ACCOUNT WITH THEM I STRONGLY SUGGEST YOU RE-THINK IT AND DON’T!!!!!!. There is way better credit card companies that do appreciate great customers and that is what we deserve.
Rhonda Edmonds
I have been with Merrick since 2009 and have always made my payments on time, paying more than the minimum due, and paying off large balances on several occasions. Nov 2016 once again I paid off the entire balance planning ahead for the holidays.
Earlier this week I went to make a purchase online and it said Declined. Moving on to today, I go to make a purchase and again Declined so I logged into my account to see what was going on and it showed I owed $7.00 and the due date is Jan.5 2017, so I called customer service to see why the decline and rudely the agent replies with “Well you have a payment that is late so your account is locked” then she said how much the payment was & I was really furious that they had locked my account over a $3.00 balance that I knew Nothing about for they did not send me a statement for Dec. Her reply was it happens sometimes with the amount being only $3.00 REALLY!!
I then informed her that I wanted to speak with a supervisor, and that I also would be closing the account with them, she hung up on me. I called back and spoke to a nicer young man who did apologies for Merrick’s mistakes and I proceeded to pay the balance when he informs me that it was going to be a fee of $15.00 for paying with a live agent, and when I asked for a supervisor again he puts me on hold for a couple of moments then I’m hung up on again. This is not the way you do business especially with a good customer. So it is time I take my business elsewhere and get much better communications, interest rate, & customer service. I hate changes but will not stand for this kind of treatment.
Lawrence Ochs
RE: MERRICK BANK
For over 7 years my wife and I have 2 active Merrick bank credit cards (accounts). During this time we had not made any late payments on either account to my recolection. We have also ALWAYS made all of the monthly payment(s) for well over the minimum payment both accounts and never did we miss a payment. During these years of month after month payments and credit card use I felt that Merrick Bank had been a fair and good company, UNTIL NOW. several months ago I had noticed that one of our two accounts had been charged a late payment fee. Though I was puzzled with this I had unfortunately not addressed the issue with Merrick. I have both accounts set up as automatic bill payments through our personal Bank, the payments are both due to Merrick on the same due dates, and I have both payments scheduled to debit our checking account 2 weeks before the due date. As a few months passed I noticed that Merrick had been charging us a late fee each month and had been stating a missed payment on 2 occasions. Shocked, angry, and worried for my credit score (My credit is extremely important as we own a trucking company with 21 employees and a couple million in equipment and my credit must remain in very good status to maintain some very large credit accounts for fuelk, etc.) As i researched further into the claims reflected on my statements month after month I found the culprates. It was none other than…….MERRICK BANK! They were the guilty party! All of the payments on one account showed on time, every time! The other account was sustaining several late charges, over payment demands and nasty phone calls to our home, not to mention that my crtedit has been severely damaged! I was just today turned down on a small finance request for under $10,000 with a $3,000 down payment! To put this into perspective for you, I had closed a loan deal on signature three months ago for over $90,000 adding to well over a half mil of financing. My business remains solid and i have been low risk for many years What Merrick had done was to hold payment entries on one account to file late charges as both of our payments always were sent the same time and debited from our bank account the same time. One was never late, the other was! ???? The so called “payment that was never made” on the “late” account had in fact been made, debited from our checking account but Merrick had credited it to our other account using the same exact transaction number for both payments on the same account and penalizing the other account, again, and again. I spoke with at least 2 representatives in the billing/ collections department, a woman who called the house, who by the way treated me like I was some kind of lying little brat, and I was instructed as well to forward my proof to the managing supervisor in the collections department by fax; all of my documention, bank statement info, copies of certified checks(front and back) for every single payment on both of our accounts for all of the monthly statements that were involved in this fiasco. On top of this I was instructed to overnight/priority or registered mail the same documents. This cost anothe $18.00 and some change. After waiting another few weeks without recieving any contact from Merrick in any shape or form I remained extremely frusterated, Hoping that as soon as we recieved our next invoice/ bills from Merrick they would reflect a correction for the “mis-applied” payment (their fault by the way as our payments were shown to be clearly and properly marked) and at least 4 credits for $35.00 each the charged for late fees, not to mention that the proper thing to do would be to also credit us for the $18.00 + postage costs due to their mistakes. Well, NOT! Nothing! No credits! No appology! No redirected payment to the proper account! No ewxplanation as to why this happened nor why it has NOT yet been resolved! All I got was another G. Damn $35 late charge and a demand for a double the amount payment stating it is “NOW DUE” The evidence is indisputable, clearly marked and documented and there is absolutely no way anyone in their right mind could argue with us or disprove at what so ever! Tomorrow is my day! I have decided that I will transfer all of our Merrick debt either to a competing card bank or just plain pay it in full in person at their headquarters so I can supervise the transaction and entries myself! I have not yet decided if I will legally seek punitive damages relating to the credit I was turned down for due to “some questionable late and or missed payments reflected by Merrrick Bank! …………HEY MERRICK !!!! You just lost a great and loyal pair of customers! GET IT TOGETHER!