Merrick Bank Merchant Services Review

Merrick Bank Merchant Services Overview

A CardWorks Subsidiary

Merrick Bank Corporation, a subsidiary of CardWorks Inc., was founded in 1997 and specializes in payment clearing and settlement of credit card transactions. 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.

Headquartered in Utah

Merrick Bank claims to sponsor over 60 ISOs and process transactions for over 100,000 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 P. Lake is listed as the president and CEO of Merrick Bank Corporation.

Merrick Bank Merchant Services Review Table of Contents

  • Costs & Contract: Merrick Bank Merchant Services offers a three-year contract with a variable early termination fee.
  • Complaints & Service: Merrick Bank Merchant Services has received fewer than 10 public complaints.
  • BBB Rating: Merrick Bank Merchant Services has an “A+” rating and has received 384 complaints and 67 reviews in the past 3 years. The company has been accredited with the BBB since 2012.
  • Sales & Marketing: Merrick Bank Merchant Services hires independent sales agents but has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With Merrick Bank Merchant Services
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Products & Services Offered

  • Debit and credit card processing
  • ACH processing
  • E-commerce solutions
  • Gift and loyalty programs
  • Currency conversion
  • Sales analytics

Types of Businesses Served

  • Retail
  • E-commerce
  • MOTO
  • Petroleum
  • Travel
  • High risk

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Merrick Bank Merchant Services Rates, Fees, and Costs

Key Points

Swiped Rate 2.50% + $0.20
Keyed-in Rate 3.50% + $0.20
Early Termination Fee 1% of Gross Volume
PCI Compliance Fee $75.20 Per Year ($18.80 charged each quarter)
Equipment Lease Terms 48 Month (locked)

Three-Year Contract

Merrick Bank’s partnership with numerous ISOs means that there is probably a high degree of variability in its 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 2.50% plus $0.20 per transaction and a keyed-in rate of 3.50% plus $0.20 per transaction.

We are currently able to locate one Merrick Bank contract, sold by an ISO called Signature Card Services, which offers a three-year term that automatically renews for another three years if not cancelled 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 merchant’s gross processing volume for the remainder of the contract, to be assessed if the merchant processes any dollar amount through another company. In other words, it will penalize merchants a potentially large amount if, without cancelling the contract, they set up a merchant account with a different processor (this may even include PayPal).

Expect Variable Terms

Again, these terms are subject to variation depending on the agent setting up the account and a merchant’s business type, size, and time in business. Merchants are encouraged to read their contracts carefully and strongly negotiate terms (see: “Fee Sweep“).

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Response from Merrick Bank Merchant Services

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Merrick Bank Merchant Services Complaints & Customer Reviews

Key Points

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

Low Complaint Total

As of this update, we are only able to locate one Merrick Bank complaint that specifically mentions the company’s merchant services division. This 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 merchant.

Merrick Bank Merchant Services Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Merrick Bank Merchant Services. Dissatisfied merchants 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 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. Merchants 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 Service Options

Merrick Bank does not list a dedicated customer service email address or phone number on its merchant services website. Merchants should defer to TSYS for customer service inquiries as it handles Merrick Bank Corporation’s processing.

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Response from Merrick Bank Merchant Services

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Merrick Bank Merchant Services BBB Rating Summary

Key Points - BBB

Product & Service Complaints 139
Billing & Collection Complaints 237
Advertising & Sales Complaints 6
Guarantee & Warranty Complaints 2
Delivery Complaints 0

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.

Nearly 400 Complaints

Merrick Bank has been accredited by the Better Business Bureau since 2012 and currently maintains an “A+” grade. As of this review, the BBB complaint log shows a large volume of issues with a total of 384 complaints, although these are not solely linked to the company’s merchant services department. These complaints consist of 139 product or service complaints, 237 billing or collection complaints, 6 advertising complaints, 1 delivery complaint, and 2 warranty-related complaints. 78 complaints were fully resolved, while 306 were answered by the company but did not receive a response from the complainant.

What Merchants Say

In addition to 384 complaints, Merrick Bank has received 62 informal reviews on its BBB profile. Of those 67 reviews, 60 were negative while only 7 were positive. However, all 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.

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Response from Merrick Bank Merchant Services

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers Yes
Advertises Deceptive Rates No
Discloses All Important Terms No

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.

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.

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Response from Merrick Bank Merchant Services

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Merrick Bank Logo

Our Opinion of Merrick Bank Merchant Services

A Solid Option for a Wide Range of Businesses

Merrick Bank rates as a decent merchant services 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. Merchants 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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Thank you for reading my review. I hope that it has helped you with your research.

Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

How I Can Help You

I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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6 Reviews Leave Your Review for Merrick Bank Merchant Services Below

  1. i think Merrick bank is a normal bank. i am happy while using Merrick bank credit card. another most important thing about Merrick bank login is it is very easy.

  2. Douglas w. says:

    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

    1. Michael T. Howard says:

      Well then the solution would be to pay your bill on or before the due date. Its not their fault you cant afford to pay. I feel for your situation, but I’ve never had a problem with Merrick bank.

  3. Jessica Rennspies says:

    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.

  4. Rhonda Edmonds says:

    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.

  5. Lawrence Ochs says:


    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!

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