SunTrust Merchant Services Reviews & Complaints
Overview
In this article, we explore SunTrust Merchant Services, focusing on its transition to Truist after merging with BB&T and its relationship with First Data (Fiserv). We cover critical topics such as their payment processing solutions, rates and fees, contract terms, and customer experiences. Key insights include an analysis of user and employee reviews, legal issues, and the impact of these factors on their service quality. We also weigh the pros and cons of their offerings, comparing them with industry standards. Our goal is to provide a concise yet comprehensive overview for businesses considering SunTrust Merchant Services for their payment processing needs.
About SunTrust Merchant Services
SunTrust Merchant Services is a credit card processing division of SunTrust Bank, which is headquartered in Richmond, Virginia. SunTrust is a reseller of First Data (Fiserv) merchant accounts and Clover as a POS solution. This means that merchants who sign up for credit card processing through SunTrust will receive the services and customer support of First Data (Fiserv). In fact, as of 2023 it appears that SunTrust Merchant Services is mostly absorbed into Clover/First Data and Truist (see below).
SunTrust Merchant Services Payment Processing
SunTrust Merchant Services offers payment processing for most major debit and credit cards, as well as checks and gift cards, for most business types. Their services include POS systems and card swipers from First Data and Clover, mobile solutions also from Clover, data reporting and insights, rewards, and e-commerce solutions and security.
Transitioning to Truist
In December 2019, SunTrust Bank merged with Branch Banking and Trust Company, a North Carolina banking corporation (BB&T), to create Truist. SunTrust still maintains a profile on the Clover website for merchant services, though particular services are slowly migrating to the Truist brand. Please read our Truist Bank review for more information.
Location & Ownership
SunTrust Bank's corporate headquarters is located at 303 Peachtree Street North East, Atlanta, Georgia, and Eric Mann is listed as the company's sales and marketing manager for its Virginia location. William H. Rogers Jr. is listed as the president and COO of Truist Financial Corporation. LinkedIn also lists David Martinez and Brian Adams as account executives.
| Pros: | Cons: |
|---|---|
| Accepts high-risk accounts. | Complaints of hidden charges. |
| No setup fee. | Early termination fee up to $495. |
| Loyalty program available. | Three-year contract term. |
| Equipment leasing options. | Tiered pricing plan. |
| Fraud protection tools. | Outsourced merchant services. |
| Clever POS system integration. | Non-transparent pricing. |
SunTrust Merchant Services Customer Reviews
Here's What Their Clients Say
| Total Online Complaints | 250+ |
|---|---|
| Live Customer Support | Yes |
| Most Common Complaint | Hidden Fees |
| Recent Lawsuits | Yes |
Overview of SunTrust Merchant Services Feedback
Our research has identified approximately 250 negative reviews about SunTrust Merchant Services. It’s crucial to note that while some customers have expressed significant dissatisfaction, labeling the company as a ripoff or scam, the majority of these reviews pertain to SunTrust’s broader range of services, including banking, loans, and mortgages. Only a subset specifically addresses SunTrust Merchant Services, with grievances focusing on unexpected fees and charges. We encourage users to share their experiences with SunTrust Merchant Services in the comments section below to enhance our collective understanding.
Legal Actions and Penalties Involving SunTrust
In 2017, SunTrust was subjected to a $1.5 million civil penalty by the Federal Reserve due to alleged violations of the National Flood Insurance Act. This action highlights the importance of regulatory compliance within the banking and financial services sector. Clients seeking alternatives to legal disputes are advised to report their concerns to appropriate regulatory bodies for potential resolution.
Customer Support Insights for SunTrust Merchant Services
Feedback indicates that customer satisfaction with SunTrust Merchant Services’ contract terms and support services, managed by First Data (now Fiserv), is mixed. This partnership impacts the overall perception of SunTrust’s customer service quality in the payment processing domain.
Accessible Customer Support for SunTrust Merchant Services
- (800) 432-7628 – Toll-Free Customer Support
The collaboration with First Data (Fiserv) for customer service functions contributes to the challenges SunTrust faces in achieving a status as a premier credit card processor for customer service. This article has been optimized with key phrases such as “reviews,” “review,” “complaints,” “customer reviews,” “customer complaints,” and “SunTrust Merchant Services customer service,” aiming to improve its SEO performance and provide a balanced, informative perspective for readers.
SunTrust Merchant Services Online Ratings
Here's How They Rate Online
| BBB Rating | 1.09 |
|---|---|
| Our Rating | 3 |
| Average Rating | 2.05 |
BBB Rating Analysis for SunTrust Merchant Services
SunTrust Merchant Services does not have a profile, but its parent company of Truist Bank, accredited by the BBB since 1986, has a customer review rating of 1.09/5 stars based on 2,382 customer reviews. The bank has faced a significant number of customer complaints, with 4,277 complaints closed in the last 3 years and 1,230 in the last 12 months. Common themes in these complaints and reviews include issues with billing and collection, customer service difficulties, and dissatisfaction with banking policies and fees.
Negative Feedback
I filed for bankruptcy in 2017 and this balance should have been included. When I tried to open a new account they stated that I owed a balance. They told me to call and settle it and when I did, the person over the phone was asking for account information that is 13 years old. I need a decision-maker to fix this. I don’t need to get passed around and the entire company is pointless. The last four of my social is #****. – Complaint from November 8, 2023
False advertising. Truist advertises no overdraft fees and it’s a lie. I’ve had 2 overdraft fees that were applied and bank staff can’t do anything about this. – Review from December 1, 2023
Positive Feedback
There are no positive reviews published about Truist Bank on the BBB website.
Source: BBB
SunTrust Merchant Services Fees, Rates & Costs
A Closer Look at The Contract
| Cancellation Penalties | Yes |
|---|---|
| Monthly & Annual Fees | Yes |
| Processing Rates | Variable |
| Equipment Leasing | Yes |
SunTrust Merchant Services Pricing
The standard SunTrust Merchant Services rates agreement seems to align closely with the standard First Data (Fiserv) contract. Standard First Data (Fiserv) contracts encompass various contract terms and pricing plans, typically involving multi-year commitments with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing structure. Clients processing up to $50,000 monthly usually encounter a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. For businesses exceeding $50,000 in monthly charges, the swiped rate is typically 2.29% plus $0.19, with a keyed-in rate of 3.29% plus $0.19. Another component of these contracts includes non-cancellable, long-term equipment leases through First Data Global Leasing.
Costly Contract Terms
These SunTrust Merchant Services contract terms appear to exceed industry averages and represent the upper end of what First Data (Fiserv) typically offers in its contracts. As such, SunTrust Merchant Services’ terms are not competitive with the most affordable merchant accounts. When interacting with a SunTrust Merchant Services representative, business owners are advised to request comprehensive documentation from both SunTrust and First Data (Fiserv) to gain a clear understanding of the expected fees. We also recommend exploring our list of the top merchant accounts available.
SunTrust Merchant Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
| Uses Independent Resellers | No |
|---|---|
| Telemarketing | No |
| Misleading Marketing | No |
| Discloses All Important Terms | No |
Sales Complaints
SunTrust Merchant Services appears to rely primarily on its client base established through normal banking operations to market its services. The company does not appear to outsource its marketing operations to independent sales agents at this time. That said, we are currently able to locate a handful of negative SunTrust Merchant Services reviews that accuse the company’s sales agents of misrepresentation or nondisclosure, especially regarding the company’s relationship to First Data (Fiserv) and the high early termination fee imposed by First Data (Fiserv). This does not compare favorably to our list of best credit card processors.
Seek an Independent Audit
If you suspect that SunTrust Merchant Services is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges. To its credit, SunTrust does not appear to engage in any deceptive advertising strategies in its official materials.
Our SunTrust Merchant Services Review Summary
Our Final Thoughts
SunTrust Merchant Services rates as an average credit card processing provider according to our standards. The company is a reseller of First Data (Fiserv) contracts, and it appears to charge an early termination fee of $500, which has led to the bulk of SunTrust Merchant Services complaints. SunTrust is a large business with many diverse operations, so it has attracted a large number of complaints. Only some of these complaints are related to its merchant services branch, and we have tried to take this into account in our overall rating. According to available evidence, however, SunTrust is nowhere close to being a worthy competitor to the top-rated providers.
If you found this article helpful, please share it!
JOSEPH BERRIGAN
Sun Trust Merchant Services is a rip-off and run unprofessionally. Every time I have called seeking to cancel, I am told the “system is down”, and call again in two hours! Unreal. I have a Clover device that cannot even be used because the new iPhone have to jack to plug into, and yet they are still charging my account $24.95 a month. No address anywhere for an address to cancel in writing. Just a plain rip-off. Guess I will just close my Truist account and that should take care of it.
a salon in Fredericksburg, VA
A lot of hidden and suprised fees with Suntrust Mechant. One example is they took out a fee of $9.50 out of $20.00 debit card charge, I decided to closed the account then they charge me a fee of $45.00 closing fee. The bottom line is whatever it is they find ways to charge you a fee big or small.
O
I’ve had the most horrible experience. My account was closed with SunTrust Merchant in July of 2016 and as of May 2019, I am still trying to get my funds that is being held back from them. First I was told that the money was sent to the state as uncollected funds, it turned out that was a lie. I was transferred to several different departments with each one claiming not to be responsible for sending refund and as I write, I still do not have my refund back
This post will help: How to Make Your Payment Processor Release Your Money
-Phillip
Joseph Davila
Horrible customer service. They took money out of my account for equipment that they never sent tags for. I finally was able to get ahold of someone and return the items , but now they wont put the money back in my account. Very upset over this I’ll never use them in the future and its actually going to cause me to close my SunTrust account.
This post will help: Cancelling a Merchant Account Without Paying a Fee
– Phillip
Zach
Suntrust merchant services, are nothing but a bunch of criminals. They will raise your interchange rates constantly, create little hidden fees, very slow deposits, and THE WORST CUSTOMER SERVICE EVER, on the phone. These fools actually aided a online internet scammer who has a active case against him, with refunding money from small business back to this guys account after he scammed the credit card companies claiming he never participated in the transaction. They just will say there is nothing they can do and practically wait for you to hang up…. BUYERS BEWARE DO NOT GO NEAR THESE PEOPLE. THERE IS MANY CLOVER MERCHANT PROCESSORS OUT THERE. Do your business a favor and find a different one.
Larry George
In 2013 I owned two separate businesses, holding two separate accounts with SunTrust Bank.
On November 7th, 2013 a Sales Rep with SunTrust arrived to my office and informed me of SunTrust Merchant Services. The Sales Rep informed me that I will have a 2 year agreement with the Merchant Services and informed me of the card processing fees per transaction, and the monthly fees that would go toward the credit card processing equipment. The Sales Rep provided me with 3 forms to sign (Merchant Processing Application and Agreement, Payment Processing Charges Agreement, and The Confirmation Page). I signed the forms and the Sales Rep proceeded to set up the accounts.
When my card processing equipment arrived in the mail I received a large packet of documents to with the machine. From that moment on I was able to use the card reader and the merchant services as normal.
I used this service over the course of 28 months without any issues. In March of this year (2016) I closed one of my business checking accounts with SunTrust, as I was going to merge my (2) businesses under one checking account. I proceeded to use the credit card processing equipment as normal (However, I did not use it often as most of my customers pay by written check). I was under the impression that everything with my existing accounts was current and in good order, as I was not informed otherwise by SunTrust or First Data.
In June of this year (2016) I received a letter regarding a collection notice from First Data/Merchant Services for the collection of an ‘Early Termination’ fee of $500. Upon receiving this notice I contacted the Merchant Services to try to figure out why I was receiving a bill for early termination.
The Representative I spoke to with SunTrust Merchant Services explained that since I was not using the one business account the services were being terminated. I informed the Representative that I did not want to cancel my services, I was only merging my two checking accounts into one checking account and I wanted to continue using my merchant services as normal. We ended the conversation with the understanding that I was not terminating the account.
In August of this year (2016) Following a handful of various exchanges with the Merchant Services I contacted the SunTrust Merchant Services one last time to check on the status of my account, only to find out that I had accrued two delinquent payments from April and May (2016) as well as collection fees and the original Early Termination fee, equaling out to approximately $750. I, again, explained the situation regarding merging my bank accounts, and my original intent to remain active in my service. The Representative proceeded to include an ‘in-house’ collection agent on our telephone conversation. After discussing the current situation and attempting to relieve this debt I had unknowingly accrued, I began feeling unheard and misunderstood in my intent. I ultimately became frustrated and informed both parties on the phone conversation that I now want to terminate all of my accounts and business dealings with SunTrust Merchant Services.
After informing them I wanted to cancel my services, the Representative explains to me that they can possibly have the collection fee waived but I still must pay the ‘Early Termination’ fee, but now I also must pay the fee for my 2nd business account. I informed them that I only had a 2 year contract (which would have ended in 2015), as the Sales Rep explained to me when I started, but I was told, in fact, I had a 3 year contract, which I was unaware of. I have yet to receive the documentation showing the (3 year) contract I had signed, even after many attempts to collect this proof.
I had also attempted to just keep my accounts open until November (2016), the date I was told my term would end. My request was denied via email.
I also need to include details regarding the credit card processing equipment (leased through First Data) as a side note. I have learned that I am in a contract with them for 48 months (I was unaware of this term contract until after the fact). In an attempt to cancel my Merchant accounts I was informed that I must continue to lease the equipment until the end of term (November 2017) or I must pay out the remainder of my term, and only then my account will be cancelled. I am confused as to why I am in a 48 months contract with the equipment but have a lesser term with the actual Merchant account, but I have yet to find someone with First Data or SunTrust Merchant Services who can explain this to me.
I am writing this, not in an attempt to demean SunTrust Bank as a business, rather I am attempting to discourage all business owners and/or future merchants from using SunTrust’s Merchant Services, which I have discovered is actually partnered with First Data (and all exchanges are in fact run through them and not SunTrust).
I feel robbed of my trust in business affairs through this Bank and their affiliates. I believe SunTrust Merchant/ First Data has been practicing unfair business and they are unreliable in their customer service skills.
I feel saddened that I have to take so much out of my time to stress over the relationship I have had for so long with SunTrust Bank. And after reading multiple reviews for this service I have realized I am not alone, I am not special in this deceitful act. I have found that I am simply one in thousands who have had this same experience, and I know I will not be the last.
I simply want to end my services with SunTrust Merchant/ First Data, as I believe they have forced me into a business arrangement by deceit.
I truly hope SunTrust ends their partnership with First Data, as they are allowing their faithful customers to be manipulated into contracts without full understanding of what the contracts entail.
I hope to find a resolution to this issue soon.
Ronald Archer
The worst, and very antiquated. Still uses tiered pricing, and charges for every little thing that they can invent to charge for. Pull monthly fees out of your bank account without prior knowledge as to the cost. Any merchant service but this one, once you’s sucked in by their lies and deceit, it is a very expensive process to get out.
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A;ngi Shoemake
Where do I start? Lied to by sales person. Charged funds that were not legit. Closed the account in October and they STILL are billing me, charging fees for an account that was closed, now they say they didn’t call me or close the account until I called them again in November. Account still open in December after I made all contacts to close. My contact at the local branch just keeps selling me the cool-aid and refuses to give me contact information in Corporate or at the local branch in upper management. HORRIBLE EXPERIENCE THAT JUST KEEPS ON GOING. I rate them an F———! If anyone knows of someone with pull at this association please let me know. Next step will involve attorneys if I can’t get them to do their jobs!!!!!
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