TD Bank Merchant Solutions Review

TD Bank Merchant Solutions logo
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How did they treat you? ▼

The Merchant Services Division of TD Bank

TD Bank Merchant Solutions is the merchant account division of TD Bank, one of the 10 largest banks in the U.S. The company provides retail processing, mobile payments, and e-commerce solutions. TD Bank Merchant Solutions relies on Payeezy, First Data's payment gateway, to process online transactions. This is an indication that the company's merchant somay resell the services of First Data for it payment processing. The company also advertises Clover as a POS solution.

Location and Ownership

TD Bank Merchant Solutions is a division of TD Bank which is headquartered at 10 Great Falls Plaza, Auburn, ME. Bharat Masrani is the CEO and president of TD Bank.

Millennium Bankcard Review Table of Contents

  • Costs & Contract: TD Bank Merchant Solutions offers undisclosed contract terms with the option for interchange-plus pricing. The company utilizes Payeezy as a payment gateway
  • Complaints & Service: TD Bank Merchant Solutions has received fewer than 10 public complaints.
  • BBB Rating: TD Bank Merchant Solutions does not currently have a profile with the Better Business Bureau at this time.
  • Sales & Marketing: TD Bank Merchant Solutions does not appear to hire independent sales agents and has not had complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With TD Bank Merchant Solutions.

TD Bank Merchant Solutions Customer Reviews

Here's What Their Clients Say

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

Clean Complaint Record

We are unable to locate any negative TD Bank Merchant Solutions reviews. This means that there are no accusations of the company being a scam or engaging in fraud. Given the relatively low rates advertised by the company, it reflects well on the company that there are no public complaints accusing the company of misrepresenting its pricing structure.

TD Bank Merchant Solutions Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against TD Bank Merchant Solutions. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

TD Bank Merchant Solutions Customer Support Options

TD Bank Merchant Solutions provides 24/7 telephone support, and an automated form for telephone/email responses to support requests. Though this is not as comprehensive as what some of the best merchant accounts for customer service may provide, the 24/7 phone line and ability to initiate email support offer above-average options for support.

No Red Flags

Though there is no evidence to suggest that merchants are having negative experiences with the company. The lack of complaints, reasonable customer service options, and clean legal history are the reasons behind the company getting an “A” rating in this category.

TD Bank Merchant Solutions Online Ratings

Here's How They Rate Online

No BBB Profile Available at This Time

The Better Business Bureau does not currently maintain a profile for TD Bank Merchant Solutions. We therefore will not factor a BBB rating into this review.

TD Bank Merchant Solutions Fees, Rates & Costs

A Closer Look at The Contract

Cost & Fees Summary
Swipe Rate Interchange-Plus
Keyed-in Rate Interchange-Plus
Virtual Terminal Rate Up To 2.90% + $0.30
Payment Gateway Fee None
Payeezy Pro Plan Monthly Fee $19.95 Per Month
Early Termination Fee $495
PCI Compliance Fee $19.95 Per Month
Equipment Lease Terms 48 Month (locked)

Undisclosed Contract Terms

Given the company’s advertisement for Clover POS systems and the use of the Payeezy payment gateway, it is possible that TD Bank Merchant Solutions relies on First Data for its payment processing network. First Data offers a wide variety of contract terms and pricing plans, but its standard agreement is typically a 3-year contract with an automatic renewal for 1 year, an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Merchants who process up to $50,000 each month will receive a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Merchants whose monthly charges exceed $50,000 will receive a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19. Another facet of these contracts are non-cancellable, long term equipment leases through First Data Global Leasing.

Although its merchant agreement may impose a tiered rate structure comparable to First Data’s, this pricing schedule suggests that TD Bank Merchant Solutions offers merchants the option of selecting interchange-plus pricing. Interchange-plus pricing is the most transparent and straightforward pricing model available to merchants. Requesting interchange-plus pricing is an important component of effectively negotiating a merchant agreement.

Virtual Terminal and Payment Gateway Pricing

In addition to its storefront payment processing services, TD Bank Merchant Solutions also dedicates a portion of its website that advertises its virtual terminal and payment gateway. The company relies upon Payeezy as a payment gateway. Payeezy provides 2 pricing plans. The first plan, known as the Basic Plan, imposes a rate of 2.90% plus $0.30 with no gateway, statement, or batch fees. The second plan, known as the Pro Plan, imposes a rate of 1.89% plus $0.30, a monthly fee of $19.95, and no other fees.

An “A” Overall

Given the company’s apparent option to select interchange-plus pricing along with its transparent rate and fee structure for its virtual terminal service, we award TD Bank Merchant Solutions an “A” in this category.

TD Bank Merchant Solutions Employee Reviews & Sales Tacitcs

Should You Work For Them?

Jobs & Marketing Summary
Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms No

TD Bank Merchant Solutions Sales Tactics

TD Bank Merchant Solutions does not appear to hire independently contracted sales agents to market its services. The company’s website does not advertise any partnership programs by which other businesses or individual agents can sign up to sell their services. However, the company’s automated telephone directory lists that the company offers an affiliate program. This is a common hiring practice within the credit card processing industry that often results in a sales team composed of poorly trained or unregulated agents.

No Misleading Quotes

To its credit, TD Bank Merchant Solutions does not appear to list deceptive rate quotes in its official materials. The company discloses its transaction rates for in-store payments. While it does not disclose a dedicated virtual terminal rate, it does convey that it is a reseller of Payeezy, whose terms and conditions are readily available.

It is possible that the company alters Payeezy’s standard contract terms but that is unclear. The company does not provide a readily accessible merchant agreement listing any additional fees though. If you suspect that the company is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Given its lack of a reseller program, dependable payment gateway, and lack of issues with sales practices, we award TD BankMerchant Solutions an “A” in this category.

Our TD Bank Merchant Solutions Review Summary

Our Final Thoughts

A Solid Option All Around

TD Bank Merchant Solutions offers a multitude of benefits to merchants from its POS systems, reliable payment gateway, and interchange-plus pricing option. The company’s lack of complaints regarding sales practices, deceptive rates, or poor customer service is an especially good sign considering the size and scope of the company. For these reasons, TD Bank Merchant Solutions is a viable option for most standard risk merchants.

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Testimonials & Complaints

How Did TD Bank Merchant Solutions Treat You?

5 User Reviews

  • Robert M

    Fashion Beauty

    Very frustrating! Have a TD/Clover mini POS and of course printer dies 1 month after warrant expires. After a very long time on the phone and 3 people later, I finally get to someone who will send another unit that I obviously have to pay for.
    New unit arrives but I have decided to no longer use TD/Clover. Several days of numerous phone calls to customer service and never able to speak to anyone. I wait 10-15 minutes in queue for mine call to be answered and when it seems like my call is going to be answered by someone the line goes dead each and every time.
    Great customer service! So they are paying customer service personnel to hang up on/disconnect customer calls…Ain’t that nice!!!

  • Victoria

    Adonais Beauty School

    22 days for processing just to change to a new account and every day I get a different version of the truth! They have no supervisor to complain to and nowhere for customers to turn to when they need help. This is a horrible way to do business and I wouldn’t recommend them to anyone! This is the worst banking experience I have every had!! It’s always “24-48 hours” but it never happens! Do NOT TRUST THIS BANK!

  • Traci

    A & T Auto Repair

    TD Merchant Solutions is the worst payment processing company bar-none! I’ve been in business for myself for over 20 years. I have banked with numerous companies, hands down this is the worst apologetic organization I have ever dealt with. A) Large deposits are held for investment purposes for more than 4 business days even on Debit withdrawal payments. Smaller transactions are deposited next day. Explanation by TD: “We do not know what the problem is, I can look into and get back to you….[hold for 30 minutes, no explanation]… we will have to call you back” no return call. They avoid you. B) Constant apologizing for their mistakes, but no remedy, no credit issued for fees, no solutions! [They advertise “Merchant Solutions!”]
    C) Customer service reps have no authority to assist you only apologizing but they can not make decisions. D) No matter what they tell you, they are TD Bank. They claim they are Clover, but clover makes machines and POS systems, TD is a Toronto, Canadian Bank! Period.


  • Rashad Imran

    Cellpod accessories

    Td is charging me too much
    For payment processing
    I requested them to reduce the rates after using the td merchant services 10 years and they reduced rates only if I sign contract
    So I am using td from 10 years and still need contract to get good rates
    I was charged high rates
    Thanks other companies who told me this difference
    Td sales rep threatened me if I wil not sign contract right now. My services wil be disconnected. And I wil be charged 300$ for not using td
    It’s such a bad merchant service

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