Bank of America Merchant Services Review

After at least twenty years of banking with them, I will be closing all accounts I have with Bank of America. They have proven more than once that even if you’re a platinum preferred member, they do NOT care about you as a customer and they certainly DON’T have your back as their slogan says they do!

Bank of America Merchant Services does the shuck and jive with merchants' money. Service from anyone with any information regarding adjustments is non-existent. A convoluted mess with our accounts has occurred when they parted ways with fiserv. It seems only legal action will get their attention.

Our company has been in existence for 4 years now. We recently received a payment of $12,500 from our customer using Bank of America Merchant services. This was our 2nd transaction through BOA merchant. The first transaction took place earlier that week. We have never had a charged back transaction from a client to this day. However, Bank of America held the payment and charged us the processing fee! It's been 12 weeks and they are still holding the funds.

Absolutely worst company ever! Horrible, horrible customer service! You better clear out your schedule for the entire day if you call them, because they will just put you on hold for hours and hours! And you will still not have a resolution to your problem! Already filed a complaint with BBB.. this place needs to be shut down. They do not care one bit about customer satisfaction! This place is terrible! Does not even deserve 1 single star!

Don't trust Bank of America for merchant services, they are ripping of all their customers. Don't sign any contract with them. They charged me over $2,500 to lease a machine and at the end of it I have to buy the machine. Don't do business with them, I will move all my accounts to a different bank.

It's basically a trap. Once you sign the paper they have you on the hook.

Suffice it to say, my interaction with every single BofA Merchant Services rep was unpleasant and a waste of countless hours of time!! I was placed on hold repeatedly, hung up on, given misinformation, etc. After 30 plus years as a customer, I am leaving BofA and Merchant Services as quickly as possible. I am quite frankly appalled and horrified that there are such poor standards of customer service.

Criminals at BAMS will not tell you that the merchant services are NOT with Bank of America. The sales rep does not tell you there is a second contract for four years in addition to the 3 year BAMS contract. It is a purposely unethical method of leaving out important information that they profit very well from. You get a demand for equipment insurance from First Data which is when you initially find out you are involved contractually with another company. And if there is ever a problem with your surprise annual fee to both BAMS and First Data that you are never given notice of (my rep said there was a $50 annual fee in June which turned out to be a $100 fee in November, but there is a $50 fee from First Data too), you get a $50 collection fee immediately, the bank NSF fee plus another NSF from the 3rd party payment processing company you didn’t know you were using. A total of $110 in fees in case your account is low and you are not prepared for a surprise $100 deduction which is taken out with your processing fees, but with no breakdown given until your statement comes a week or two after the deduction. I could write an entire book of additional confusing fees by BAMS, My deposits were held one day for about $400 last December. When I called I was on hold to speak with collections for at least 30 minutes several times, to be hung up on by an unbelievably rude rep that refused to explain what the fees were for, and when I finally was given a breakdown of what I supposedly owed 3 calls later, there was still $140 that was never accounted for or returned to me. The BAMS representatives have a very hard time reaching their own collections department, so unless you have a minimum of two hours to spend on the phone (I’m NOT exaggerating), you will get nothing resolved. Please do not EVER sign anything that you cannot have a hard copy of on the spot. They have this pin pad they have you sign and they only show you what they want you to see. Don't do it!! My fault, after banking with B of A for 25 years I thought I knew what I was dealing with.

I cancelled the Bank of America services in July 2015. My business had financial difficulties and I closed my business in Jan 2017. Bank of America was charging me $38.49 every month from Feb 2015 till July 2017 which is now $1,293.19. Sales rep didn't explain to me that I will be charged for the machine for 4 years even though I cancelled the service in July 2015, and returned the machine. They are telling me that I still owe them 17 more months leasing fees $654.33. They are saying i have to talk to First Data and First Data is saying I have to talk to BOA. BOA is ripping off merchants with this fraudulent process.

Awful! No other way to describe it. Sales person sold me a service I didn’t need, by telling me I would get free business banking for the length of the agreement – this was sold to me via a telephone call. Afterwards I confirmed everything we discussed in an email. I was not charged banking fees for 6 months. After that – I was being charged fees – I spent numerous hours calling BOA to get fees waived. Got fees waived for another 6 months and then went through the process yet again. No one was able to track down the sales person who sold me the service (I had all her contact info including her cell number.) Then just last month I was charged a $120 annual fee for the merchant services (which I never used!) I called BOA yet again – bounced around a few people and pretty much begged them at this point to just cancel my service, refund the $120 and waive early termination fees. I got one person willing to waive $120 annual fee, but if they were going to terminate the agreement the termination fee was going to be $150. I asked for a supervisor and got a woman who pretended to care about me – who acknowledged that the person who sold me the service was misleading – and all she was willing to do was waive the termination fee – not the $120 annual fee. I asked her if she felt that was fair being I had never used the service – and she was just rude and said that’s all she could do. When I told her could do more, but is choosing not to – she became even more rude. When I told her that BOA will lose all my business (have bank accounts with them for 10 years) – she indicated she didn’t care since they were 2 separate entities. This was absolutely one of the worst customer service experiences I have ever had – that lasted about 18 months with their unwillingness to honor what they offered. I plan to close my BOA accounts and never use them again for anything.