Bank of America Merchant Services Reviews

Pros

Partner with retail branches go source leads. Acess to salesforce for all crm lead management. Good systems. Fast signing. All supplies included

Pros

This company is very work- life balance focused, with a very driven Leadership Team. The company provides great benefits including paid vacation, maternity leave, volunteer time, 401K matching to name a few. I have worked for the company for 15+ years and the tenure is long with most employees because they find not only a place of work, but also an extended family.

Advice to Management

Continue gathering feedback from associates and take their front line information to drive key process improvements within the business to continue serving our merchants in a great fashion.

Pros

I am a corporate employee who works out of the Charlotte office. Experiences likely differ based on department and manager, but I'll speak to my own experience having just passed my one year anniversary at Bank of America Merchant Services. Pros include work flexibility (opportunity to work from home), autonomy for those who want/need it, and a leadership team that generally seems committed to doing the right thing. The essential benefit package is very good and reasonably priced. I work with the best people and have a very good manager. In my opinion, the company does a great job of bringing in solid talent that pulls their weight. There aren't too many employees who just skate by doing the minimum. Again, could differ by team. In a nutshell, the company gets the big things right so I don't have any plans to leave in the immediate future.

Advice to Management

Continue to stretch what you think is traditional or the norm and aim to be more progressive/innovative. Take more of an initiative to celebrate your employees, more often. Help build pride in working for the company by giving employees company branded swag (sweatshirts, backpacks, etc). Allow for even more work flexibility (the choice of when and where to work), particularly for corporate employees where this is possible. This is the expectation of the modern workforce.

Pros

Since starting with Bank of America Merchant Services, I've been approached by multiple employers to go work for them, including one competing major bank. The industry knowledge you can learn here (if you make the effort to learn it) is invaluable, and there is no better demonstration of that than the fact that competitors are constantly trying to poach talent.

Bank of America Merchant Services is working on making itself a military friendly company, and actively makes efforts to hire vets and transitioning active duty military.

There is an opportunity to make good money working here, and the previous reviews about a constantly changing compensation plan aren't really accurate anymore. The compensation plan changed once in the past year, and there aren't any major changes announced for the next year.

Overall, you can learn a lot that can either help you make more money within the industry (either at Bank of America Merchant Services or a competitor), or open up doors in other industries (banking, lending). The benefits are pretty good, and so is the pay.

Advice to Management

Don't punish everyone for the mistakes of a few people. If there are problems, identify the problematic elements and address them individually. Also, investing in technology solutions can resolve a lot of the human related errors, and this will lead to increased productivity and better customer experience.

Pros

Remote Position and referral come from the banking centers.

Pros

Much like a startup, BAMS has gone through some impressive early growth to become the 2nd largest player in the industry, and is now charting the path for their next step. The company is now transforming from a "medium" to "large" company in one of the fastest growing technological spaces, payments. While there are definitely some growing pains(witness the changing of the old guard), this presents huge opportunity for individuals to with the right mindset. Despite the name, this is not a mega corporation where you can come in and coast without repercussions.

Advice to Management

Align more with Bank of America Merrill Lynch, as opposed to the constant sales culture of First Data. This will engender more "trust" and future from our clients over the long term.

Pros

Good benefits (medical, health, dental, 401k), volunteer time off, federal holidays off, no weekends, ramp up money for 6 months

Advice to Management

Listen to your employees doing the job, especially inside. Make inside sales a more organize department. Inside should have there own training. Get rid of banks that's not giving the consultants quality leads. Increase the salary, employees are to underpaid.

Pros

Each change negatively effects the growth of the team, reduces the salary and moral.

Advice to Management

They are part of the problem not the solution.

Pros

Great managers, team environment and patient clients

Advice to Management

Don't tell associates you want to hear from them and not act, or create façade that looks like you listened but in the end no changes occurred.

Pros

They don't have huge turnover, layoffs seem to be rare.
In lower management at their call centers, there seem to be a lot of women in leadership positions.
Feedback is ignored less than typical in an organization this size.