Bank of America Merchant Services Reviews | Glassdoor

Bank of America Merchant Services Reviews

Updated October 18, 2017
197 reviews

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2.8
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Tim Tynan
87 Ratings

197 Employee Reviews

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Pros
Cons
  • No room for growth, complicated comp plan (in 13 reviews)

  • no room for growth unless you get a management job in a different state (in 6 reviews)

More Pros and Cons

  1. "Good work-life balance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Marketing in Charlotte, NC
    Current Employee - Marketing in Charlotte, NC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America Merchant Services full-time (More than a year)

    Pros

    Nice offices and co-workers. Some work schedule flexibility is a big plus.

    Cons

    Lack of face-to-face interaction as many colleagues and managers sit in other locations.

    Advice to Management

    Could give better direction and be more supportive to your teams.


  2. "Situation is not good..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President Sales Specialist
    Current Employee - Assistant Vice President Sales Specialist
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time (More than 5 years)

    Pros

    Maybe a light at the end of the tunnel in 2018... Big maybe....

    Cons

    Wages decreasing, work environment, lack of training, lack of leadership and transparency.

    Advice to Management

    Invest in training your sales managers. Enforce ethics and sales principles that you are hoping to transition BAMS and the industry to. Sales managers are just figure heads but have little to no training or experience on how to manage people.

  3. "Sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales
    Current Employee - Sales
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time (More than 3 years)

    Pros

    Bank relationship provides solid leads
    Benefits; pay, insurance, 401k
    Technology from FD alliance

    Cons

    Company structure
    Commission reporting isn't always accurate
    Not many have sense of urgency
    Upper Leadership is clueless
    Training ( you can train all day on products, but these people are clueless on merchant basics such as pricing that ultimately affects our clients )

    Advice to Management

    Stop focusing on changing company structure and start focusing on our clients and the BOA partnership. You can come up with ways to generate thousands of leads, but if your talent isn't loyal, knowledgeable and competent your wasting time. BAMS leaders need to step up and take control. Too many BOA people coming in making careless decisions. So much talent has already left and I foresee a lot more like myself to start pursuing.


  4. "Contact Center Rep."

    StarStarStarStarStar
    Former Employee - Contact Center Representative in Coral Springs, FL
    Former Employee - Contact Center Representative in Coral Springs, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bank of America Merchant Services part-time (More than a year)

    Pros

    Sometimes offered extra incentives for ET.

    Cons

    Rules and policy are all confusing and not fluid with each other.


  5. "Sales Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Richmond, VA
    Current Employee - Anonymous Employee in Richmond, VA
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bank of America Merchant Services full-time (More than 3 years)

    Pros

    The best thing about the company is thr Competitive pay. Salary plus commission. Great work environment. Good upper management. Consistent schedule. Flexibility.

    Cons

    The lower level managers need training. It is obvious that there is favoritism and a lack of professionalism. The commission plan changes a lot.


  6. Helpful (4)

    "Look Elsewhere"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Coral Springs, FL
    Current Employee - Anonymous Employee in Coral Springs, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time (More than a year)

    Pros

    Good benefits, health matching 401K

    Cons

    Everything else. Management is horrible, they have no clue how be be leaders, not bosses. One year the comp plan is great and because everyone made money the following year they change the comp plan and no one is on target to make the same income they made last year. The company doesn't care about their employees at all. The company just had major layoffs, the the CEO calls it "right sizing". How ridiculous. Since the company lost money last year, ask the upper management not to take large bonuses! This place is extremely micro managed and employees are treated as children. All sales professionals are making about 25% less than they did last year.
    I can go on and on about what a toxic environment this place is, but just don't accept a position here.

    Advice to Management

    Take care of your employees, and they will take care of your clients. Management doesn't have a clue how to do that.


  7. Helpful (1)

    "Needs a reboot with new management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Consultant in West Seattle, WA
    Former Employee - Business Consultant in West Seattle, WA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bank of America Merchant Services full-time (More than 10 years)

    Pros

    Great co-workers and some positions offer flex schedule

    Cons

    The company it too top heavy, way too much management and not enough workers. In my position I was tasked with doing the work of four people, as associates leave the company they don't replace them, they just reassign the work to others. The goals were unachievable and they would find reasons not to pay commissions constantly. When I left I hadn't had a raise or merit increase in 7 years. The commission/incentive plan that was established every January would be changed every July and possibly again in October or November to avoid making payments on sales that we would have worked on all year.

    Advice to Management

    Stop focusing on sales goals and take a look at retention of not only clients but your long term staff. Give them the tools to succeed and the support they need to have a work life balance that is supposed to be one of your core values

  8. Helpful (1)

    "Raises rates 6x per year"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Bank of America Merchant Services full-time

    Pros

    The bank partnerships are excellent. They try very hard to find warm quality leads. The customer service is always available 24/7 and it's US based. They have never had a breach, TransArmor is the best in the industry.

    Cons

    Bank of America Merchant Services raises their prices up to 6 times in one year on their clients. Some of my best clients left because they were going to save more with other ISOs. Trying to get them back is very hard because you can't promise them their rates will stay low.

    Advice to Management

    Stop making decisions internally without looking at the full picture of how it will affect daily business. You tread backwards to fix it. The goals need to be realistic in comparison to the resources each rep has. The genuine concern focus does not match the POS goals expected. Management leads with fear instead of motivation and encouragement. The RSLs need more training on how to manage with positive motivation.


  9. "Sweat shop"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Richmond, VA
    Former Employee - Assistant Vice President in Richmond, VA
    Recommends
    Negative Outlook
    Approves of CEO

    I worked at Bank of America Merchant Services full-time (More than 5 years)

    Pros

    None that I can think of

    Cons

    After training, there's very little learning curve. Management is lousy and your success is solely based on performance of remote branches and their sometimes lousy leads.

    Advice to Management

    I'd like to see them sink or swim like the employees


  10. "Great Company to Work For!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Consultant in Alexandria, VA
    Current Employee - Business Consultant in Alexandria, VA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America Merchant Services (More than 5 years)

    Pros

    Great place to work if you are driven. Tons of opportunity to connect with clients through the banking centers.

    Cons

    Poor work/life balance. Working with clients can draw your time outside of the regular 9 to 5.


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