Bank of America Merchant Services Reviews | Glassdoor

Find your next job here

Bank of America Merchant Services Reviews

Updated February 13, 2018
219 reviews

Filter

Filter

Full-timePart-time

2.6
StarStarStarStarStar
Rating TrendsRating Trends
Recommend to a friend
Approve of CEO
(no image)
Tim Tynan
103 Ratings

219 Employee Reviews

Sort: PopularRatingDate

Pros
Cons
More Pros and Cons

  1. Featured Review

    "Business sales consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Bank of America Merchant Services full-time

    Pros

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

    Cons

    No access to bank systems and sometimes clients won't know account information to get set up otherwise everything is great


  2. "Merchant Services Business Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Consultant in Arlington, VA
    Former Employee - Business Consultant in Arlington, VA
    Neutral Outlook
    No opinion of CEO

    I worked at Bank of America Merchant Services (More than 3 years)

    Pros

    Compensation was good when I was there. I am not sure what it is like now. I also met a lot of great people while working there. I had the opportunity to help alot of merchants..

    Cons

    Commission structure changed very often and never made sense. Poor management at times. To much micromanagement from leaders that have never done the job. They attempt to use textbook scenarios to close customers, and say it is genuine concern without addressing real concern for the merchant customer. Poor work life balance.

  3. "Supportive environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Support Specialist in Liberty Lake, WA
    Former Employee - Client Support Specialist in Liberty Lake, WA
    Recommends
    Positive Outlook
    No opinion of CEO

    I worked at Bank of America Merchant Services full-time (Less than a year)

    Pros

    The training was good though could be shortened. Fellow co-workers are very supportive and helpful. Management strives to create a friendly work environment.

    Cons

    Management could do a better job explaining metrics and what to watch for during normal work routine.

    Advice to Management

    Better inform new employees about metrics so they are not set up to fail. Otherwise, keep up the positive work environment.


  4. Helpful (1)

    "Good Income Potential"

    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
    No opinion of CEO

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

    Pros

    Good earning potential with hard work.

    Cons

    Must compromise integrity in some instances.


  5. "Consulting"

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

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

    Pros

    Great healthcare/401K programs.

    Cons

    Not enough support to help with the expectation of the work load. reduction in stuff means more work on others.


  6. "Merchant Services does collaboration, teamwork, and manager relationships really well"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Communications Manager in Charlotte, NC
    Current Employee - Communications Manager 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

    Asking for and acting on employee feedback (we are surveyed every year). Health benefits are a bit above industry standard. Managers/leaders collaborate well. People don’t hesitate to recognize other for great work and collaboration. Personally, I have a manager who comes to us to ask questions, acts on any snags we’ve hit, helps us adjusts and readjusts, and then provides great, constructive feedback.

    Cons

    Young company still finding its footing in a tricky industry and hasn’t quite found a comfortable place to be great in. Executive team doesn’t really communicate (transparently and consistently) well which leaves employees with no sense of how we are doing (could be because of lack of human communication resources). Several senior/team leaders “manage up” (they struggle with saying ‘no’ to executives).

    Advice to Management

    Take more time to communicate in your own words. Speak to us like we are intelligent, active members of this industry. Be transparent.


  7. "Real review of Bank of America Merchant Services"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President, Business Consultant in Dallas, TX
    Current Employee - Assistant Vice President, Business Consultant in Dallas, TX
    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

    For an entry level position that has decent hours and has very little prerequisites the pay and benefits are good. Very profitable industry to get into, and great opportunity to learn with having the added security of having a base salary.

    Cons

    Lots.
    1. Across the board for the whole entire company, the majority of BC (business consultants, frontline sales position) in the Small Business segment of the company are a sad combination of untrained, incompetent, and morally bankrupt. It's hard for me to tell when I hear other BCs on the floor lying to their customers and bank partners whether it's due to lack of training, ignorance regarding our products and our competitors, or knowingly lying to try and make a quick buck. Not sure which is worse.

    2. Management across the board constantly sends out mixed messages. The new company "Core Values" emphasizes taking care of the customer and not ripping off our customers (like the company has been doing for the past decade). Yet the only recognition or metric by which BCs are measured are on revenue we bring into the company.

    3. Across the board, the consensus is the metric used by the company to measure productivity has no actual impact increasing sales and is useless busy work. To make matters worse, the company doubled the sales goals for inside reps. So, you're asked to do a bunch of pointless busy work, and still expected to hit unrealistic sales goals.

    4. The various support departments are largely useless.

    5. The allocation of resources within the company is laughable. The company laid off 12% of the various departments in support and inside sales, and then two weeks later bought over 400 Field BCs new 2 - 1 tablet devices and new phones. The majority of inside sales reps are still using old out dated laptops that take 10 minutes to turn on and log in with.

    6. The commission plan is a joke. If you aren't at 50% to your unrealistic in month sales goal, you don't get paid your recurring commission (depending on the BC, that could be anywhere from 50% to 80% of your paycheck).

    7. Nepotism in various and numerous forms. The company bends over backwards to accommodate the Field BCs, and selectively enforces the written rules of engagement.

    Advice to Management

    None. After undergoing numerous management changes, I have absolutely no reason to believe that the company will actually take the necessary actions to make this an enjoyable place to work. Or even a remotely tolerant place to work. The only thing driving the current changes is revenue, and the only hope I have is that at some point all of the reputation damage from the countless BCs throughout the country screwing over Bank of America Small Business customers will cause a significant enough of a drop in revenue for the company to actually fix it's fundamental problems.

  8. Helpful (1)

    "Marketing Manager"

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

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

    Pros

    Great corporate culture, people are very talented and also kind. Big focus on work/life balance and talent development. Leadership always made sure you had everything you need to do your job successfully. When I was included in the corporate restructuring lay offs, they provided a generous severance package and paid for a career transition service to help me find employment elsewhere. Especially for a "big bank," they really go above and beyond to make their employees feel cared for, even after they've left the company.

    Cons

    This is common for a somewhat new and growing company, but partners were sometimes stretched too thin. Although leadership and teammates would always jump in to help, there was only so much they could do, as everyone had full plates.


  9. Helpful (2)

    "Stressful Money"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Solutions Consultant
    Former Employee - Business Solutions Consultant
    Negative Outlook
    Approves of CEO

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

    Pros

    Good Pay, benefits, base salary

    Cons

    High pressure industry sun-setting to the internet. Don't hold your breath on 'Year End Bucket' bonuses. Look at Square's stock performance this year vs. First Data. Look at what Amazon is doing with their store in Seattle. When I was laid off severance pay was minimal.

    Advice to Management

    Please completely honest and transparent about bonus comp plan moving forward


  10. Helpful (2)

    "Grass is always greener"

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

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

    Pros

    I was able to work from home, made bonus regularly, and managed my portfolio of clients without much micromanaging.

    Cons

    The position lacked any clear defined roles. Work life balance doesnt exist - there is so much work that you have to work 60 hour weeks or know you just wont get things done if you try to work normal. Management is hit or miss - some are great, most not in terms of being helpful when you go to them with questions or in terms of job development.

    Advice to Management

    Decide what each job role should actually do, so you can set goals and allow employees to clearly know what they are to do in order to be compensated. I made bonus every quarter while i was there and I still have no idea what metrics those bonuses were paid out on.


Showing 219 of 220 reviews
Reset Filters