Bank of America Merchant Services Reviews | Glassdoor

Bank of America Merchant Services Reviews

Updated Sep 4, 2019

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Found 295 reviews

3.3
StarStarStarStarStar
Rating TrendsRating Trends
52%
Recommend to a Friend
61%
Approve of CEO
Bank of America Merchant Services CEO Tim Tynan  (no image)
Tim Tynan
153 Ratings
  1. "There are pros and cons"

    StarStarStarStarStar
    Current Employee - Anonymous Employee 

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

    Pros

    Good management team of industry veterans

    Cons

    Joint venture structure is tough

    Bank of America Merchant Services2019-01-19
  2. "Sales"

    StarStarStarStarStar
     

    I have been working at Bank of America Merchant Services

    Pros

    Great place to work! Leadership are forward thinking and the company values their employees.

    Cons

    None yet but it’s only been a year.

    Bank of America Merchant Services2019-01-17
  3. Helpful (3)

    "Sucks the life out of you"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Assistant Vice President Inside Small Business Consultant in Coral Springs, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time for more than a year

    Pros

    You get a pay check

    Cons

    No way to control your own success Constant changes that take money out of your pocket No loyaltee to employees Weak management No work life balance Unreasonable goals and expectations

    Advice to Management

    Listen to your employees and dont be afraid to speak up to upper management, put in the effort to help your employees and they will produce more. Stop giving political answers to genuine questions and concerns from your employees. Recognize when something isn't working and take action.

    Bank of America Merchant Services2019-02-20
  4. "AVP, Small Business Specialist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 

    I have been working at Bank of America Merchant Services full-time for more than 3 years

    Pros

    Outside sales, set your schedule, referrals from banking centers, good base and mileage reimbursement. Fun job if you like working with small businesses

    Cons

    Technology platform is old and takes forever to complete your case paperwork. Sale Management team is required to micromanage through multiple forms of reports that could be run from salesforce but you have to do manually.

    Bank of America Merchant Services2019-01-08
  5. Helpful (5)

    "Great Potential Ruined by Poor Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Inside Sales Representative in Coral Springs, FL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America Merchant Services for more than 3 years

    Pros

    If you get a good market, you can make good money.

    Cons

    Job was fantastic at the start however the change of increased pressure to upsell to small businesses who truly didn't need the product and the mindset of "if you don't, you're bad at your job" took away any remaining job enjoyment that existed.

    Bank of America Merchant Services2018-12-27
  6. Helpful (1)

    "ok"

    StarStarStarStarStar
    Former Employee - Anonymous Employee in Atlanta, GA

    I worked at Bank of America Merchant Services full-time for more than 3 years

    Pros

    good start up if you already have sales experience in outside sales

    Cons

    inconsistent commission structure, back office help is slow and there are many channels to get to a solution for your client, management is does not understand what it takes to be out in the field- most come from bank experience or other industries

    Advice to Management

    help develop your current employees rather than firing and hiring someone who will quit in 3 months. stop with the hr is monitoring you threats, hr is here to help, not manage daily performance, be nicer to your employees.

    Bank of America Merchant Services2018-12-02
  7. Helpful (6)

    "New role, new rating"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Assistant Vice President, Inside Sales Specialist-Client Managed in Dallas, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of America Merchant Services full-time for more than 3 years

    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.

    Show More

    Cons

    Depending on the department or team you're on, your experiences may be different. The organization is divided into two major segments. Within the two segments, there are sales and support roles. Within sales, there are divisions based on channel and territory. In my previous role, there were a lot of things I didn't care for: - Goals within goals - Mixed or changing messaging on objectives - Behavior goals that... were supposed to help achieve revenue goals (the goals that matter), but really were a hinderance - Lack of resources (which forces you to have to learn jobs outside of your own) Within my new role, I don't have those same issues. I'm also fortunate to have a great manager who actively works with me to help me progress in my role and my career. I have access to tools that I need, and if there is something I don't have but need. I just send a request to my manager.

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    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.

    Bank of America Merchant Services2018-09-21
  8. Helpful (2)

    "Overall, I've enjoyed the past year at Bank of America Merchant Services..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Corporate Employee in Charlotte, NC
    Recommends
    Positive Outlook
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time for more than a year

    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.

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    Cons

    The company has a long way to go to define a company culture, and communicating and demonstrating that culture day to day. Departments feel siloed. This is not your modern millennial-focused company (at least not yet) that gives employees company sweatshirts, fun perks/amenities, or the best technology to work with. At times there is resistance to solutions that are progressive/different from how things have been... done in the past. These aspects can be underwhelming. I would also like to see the ability to roll over a portion or all of unused vacation time.

    Show More

    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.

    Show More
    Bank of America Merchant Services2018-09-21
  9. Helpful (1)

    "Ripe with Opportunity for the Right Person"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Vice President Sales 
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bank of America Merchant Services full-time for more than a year

    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.

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    Cons

    Due to the massive growth, some the processes are either outdated, or non-existent. This can be frustrating, but is changing. Also, as smaller organization, we do not enjoy the comprehensive health and financial benefits that our large partners, First Data and Bank of America do, though they are in line with companies are size.

    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.

    Bank of America Merchant Services2018-09-21
  10. Helpful (2)

    "Business Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Coral Springs, FL
    Disapproves of CEO

    I have been working at Bank of America Merchant Services full-time for less than a year

    Pros

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

    Cons

    They turned the office into a call center. The other consultants have there own territories for banking centers. Very tough, hard job. You must have thick skin, take a deep breath & roll your sleeve up every week. Training is a joke and terrible. You learn more when you get out of training by doing the job. Can be stressful at times. Lots of product knowledge involved. If you get a bad territory with bad leads,... then it will be hard for you to make your high sales goals. Then, based on your numbers, you will be terminated. Spanish and Caribbean are favored We are doing everything...no customer service department. A lot of work with little commission and low salary. No job security. They started the ramp up money because a lot of new employees that start, then quit.

    Show More

    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.

    Bank of America Merchant Services2018-10-21
Found 295 reviews