Bank of America Merchant Services Sales Reviews | Glassdoor

Bank of America Merchant Services Sales Reviews

Updated Aug 16, 2019

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Found 21 reviews

3.6
StarStarStarStarStar
Rating TrendsRating Trends
73%
Recommend to a Friend
57%
Approve of CEO
Bank of America Merchant Services CEO Tim Tynan  (no image)
Tim Tynan
9 Ratings
  1. Featured Review
    Helpful (3)

    "Great Place to work - Highly Recommend!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Regional Sales Leader in Miami, FL
    Recommends
    Approves of CEO

    I have been working at Bank of America Merchant Services full-time for more than 10 years

    Pros

    One of the fastest moving industries - provides sales associates an opportunity at "business ownership", and opportunity to reap what you sow $. Engaged with employees, they listed to feedback and take action. Client centric, evolving technology, GREAT people. Amazing bank partnership.

    Cons

    Sales is not for everyone: You must be a self-disciplined, organized, person with a HUNGER to compete and succeed, while ALWAYS doing what's right. Put others ahead of yourself - is that a con?? maybe not for YOU! :)

    Advice to Management

    Keep listening to and putting associates FIRST.

    Bank of America Merchant Services2019-01-19
  2. "Good to do but not for more than a year"

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

    I worked at Bank of America Merchant Services full-time for more than a year

    Pros

    well paying job for what you actually do.

    Cons

    Gets very repetitive and boring at times

    Bank of America Merchant Services2019-08-16
  3. "Great People"

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

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

    Pros

    The people are great. The benefits are great.

    Cons

    Advancement opportunity is somewhat limited.

    Bank of America Merchant Services2019-01-23
  4. 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
  5. 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
  6. "Sales Rep"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Outside Sales Representative in Greenville, SC
    Recommends
    Positive Outlook

    I have been working at Bank of America Merchant Services full-time for more than 10 years

    Pros

    The pay is good and reps have a lot of freedom if they are at plan. There are also a lot of great people I work with. 3 year residuals on accounts is also a great perk.

    Cons

    The compensation plan has constricted a good bit over the last few years. They make it harder each year to make money.

    Bank of America Merchant Services2018-04-11
  7. Helpful (1)

    "Sales"

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

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

    Show More
    Bank of America Merchant Services2017-10-05
  8. Helpful (1)

    "BAMS Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Sales Associate 

    I worked at Bank of America Merchant Services full-time for more than 5 years

    Pros

    Decent money and health benefits,

    Cons

    Last year Bank of America Merchant Services has burned through upper level management in attempt to fix a company that has some issues. Instead of taking care of the customers they have on the books they increase revenue by random rate and fee increases and pushing leasing on the merchant which is rarely in the merchants best interest. Employee work / life balance is non-existent. If you work for this company... plan on working 60 hours a week and that may not be enough.

    Show More
    Bank of America Merchant Services2017-10-24
  9. Helpful (10)

    "Regional Sales Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Regional Sales Manager in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bank of America Merchant Services full-time for more than a year

    Pros

    None. Zero. My last day was the best day! I lost 10 pounds due to stress and no time to eat!

    Cons

    The bankers treat new reps badly. They tell you merchant has a bad rap and continue to perpetuate that as a reason for their own failure. The bankers are paid on approvals which doesn't align with your revenue goals. Merchant is not a priority for the bank and leadership at BAMS says it's your problem. If you present a challenge they say it's an "excuse". When you don't produce revenue because your chasing low... value bank referrals they fire you and hire someone else and history repeats itself. This couldn't be a more dysfunctional environment. They will suck the life out of you and expect you to work long hours with an insane, unmanageable workload. Expect to log a play by play of your day in Salesforce. Expense reimbursement can take several weeks. They discuss showing genuine concern for your client, but contradict that by encouraging shady pricing strategies to include a rate plus model with a significant bill back and locking people into noncancellable leases. I saw more than 16 people come and go in my market in less than 2 years at BAMS. They don't do exit interviews and could care less why. Upper management changes strategy every few months so get ready to take several turns and do exhausting acrobatics to survive. This work environment = Toxic, Artificial, Careless, Detached, Shady, Unpredictable.

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    Advice to Management

    Until you address the root cause of your failure to produce revenue you will continue to go through good people and lose more business then what your signing.

    Bank of America Merchant Services2017-04-12
  10. "avp- merchant solution specialist"

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

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

    Pros

    casual dress, great benefits, great team

    Cons

    lots of changes, not many opportunities to move in company, less and less referrals

    Bank of America Merchant Services2017-03-25
Found 21 reviews