Bank of America Merchant Services "bams" Reviews | Glassdoor

Bank of America Merchant Services Employee Reviews about "bams"

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
Pros
Cons
  • "BAMS listens to feedback and seeks the make fact based decisions from my experience (8 years with BAMS plus 19 with Bank of America before that)(in 13 reviews)

  • "Low base salary, confusing comp plan, no advancement opportunities(in 12 reviews)

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Reviews about "bams"

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  1. 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    Due to the massive growth, some the processes are either outdated, or non-existent.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
  2. Helpful (1)

    "VP, Veteran Program Director"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Vice President, Veteran Program Director in Atlanta, GA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Bank of America Merchant Services (BAMS) is committed to hiring more veterans (and spouses) and those currently serving in the Guard and Reserve components with industry experience and the right skill-sets we need. We have a dedicated Veteran Program Director who assists the recruiters in finding veterans and members of the Guard and Reserve to fill our open positions on a day to day basis. Additionally, we have... a Military Affinity Group that currently has 9% of our Associates who have joined. Lastly, in August of 2017, our CEO signed an Employer Support of the Guard and Reserve Statement of Support (ESGR). Leadership at all levels understand the high importance and benefits of hiring veterans and current members of the Guard and Reserve and their spouses.

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    Cons

    Currently making it an even higher priority in 2018 to hire more veterans.

    Bank of America Merchant Services2018-04-09
  3. "Positive Engaging Workplace"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Team Management in Spokane, WA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    My experience in working with BAMS has been very positive. I have always felt if you were willing to put in the work you are recognized and can find areas for advancement. BAMS has a great benefits package, wages are competitive and the work life is excellent. I feel like our management team goes out of their way to improve morale and keep associates engaged. We embrace change and are always looking for new and... better ways to get the job done.

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    Cons

    Like any employer we are a company trying to make a profit. In this day and age cutbacks are a way of life. Corporate involvement can make more change than is necessary but in the end it can be for the best.

    Advice to Management

    Keep working to do what’s in the best interest of the company and not specifically for the owners.

    Bank of America Merchant Services2018-04-12
  4. "A great place to work"

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

    I have been working at Bank of America Merchant Services full-time for more than 8 years

    Pros

    Leader in the payments industry. Support all segments of clients from small business to large corporate; diverse, fun and exciting industry to be part of. A CEO and executive team that is committed to associate experience. Open and honest communication occurs here. Huge focus on client experience...me and my team are empowered to take care of clients. Excellent benefits and compensation plan.

    Cons

    As with many larger companies, change can sometimes be slow. I don't consider it a con as much as something to be aware of with bigger companies. BAMS listens to feedback and seeks the make fact based decisions from my experience (8 years with BAMS plus 19 with Bank of America before that).

    Advice to Management

    Keep seeking feedback from clients and associates....we are on the right track and are feeling the positive effects of changes the company made 1Q 2017.

    Bank of America Merchant Services2018-04-08
  5. Helpful (1)

    "Headed the right direction"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    - Autonomy to create positive change within your areas of responsibility. - Team tend to pull together to solve problems vs. focusing on assigning blame first. - Able to change direction and strategy quickly to respond to changing market conditions, compared to larger organizations with more red tape. - Renewed focus on leadership development. - At BAMS, you are a person and not just a resource.

    Cons

    - Business model that has always worked in the past is aging and needs to be revamped to focus on higher growth opportunities. - Lack of transparency on company performance. - Tightly scrutinized expense management for individual expenditures vs. overall accountability for budget management for executives.

    Advice to Management

    - Regardless if we are ahead of or behind our financial plan, trust us to be big boys and girls with the information so we can set expectations appropriately with all associates. - Hold leaders accountable for their overall budget management and stop scrutinizing every business trip or headcount replacement they need to run their business. - Be open and honest about what is working and what is not so everyone is... on the same page and focused on the same mission.

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    Bank of America Merchant Services2018-04-05
  6. "Strong focus on both the client and associate expereince!"

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

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

    Pros

    There are a lot of opportunities to make a difference and make a positive impact BAMS. The senior leadership team is accessible, embrace diversity of thought, and open to challenging the status quo. There is a strong client focus and continual efforts to enhance the associate experience.

    Cons

    There are unique complexities and challenges with both process and system infrastructure as a result of being a joint venture between two large companies.

    Bank of America Merchant Services2018-04-06
  7. "A great brand and lots of opportunity to grow"

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

    I have been working at Bank of America Merchant Services full-time for more than 5 years

    Pros

    At BAMS you have so much opportunity to make a difference. The Bank of America brand brings instant credibility and opens doors to work with some of the biggest and most progressive merchants in the world. There is tremendous opportunity to step into leadership roles in this organization and really make a difference.

    Cons

    This industry is going through a dramatic shift to being led by fast moving technology companies. Due to the size and scope of BAMS business and the oversight that comes with being a part of a federally regulated bank it is hard to compete with the newer competitors.

    Advice to Management

    1. Stay focussed on the strategy and invest in the plan to with a long term view of the results. Measuring the business on short term wins will lead to sacrifice of the long term opportunity. 2. Continue to develop, invest and bring in talent to grow the digital and alternative channels. This will be the future of this business.

    Bank of America Merchant Services2018-03-21
  8. Helpful (1)

    "lack of recognition - zero job stability"

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

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

    Pros

    you can manage personal life

    Cons

    Bams is not a trustworthy business to work with. Some sales where not paid. employee constantly needs to make sure the Bams pays the comission correctly.

    Bank of America Merchant Services2017-12-05
  9. Helpful (3)

    "From bad to worse"

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

    401k match, decent benefits and non-executive coworkers are generally good people whom are all in this together. Some very knowledgeable and skilled people

    Cons

    This is a sinking ship. Workload is unfair and after a massive layoff of 300+ people work was shifted too many people whom are destined to fail. Goals are unrealistic and executive management is out of touch with what is going on and doesn't seem to care. I wouldn't recommend BAMS to anyone and will look to get out as soon as I can. Hopefully on my terms not theirs

    Advice to Management

    Get a better understanding of what your "doe'rs" are doing and at least acknowledge what they've been asked to take on post the "right-sizing" of the workforce. It's clear you don't care, well neither will your employees whom you need for the business to turnaround. Titanic v2 iceberg ahead

    Bank of America Merchant Services2017-11-04
  10. Helpful (2)

    "AVP, Business Consultant/Field Sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Assistant Vice President, Business Consultant 
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Outstanding training, knowledgeable leadership, structured procedures and excellent technology solutions.

    Cons

    Model is designed to assign to partner branches and the assignment will make or break you since areas that have less business due to location can kill your numbers, but you still have to support the branch with meetings and useless appointments. The most seasoned Rps will receive the top account referrals from the branches even if outside of his/her area, as that is allowed. Not so good if you are not that... seasoned Rep. Bank partners receive a lot of pressure to perform and leadership and management is not as positive there as it is for BAMS.

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    Advice to Management

    Change the model to even out the areas for entire team to have the same opportunities. The seasoned Rep does 5% self-sourcing and admits to that, but the Reps with bad areas have to do 95% self-sourcing in order to make their goals.

    Bank of America Merchant Services2017-07-20
Found 295 reviews