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Commerce Bank Merchant Services Reviews & Complaints
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Pros: | Cons: |
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High customer retention rate. | Potential setup fees. |
Multiple payment options available. | Customer service variability. |
Fraud protection included. | Possible contract requirements. |
PCI DSS compliance support. | Transaction fees may apply. |
Consultative, tailored solutions. | Hardware/software costs. |
Transparent pricing structures. | Compliance complexities. |
Overview
In this review of Commerce Bank Merchant Services, we will provide a detailed overview of the company's credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company's pricing structure, contract terms, and specific features provided. By the end of this review, you will understand whether Commerce Bank Merchant Services meets your payment processing needs.
About Commerce Bank Merchant Services
Founded in 1865, Commerce Bank Merchant Services is a national bank and merchant account provider located in St. Louis, Missouri. Despite the fact that it is a bank and could therefore operate as a direct processor, the company resells the merchant services of First Data (now Fiserv).
Commerce Bank Merchant Products and Services
Payment Processing
Commerce Bank handles credit and debit card payments for businesses of various sizes and types.
Point-of-Sale Systems
Commerce Bank provides point-of-sale (POS) systems to facilitate efficient transaction management. These systems include countertop terminals, mobile card readers, and integrated solutions tailored for specific industries like retail and restaurants.
E-commerce Integration
To support businesses expanding online, Commerce Bank Merchant Services offers e-commerce solutions that integrate with popular shopping cart platforms. Their payment gateway supports secure online transactions, recurring billing, fraud prevention tools, and reporting capabilities.
Reporting and Analytics
Commerce Bank Merchant Services includes a comprehensive reporting and analytics platform. This tool allows businesses to track payment processing activities, providing insights into sales trends and transaction data, which helps in making informed business decisions.
Security and Compliance
Commerce Bank Merchant Services prioritizes security by adhering to standards such as the Payment Card Industry Data Security Standard (PCI DSS). They offer tools to help merchants maintain compliance and protect sensitive payment data.
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Commerce Bank Merchant Services Customer Reviews
Here's What Their Clients Say
Total Online Complaints | 100+ |
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Live Customer Support | Yes |
Most Common Complaint | N/A |
Recent Lawsuits | No |
Overview of Commerce Bank Merchant Services Reviews
We found over 100 Commerce Bank Merchant Services reviews, and notably, none of these reviews label the merchant services division as a ripoff or scam. The complaints we discovered primarily concern the company’s personal banking services and do not specifically address issues with First Data (Fiserv) as a merchant services provider. Therefore, these reviews do not adversely affect the merchant services division’s rating. If you have experiences with Commerce Bank Merchant Services, we invite you to share your review in the comments below.
Commerce Bank Merchant Services Lawsuits
No active class-action lawsuits or Federal Trade Commission (FTC) complaints have been filed against Commerce Bank Merchant Services. This is a positive indicator, especially in comparison to other providers on our best merchant accounts list. Clients seeking non-litigious resolution methods are advised to consider reporting to relevant supervisory organizations.
Customer Support Evaluation
Commerce Bank offers a contact form on their website for client support, and clearly states that support is provided by Commerce Bank’s own in-house team, not by First Data (Fiserv). Merchant clients generally report satisfaction with the services received from Commerce Bank. However, the range of communication channels available is somewhat limited compared to leading providers known for excellent customer service.
Contact Information for Commerce Bank Merchant Services
- (800) 828-1629 – Merchant Services Support
Commerce Bank Merchant Services Online Ratings
Here's How They Rate Online
BBB Reports | 68 |
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Over 50 Complaints
Commerce Bank has been accredited with the Better Business Bureau since 1961. As of this review, the company holds an “A+” rating with the BBB and has had 53 complaints filed against it in the last 36 months.
What Merchants Say
In addition to the 53 complaints filed with the BBB, Commerce Bank has also received 15 reviews, all of which are negative in tone. However, each of these reviews is in regard to its banking services and does not reflect the quality of its merchant accounts.
An “A” Performance
Given the size of the company and the fact that few of these complaints appear to be related to the company’s merchant services division, we agree with the BBB’s rating at this time. Business owners should note, however, that there are good reasons to be skeptical of the BBB’s rating system.
Commerce Bank Merchant Services Fees, Rates & Costs
A Closer Look at The Contract
Cancellation Penalties | Yes |
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Monthly & Annual Fees | Yes |
Processing Rates | Variable |
Equipment Leasing | Yes |
Variable Contract Terms
Commerce Bank Merchant Services, in partnership with First Data (now Fiserv), offers a variety of contract terms that typically reflect the extensive range of options available through First Data (Fiserv). This flexibility allows for contracts to be tailored to the specific needs of businesses based on their size, type, and operational history.
While the exact rates and fees can vary by reseller, for reference, businesses processing up to $50,000 monthly might expect a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. For higher volumes, rates could reduce to 2.29% plus $0.19 for swiped transactions and 3.29% plus $0.19 for keyed transactions. Options between month-to-month contracts and one to five-year service agreements are offered, with many First Data (Fiserv) contracts typically involving two to four years commitment, an early termination fee up to $495, and a PCI Compliance fee of $19.95 per month. Expensive, non-cancellable equipment leases through First Data Global Leasing may also be a consideration for up to 48 months.
It’s vital for business owners to thoroughly review all contract terms and actively negotiate to secure the best possible terms. For alternatives, comparing Commerce Bank’s offerings with our list of the best credit card processors is advisable.
No Red Flags
As of now, there are no publicly posted complaints specifically addressing Commerce Bank Merchant Services’ contract terms, suggesting a level of satisfaction among its clientele with their services. However, for those with direct experience or detailed information about Commerce Bank Merchant Services’ standard contract, contributing insights in the comments section could greatly benefit prospective clients.
Commerce Bank Merchant Services Employee Reviews & Sales Tacitcs
Should You Work For Them?
Uses Independent Resellers | No |
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Telemarketing | No |
Misleading Marketing | No |
Discloses All Important Terms | No |
Inside Sales Team
Commerce Bank appears to market itself primarily to its existing client base through traditional advertising. The company does not appear to employ independent sales agents, and we are currently unable to locate any Commerce Bank Merchant Services reviews that specifically mention unethical conduct by the company’s sales team.
No Deceptive Rates
In addition, the company does not appear to engage in any deceptive advertising strategies in its official materials. We will therefore assign the company an “A” rating for the time being. If you suspect that Commerce Bank is charging you hidden fees, we recommend seeking a third-party statement audit to eliminate undisclosed charges.
Our Commerce Bank Merchant Services Review Summary
Our Final Thoughts
Commerce Bank Merchant Services is recognized as a trustworthy credit card processor under our evaluation system. Processing transactions through First Data (now Fiserv), Commerce Bank seems to evade the higher complaint volumes typically associated with First Data (Fiserv) contracts, indicating robust management and customer service practices. Businesses that choose Commerce Bank for their credit card processing needs are presented with a spectrum of rates and fees that vary based on factors such as the type of business, its size, and operational history.
It’s crucial for business owners to conduct thorough comparisons before finalizing a merchant services agreement. By assessing Commerce Bank’s pricing structure in relation to that offered by top-rated merchant services providers, businesses can ensure they secure the most favorable terms. This diligence helps in not only understanding the competitive landscape but also in leveraging the best possible financial arrangements for their specific needs.
Location & Ownership
Though David Kemper is the Executive Chairman and John Kemper is the CEO of Commerce Bank, Rick Heise is the executive director of commercial payments, which oversees merchant account services. The company is headquartered at 1000 Walnut, Kansas City, MO 64106.
If you found this article helpful, please share it!
Calvin Lucille
I’m thrilled to share my experience with Commerce Bank Merchant Services! They’ve been an absolute game-changer for my business. From the moment I signed up, their team was attentive and efficient, making the onboarding process a breeze.
Since switching to Commerce Bank, I’ve noticed a significant increase in seamless transactions, which has undoubtedly boosted my sales. Their secure payment processing system gives me peace of mind, knowing that my customers’ data is well protected.
What sets Commerce Bank apart is their exceptional customer support. Whenever I’ve had a question or needed assistance, they’ve been quick to respond and resolve any issues.
In summary, I can’t recommend Commerce Bank Merchant Services enough. Their professionalism and casual friendliness make them the perfect partner for any business seeking reliable payment solutions.