vs.
Just got a rate increase from Wells Fargo Bank where they want to raise my rates to 3% for US transactions and 6% for outside the US… and there are other fees that could add another 1% on nickle and dime stuff.
So I went to Bank of America and they are quoting me 2.13% on US and 2.47% on foreign and no other percentage charges. So I’m wondering – what’s up with that? Wells is almost twice the BofA rate.
I’ve been with Wells for a decade. My account is golden. No charge backs. Extremely low risk. Yet Wells is screwing me. However, not sure I can trust Bank of America. Am I missing something?
When did Gilroy get moved to San Mateo County?
But you’re right, Marc, everyone likes their bank until they get screwed. I was like that with BOFA. I never really used Wells, because, back when I was actually in banking and had to deal with them on a bank to bank level, they were completely clueless. Neither is on my good list these days.
I don’t think credit unions can do merchant accounts. Many posters seem to be confused thinking that you are talking about a credit card rather than a merchant account which is used to ACCEPT credit cards for purchases and process the charges so you, as the merchant get paid.
You might try US Bank if they have local offices. Or Costco as some have suggested.
Not one mention of Paypal.
Has everyone had lousy experiences with them?
#42 – Yes – I mean Santa Clara county. I used to live in San Bruno. Still getting to mixed up. As to PayPal – NO WAY! I really got screwed by them Here’s a recording of ME talking to paypla.
http://uservideos.smashits.com/video/laXiC8Aj_hI/PayPal-Nightmare-phone-call-remix-.html
Ha.. the ol which bank can I trust dilemma! The truth is they’ll both screw you as soon as you least suspect it. Go to your local credit union, they tend to care more about individuals.
OH, I didn’t realize it was a merchant account you were seeking..
Let’s see.. You already knocked PayPal, but PP is ideal for businesses with a small amount of transactions.
Another good merchant service company is RBSLynk they’re the merchant service arm of the Royal Bank of Scotland (AKA Citigroup).
Good luck!
Ah, Mark, perhaps you may wish to enquirer if your “next bank” will be pulling this BS on you soon (before you switch)
–snip–
Citibank needs seven days?
Effective April 1, 2010, we reserve the right to require seven (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change….”
–snip–
http://canadafreepress.com/index.php/article/20556
—-
Call me crazy…but me thinks that between now and April 1st, there will be good reason to for banks to institute policies that will prevent bank runs… anyway…something to check into nonetheless
(march 2010 is supposed to be the month TPTB start turning up the heat big time on the U.S kettle of water all us frogs are blindly basking in..)
*ribit*
anyone take a look at wheat futures lately? -hope your food pantry is stocked up..
-s
Doesn’t matter if you use BofA, WF, or Citi they all farm the business out to First Data. First Data sets the fees. They are all setup on “tiered” pricing Costco included, which has nothing to do with interchange which is set by Visa, MasterCard and Discover. Not going to bash the competition here. Please read my blog at http://www.saveyouamint.com YES you can process just like the mega merchants at true interchange, without the inflated rates and junk fees.
If it walks like a piggy, talks like a piggy, by golly it’s a PIGGY!
BofA and it’s CEO Brian Moynihan reminds me of that song by John Lennon and George Harrison titled “Piggies” I invite you to listen to this song on youtube and see if it appropriately fits. http://www.youtube.com/watch?v=MIopI2isIKc&feature=related</P
Have you seen the little piggies
Crawling in the dirt
And for all the little piggies
Life is getting worse
Always having dirt to play around in.
Have you seen the bigger piggies
In their starched white shirts
You will find the bigger piggies
Stirring up the dirt
Always have clean shirts to play around in.
In their ties with all their backing
They don't care what goes on around
In their eyes there's something lacking
What they need's a damn good whacking.
Everywhere there's lots of piggies
Living piggy lives
You can see them out for dinner
With their piggy wives
Clutching forks and knives to eat their bacon.
Wright vs. Bank of America Lawsuit
When I filed my lawsuit against Bank of America, myself and United Law Group thought of the many others out there in the same situation. It was then that we decided to educate the public on what these piggy banks are doing, as well as unite us all together as one voice. Please help me turn this David vs. Goliath modification process, into a Goliath vs. Goliath.
Please stand with me and United Law Group and send an email to Bank of America that states that we will no longer tolerate their potentially illegal, fraudulent, irregular and abusive business methods.
Divided we might have fell America, but united we must stand!
Please send your email directly to Bank of America and include the following:
1. Your name
2. Your complaint concerning your experience with Bank of America.
3. Please end your email “I support John Wright vs. BofA Lawsuit!”
4. Please send a copy of your email to johns-wright@hotmail.com
5. Please send your email to both BofA link below and the CEO email
BofA Linked Email
CEO Brian Moynihan:
brian.t.moynihan@bankofamerica.com
First I would like to say that Well Fargo is very strict. They charge TOO MUCH to EVER go bankrupted!
Well I work for a company that gives far less interest rates than B of A, Wells Fargo, Costco and any other bank. If you want to know more and are serious about getting a merchant service account started then call me at KWfinancials@gmail.com Not only are our rates far lower, but our devices you don’t rent and there’s no monthly for not making enough sales with the service. b of A charges I believe 25-50 and you must make over 1400.00. And all of them charge around 500 for their devices. Contact me and we’ll talk, If you’re serious then I can come to you and we can do business.
What about security features? B of A has no security features on their merchant account. I know this from experience as an ex employee stole thousands through the terminal.