Best for
Merchants in need of payment processing in the retail industry, for mobile payments and ecommerce payments.
Specializes in
TD Bank Merchant Solutions specializes in offering payment processing solutions to merchants who are interested in saving money on their monthly fees by also opening a TD Premier Business Checking account.
Pricing Summary
Setup Fee: N/A
Monthly Fee: N/A
Swipe Rate: Interchange-plus
Keyed-in Rate: Interchange-plus
Early Termination Fee : Unknown
Contract Terms:
TD Bank Merchant Solutions is the merchant account division of TD Bank.
This company is one of the largest banks in the United States and it provides payment processing for all types of businesses, including retail stores, online stores and merchants who need to accept mobile payments.
TD Bank Merchant Solutions is a part of TD Bank. The CEO and president is Bharat Masrani and the company is headquartered in Auburn, Maine.
TD Bank is one of the ten largest banks in the United States, and TD Bank Merchant Merchant Solutions is one of its divisions. The company is located in Auburn, Maine and its president and CEO is Bharat Masrani.
There is evidence to suggest that TD Bank Merchant Solutions is a reseller for First Data for its payment processing services. The company relies upon Peezy, which is First Data’s payment gateway. It also advertises Clover as a solution for merchants in need of POS systems.
TD Bank Merchant Processing offers services for various types of merchants, including those who operate online stores, retail stores and merchants who need to be able to accept mobile payments from their customers.
Head Quarters
Auburn, Maine
Year Founded
N/A
CEO
Bharat Masrani
Employees
N/A
Merchant Provider Risk Tolerance
Partners with Clover to provide hardware.
Offers help with establishing an online presence through Payeezy.
Customers have direct access to TD Bank’s vast merchant resources.
Transparency with rates and fees.
Same day setup for new accounts.
Three-year contract with one-year renewal after expiration.
48-month equipment leasing that is not cancelable.
Uses their Merchant Solutions as incentive to open a checking account with TD Bank.
Geared toward larger merchants.
No chat support.
Hardware & Software
TD Bank Merchant Solutions offers several options for hardware and software for its merchant customers. The company has partnered with Clover to provide countertop, tableside or mobile point of sale products and equipment.
Alternatively, merchants may also choose to get assistance with setting up their own online stores through Payeezy, which connects them with TD Bank Merchant Solutions’ payment gateway.
Value Added Services
Because TD Bank Merchant Solutions is a part of TD Bank, merchant customers have access to all of the financial institution’s products and services. The company offers its TD Premier Business Checking account to merchants in exchange for waiving their monthly fees for payment processing.
Additional services offered by TD Bank include:
Payroll services
Accounting services
Business loans
Business lines of credit
Paycheck protection program
Extensive resources for merchants
Also, TD Bank Merchant Solutions has a cash back program for merchants. They can earn 1% cash back with no transaction threshold required up to $300. Merchants that process $200,000 in sales within their first six months can earn an additional $200 bonus.
Supported Payment Types & Services
TD Bank Merchant Solutions payment processing services allow merchants to process many different types of payments, including:
Cash
Checks
All 4 major credit cards
Debit cards
Apple Pay
Google Pay
Discloses All Important Terms
No
Public Pricing Available
No
TD Bank Merchant Solutions offers tiered and interchange-plus pricing. Its pricing and fees are as follows:
Swipe rate - Interchange-plus
Keyed-in rate - Interchange-plus
Virtual terminal rate - Up to 2.90% + $0.30
Payment gateway fees - none
Payeezy Pro Plan fee - $19.95 per month
Early termination fee - $495
PCI compliance fee - $19.95 per month
Payeezy is the company that TD Bank Merchant Solutions utilizes for its payment gateway. There are two plans available.
Basic Plan
2.90% + $0.30
No gateway, statement or batch fees
Pro Plan
1.89% + $0.30
Monthly fee of $19.95
No other additional fees
Pricing Model
Interchange Plus
Swiped Rate
Interchange-plus
Keyed-in Rate
Interchange-plus
Mobile Payment Rate
Unknown
Virtual Terminal Rate
2.90% + $0.30
Monthly Fee
N/A
Payment Gateway Fee
NA
Batch Fee
Unknown
Early Termination Fee
Unknown
PCI Compliance Fee
$19.95 Per Month
Equipment Lease Terms
48 Month (locked)
Address Verification Service (AVS)
Unknown
Application Fee
Unknown
Account Setup Fee
N/A
Gateway Setup Fee
Unknown
Annual Fee
Unknown
Monthly Minimum
Unknown
Statement Fee
Unknown
TD Bank Merchant Solutions utilizes First Data as its payment processing network. Because of this, the company offers a wide variety of contract terms and pricing plans. However, it does have a standard agreement, which is usually a 3-year contract. Merchants will have the option of renewing their contracts for one year.
The company has 48-month equipment leasing terms that are locked and non-cancelable through First Data Global Leasing.
Contract Length
3 Years
Early Termination Fee
Unknown
TD Bank Merchant Solutions offers a same-day setup for merchants, and its merchant customers can begin accepting payments right away.
For any issues or questions, the company has a dedicated phone number for its sales team that offers support 24/7. There is also an automated form merchants can fill out for support requests.
BBB Rating
TD Bank Merchant Solutions does not have a profile listed with the Better Business Bureau and there are no complaints listed on the BBB website for this company.
Other Online Reviews
There are no negative complaints about TD Bank Merchant Solutions available online. This suggests that they offer exceptional customer service and that merchants who do business with them are satisfied with their products and services.
There are also no outstanding FTC complaints or class-action lawsuits on file for TD Bank Merchant Solutions.
BBB
NA
NA
NA
Yelp
NA
Total Online Reviews
Unknown
Total Online Complaints
Unknown
Lawsuits
Unknown
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