Wells Fargo Merchant Services

Wells Fargo Merchant Services is the merchant acquiring offering of Wells Fargo Bank, N.A., a US bank. Its listed services include merchant acquiring and a payment gateway, and the client type is businesses in the United States.

Business checking

The bank also provides Initiate, Navigate and Optimize Business Checking, with different levels of transactions and liquidity management. Optimize is aimed at large turnover and connects tools for ACH, fraud control and remote cheque deposit. A merchant that takes card payments can hold its settlement account with the same bank, which simplifies the flow of funds.

Terms by entity and market

KYB documents, account types, payment channels, published fees, opening deposits, settlement times and deposit insurance are described separately for each legal entity and market. The terms for United States merchants therefore need to be requested from the bank for the chosen service, and they should not be assumed to apply to other markets.

Who it suits

The offering suits businesses that want card acceptance together with a business account and treasury-style tools. Small businesses can compare the entry-level checking with the higher tiers, while merchants with large volumes can ask about the payment gateway, settlement timing and pricing, none of which is given in the published description.