Bank of America

Bank of America offers merchant acquiring and point-of-sale solutions to small businesses in the United States, including non-profit and healthcare organisations.

What is covered

The service accepts cards and mobile wallets at the counter and online. The bank states that proceeds reach every merchant by the next day, and on the same day for eligible account holders. Funds are credited to a business account held with the bank, so the acquiring product works best for companies that already bank with it.

Fees and protection

Pricing and the published fee schedule vary by merchant profile and are provided in the merchant agreement. For deposits, the bank discloses the standard insured-deposit regime for its US accounts, with coverage rules depending on ownership category.

Who it suits

Small and mid-sized US merchants, clinics and non-profits that prefer to keep their card processing and operating accounts under one bank will find the offer relevant. Companies operating outside the United States, or needing multi-currency acquiring, should confirm availability with the bank first.