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    5 Replies Latest reply on Dec 16, 2011 11:55 AM by trubel9

    Using Bank of America

    cookiecrumbs Newbie
      We are interested in having Bank of America provide merchant services for our existing online store, which is hosted through Yahoo Small Business. Does anyone know if they're compatible? We recently switched our business checking to Bank of America and learned they offer 24 hour deposits.
        • Re: Using Bank of America
          LUCKIEST Guide
          Using Bank of America, Welcome

          Tell us more about yourself and your business.

          Thanks and good luck, LUCKIEST
          • Re: Using Bank of America
            DomainDiva Ranger

            Contact the Manager at the BofA branch where you bank. They will be able to put you in contact with someone from credit card processing. Before you sign up with anyone however don't forget to check the rates offered by other processing companies as well. Fees can vary by as much as a percentage point. It all adds up.
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              • Re: Using Bank of America for Yahoo Merchant Solutions
                cookiecrumbs Newbie
                Thanks for the replies. However, the point of this thread was to learn if Yahoo Merchant Solutions and Bank of America Merchant Services are compatible. We have a Yahoo Store and learned from our bank, Bank of America, that deposits occur within 24 hours from batching out. However, I've heard from one source that the two are not compatible.
                  • Re: Using Bank of America for Yahoo Merchant Solutions
                    amspcs Ranger

                    What you are asking is if your gateway store (Yahoo) is compatible with your credit card processor (Bank of America). The definitve answer to that is: Maybe. You need to find out from your credit card processor which 'front end network' platform.they utilize, which will be something like FDR, Vital, or whatever. . Then, you need to contact Yahoo tech support and find out if their system is compatible with that platform. It's as simple as that. The credit card processor possibly can set up your merchant account on a number of different front-end platforms, so if you find out which one(s) Yahoo works best with, then you can ask the merchant processor to please set up your account on that platform. If they can't, then you need to either select a different gateway or a different merchant account provider. What you absolutely do NOT want to do is paint yourself into a corner with some hokey 'bundled' solution in which you're locked in on both ends.

                    Now that we've answered the B of A/Yahoo question, lets move on to other issues; The 'next day deposit' issue isn't anything particularly special or unusual in the processing industry. If your business type, credit,
                    average ticket and volume numbers support it, any reputable processor should be able to provide that. If, on the other hand, it is not justified, no processor will provide it for long if at all, including B of A.

                    Be aware also that, while B of A is a very good processor, if you think you are getting bargain rates by processing with your bank, guess again because this is not necessarily the case at all. There are lots of good processors out there offering very good processing programs which your bank offered deal may or may not match up with. And don't let anybody tell you that you must process with a particular bank if your bank account is there, because that just is not so.

                    Moral of story: Do your due diligence and shop around a little before you bite on the first hook that drops in the water.

                    • Re: Using Bank of America for Yahoo Merchant Solutions
                      trubel9 Newbie

                      The two solutions are completely compatible. Please talk to your Bank of America Merchant Services account manager. They were recently trained on the tight integration between Bank of America Merchant Services and Yahoo Small Business.