Truist Merchant ServicesC64
Platform & Vertical SaaS · Established businesses that already bank with Truist and hold balances of $25,000 or more, so that next-day…
Overview
Truist's merchant offer is the bank's offer — one relationship, one login once Merchant Engage reaches you, and settlement into the account you already run payroll from the next business day. Because Truist is the acquirer rather than a referral partner, it can price and support the account itself, and the $100-style sign-on credits and balance-linked statement credits it advertises are real money for a small shop. But the agreement is the least flexible part: three years, auto-renewal, $500 to leave early, 60 days' notice, a right to reserves, and a clause that says you must give notice before you sign with anyone else. Get the rate offer in writing, ask for the term and termination fee to be struck or shortened before you sign — the guide itself says Truist will match a competing offer or waive the fee — and only then decide whether the banking convenience is worth it.
Best for: Established businesses that already bank with Truist and hold balances of $25,000 or more, so that next-day funding, the statement credits and a single relationship manager are all in play; multi-location retailers and professional practices in Truist's south-eastern and mid-Atlantic footprint that want a bank-owned acquirer rather than an ISO; treasury clients who want merchant acceptance alongside commercial cards, payables and receivables.
Strengths
- + Bank-owned acquiring: Truist Bank is the party on the merchant agreement and pays you directly, after buying out the SunTrust Merchant Services joint venture in 2022, so pricing, support and settlement are decided by the bank you already deal with rather than a referral partner.
- + Next-business-day funding into a Truist business checking account for eligible merchants, plus $5 or $10 monthly statement credits when combined deposit balances reach $25,000 or $50,000.
- + In-house merchant consultants and a 24/7 technical support line, with existing-client support on weekdays from 8 am to 9 pm Eastern.
- + A written match-or-waive clause: if you bring a competing written offer, Truist must make a comparable offer or waive the early-termination fee.
- + Truist Merchant Engage, launched in mid-2025, brings sales, settlement and onboarding into the bank's own digital experience — the kind of integration that fintech-style acquirers have and most bank programmes do not.
Trade-offs
- – No published pricing at all: every rate, monthly fee and equipment charge is in a quote and an attached fee schedule, so there is nothing to compare until a consultant has your application.
- – A three-year initial term with automatic one-year renewals, a 60-day notice window, and a $500 early-termination fee per merchant account ($250 in a renewal term) — among the longest and most expensive standard terms of the bank programmes on this site.
- – The agreement is drafted for the bank: Truist can require a reserve account on seven days' notice (immediately for suspected fraud), keep it for six months after termination, terminate for convenience on 30 days' notice, and pass through third-party fee increases without prior notice.
- – Next-day funding is restricted to Truist checking accounts and excludes some merchant solutions and industry types, so the headline benefit depends on moving your banking and on your category.
- – Reputation signals are hard to separate from the bank: complaint counts on the BBB and review sites cover Truist as a whole, and merchant-specific reviews are few; the 2022 platform consolidation and the ongoing Merchant Engage rollout mean legacy SunTrust and BB&T merchants have been through more than one migration.
Fees in detail
- Online rate: Not published. Truist resells the Authorize.net gateway for online, virtual-terminal, eCheck and recurring billing, and its site advertises
- International: Not published.
- Contract: 3 years, then 1-year auto-renewals
Standard published rate for a domestic online card payment. Confirm current pricing on Truist Merchant Services's pricing page.
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