Bank Associates Merchant Services - BAMS Review

Rates and Fees
Truth in Advertising
Consumer Reviews
Customer Support

Best for

Merchants in various industries, including e-commerce, restaurants and many types of retailers in need of payment processing services for multiple payment types.

Specializes in

Bank Associates Merchant Services specializes in Level 2 and Level 3 payment processing solutions through its own proprietary software. This company also offers chargeback defense and dispute assistance to help merchants keep their chargebacks as low as possible.

Pricing Summary

Setup Fee: N/A

Monthly Fee: N/A

Swipe Rate: Unknown

Keyed-in Rate: Unknown

Early Termination Fee : Unknown

Contract Terms:

Visit Bank Associates Merchant Services - BAMS

Bank Associates Merchant Services often shortens its name to BAMS, which is an acronym that is also used for Bank of America Merchant Services.

The company is located in Brooklyn, New York and its founder and CEO is Dimitri Akhrin. Benjamin Abel is BAMS’ director of sales.

BAMS was founded in 2006 as a premier payment processing solution for merchants all over the United States.

Bank Associates Merchant Services - BAMS Overview


Bank Associates Merchant Services has been around since 2006 when the company was founded by Dimitri Akhrin, who also serves as its CEO. The company’s headquarters is located in Brooklyn, New York.
This company takes a personal approach to payment processing services, and they claim to carefully decide to establish relationships with new merchants only if the fit is right for both sides. BAMS offers tailored payment processing services to businesses of all sizes, but the company specializes in Level 2 and Level 3 processing. The company offers POS systems and various virtual gateways in order to meet their merchant customers’ needs. The company is a registered ISO of Wells Fargo Bank, N.A., Concord, CA and of Merrick Bank, South Jordan, UT.

Quick Facts

Head Quarters

413 86th St Fl 2 Brooklyn, NY 11209-4707

Year Founded



Dimitri Akhrin



Merchant Provider Risk Tolerance

Low Risk Businesses

What We Like

What We Don't Like

Industries Served

  • Online Sellers

Business Types Served

  • Mobile
  • Online

Bank Associates Merchant Services - BAMS Products & Services


Hardware & Software

Bank Associates Merchant Services can provide merchants with their choice of hardware for payment processing. The company offers terminals and POS systems that are equipped to process EMV payments, as well as several other types of transactions.

BAMS also offers merchant service accounts that require payment gateways. The company website states that they offer easy integration with any virtual gateway, but they also have their own proprietary gateway.

Dispute Assistance Manager is a type of software that is designed to eliminate problems with dispute management and reduce chargebacks for merchants.

Value Added Services

Bank Associates Merchant Services can also assist merchants with obtaining business funding. They offer small business loans and business cash advances to qualifying merchants. Their website indicates that merchants only need to have been in business for three months as well as meet other specifications in order to receive as much as $500,000.

BAMS offers a gift card program and a loyalty card program, next-day funding and a competitive price guarantee as well.

Supported Payment Types & Services

Bank Associates Merchant Services can assist merchants in accepting many different payment types, including:

Payments with all four major credit cards
Checks and e-checks
ACH payments
MOTO payments
Debit cards
Mobile wallet payments, including Google Pay, Apple Pay and Samsung Pay

BAMS has a program called OptBlue, which offers lower rates for American Express payments and quicker payouts for merchants.

Bank Associates Merchant Services - BAMS Payment Processing

  • Cash Transactions
  • Credit Card Processing
  • Debit Card Processing
  • EMV Processing
  • Gift & Loyalty Program
  • Gift Card Management
  • Online Payments
  • Payment Gateway

Bank Associates Merchant Services - BAMS Billing & Invoicing

  • Mobile Payments
  • Online Payments
  • Payment Processing

Bank Associates Merchant Services - BAMS Advertising & Sales

Bank Associates Merchant Services appears to have its own inside sales team. There is a director of sales on staff, and the company website states that he has put together a sales team that focuses on selling efficiently, ethically and effectively. It does not appear that the company uses any manipulative or questionable marketing tactics or techniques on its website.

Truth in Marketing

Discloses All Important Terms


Public Pricing Available


Bank Associates Merchant Services - BAMS Pricing, Rates & Fees


BAMS most likely offers tiered pricing, which is common, but it can also be used to hide the cost of services. The prices and fees the company advertises are as follows:

Application fee - None
Setup fee - None
Qualified discount rate - as low as 0.70%
Key-in/online transaction rate - 1.99%
Transaction fee - as low as $0 per month
Statement and support fee - $5 per month

Bank Associates Merchant Services has a section on their website for price comparisons. It explains their process for helping merchants save money on their fees, but it is not clear about what their standard prices are.

Pricing at a Glance

Pricing Model

Tiered Pricing

Swiped Rate


Keyed-in Rate


Mobile Payment Rate


Virtual Terminal Rate


Monthly Fee


Payment Gateway Fee

Batch Fee

Early Termination Fee


PCI Compliance Fee

Equipment Lease Terms

Address Verification Service (AVS)

Application Fee

Account Setup Fee


Gateway Setup Fee

Annual Fee

Monthly Minimum

Statement Fee

$5 per month

Bank Associates Merchant Services - BAMS Contract & Terms

The BAMS website is not clear about whether the company requires merchants to enter into a contract with them when starting services. It is possible that equipment leases and contracts for payment processing are two different agreements.

Contract Length


Early Termination Fee


Bank Associates Merchant Services - BAMS Setup & Support


Bank Associates Merchant Services advertises quick setup for merchants who want to integrate with BAMS using their current POS systems. However, for merchants who also need hardware, setup can take a bit longer. Most merchants should find that they are ready to start accepting payments within a week or so.

BAMS offers several options for customer service, including two phone numbers and an email address for support, which are prominently listed on the company website.

Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)
  • Domestic Phone Support (After Hours)
  • Email Support

Bank Associates Merchant Services - BAMS Complaints, Ratings & Reviews

BBB Rating

Bank Associates Merchant Services is an accredited business with the Better Business Bureau. The BBB website gives the company an A+ rating, and customer reviews give it an average of 4.99 out of 5 stars.

Other Online Reviews

There are several other online reviews available for Bank Associates Merchant Services; most of which are positive. Google gives the company a 4.4/5-star rating and Yelp offers 5 stars for excellent customer service.



A+ and has been Accredited since 2012. (100 Reviews; 0 Complaints)


4.9 Stars / 221 Reviews


Rating 0.0 (89 Reviews)


4.5 Stars / 22 Reviews


Total Online Reviews


Total Online Complaints




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