td bank merchant solutions

TD Bank Merchant Solutions Review

TD Bank is one of the ten largest banks in the U.S., and TD Bank Merchant Solutions is the merchant service provider division of the bank. TD Bank Merchant Solutions are a full-fledged merchant service provider that offers merchant accounts, retail processing, mobile payments, and e-commerce solutions. They are one of the most reputed merchant service providers in the market. This TD Bank Merchant Solutions review will analyze their offerings, pros and cons.

TD Bank Merchant Solutions provides payment processing services to businesses in numerous industry sectors. Retail and online businesses are the most common customers of the provider. There is evidence to prove that TD is a reseller of FirstData’s (Fiserv) payment processing services and payment gateway. TD uses the Payeezy payment gateway to provide online payment solutions to merchants. Along with their payment gateway and processing services, they also endorse the hardware offered by Fiserv. Fiserv’s line of hardware is based on Clover POS systems and the FD150. Keep reading this review for more details about their pricing, offerings, and contract.

Contract Terms and Pricing

There is little to no information available on the internet about the exact payment terms and pricing of TD Bank Merchant Solutions, but considering they resell the services of FirstData, it can be speculated that most of the terms are the same. It is confirmed that they have a standard contract length of 3 years, with an automatic renewal clause for one year if merchants fail to give advance cancellation notice.

There are two levels of the pricing structure offered by the provider – you can see a review below:

Low Volume Merchants

This tier consists of merchants that process an annual volume of transactions up to $50,000. Merchants in this tier pay 2.69% plus $0.19 for swiped transactions and $3.69 plus $0.19 for keyed-in transactions.

Moderate-High Volume Merchants

For merchants whose annual transaction volume exceeds the limit of $50,000, they receive a discounted rate. Instead of 2.69% and 3.69%, the fees for swiped and keyed-in transactions are 2.29% plus $0.19 and 3.29% plus $0.19, respectively.

If merchants decide to cancel the contract prematurely, they are subject to a $495 early termination fee. The standard contract terms include a tiered pricing model and a $19.95 PCI compliance fee. While the agreement may try to impose a tiered pricing structure, merchants can also opt for interchange-plus pricing. Merchants should try to utilize interchange-plus pricing whenever they get a chance as it is the most transparent pricing method and saves money for businesses in the long run.

Products and Services 

Now this TD Bank Merchant Services review will analyze the hardware and software offerings of the provider. 


As mentioned above, the provider offers a line of Clover hardware for in-store, countertop, or mobile transactions. Merchants can opt for the Clover Station for a full-fledged in-store countertop terminal. It comes complete with EMV, magstripe, and NFC support and can handle all in-store transactions. It also comes with the Clover app store, allowing merchants to customize and add applications to suit their business models better.

For mobile payment solutions, the company offers the Clover Go card reader. Merchants can get it in several variants based on what suits them. There are headphone jack-based models with varying support for EMV, magstripe, or NFC payments, or you can get a Bluetooth version if your phone does not have a headphone jack. 


The Payeezy payment gateway is the go-to software of FirstData to process online transactions, allowing merchants to accept payments through various methods including cards, eChecks, ACH, phone, or mail orders. Payeezy integrates with more than 70 online shopping cart services and is easy to integrate with a merchant’s website. It is a very secure online gateway with support for several currencies worldwide.

Value-Added Services

TD Bank Merchant Solutions would be the immediate provider of the services and products. Even though the processing will happen indirectly, it is up to TD Merchant Services to provide value-added service and customer support. 

As TD Bank itself offers TD Merchant services, their clients get full access to the products and services of TD bank too. Merchants are offered the TD Premier Business Checking account to merchants and waive the monthly payment processing fees if the merchants take this offer.

TD also has a cashback program for merchants. They offer a 1% cashback to merchants with no threshold of transaction required, and can amount to a total of $300. Merchants who process $200,000 or more during their first six months with the bank can get an additional $200 bonus.

Drawbacks of TD Merchant Services

While most of the complaints found in client reviews are a result of misunderstandings between TD Bank and TD Merchant solutions, there are some serious customer grievances. Below are reviews of the common issues people have with the provider:

TD Bank Account

TD Merchant Solutions have a reputation for rejecting merchants and businesses that do not bank with Toronto Dominion. This means that companies might have to change their entire banking system and shift to TD Bank to take advantage of their services. 

Bad customer service

A client review claims that they were not receiving their monthly statements and the provider would not admit to their mistake. Each time the client was promised that the customer service would look into the matter, they later forgot about it. There are several complaints of clients unhappy with their customer service.

Unfair Conflict Handling

Conflict resolution seems to be inclined in favor of the customers. A merchant claims they faced a chargeback of $600 despite providing all the proof necessary to establish delivery of goods. Later, the customer service representatives had a less-than-caring attitude towards the matter, and the statements of the representatives did not match up either.

Final Thoughts

This TD Bank Merchant Solutions review went in-depth about the problems and upsides of the provider. While the provider has a spotless record with BBB, several complaints can be found on other review websites.

They have robust and attractive services and features, mainly if you apply for banking with TD Bank. Otherwise they may not have the most competitive pricing otherwise. If merchants are not ready to switch to TD Bank for their banking and credit card processing needs, then TD Merchant Solutions may not work out for them.

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