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Citi Bank Merchant Services Review

Overview

Citi Bank Merchant Services is a division of Citigroup, which is the third largest bank holding company in the world. However, despite this robust institutional backing, Citi Bank Merchant Services is actually a reseller of First Data services, which severely limits their ability to compete for the best spots in the list of companies we reviewed.

Citi Bank Merchant Services Review

Pros

On one hand, Citibank merchant services, sometimes incorrectly confused with Citizens Bank Merchant Services, offers decent services. Their services sync with Quickbooks and works with various mobile OS’s like Android and Apple. They offer a number of different transaction types, including mobile, wireless, tips, EMV chips, and other high tech transaction methods. Citi merchant services also brokers hardware rental and sales for things like POS systems.

Cons

Citi merchant services suffer from the fact that they are functionally acting as an intermediary, reselling First Data’s merchant services. This is similar to other banks, like first citizen’s bank merchant services, but with an organization as large as Citigroup, it seems as if they should be able to provide these services directly. Additionally, because Citi isn’t actually providing the product, it can be hard to get pricing information. Moreover, Citi’s customer service leaves much wanting. Several customers complained that the number provided to them was incorrect, and others reported calling multiple times with no answer. The Citi Bank Merchant Service reviews also have a number of complaints with the way that the fee structure is organized, and it seems likely that working with First Data directly, or a smaller reseller, would result in better rates for merchants using their services, especially those looking for high risk merchant account services.

Verdict

We tried to find a way to justify using Citi Bank for merchant services, but it was hard. If you can get a deal with a business loan then it might be a good idea, but otherwise look for another First Data reseller or contact First Data directly.