Well, I’ve finished out four weeks as an independent sales agent for AmeriBanc National Ltd. I’ve learned a lot. I’ve even gotten some emails from other people who are thinking about working for AmeriBanc. Barring anything really exciting this will probably be my last post about the job, though. I’m going to try to get this blog back on the main topics of finances, religion, and all things web. 
Here’s how it has played out thus far:
Week 1: 3 apps
Week 2: 1 app
Week 3: 2 apps
Week 4: 0 (yep, zero)
So, let’s see here. That’s 6 apps since I’ve started. To date I’ve been paid for 2. Why? Well, it seems when I was told that they have a 98% approval rate that I should have asked more about the turn around time on those approvals. But there’s always a catch, right? No biggie though.
Someone emailed me recently and asked about the down side. Well, it really depends on your background. I had never done a ‘one call close’ before and that is taking some getting used to. But for others it’s no biggie. If you’re interested in joining, feel free to drop me an email. I’ll answer whatever questions you have.
So, what are my plans? Within the next month or two I plan to try and go on AmeriBanc’s indirect program, assuming everything continues smoothly. What’s the deal with the indirect program? Well, it’s twice the commission plus residuals but I no longer have the call center setting appointments for me. If I had lived here longer and new the area better, I’d switch now. Thus far most of the appointments the call center has set haven’t exactly been ‘to die for’ or anything. But, since I’m new in town they are a great help in getting me in front of some decision makers.
Other than that, stay tuned in for some announcements of some new sites I’m bringing to market. For those of you with kids, you’re sure to love one in particular.
January 18th, 2007 at 12:58 pm
Did you ever get the others approved ?? Are you still with them ??
G
January 18th, 2007 at 11:48 pm
George, all my apps except one was approved. As for my employment, I am no longer with AmeriBanc National due to some personal issues that arose. I’ve considered going back but at this point my own company is picking up steam so I see no need for it. However, I must say that working for them was enjoyable and I highly recommend them to anyone who is experienced in (or willing to learn) ‘one call close’ sales.
May 29th, 2007 at 11:46 am
I also worked for Ameribanc. However they sat on my first 3 apps for two and a half weeks before telling me I needed to fix some problems with my paperwork. In the meantime one of them called me and told me to forget about it.
My biggest problem was that they kept sending me to appointments in very low income areas where 90% of business is done with cash or bartering. I am now 6 weeks into a new job and awaiting payment for the 2 apps that were approved.
I’ve done the one close calls before, but all of my appointments were pre-qualified. Ameribanc never seemed to qualify my appointments beyond whether or not they were breathing.
Needless to say I was not happy and would not recommend them to a friend.
May 29th, 2007 at 1:16 pm
Steve, I’m sorry to hear that you’re time with Ameribanc National didn’t go smoothly. As with any job there are definitely pros and cons. And a job like this doesn’t fit very many people.
As for the appointments they set, I had stated in my original post that the call center appointments are a help, but they’re not the greatest. But they tell everyone during the training, at least they did while I was there, that these appointments are just to get you out and in front of people. If you’re trying to make your living off just those appointments… well, let’s just say you better have a low standard of living or be one heck of a salesman.
I still value the time I was with Ameribanc National, the things I learned while working for them, and the people I’ve met because of the job. But, I wouldn’t go back to that line of work. It just doesn’t suit me.
August 17th, 2007 at 10:17 pm
I am thinking about going to work for ameribanc. is it really that bad? I sell insurance now and do really well. I wanted to try this because they set your appts but it sounds like the appts are terrible.
Diane
August 18th, 2007 at 8:19 am
The best way I can explain it is like this. If you like the company and can get excited about their products and services without considering the fact that they set appointments for you, then go for it. The appointments they set will then just be a bonus. But if the main reason you’re considering taking this job is because they will set appointments for you, then you will probably be disappointed.
When I was hired, the manager that did my training was even downplaying the appointments and told the class not to let their livelihood rest in the hands of a couple telemarketers. The appointments are there to get you out and about and in front of people. I actually made some great contacts in my area thanks to those appointments. But if you talk to other reps, they’ll all tell you that you are going to have to build your own business here. It will not be as easy as what the recruiter makes it sound.
January 28th, 2008 at 2:48 pm
they adverise free equipment but charge a $95 annual fee and the other rates and fees are not competative at all. Dont waste the gas and work for this company. They do not pay or follow up with sales agents
January 28th, 2008 at 3:38 pm
To my knowledge there was no annual fee when I worked for Ameribanc and the rates were extremely competitive (often within $10/month of the competition, usually $10 lower, but sometimes $10 higher).
Concerning the comments that they don’t pay or follow up with the sales reps, all I can attest to is my own experience, in which case I was paid on all my approved apps and spoke with someone at the home office several times a day.
February 9th, 2008 at 3:51 pm
anyone had good responses to the set appts?
February 13th, 2008 at 6:17 pm
I can’t believe some of this neg. stuff you guys are writing about Ameribanc. It’s as simple as this, some people are made for sales and some aren’t! I love my job with Ameribanc. The owners are really great guys and Ray and the other regional managers are awesome closers, thats right CLOSERS, If you follow the program and call in from every appointment you will SALE! Sure every appointment is not perfect, that’s why you get your mgr. on the horn and let him try to close the “duds” cause you might just get a deal done! If you fill out the app. right you WILL get PAID and get paid great. So I say to everyone who reads this, come jump on board! What other job gives you free money and gifts?
March 12th, 2008 at 1:02 am
I currently work for Ameribanc and was doing some research on the company this evening, just happened to google Ameribanc national and saw this post by chance. Im not sure of the thread starters background and Ill admit I am not an outside Closer, but I am an inside Closer and I DO speak with some knowledge of sales with this company. I personally prefer just not to drive alot, so on the inside Closer end, my duty is to contact the “fairly” new businesses myself, cold, and offer the same equipment, rates and fees that you were working with. Along with that, our duty is to handle the paperwork by fax and email, and to have them sign the paperwork whilst walking them through the application process over the phone, lastly we receive the paperwork in FULL completion and submit it to TMS that day. THAT my friend, is what you call a one call close…
In my eyes the company is in the latter part of their infancy phase, they have the right tools and idea, but they seem to need some fine tuning,in my opinion. Example…
the telereps that are setting the appointments for the most part seemed to be trained well for their purpose,but then again they are simply telemarketers/appointment setters that are mainly money-motivated by the sheer Volume of the appointments that they write, eg ” if you write 7 deals today you will earn 17 dollars an hour..today. This does not a closer make, that my friend is your job, to seal the deal after they have expressed an interest in either changing processors or starting fresh and have never processed before. Im not one for fixing things that are not broken, they obviously have a decent system or they wouldnt be in business, nor would I be getting paid this well, but, then again in my eyes I think it would be a benefit to train them in the lingo and at least partially about rates and fees and merchant needs, volume is good.. to a point.. i just feel that it wouldnt really be so bad if they focused on Quality leads a little more, a little prequal can go an extremely long way. The verifiers being educated in mapped geography would be beneficial that so the outside rep doesnt have a long trek throughout the day could help,setting up an efficient route would be great, knowing you arent going into a bad area would be a huge help just for credit denials alone, just simply adding a few well placed questions to the common script could pay off extremely well in the long run.
I have only been with Ameribanc for approx. 3 months, so honestly it is not my place to tell anyone how to run a company, all one can do is offer suggestions and hope the ideas catch the right persons eye, for the benefit of the whole. I cant say I know the owners personally as they seem quite busy throughout the day,they really do seem like really good guys, they DO look out for their employees.
The benefits and bonus plans alone are a reason to stick with this company for a loooong time in my eyes, as long as you are producing, but isnt that always the name of the game? I would love to just sit with one of the owners on common ground and pick their brain and throw ideas around to see what sticks. I know they are somewhat open- minded to ideas if you at least know what you are talking about, and you catch the right person at the right time.By my analysis there are a few KEY things that could increase MY departments productivity by 200% in the short term, but im just a noob compared to my team leaders and Manager, who am I to suggest anything? lol I’m just waiting to be promoted to Team Leader and get noticed first, my resume far surpasses my current position, when I earn some rank, then Ill put my suggestions out on the chopping block.
I would have to say to anyone looking to work here to give it a shot and fight the good fight,if you have good sales skills GO FOR IT! MAKE SOME SERIOUS MONEY! The regional managers have super mad uber skills and work with their guys really well, they bend over backwards to do what they can to share their abilities and knowledge with these outside reps. Almost everyone here ive met are really good ppl besides a few moot bad apples in my department,and im sure the upper upper managers will take care of them in due time, but that is again,just opinion.
Lastly i just have to say that most likely, a BIG reason that your sales arent getting approved so fast is that they arent entirely complete as far as signatures go, lack of information can hurt you when it comes to approvals, trust me. Credit can always be a factor, a handful of my deals that got submitted recently got ” kicked back” due to reallyreally credit or questionable identity therefore requiring a co-signer. Being an outside closer you may not have had the capabilities to acquire that knowledge from your manager for whatever reason, and if you did, do you have the ability to acquire that information from your prospect/merchant after leaving…would you go back to get that info or second signature?
March 18th, 2008 at 10:59 pm
Thanks for some of the info, I am considering this Co. What are some/if any are the perks. What is the gas allowance? Is their a weekly Per-Diem? Also is their a base + or 100% comm. & what is the percentage of comm. on each deal. Just trying to find out as much as possible before sitting thru another speech only to be disappointed about the lies told in the Career Add.
Indiana
March 19th, 2008 at 7:55 am
Gelbe, I can’t answer these questions off hand, since I’ve been away from AmeriBanc for over a year; and I’m sure much as changed.
Any readers out there currently working with AmeriBanc, feel free to chime in on this one.
March 21st, 2008 at 6:54 pm
I worked for Ameribanc for a couple of months and was not impressed with their less than candid approach with their hiring (total BS in ads, positions not even available) They get people in there and then promise lots of money. There is always a reason but it just isn’t forthcoming. Honesty just doesn’t seem to be something they value.
March 25th, 2008 at 11:05 pm
Jweiss I am considering joining Ameribanc as well. I found you through google. I’m not sure if It will work but am willing to try it out. I appreciate your unbiased opinion. Also you seem like a genuinely nice Christian person feel free to contact me via Email
April 5th, 2008 at 8:17 pm
I was researching AmeriBanc for my boyfriend and I am grateful that you at least provide a genuine picture. Thanks.
April 9th, 2008 at 8:02 am
I am considering getting in to sales in the payment processing company. I have checked out a lot of companies. Can anyone tell me about Ameribanc National LTD. Where are they located at? I like to check Better Business Bureau. I have gone thru training with several companies that provide leads and maybe 1 in 10 are decent leads. If you have confidence in yourself I think your better off doing cold calling.
April 15th, 2008 at 7:08 pm
I started with Ameribanc on July 23, 2007 as a direct sales rep. I converted to indirect on Oct 10, 2007. I have never made less than $4k per month with Ameribanc and currently I am at $8k with sales and residuals. I will reach $20k by years end. Ameribanc provides the opportunity and the path, but if you don’t have the skills or motivation, you will not succeed. I have always been self employed and I have been earning over $1 million per year since 1997. This is just one more stream of income for me. I can speak to the owners and managers at Ameribanc with just one phone call. They invite you to visit once per month and they pay for the hotel. Anyone that can’t make this opportunity succeed just does not need to be in this line of sales. That is not to criticize your ability, just don’t shoot the messenger if you don’t get the message.
April 18th, 2008 at 1:11 pm
I am a new sales rep with Ameribanc. I’m about to finish my second week with the company. My impression of the company so far is mixed. What I’ve found to be good so far is that the product, programs and prices seem sound. I’ve only been with them a very short time, but I’ve had no reason to suspect their product to be substandard and I don’t feel embarassed to sell their products. My merchants have really liked the free machine deal and the bounced check guarantee, but they haven’t been that impressed with the rates. There is an annual fee and an application fee, too.
I felt the training sessions and materials inadequate, but well-intentioned. The trainer was lively and I’m sure he wanted to do a good job. But now that I’m in the field I find that the information in training wasn’t organized enough to rely on it quickly. It’s web-based so you don’t get to really meet anyone. Just a picture of the trainer talking and the voices of other reps in your group. Looking back now, this format deprived the group of a local support base. I really wish I knew other reps in my area or some of the more experienced AmeriBan reps in other areas so I could go to them for moral support and sales advice. The training was one day only. My group was supposed to have a second day of training the following week, but it never happened. The training is informative, just not informative enough. For example, one thing they don’t tell you in the training is that if you don’t let a sales manager talk to every single merchant you present to, you get fired. Well, you’re an independent contractor so technically they don’t fire you. They terminate their relationship with you. Yeah, they break up with you!!
I have had some smooth and some not-so-smooth experiences with the sales managers. They are knowledgeable and can do things for the customer that the salespeople can’t do – special offers, etc. And its nice to have them as a source of information when you’re at an appointment and confronted with questions you can’t answer. The downside I’ve experienced is a lack of patience and support with new salespeople. There have been times when I’ve made newbie mistakes and been confronted with frustration and anger rather than explanation and correction. I have felt that the sales mgrs. have viewed some of my mistakes as intentional assaults on their sales method rather than just simple I-don’t-know-what-I’m-doing-because-I’ve-only-been-working-here-for-a-week mistakes. That’s really frustrating for me. I think they’re that way, though, because they’ve had experienced salespeople come to AmeriBanc wanting to do sales the way they’ve been trained rather than the AmeriBanc way. So maybe they’ve been burned. I don’t know. All I know is that my mistakes have not been met with much patience. The fact that there are no female mgrs doesn’t help much either. Some men don’t know how to motivate women in a selling environment and that could be an issue, too. Who knows? But I’m tough-skinned, so I’m sticking with the company for at least 30 more days to make sure I give them a fair shot.
The pay is decent. Some of the appointments aren’t the best quality, but that doesn’t bother me. To me, many leads can be turned into a sale with time – even if it means just getting a referral to another merchant who will buy. That happened to me in my first week – one of the leads was a dud, but it got me a sale from the merchant next door. That was pretty cool. I’ve made a practice of sending thank-you notes to the merchants I’ve met with and doing follow-up calls to the few sales I’ve made as a precursor to getting referrals. Hopefully that will help. Plus, I have gotten sales from the leads – so some of them are actually pretty good. You’re supposed to do a one-call close. It sounds like a good idea in theory, but I have found it difficult in practice. Maybe its the lagging economy or my inexperience, but most of the merchants I’ve been given aren’t ready-to-buy-today merchants, even with the sales manager on the phone. A few have been, but not most.
So, there are really only two major downsides to the job for me so far: the lack of patience for newbies that I’ve experienced, and the driving. I like to drive, but AmeriBanc has me driving 200-250 miles a day – that’s costly. For my car, that’s about $25/day in gas at $3.45 per gallon. I had a severe financial crisis recently that left me devastated. I’ve had to borrow money from family and donate blood plasma just to afford the $125/wk in gas. It’s been really hard for me and I worry each day about where I’ll get the gas money to run my appointments. I want to be out today running some appointments of my own, but I can’t because I’m trying to save what little gas I have for the preset appointments on Monday. That combined with the difficulty I’ve had with some of the sales managers have made this job somewhat stressful for me. And you don’t get paid until the second week after you start with AmeriBanc if you start on a Thursday. You only get paid for approvals within a calendar week, so even if you got a lot of sales your first couple days, you wouldn’t get paid on them until they’re approved – which is usually the following week (3-4 days), which means you don’t get paid for them until the week after that. So plan to go two weeks without pay from AmeriBanc, then they pay every week on Friday – which is nice.
I’ll post my continuing adventures with AmeriBanc if Mr. Weiss doesn’t mind. This is his webpage, after all, and I think it was supposed to have a different direction. It was this web page that made me decide to sign with AmeriBanc, so I come back here from time to time to read new posts. Maybe I’ll start my own blog so Mr. Weiss can have his web page back!! Thanks Mr. Weiss for letting me post here. Good luck to those of you joining AmeriBanc.
April 24th, 2008 at 1:23 pm
Hello all I am an appointment setter at Ameribanc. I have been there for appox. 1.25 months I have heard a few crazy lines from some of the other guys just trying to set a large amount of appointments. As appointment setters part of our comission is based on any sales and there has been a lot more attention on the part of the verifiers to ensure that product and service interst is there.
However what I have found is that for a large amount of the business owners I have contacted have a profit margin that it is not worth their time to focus on how much money they may or maynot save on processing.
I have really focused on setting appointments that I think will not be waste of time and I have found that I have been more successful with people who have just recently bought or started a business or one that is small.
However any information you guys may have that might help me increase quality and volume would be much appreciated the more appointments I can set that turns into a sale the better it is for us both.
By the way I was sent home early today because I didnot set one appointment by 12:00. Calling the western territories 1st thing in the morning makes contact quite difficult. I hate to make excuses or complain but this is the second time I have been under pressure to produce while being in in an area that is in an earlier time zone. Makes me wonder who I pissed off. Anyway like I said any tips from someone in the trenches would be veary appreciated. I am an injured plumber I have never done anything like this before so my experience is limited to the time I have worked for Ameribanc.
August 6th, 2008 at 11:31 am
If your looking for proper training from a processing company, then I have some lake property we need to talk about. I have work with 4 different companies part-time over the last couple of years and their all the same. P.S If your not selling Interchange Plus, then your not doing your clients that process over 40K per month any special favors. Don’t give up your day job.
Veteran
August 19th, 2008 at 9:44 am
Thanks for all of your post, I too am interested into looking into working with this company. I am currently doing outside sales with travel, and am thinking maybe I could do both. We shall see. Good luck to all. ML
August 29th, 2008 at 6:36 pm
8/29/2008 I wasted two months with Ameribanc. I had 20 sales and made $2000 less $700 in gas and wear on my car. All the negatives above are true, no sign on bonus, or other bonuses we were to receive, not even paid on some sales. Customer service was terrible, four of my customers canceled. Appointments were a joke; the merchants told the telemarketers they weren’t interested, some would not even talk to me. If you don’t close the deal your manager will talk to the merchant and harass them until the merchant throws you out.
September 6th, 2008 at 8:17 am
I am currently working for ameribanc, about 80 to 85% of the leads they give you are to merchants that have told the telemarketer that they are NOT AT ALL INTERESTED. The tm then lies to them and says he is in the area, just let him stop by, the end result? I have to drive 2 hrs to see this merchant (in the area?) who doesnt allow me give him a presentation. Then another 2 hrs back to where I was, for my next appt. Mondays schedule looks like this,
8:30am – Phone conference to review new
contracts
8:30am – Appointment an hour east from
my home
10:00am – Appt. 2.5 hrs west of the 1st
appt.( impossible)
11:30am – appt 2 hrs back to the east
(If I didnt have the phone conference, this would be the soonest I could get to the 2nd appt).
2:30pm – Appt. in same town as the 11;30
4:00pm – appt 1.5 hrs south of the 2:30
Then drive 1.5 hrs home.
So, thats 7.5 hrs of driving to appts that I cannot possibly keep, unless they plan on buying a jet, and, history tells me that of these 5 appts, 4 of them are going to tell me they told the tellemarketer that they had no interest in our product and they WOULD NOT change their processor, but the tm would not take no for an answer, or that they simply called, told the merchant that that they were from the ” credit card co.” and that I would stop by tomorrow, and hang up, not giving the merchant a chance to reply at all, and forcing me to drive 2 hrs to see a merchant who told me that because of the way the way the appt was set, he wouldnt let us process his cards if we did it for free.
These are my experiences so far, good luck
September 9th, 2008 at 5:00 pm
Hmmmm, Im going to favorite this page. I start my first day tommorow as an appointment setter. Hopefully I can help shine some light on some peoples concerns.
September 9th, 2008 at 9:40 pm
I hear you all I am currently a ameribanc sales rep and I do have some concerns mostly about theses appointments, driving all over my state is not the way to go . how do u set your own appoitments
September 14th, 2008 at 2:00 pm
I am also considering a position with Ameribanc and need to make the decision to travel to Cincinnati, Ohio, a six hour drive to listen to what I can already learn from everyone here, about investing in this trip if this is actually my best move. I need to be 100% certain of my next career choice soon, since I am currently on extended unemployment after working for a business, which was the biggest joke I have ever experienced in my entire career.
A big question I had about Ameribanc is did anyone actually receive a $5,000 sign-on bonus and when did you have it physically in your hand? At the end of a one-year commitment?
I am very comfortable with a “one call close”, love them! I am also aware that any successful B2B outside sales person is always propecting to find “new” business to close. I am ready to sink my teeth into a good company that values their employees/sales team. Anyone out there no of one in existence? Let me know, I would greatly appreciate a point in the right direction and it does not have to be selling bank processing terminals. I can sell anything to business owners, as long as it is a good quality product or intangible service.
Thank you in advance!!
Running out of time and tired of wasting my time at interviews that are not a good fit for any B2B sales person.
September 14th, 2008 at 10:19 pm
I apologize for the typo’s in my earlier message. I was embarassed when I read them.
I am burnt from so much time on applications, sending resumes, a house foreclosing, and the deprovation of unemployment.
I have not been on unemployment in over 20 years, until now. I have always supported my kids and husband, enjoy working, and providing. This has been an all-time low point in my life.
I appologize for the unprofessional correspondence.
Sincerely,
Jan
September 17th, 2008 at 3:16 pm
My short experiance:
Day two three appointments the first being 10 AM, 90 miles from start point. First thing the lady says is I told them Sunday I was not interested. In fact there is a for sale sign on the business. Second appointment only 30 miles away set for 2 PM an Bar-B-Q place in a strip center next door to a Oriental Buffet. I cold call the other businesses around all are using THE SAME EQUIPMENT given to them by their bank. Go to the appointment the Owner is gone for the day. Third appointment set for 4pm only 171 miles away. 4:30 pm received a call from a manager am I at the appointment? No it’s 171 miles away suddenly he has a call to take. In less than a week I learned that if the question is hard or pointed suddenly there is a call that they have to take. Also every call was in a depressed town and the appointment was with someone that is a phone call away from shutting the doors.
Their AD
This was a direct copy from the announcement.
The main problem I had with the company was the continued half of the story and the crazy appointment setting as if gas is free and I had use of a transporter. Also they assigned me to an appointment that I know was in another accounts area.
September 18th, 2008 at 12:13 pm
OK, I was contacted this morning about a job with Ameribanc. I talked to the manager and he said all this good stuff about this company. I decided to google it and found this blog. After reading the post, I think I have decided aganist joining this company. I have 2 small children depending on me and taking this job would mean a move for me. If I have to work on commission, it will not be worth all the trouble. Thank you for all the post that were before me…..
September 22nd, 2008 at 1:35 pm
Wow! I didn’t expect all of this drama when I simply googled “Ameribanc National” to get some info on the company before taking the next step. My concern is not with the preset appointments: those sounded too good to be true anyway. I can find my own appointments and not drive all over the state in the process. My concern is whether or not the company has a good reputation, a reliable product, and competetive rates. It seems that most companies have a cc processor in their business now, so are we trying to find those companies that DON’T have them or do we have a superior system that people will actually CHANGE OVER to our system? That’s the question. If I have a product I believe in, I can sell the heck out of it. Anyone have any thoughts on the product and services offered?
September 23rd, 2008 at 5:46 pm
I was contacted today and had my first interview with this company… like many others, I found this in a google search. I have my second interview tomorrow, and while I will still follow through with this, the information provided here has made it quite clear that there is no way I could accept any offer they were to make. Thank you all for your help!
September 25th, 2008 at 2:27 pm
WOW! I just read through all the comments here and am so overwhelmed. I have a phone meeting tomorrow with Ameribanc and now I’m not even sure I should answer. All morning I was so pumped about this new opportunity…now just deflated……thanks for all the insight. I’ll have to be more careful from now on : (
–disappointed
September 25th, 2008 at 6:44 pm
I have been an outside sales consultant for Ameribanc National for 8 weeks now. I dont know what all the complaining is about. There does seem to be a lot of driving involved at first, but give it time, they will get your area figured out. I drive 50% less daily now than I did when I started. And because I have been driving so much, Ameribanc increased my commissions by 25% on each deal to help compensate me for my fuel. They have faithfully set up 4 to 5 appointments for me every day, and on average i write-up about 6 deals a week. thats an income of about 900 dollars a week, plus i get about 2000 in bonuses at the end of each month. Ameribanc is a very good company, the regional managers are very helpful, i even talk to mine outside of work hours. He even paid for my ticket to Chicago to see the company first hand. And the sign on bonus is not a lie, I got mine. You just have to make deals in order to earn it. Outside sales is not for everyone, if it was easy, everyone would do it. I just hate hearing whining from people who are poor salespeople and expect to make a good living doing it. If you have sales experience, i strongly suggest giving this a try. Im glad i did.
October 6th, 2008 at 11:20 am
dragon362…can you email me.. I just accepted a position. My email is aeguru@gmail.com. Thanks.
October 12th, 2008 at 8:24 pm
I am trying to decide whether to accept an employment offer as an Inside Sales Person for Ameribanc or keep the current Inside Sales/Customer Service position I’ve had for the last month. I was unemployed prior to starting the job I have now. Perhaps working as an Inside Sales Rep would miss some of the downsides of the Outside Sales side of it (no base salary, lots of driving). If anyone is currently selling the processing service and Free Machines over the phone, I’d appreciate any insight you can provide. Thanks.
October 27th, 2008 at 9:00 am
If anyone is still reading this thread, I have been in this business for over three years. The Merchant Services business is a great one, but as always there are companies that take advantage of the uninformed and the under informed. This company sounds like one I started with and worked for for three days before I walked. I have been a salesman for over 24 years, I will not do a cold call or a one call close. I will not treat people disrespectfully and I will not stand for people being taken advantage of. I can offer lots of advice, but the best one piece I got was this: http://www.greensheet.com, it is a site devoted to Merchant Services Sales. Check it out. I think you will find you are being hosed working for this company.
November 3rd, 2008 at 9:41 am
As a business owner who has had expereince with this company, let me tell you that if you are a sales rep for them I feel sorry for you. I have tld their agents repeatedly I will not do business with them, because they have some of the rudest individuals working in their call center I have ever dealt with. I even answered one call to a telemarketer having a profane conversation with the guy next to him. Rude, rude, rude, and completely unprofessional. I have instructed them to stop calling me, yet they continue to do so about twice a week. I have even considered filing a complaint. This company strikes me as being very poorly run, and I wouldn’t be surprised if they are out of business soon.
November 24th, 2008 at 12:55 pm
Thank you all for the heads up! I was contacted today for a position with Ameribanc and started to do my research and found this page. WOW!!!When your unemployed you start to get excited @ everything that comes along. I have been a salesman for over 20 years and have come across companies that promise the world and don’t deliver. Thanks you for saving me the time!
December 9th, 2008 at 11:36 am
Thanks to this Blog and those who have posted here, I have made my decision as to working for or with Americbanc National. This has been an EYE OPENING experience for me.
I appreciate the candid comments that you all have made regarding this company. Admittedly some sound like “sour grapes” comments, but others, especially those from those who actually have worked for them, sound genuine.
Needless to say, I have had an education. I am supposed to call in for a second interview today (12/09) at 1:30 p.m. EDT and I probably will out of respect, but I doubt very seriously if I will be taking any chances with this company.
My time is valuable. My budget is minimal at the moment, and GAS, even at 1.70 / gal is still too expensive to be driving all over creation chasing rabbits and dealing with “prospects” that are already mad because of the rude way they were handled by the appointment setter who “wouldn’t take NO for an answer”.
December 11th, 2008 at 3:54 pm
Listen, processing companies are generally the same all around and I’ve worked for a couple as well as Ameribanc. If you’re young and think you’re good in sales, try it out because you may have found your nitch. If you’ve got kids to feed, no 100% commission sales job is a logical solution.
January 9th, 2009 at 3:05 pm
I am amazed here. Not sure if any of you are still watching this blog or not. Very interesting read. I will say that most of your concerns here are right on the money. In fact, all of you are right here.
We would have responded to this before however, we just happened to run across this today.
I had been a rep for these guys for a long time prior to going out on my own. It is an intersting world out here, with trying book appointments, making the cold calls, making sure all of your “i’s” are dotted and your “t’s” crossed, proper rate structures, going up against the compitition that do nothing more than low ball rates and mis-lead the merchants.
Until you are in the ownership seat, you must understand that this is a very tough business. Nothing comes easy. Most of you are right, you have to create your own sales and or leads if you truly want to get ahead. Waiting for an appointment setter to structure your day, well you will fail at the goals that you have set for yourself.
We created a whole new concept in this industry since leaving ABN. Loved the company, had great relationships even through to this day. Once again, ABN is in the business to create processing. This puts ABN and all companies, with this type of platform in the same catorgory. We are not.
Our rep’s have found closing ratios of 60% and higher. We bring a tremendous amount of value to our merchants. This gives our rep’s the amount of sales and referrals that any average or above sales rep would expect, regardless of the product or service.
If, you are still looking for this type of product line to sell to your merchants, that no one in this intire country will do for the merchant, then respond back to bulldog601@dwx.com and we will be happy to expalin and prove that there is a better “mouse trap” out here that is second to none.
January 26th, 2009 at 12:44 pm
I have been with the company going on three yrs now in outside sales…I love the work point blank.I have signed over 4 thousand merchants on and still counting.I have made a very good living doing this.To keep it simple ,with hard work and determination you can make it what you want it to be…=)
January 26th, 2009 at 8:38 pm
Bryan,
Nice to hear from you…this is Tim from KY…
I agree with you, as long as you put in the work and figure out how to talk to people, you’ll do well. As long as you give them merchants they can work with, they will approve them and pay you nicely.
January 29th, 2009 at 9:18 am
Mr. Bryan S.
I read your responce and callulated that you are averaging over 100 merchants per month. The average ABN rep will sign 20-25 merchants per month.
What has been your secret and why are you not out there on your own collecting the residuals? From when I was there, only one person ever broke 100 and they found out he was lying to merchants and got caught…
Please expalin..
January 30th, 2009 at 7:52 am
Bulldog, you may want to check your math. 4000 over 4 years puts his average in the low 80s per month, or the low 20s per week.
February 25th, 2009 at 10:17 am
Mr. Weiss..
You may want to re-read what Bryan said…
“I have been with the company going on three yrs now in outside sales…I love the work point blank.I have signed over 4 thousand merchants on and still counting.”
Who needs to check their math??
February 25th, 2009 at 12:57 pm
Ha, too funny. Looks like I need to clean my glasses, doesn’t it.
Ahh well, that’s the kind of day I’ve been having.
February 25th, 2009 at 5:32 pm
No worries, got your e-mail and will respond in the AM….Thanks,,
April 12th, 2009 at 7:55 pm
I was admittedly green in this business and Ameribanc took absolute advantage of me.
They paid me only $100.00 per sale. They never offered me any of the residuals.
They took my gas bonus off me after 8 weeks.
I never got the $5000.00 bonus because they told me that was no longer offered.
When I was going to leave they decided to offer my me residuals, but at that point I decided to make more money and go direct. And not share a pittance of residuals. But rather make all that was owed to me.
I work for two businesses now. Each offers something different that does actually produce income for the merchants besides the usual gift cards or processing.
I would never work for this company again.
They really mistreated my trust i had in them.
April 12th, 2009 at 7:59 pm
Oh and this comment….
“I have been with the company going on three yrs now in outside sales…I love the work point blank.I have signed over 4 thousand merchants on and still counting.”
This is one of the most irritating aspects about Ameribanc.
I was promised that when i could return they would go with me.
Inside sales went in after me, telling the merchant that they were doing this for me.
And one guy who waited for me showed me the inside sales guys app copy.
He absolutely refused to do business with him and told me this company was cutting me in the back.
Another sore spot about Ameribanc.
I am quite successful in returning to the company for whatever reason [busy season - will be reopening] etc.
They went in under me.
That’s just wrong.
So beware of them.
April 25th, 2009 at 11:11 am
I have been with AmeriBanc for 4 weeks now. I agree with the issues with appointment setting. They are sending me to areas that can not afford an extra expense, yet if they already take cards we are able to save them money.
I have taken the time to learn how to read the other statements and be able to compare it to Ameribancs charges.
my manager has been very flexible with allowing me to decrease areas to get the sale. However I have also had a lot of disappointments. I am currently trying to work on them.
I am not getting enough referrals. I have started doing some no my own and am doing better with those.
The setters do not pay attention to the zip codes and u do not get all of your appointments at one time. all u get is where teh first one is and the address. teh others are time and zip code only. they are very bad about setting appointments from one end of the area to the other instead of concentrating on one area at a time.
I have not made much money yet but want to get my training behind me then I can go out of my own.
they do send u to appoitments quite often when teh customer said they do not have time or are not interested. that is one of my largest issues… and the appt setters tell the customer things that are not correct. that makes me look bad
this is the first time i have tried outside sales and in some ways it has been quite an experience.
they do not pay milage which i think is unfair, thankfully if u keep good track it is tax deductable. my area is small enough that my milage is not to bad.
my manager is ready adn willing to help me at any time, it is just sometimes it is hard to get through tohim and i end up with one of the others adn they do not work with me as well and one did cost me a sale.
it is like any job…. u learn first then u see if it is for u. i am still deciding that…
April 29th, 2009 at 7:56 pm
the problem with the internet(and this site) is it tends to be a place for malcontents to gather. If you are experienced in outside sales, you can make a LOT of money. AmeriBanc never tells anyone the appts are pre-sold – so what’s the big surprise? When I talked to one of the owners, he specifically told me that this is a tough job and not for everyone. The “bulldog” guy is a rep that was very successful for AmeriBanc and now is trying to recruit you too – how bad could it be? I happen to know that the average % of appts closed is between 25% and 30% of ALL appts set – that’s more than TWICE the industry average. These guys aren’t hiding anything, they tell you success is hard work – just like your parents did. If you’re good at sales, you’ll like this, if you’re great, you’ll love it. If you’re below average, this is not for you. Since you don’t have to pay for anything to work for them, the only thing you’re betting on is yourself. If you’re looking for a sure thing – you shouldn’t even be in sales.
April 30th, 2009 at 10:56 am
With all due respect, the ‘problem’ that you refer to has nothing to do with the medium. Whether it be Internet, newspapers, or just word of mouth, people are more likely to speak out if they have a bad experience than if they have a good one. We all know bad news travels faster than good, it’s human nature. Don’t blame it on the Internet or my site.
May 4th, 2009 at 3:59 pm
OK folks, Mr. Weiss has said my comments were too assumptive, accusatory or attacked him or others. My frustration with this blog is that it accuses AmeriBanc of many bad things, unprofessional things that simply are not true. i.e. appts are a joke, they lied to merchants, all appts are in depressed areas, their customer service is horrible, they don’t pay or revoke bonuses, they get you thrown out of appts, etc, etc.
One of my favorite quotes is that “for evil (read: bad, unfair, unjust, wrong etc) to prevail, all that has to happen is for good men/women to stand by and do nothing”
I see a lot of distortion on this blog, I see competitors recruiting here, I see accusations of deception and bad faith here. I see accusations that AmeriBanc doesn’t pay their employees/reps what they are due. I see assumptions that the owners of AmeriBanc are not honest. I see good candidates saying that after they read this stuff they would never consider working for AmeriBanc.
So, Mr. Weis, am I not reading your blog accurately?
And yes, it is your blog. This entire thread is 100% your responsibility, you post it, you maintain it, you decide what gets on and what does not.
I have worked for AmeriBanc for years and this is just one of those difficult areas to address. There are people who like to stir the pot and express a negative outlook on stuff. The media has a habit of delving into sensationalism without necessarily trying to find the truth. I’m not sure what the point of this blog is, I just wanted to respond to the inequity I see here and the sad fact that this is a great industry, AmeriBanc is a great company and we have some great reps and employees that really care.
~ I wish you all the best of luck and hope that you see through ALL untruths, not just the ones that AmeriBanc is accused of.
MerchWizard, over and out.
May 4th, 2009 at 4:16 pm
OH, and by the way, AmeriBanc has a new website, http://www.ameribancwealth.com ~ check it out.
May 5th, 2009 at 2:33 pm
MerchWizard, you act as though I was unwilling to approve your other comments. As I said in my email to you, I’m perfectly willing to publish them if you’d like. I just didn’t want to because I like AmeriBanc and, with the way those comments were written, I felt they would just make you and the company look bad. That’s why I emailed and asked if you wanted to just leave a new comment sharing your experiences with AmeriBanc.
But, judging from your comments, you’re still not understanding what I’ve tried to make clear. Everyone here has spoken of THEIR experience. Throughout your comments and emails, you have repeatedly claimed that all these people are lying. How can you say whether someone else’s appointments were any good or not, were you there? How can you say whether or not someone was paid properly, are you privy to the company’s payroll records? The fact is, you don’t know. But rather than just share your good experiences, like I suggested in my email to you, you would still rather accuse complete strangers lying. It would be different if you were the person’s manager and wanted to share your side of the story. Or if you were one of the call center operators and wanted to speak on the rules that you have to follow. But, based on your comments and emails, you appear to be a happy, successful, outside sales contractor for AmeriBanc who, unless I’m missing something, does not have omnipotent powers nor the ability to read minds. As such, I’m sure you have loads of stories to share about how great AmeriBanc is. But I’m also equally sure that you can’t possibly know if the guy who said he was given appointments 171 miles from each other was lying.
You said “I see good candidates saying that after they read this stuff they would never consider working for AmeriBanc.” How, exactly, do you know they were good candidates? Is this more of your psychic abilities kicking in, that by just reading an anonymous comment you can tell their qualifications?
I believe that AmeriBanc, as a company, is strong enough that it can deal with criticism. I don’t think they need you to play ‘big brother’ and run out and beat up anyone who shares a negative experience they with them. The fact is, nobody and no business is perfect. It seems perfectly reasonable to me that the call center has had a few bad apples over the years that set appointments that were a waste of time. And it’s no stretch of the imagination to think that something didn’t go the way someone believed it should have and it left them feeling like they were screwed over; because when money is involved, it doesn’t take much to make people feel that way. And just because that wasn’t my experience with them doesn’t cause me to automatically assume these people are lying. I’ve met the owners and I think the company has a lot of potential. That said, they have areas where they could improve (who doesn’t). And like I’ve said in my posts and in my comments, AmeriBanc is a great opportunity if you know (or are willing to learn) ‘one call close’ type selling.
And, for the umpteenth time, I invite everyone who has worked or does work with AmeriBanc National LTD to write up a short comment sharing their experiences with the company.
MerchWizard, I do want to thank you for the link to the new site, good information there. I particularly liked how they focused on explaining the issues rather than just accusing folks of lying.
And, just for the record: Chris and Dan, if you guys have an issue with my site, you’re more than welcome to contact me. My email address is the same as it was when I worked with you. Heck, I’ve completed the contact form on your site a couple times over the last year and still haven’t gotten a reply.
May 7th, 2009 at 5:57 pm
I suppose this means that I am “IT”. I thought I mentioned that I don’t have to use “psychic powers” because I do, in fact, work for AmeriBanc. I do work for their Inside Management Team and have for years. I don’t believe I have accused someone of lying specifically as I don’t intend to be personal. My complaint is more something I lay at your feet for building a site that supports such a negative bias. Some of the accusations you are hosting are fairly caustic and, if true, are very condemning of the company. I get to interact with reps, payroll, bonuses and appts on a daily basis and I wouldn’t work for a company that actually did commit the injustices that this blog site accuses them of. Life’s too short to do that, but the real truth doesn’t get represented on this site and it’s just too bad. I don’t know if there’s anything that can be done about it, but I hope my posts cause folks to think twice about not looking more closely.
I did work in the field for years, I have worked for other processors and I’ve even worked for myself before so I think my perspective should carry some weight (imho
The company is really good, but it’s only as good as the efforts and ability of the person working there. I can’t tell you how many times we hire someone only to find out that they haven’t quit their other job, they don’t want to work full-time or they don’t really have the commitment to outside sales they claimed to.
I double-promise to sign out for good this time, I think I’ve made all the comments that could be helpful – I just wanted to clear up why I called myself “Insider” since you appear to think I was “just” an outside sales rep and dismissed the accuracy of my statements – which is a little ironic.
By the way – what are you doing these days? besides blogging of course…
May 7th, 2009 at 7:47 pm
Yep, you’re ‘IT’, and I’m staying on base this time so you can’t tag me again.
As for your position in the company, you’re right. I did assume you were in outside sales. Nothing in any of your comments or emails said what you did other than you worked for AmeriBanc. So, I assumed outside sales. And, we all know what they say about assuming… my bad. Sorry.
And no, you never explicitly said anyone was lying. But, if one guy says “it’s up” and you show up later saying “it’s down, it’s always been down, it would never be up” then you’re pretty much saying the first guy was lying. At least that’s the way I see it, but I’ve been wrong before… like when talking about your job title.
But on the topic of my blog, I think we’re reached a point where we’re just going to have to agree to disagree. You said
I disagree with that statement for a couple of reasons. One of which is that your still judging my entire blog based on one post, or the comments left on that post. I have over 150 posts on this blog dating back over six years. Only 6 posts even mention AmeriBanc!
My other reason is that you still sound like I’m going out and recruiting people to come leave negative comments. To me (and this is just my perception), it seems that you only want me to let people leave comments that show AmeriBanc in a good light. And that’s not going to happen. I would love to see more positive comments, myself. Heck, when I first started getting all these comments I used to email my former manager and give them heads up on things. But, most of the people who find this page are either thinking about joining AmeriBanc or just left AmeriBanc. So I get questions from newbs and rants from ex’s. If you want to tell a few friends to come leave some positive comments, I’m totally cool with it. Heck, if you scroll up to comment 13 you’ll see where I was asking for someone to help field questions.
In closing, these days I’m staying busy building custom web apps for a few clients. I tried to get AmeriBanc to let me build a lead generation site back in ‘06 and they told me no. I sent a couple questions using the contact form on their site a couple months back that, among other things, asked if if they were ready for that lead gen site yet. But, no one responded. I’m beginning to think I was blackballed.
Hey, you think you can get them to update that paragraph they have on me on that new site? If they could replace that ‘15 – 20 days’ with something more accurate, like ‘5 – 6 weeks’ I’d really appreciate it.
May 8th, 2009 at 1:15 pm
Here’s my observations on Ameribanc, as a new rep.
The appointments are marginal at best. Most people you are sent to see are uninterested, and only agreed to be seen because of high pressure tactics by the phone setter. That said, it gets you in front of people, and better prepares you for the cold-calling you will ultimately have to do, in order to be successful. Personally, I think Ameribanc would be better off trying to set their reps smaller numbers of better qualified appointments, but they tend to play the “numbers game” that most companies in outside sales do.
One of the biggest difficulties, is trying to portray yourself as a trusted rep, in a business where people are bombarded with these types of offers. Most people are very skeptical of who you are, if your company is legitimate, and if you can live up to the promises you make. It’s a tough industry to pull off a one call close. I’ve never been a high pressure closer, but it’s apparent, that unless you are, your income potential will be limited.
May 12th, 2009 at 1:55 am
After being with AmeriBanc for 6 weeks I can tell you my expierence. The managers for the most part are wonderful. They answer my questions and have been very patient with me. I have not made a lot of money yet but I still have hopes.
I think it is sad that this only outlines the bad expierences. You must remember that any job has its downside but also it has a plus side.
I have had instances just as others with the appointment setters. Including days without any appoinments at all and no explanation. I am waiting to find out why.
I am now comfortable enough that I am now going out on my own and setting appointments. Those of you who say you are being sent to the lower income area that has been true of me and that is where most of my sales have been.
People assume they do not have the income for the service, my expierence is they are excited that someone cares enough to give them an opportunty or relieve them of the high prices others are charging them
It is all in attitude and willingness to work through the issues as with any job and be a part of the improvement instead of the negativeness.
This is my first time to do outside sales and it has been a very large learning expierence for me, but I have tried to keep my attitude positive. If you are unhappy,talk it out with your manager to see what has to happen to make it worth while or get another job.
Keep Smiling and let the client think all is perfect…. they will sign….
May 16th, 2009 at 12:59 pm
How do the residuals work? What %?
Would be interested to learn when this is paid.
May 18th, 2009 at 9:23 am
Ed, it’s my understanding that things have changed since I left the company so I’m not sure how things work now. Maybe someone who’s still working for AmeriBanc could help with this one. Anyone? Bueller?
October 20th, 2009 at 2:04 pm
I worked at Ameribanc and this is what I have to say about this company. All companies has pros and cons. It depends on what are you looking for from a company. Sure I can say some negative stuff about Ameribanc. If anyone can tell me of a job that didn’t piss you off from time to time. I have a bridge to sell you. I made damn good money with Ameribanc. Sure they can improve in a couple of areas but over all I was happy.
If you are a true closer then they try to make the closing process a little easier for you. I still do some busy with those guys. I say go for it.
November 11th, 2009 at 10:25 am
I was with Ameribanc for about 3 months a couple of years ago. I found them to be good app setters although the apps were solid at first, gradually they became drive all over the place and back to where you started. Putting over 100 miles a day on my car was not cool. At the time, there was no residuals, no car allowance, etc… They did have a 30 day program, sell over 25 deals and receive X amount as a bonus. I did sell 37 deals my first month and did receive the bonus. Again, that was 2 1/2 years ago. I have since gone direct and also got another job with a software company. I have found going direct allows me to sell clients as things come up and has been great side money. I make about $900 a month in residuals now, which nearly makes my house payment. The one thing Ameribanc did not teach me was much of hte inside industry info – what the real rates are. Other than that, I was successful at Ameribanc, I just picked up a W2 job and couldnt run the apps they wanted me to and work the other job. I would say anyone new to Ameribanc, it is not easy, but you should try to learn ALL you can and get direct as quick as you can. Keep a track of your clients you sell with Ameribanc and go back for referrals from those clients. Lastly, I have a friend that was in the training class with me at Ameribanc – he went direct 2 weeks after me, had a baby on the way and no W2 job. Basically, he had to make it work. He now has over 250 clients and earns well over $6000 per month in residuals. Without Ameribanc, neither of us would be in the industry and we are both grateful we are in the industry.