Costco Compares Square Reader, Chase: Credit Card Processing Terminal and Machine, Rates Compared

Evalon Costco, Credit Card Processing: Square Reader, Chase, Terminal and Machine, Rates Compared
Merchant Resources, compares its credit card merchant services to those of Square Reader, Wells Fargo Merchant Services, and Bank of America Merchant Services.
Merchant Resources called the 1-800 listed on each of the credit card merchant services and discovered a variety of differences outlined below:

Square Reader

  • Base Retail Visa/MC rate of 2.75%
  • Key Entered Rate of 3.5%

Wells Fargo

Base Retail Visa/MC rate @ 2.2% and 25 cents
  • Mid qualified rate @ 3.1% and 25 cents
  • The salesperson did not disclose the non-qualified rate
  • Lease of terminal for $35 for 48 months or purchase terminal for $699 (FD130 terminal)
  • $75 yearly fee
  • $95 Setup fee
  • No contract until filing-out personal information using a social security number, etc.
  • Wells Fargo credit card processing was high in fees, equipment cost and processing rates.
  • Each time Merchant Resources called received different quoted rates.

Bank of America

  • 1.69% Base Retail Visa/MC rate
  • 3.19% Mid-qualified rate
  • Over 4.35% Non-qualified rate
  • Terminal cost on a lease of $28.95 per month or purchase for $599
  • No contract until filing-out personal information using social security number, etc.
  • Bank of America was transparent regarding their high discount rates.

Merchant Resourcesoffers the following: 

  • 1.65% for base Visa and MasterCard, Discover
  • No Monthly Fees
  • FREE Terminal, cellular phone Swiper or POS for restaurant
  • If a business has a low average ticket, Merchant Resources provides 5 cents transaction fee

For more information, visit:

Media Contact
Company Name: Merchant Resources
Contact Person: Jim Johnston
Email: Send Email
Phone: 1-888-895-3129
Country: United States