San Antonio, TX – Merchant Services compares its credit card merchant services to those of Wells Fargo, Chase and Bank of America.
After Merchant Services called the 1-800 listed on each of Chase, Wells Fargo, Bank of America Merchants Services and Square reader websites, they found a variety of differences and costs of each of the “Big Bank’s” credit card merchant services.
The compilation below:
• Base Retail Visa/MC rate of 1.99%
• Mid qualified rate of 2.68%
• Non qualified rate of 3.76%
• $100 fee to get setup
• $25 monthly minimum
• Monthly fee of $9.95
• Free terminal with a 2 year contract
Chase Paymentech, as you can see above, has high rates and fees everywhere you look.
Square Reader Swiper
• Base Retail Visa/MC rate of 2.75%
• Key Entered Rate of 3.5%
Square Reader merchant services has high rates, especially for those with higher ticket amounts over $50.
Bank of America
• Base Retail Visa/MC rate of 1.69%
• Mid qualified rate of 3.19%
• Non qualified rate of over 4.355
• Terminal cost on a lease of $28.95 per month or purchase for $599
Bank of America credit card processing does include a free terminal and has high rates.
• Base Retail Visa/MC rate @ 2.2% and 25 cents
• Mid qualified rate @ 3.1% and 25 cents
• Non qualified rate @ 4.35% and 25 cents
• 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 merchant services has high rates and fees all the way around.
Merchant Resources offers the following:
• Interchange plus pricing. This means you pay what the banks pay plus a small markup. Much lower than the rates above.
• We provide a free chip card terminal with no contract
• Next day funding
• Work with the 2nd largest merchant acquirer in the U.S.A
• One day approval
• Overnight shipping with free upgrades
• Twelve rolls of paper with a new account
• Accept Visa/MasterCard/Discover/American Express/Debit/EBT
• Offer POS system for restaurants
To receive a free no obligation merchant account quote, visit http://www.credit-card-processing.com or call 1-888-895-3129