Compares Paypal, Wells Fargo, Costco, Square Reader and Bank of America Merchant Services

Credit card processing can be confusing. Merchant Services did a side-by-side comparison to accept credit cards. These include Wells Fargo merchant services, Square Reader merchant services, Intuit merchant services, Bank of America merchant services and Costco merchant services. Credit Card Terminal Machine costs differ for each company.

DALLAS, TX – Merchant Services,, compares its credit card merchant services to those of Costco Merchant Services, Intuit Quickbooks, Square Reader, Wells Fargo Merchant Services, and Bank of America Merchant Services. Merchant Services provides the new chip card reader free.

Merchant Resources called the 1-800 listed on each of the above credit card merchant services and discovered a variety of differences outlined below:


• $30 monthly fee
• 2.9% and 30 cents a transaction for volume of 0-$3000
• 2.5% and 30 cents a transaction for volume of $3001-$10,000
• 3.9% for non-qualified rates including international cards

With Paypal, the customer you are taking a credit card from needs to have a paypal account. Many customers are unwilling to setup a paypal account for one transaction. For this reason, paypal does not sell stand alone terminals. It can only be used online.

Intuit Quickbooks Payments

• Swiper rate @ 2.4% and 25 cents
• Non-swipe rate/reward cards @ 3.4% and 25 cents
• Software is $10 a month

Intuit quickbooks payments does not sell terminals. Intuit Quickbooks only sells swipers for the ipad or iphone. Their rates compare to the Square Reader. The rates are high and you also pay the 25 cents on top of the rate.


• Base Retail Visa/MC rate @ 1.38% and 19 cents
• Rewards Cards Visa/MC rate @ 1.99% and 19 cents
• Business Cards Visa/MC rate @ 2.65% and 29 cents
• Foreign and Government Cards Visa/MC 3.55% and 29 cents
• Terminal lease $30 a month for 2 years or $489 terminal purchase
• Need to be an executive Costco member, so you need to pay $110 a year
• No contract

Costco, the so called low-price leader, was not so low priced. You need to be an executive member and still pay $489 for the proprietory terminal. There rates are not that impressive.

Square Reader Swiper

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

The square reader is a good solution for merchants that are seasonal, since “SquareUp” does not have any monthly fees. Merchants consistently over $10 per sale in Visa/MasterCard volume per month, have better options at:

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 we called we were quoted different 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 Resources offers the following:

1.25% for debit/credit card with no pin
1.65% for base Visa and MasterCard, Discover
No minimums, statement or yearly fees
FREE Chip Card Terminal, cellular phone Swiper or POS for restaurant

If a business has a low average ticket, Merchant Resources can provide a transaction fee of 5 cents.

To receive a free no obligation merchant account quote, visit: or call 1-888-895-3129.

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