Would these be considered good rates for merchant services?
Posted on September 14th, 2009 by admin
Rate 1… 1.49% Debit card swipe (no pin number entered) +.20 per Item
Rate 2… 1.99% Credit Card Swipe +.20 per Item
Rate 3… 2.59% Credit and Debit card manually keyed in +.20 per Item
Rate 4… 3.24% Corporate Cards +.20 per Item
$0.20 Per batch
$0.70-$0.96 no percentage rate for debit cards with a pin number entered.
Other fees that may apply:
$ 19.95 Monthly fee (waived if you process $5000 a month or 100 transactions a month or own
your own equipment)
$0.15 T&E authorization fee (American Express)
The rates you listed above are competitive and can be considered a good deal. The only real concern I would have is that $19.95 monthly fee which is about $10 too high. But it does sound like they are including the cost of leasing a terminal in there so if you do own your own equipment it becomes reasonable again. I do recommend purchasing your own equipment as it will be the most cost effective way to go about acquiring equipment. eBay auctions usually offer the best pricing by a mile. Just make sure they don’t require a merchant account to get their special pricing (not very common anymore).
September 14th, 2009 at 8:18 am
The rates you listed above are competitive and can be considered a good deal. The only real concern I would have is that $19.95 monthly fee which is about $10 too high. But it does sound like they are including the cost of leasing a terminal in there so if you do own your own equipment it becomes reasonable again. I do recommend purchasing your own equipment as it will be the most cost effective way to go about acquiring equipment. eBay auctions usually offer the best pricing by a mile. Just make sure they don’t require a merchant account to get their special pricing (not very common anymore).
References :
I run a merchant account website
http://www.merchant-account-services.org/
I wrote a Merchant Accounts 101 article
http://www.merchant-account-services.org/article/merchant-accounts-101