11/12/2015 (PRESS RELEASE JET) -- Merchant Resources compares its credit card merchant services to those of Square Reader, Wells Fargo Merchant Services, Chase Merchant Services and Bank of America Merchant Services. The new emv credit card terminal is free with no statement fee, no yearly fee, no minimums with merchant services
After Merchant Resources called the 1-800 listed on each of these merchant services, a variety of differences and cost of each of these credit card merchant services have been discovered. The compilation below:
• Base Retail Visa/MC rate of 2.75% • Key Entered Rate of 3.5%
The square reader is a good solution if your average ticket is under $10. Otherwise, you are paying to much with square reader.
• Base Retail Visa/MC rate of 1.8% • Lease of terminal for $35 a month or purchase terminal for $500 • $75 yearly fee
Merchant Resources has been in the business for over 25 years, knowing “for a fact” that the rate, no matter what the card is, is NOT 1.8%. It seems Wells Fargo has to train their merchant services department on what the actual fees are.
Bank of America
• Base Retail Visa/MC rate of 1.69% • Rewards Cards Visa/MC rate of 3.19% • Business Cards Visa/MC rate of 4.35% and 29 cents • Foreign and Government Cards Visa/MC 4.35% and 29 cents • Cost of the terminal is %99 or a $28.95 per month • Three year contract
• Base Retail Visa/MC rate of 1.99% and 25 cents • Mid qualified rate of 2.68% and 25 cents • Non qualified rate of 3.76% and 25 cents • $100 fee to get setup • $25 monthly minimum • Monthly fee of $9.95 • Free terminal with a 2 year contract
Merchant Services offers the following:
• 1.25% for debit/credit card with no pin • 1.65% for base Visa and MasterCard, Discover
•Free Paper – 1 year
• FREE EMV Terminal with Pin Pad, Swiper for your cellular phone, or POS for restaurant.
Since our contract is month to month, the terminal or POS must be returned upon cancellation. EMV Terminal $495 retail value. POS – $1295 retail value
Merchant Resources, 25 years in business, offers custom quotes to fit your particular business.
To receive a free no obligation merchant account quote, visit http://www.credit-card-processing.com or call 1-888-895-3129