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Merchant Account Fees

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When setting up a merchant account, it can be a very daunting experience if you are new to it. You will learn that the service is very fee oriented and may be confusing at times based on what everyone tells you. Due to the complexity of the pricing for credit card processing, there are many ways a merchant can be misinformed. With the information below and Gotmerchant.com on your side, you should have a very good understanding of what to ask for.

 
Retail Merchants (swiped transactions)
Retail Debit Rate 0.69%
Retail Credit Rate 1.69%
Mid-Qualified Rate 2.44%
Non-Qualified Rate 3.29%
Transaction Fee $0.20
Internet / Ecommerce / Mail Order Merchants (all keyed in transactions)
Internet Debit Rate 0.99%
Internet Credit Rate 2.19%
Mid-Qualified Rate 2.94%
Non-Qualified Rate 3.79%
Transaction Fee $0.25
Other Fees (applicable to all)
Address Verification Service (AVS) FREE
Batch Fee $0.25
Monthly Service Fee
(only listed to reiterate)
$10.00
Monthly Minimum $25.00
Annual Fee FREE
PCI Compliance Fee Varies - Call Us*
Contract Term & Cancellation Fee See Below**
 

* To our knowledge, every major processor charges some sort of fee for PCI Compliance. There are still numerous merchant applications that do not have any PCI fees listed even though they may be charging one. Our advice: Expect some sort of PCI fee or go with someone who already has a fee established. The reason is look at what happened several years back, PCI fees did not exist. Then all of a sudden most of the major processors started charging one. If a processor advertises no PCI fee, keep in mind that they could very well implement one tomorrow. Please call us for details on our PCI fee.

** There is significant cost involved in setting up and maintaining a merchant account. To help maintain a level of excellent service and support, our standard terms is for two years. However, we will also offer a month to month agreement with a 90 days notice. This offer will depend on certain factors such as your type of business. Please call us for details. Free POS System: If you are considering our free point of sale system, the term is for five years.



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