Merchant Account Fees

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.

Service Fee	Industry Avg	Gotmerchant.com
Qualified Rate	1.89% (retail) 2.35% (non-retail)	1.69% (retail) 2.19% (non-retail)
Mid-Qualified Rate	2.39% (retail) 2.89% (non-retail)	2.19% (retail) 2.69% (non-retail)
Non-Qualified Rate	3.79% (retail) 4.19% (non-retail)	3.29% (retail) 3.79% (non-retail)
Transaction Fee	$0.30 (retail) $0.30 (non-retail)	$0.20 (retail) $0.25 (non-retail) $0.50 (touch tone)
Address Verification Service (AVS)	$0.10	FREE
Batch Fee	$0.35	$0.25
Pin-Debit Transaction Fee (retail only)	$0.50	$0.20 + Debit Network
Pin-Debit Monthly Fee (retail only)	$5.00	FREE
Monthly Service Fee (only listed to reiterate)	$15.00	$10.00
Monthly Minimum	$35.00	$25.00*
Annual Fee	$79.00	None
PCI Compliance Fee	$79 to $600 a year	Varies - Call Us**
Contract Term & Cancellation Fee	3 Years / $495	2 Years / $250***

* We generate our profit when a merchant processes. When there is zero processing volume or very little, a monthly minimum helps make the account profitable. A $25 minimum is charged by default. If this is an issue for your business, please call us for different terms and mention this page to your representative when calling.

** Every big processor we are aware of 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.

*** Most merchant accounts come with some sort of contract term and cancellation fee. There is significant cost involved in setting up and maintaining a merchant account. This fee helps recoup some of those costs should a merchant cancel, especially in the beginning. To help maintain a level of excellent service and support, our accounts generally come with a two year agreement. If this is preventing you from doing business with Gotmerchant.com, we can work with you on different terms. Please call us for details and mention this page to your representative.