Home » Health & Medicine, Law & Legal, News & Current Affairs, Retail, Services » Evalon Costco Compares Credit Card Processing Rates of Square Reader, Chase, Wells Fargo
Merchant Resources called the 1-800 listed on each of the credit card merchant services and discovered a variety of differences outlined below:

Square Reader

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

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 Merchant Resources called received different quoted 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 Resourcesoffers the following: 

  • 1.65% for base Visa and MasterCard, Discover
  • No Monthly Fees
  • FREE Terminal, cellular phone ?Swiper or ?POS for restaurant
  • If a business has a low average ticket, Merchant Resources provides 5 cents transaction fee

For more information, visit: www.credit-card-processing.com

Media Contact
Company Name: Merchant Resources
Contact Person: Jim Johnston
Email: merchantconsult@gmail.com
Phone: 1-888-895-3129
Country: United States
Website: http://www.credit-card-processing.com

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