SOURCE: Merchant Resources, Inc.

Merchant Resources, Inc.

June 02, 2015 09:00 ET

Credit-card-processing.com Compares Wells Fargo Merchant Services, Chase Merchant Services & Bank of America Merchant Services

LOS ANGELES, CA--(Marketwired - Jun 2, 2015) - Merchant Resources compares its credit card merchant services to those of Wells Fargo, Chase and Bank of America.

After Merchant Resources called the 1-800 listed on each of Chases, Bank of America and Wells Fargo websites, Merchants Resources found a variety of differences and cost of each of the "Big Bank's" credit card merchant services.

The compilation below:
-Chase Paymentech

  • Base Retail Visa/MC rate of 1.99%
  • Mid qualified rate of 2.68%
  • Non qualified rate of 3.76%
  • $100 fee to get setup
  • $25 monthly minimum
  • Monthly fee of $9.95
  • Free terminal with a 2 year contract

-Bank of America

  • Base Retail Visa/MC rate of 1.69%
  • Mid qualified rate of 3.19%
  • Non qualified rate of over 4% (Did not disclose exact rate
  • Terminal cost on a lease of $28.95 per month or purchase for $599

-Wells Fargo

  • Base Retail Visa/MC rate of 1.8%
  • Lease of terminal for $35 a month or purchase terminal for $500
  • $75 yearly fee
  • Wells Fargo and Bank of America would not send us a contract "until" we filled out personal information with a social security number etc.

What Merchant Resources found interesting is that the rate Wells Fargo quoted was 1.8% total. There were no other charges or fees for reward cards, foreign cards, purchasing cards and government cards.

Merchant Resources has been in the business over 20 years and we know "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 what the actual fees are.

Merchant Resources offers the following.

  • Interchange plus pricing. This means you pay what the banks pay plus a small markup. Much lower than the rates above.
  • We provide a free terminal with no contract
  • Next day funding
  • Work with the 2nd largest merchant acquirer in the U.S.A
  • One day approval
  • Overnight shipping with free upgrades
  • Twelve rolls of paper with a new account
  • Accept Visa/MasterCard/Discover/American Express/Debit/EBT
  • Offer POS system for restaurants

To receive a free no obligation merchant account quote, visit http://www.credit-card-processing.com or call 1-888-895-3129

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