Square Reader, Bank of America, Wells Fargo and Chase: Rates of Credit Card Processing Compared

SEATTLE, WA – 12 Oct, 2015 – 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. Merchant Services credit card processing rates save you much needed money. You don’t have to pay for an expensive machine or point of sale system.

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:

Square Reader

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

The square reader rates are extremely high, especially if your average ticket is over fifty dollars.

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

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 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

Chase Paymentech

• 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 Resources offers the following:

• 1.25% for debit/credit card with no pin • 1.65% for base Visa and MasterCard, Discover • No Monthly Fees • FREE EMV Terminal with Pin Pad, Swiper for your cellular phone, or POS for restaurant

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

Full News Story: https://pressreleasejet.com/newsreleases/2015/square-reader-bank-of-america-wells-fargo-and-chase-credit-card-processing-rates-compared/