subject: Which Merchant Account Has The Lowest Applicable Fees [print this page] It is difficult to pinpoint which among the merchant account providers offer the cheapest fees since their rates vary in one point to another. Kindly review and compare the following providers as to which one have the lowest rate ever: Merchant Account Express, Banc Certified Merchant Services, Charge Card Service, Total Merchant Services, Cheap Merchant Accounts, and The Transaction Group.
Huge number of merchant accounts has existed for several years now, continuously claiming to be the cheapest. However, you can never tell which is the best and has the lowest rate since every service provider has varying costs and rates. One may offer a lower discount rate, but asks for a higher gateway fee; therefore, would end up paying for the same amount. Identifying which account provider has the lowest rate depends on how you weigh the variations in their respective costs. Below are some of the account providers with their respective rates for your comparison:
Merchant Account Express
Offers you all credit card related services like mail order, quickbooks, phone order, and more. This provider requires no installation fee with low other fees such as:
* $0 application fee
* $129 set up fee
* $2.29 discount rate
* $0.30 transaction fee
* $14.95 gateway fee
* $9.95 monthly fee
Banc Certified Merchant Services
As member of Better Business Bureau, this account provider is in good standing. Below are services with their corresponding fees:
* $0 application fee
* $75 set up fee
* $2.9% discount rate
* $0.25 transaction fee
* $15 Gateway fee
* $7.50 Monthly fee
Charge Card Service
The high set up cost is used to purchase Internet software, which is needed for shopping carts. However, the posted rates are more or less the same with the one set by the industry.
* $0 application fee
* $195 set up fee
* $2.35 discount rate
* $0.25 transaction fee
* $19.95 gateway fee
* $10 monthly fee
Total Merchant Services
Setting up a payment gateway is easier with Total Merchant Services because of their many gateway partners such as Authorize, VeriSign, Plug'n Play, and PC Charge Pro. Based on Authorize gateway, the fees are as follows:
* $0 application fee
* $149 set up fee
* $2.29 discount rate
* $0.30 transaction fee
* $10 gateway fee
* $9.95 monthly fee
Cheap Merchant Accounts
There will be a one-time, non-refundable payment for the application of a merchant account. The discount rate may vary; however, a minimum rate of $2.59 is required.
* $89 application fee
* $2.59 discount rate
* $0.35 transaction fee
* $5 gateway fee
* $15 monthly fee
The Transaction Group
Being one of the leading card processors, this one doesn't require minimum monthly fees as well as cancellation fees, but other fees are still applicable such as:
