Credit-card-processing.com Compares Costco, Square Reader, Bank of America and Wells Fargo Credit Card Merchant Account Rates

Oceanside, California, June 20, 2015 (Newswire.com) - Merchant Resources called the 1-800 listed on each of the above 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%

*The square reader is a good solution for merchants that are seasonal, since "SquareUp" does not have any monthly fees. Merchant consistently over $10 per sale in Visa/MasterCard volume per month, have better options at www.credit-card-processing.com.

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.

Costco

-- Base Retail Visa/MC rate @ 1.38% and 19 cents -- Rewards Cards Visa/MC rate @ 1.99% and 19 cents -- Business Cards Visa/MC rate @ 2.65% and 29 cents -- Foreign and Government Cards Visa/MC 3.55% and 29 cents -- Terminal lease $30 a month for 2 years or $489 terminal purchase -- Need to be an executive Costco member, so you need to pay $110 a year -- No contract "until" filing-out personal information using a social security number, etc.

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.

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 Terminal, cellular phone Swiper or POS for restaurant

If a business has a low average ticket, Merchant Resources can provide a transaction fee of 5 cents. To receive a free no obligation merchant account quote, visit http://www.credit-card-processing.com or call 1-888-895-3129.