If you're looking for a credit card processing company, this Merchant Bankcard review and profile provides details on rates and fees, services, customer experience, and more.
What services are offered? Merchant Bankcard is an all-encompassing payment processing company. It will provide you with the devices, software, and apps you need for card, check, mobile, and online e-commerce payments. You can also capture customer data, set recurring transactions, create customized reports, and more by using their gateways. You will see funds from the transaction in your account within 12-24 hours after it has been processed. Merchant Bankcard also offers convenient integration with QuickBooks.
In person processing Merchant Bankcard allows for you to process credit card payments made with all major credit cards, including Visa, MasterCard, American Express and Discover as well as lesser-known brands like JCB. Debit transactions are possible as well via Pulse and Cirrus.
Mobile processing: If you're looking for the option to process payments on-the-go with your smartphone or tablet, you might be interested in Merchant Bankcard's mobile processing capabilities. All you'll need to do is download their mobile app to begin accepting payments. You won't need any additional equipment.
Ecommerce processing: If you allow or want to allow your customers to make purchases on your website, Merchant Bankcard can provide you with their payment gateway, Merchant Contactless Bankcard, that allows for check and credit card purchases to be made online. This application processes both one-time and subscription payments that can also be made in-person or via telephone. Additional features include the ability to capture customer data and run customized reports.
What are Merchant Bankcard's rates and fees?
Merchant Bankcard publishes costs using interchange plus pricing. You can expect to pay the actual interchange fee and assessments (called true cost by Merchant Bankcard) and then a separate markup. Merchant Bankcard lists the following pricing:| In person Monthly fee: $5 Per-transaction: true cost + 0.25% + .10¢ | Mobile Monthly fee: $0 Per-transaction: true cost + 0.45% + .05¢ | Card not present (internet) Monthly fee: $9.95 Per-transaction: true cost + 0.35% + .10¢ |
What about equipment?
Once your business is approved you will either have your existing terminal reprogrammed or you will be provided with a new EMV chip card capable terminal. Both services are free. If you're getting a new terminal, your equipment will be shipped and delivered within 24 hours of approval. All you have to do from there is plug it in and start taking payments.What if I need help?
Merchant Bankcard has a customer service call center that is based in the U.S and open 24/7/365 for anything you need. Calls are answered quickly and by a human being. Upon signing up, you will also be assigned an account manager who can help assist you.Any other perks I should know about?
Merchant Bankcard offers:- No contracts
- No cancellation fees
- A 30-day Risk Free Trial
- Possible discounts on QuickBooks by Inuit
Merchant Bankcard reviews and reputation
This company was started in April of 2015, so there are not many reviews and they are not yet accredited with the Better Business Bureau. Most of the reviews on Google are positive. One negative review simply stated she was wary. Merchant Bankcard replied by asking about what they could have done to reassure her. Only two reviews were truly negative, one on Google and one on Ripoff Report. Both claimed they had been charged more than expected with hidden fees and to watch your statements closely. From what we've seen there is an even split of happy and unhappy customers, though not much in the way of reviews in general. One might say no news is good news? If you think it is worth the risk, there is always the 30 day trial option. While they allude to having been featured in The Huffington Post, The Wall Street Journal's Market Watch, and CNN, there are no links to these articles and, after doing some research, we discovered they were never cited by name. Additionally, the snippets of articles that Merchant Bankcard posts in a "featured in the press" section are actually from articles about processor Payment Depot.
Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.
