Processor Directory > Merchant Bankcard

Merchant Bankcard Review

A relatively new contender in payment processing, Merchant Bankcard was founded in New York in 2015. The company offers a 30 day risk free trial for all payment services.
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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¢
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¢

As with all processing, the interchange (true cost) amount varies depending on the card type and other details.

If you'd like to get a fully-disclosed quote of your total costs, you can request a Merchant Bankcard quote by signing into your CardFellow account or signing up here.

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.

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Posted by Pat on Nov 18, 2021


I had to switch processors from these guys because I purchased a new POS system. Now, there are 2 charges showing up on my bank statement every single month from this company. One charge is $37 and the other is $74.99. They flat out denied the larger charge and told me I needed to send them paperwork to stop the processing (which I had already done). I finally had my bank put a stop payment on them, filed the paperwork with them again and am hoping that works. Shady, shady, shady.

Posted by MD on Jun 19, 2020


BEWARE OF MERCHANT BANK and their subsidiary Cardconnect. Their payment gateway was hacked 210000 times in a few hours and they passed on the cost to me. They took over $10000 from my bank account via ACH transfer with no notice and are not being helpful explaining things or returning my money. I used them for a few years prior with relatively little problem. This fraudulent event is over the top. Find someone else to help you.

Posted by Ken Mershon on Jun 10, 2016


Merchant Bankcard's business practices are questionable. I made it crystal clear to the rep who first contacted me that I do very few transactions because my business is just something I do on the side and paying monthly fees would not make any sense. He assured me there were no monthly fees. HE LIED! Not only do they charge a $17 a month fee but there is also a random $45.80 fee they periodically throw in there. After the first $17 charge is when the problems started. I contacted Merchant Bankcard and demanded a refund and my account to be cancelled immediately. Gavi Smith then said he would cancel the account and I needed to send the device back to them (on my own dime). 2-3 weeks after this conversation I had a random charge on my account for $45.80! I was absolutely livid at this point. I sent a few emails and got no response. A few more weeks went buy and I received a statement in the mail telling me another charge for $17 is coming out on 6-16-16!!! Gavi never cancelled my account. I then called and left multiple messages cause I couldn't get anybody on the phone (these people are difficult to contact). I also sent more emails and wrote a Google review. Gavi Smith finally emails me and asks for a good time to speak (ASAP!) I guess their philosophy is "don't call us, we'll call you." I call Gavi and he finally answers. I explained all over again how upset I was with the lies and constant charges even though I NEVER used the device or their service. Gavi was helpful, though, and understanding. He had my money refunded within 2 days. Why did it have to get to this point though?! I really hope Merchant Bankcard looks closely at this entire situation from the shady rep to my account not getting cancelled and also the difficulty to access a person via phone. In closing, I of course DO NOT recommend them. They do however have relatively low fees when compared with other services albeit it's not clear when or why you will be charged. In my case It was a very bad sales rep that lied to me right off the bat. And while Gavi was able to refund my money, during our first call he said that he had to check to see if I was eligible even though it was established that I had only had service for a month and they have a "90 day risk free guarantee". I think they are confused about what that actually means.

Posted by Susan on Feb 10, 2016


Our company has had a fantastic experience working with Merchant Bankcard.

Thank you so much for the review. We are looking forward to growing our relationship together and keeping you happy throughout!