Three-Year Contract
Bank Transactions Inc. provides a three-year contract term in partnership with First Data (Fiserv), as detailed in their Merchant Agreement and Program Guide, with an early termination fee of $299. The agreement outlines several fees including a minimum monthly fee of $25, an annual fee of $99, a monthly wireless fee of $25, an eMerchantView access fee of $25, a customer service fee of $12, a monthly statement fee of $10, and a debit access fee of $5. Furthermore, the company adopts a tiered pricing model, offering rates ranging from as low as 1.75% to as high as 3.50% plus $0.13 per transaction.
Virtual Terminal and Payment Gateway Pricing
Bank Transactions Inc. extends its services to include virtual terminal and payment gateway solutions. Specific pricing details for these services are not disclosed upfront, and businesses may incur additional costs such as gateway fees, technical support fees, batch fees, and other transaction-related charges for e-commerce functionalities.
Interchange-Plus Available
The company’s approach to pricing transparency is notable, though its rates and fees may not align with the most cost-effective solutions available in the market. Bank Transactions Inc. does offer interchange-plus pricing options for merchants that meet certain qualifications, providing a potentially more favorable pricing structure for some businesses.
Merchants looking for competitive rates and terms are encouraged to explore our curated list of the best merchant account providers to find suitable alternatives.
