Lows % credit card processing company

I am looking for the best and lows percentage credit card processing company to handle our credit cards ?
Good Luck on this one !

Very hard to get an apples to apples comparison, Bob. I can tell you for 14 years I've done the homework and I'll be happy to discuss with you. Please give me a call - it's not a simple explanation.

Stacy's right. It's almost impossible to compare pricing because of the way the different fees are "packaged." We went thru Sam's Club and have been reasonably satisfied.

I can put you in touch with one of my BNI buddies whom is also a personal friend - they are the regional manager for BanCard, if you like.

I have changed several times over the last 6 years and so far the best has been the bank where I have my checking account. The reason being, the money gets to my account the next day business instead of the the next two to three business days. I may loose a half to a full point here or there but the money is in the account ASAP and for me that really counts. Be sure and ask when your deposit will hit. Ask about qualified and non qualified cards. You will get dinged pretty good on corporate cards and on reward cards (both non qualified). Ask about those rates. Every company will claim to save you money but they all have a different way of taking their fees..so it is very hard to decipher.

Be careful about your current termination clause with your processor. Also, your POS company, if you use POS, may charge you a switchover fee and could also be trying to control your processing relationship.

Banks that fund you next day are moving the money to your account before it clears the Fed, so they have to be making money somewhere, especially as fee hungry as banks are in today's economy.

I work with Heartland Payment Systems, a stronger supporter of KRA with 500 employees at service hub in Jeffersonville, Indiana.

Banks that fund you next day are moving the money to your account before it clears the Fed, so they have to be making money somewhere, especially as fee hungry as banks are in today's economy.

No offense, but lets face it, banks are hungry for fees as are companies like yours. They are all fee hungry. I want my money as fast as I can get it and most non banks take too long to get it in the account.

Good luck. My hubby and I are busting our butts to pay off our credit card before the company can further screw us...

Given the continuing low interest rates, especially on money funds and checking accounts, I think letting someone have some float in exchange for services is pretty smart right now. You might change your mind as rates rise, but someone like Heartland or the banks are not making much money on your daily funding. (Assuming, of course, that they are doing a good job of matching assets and liablities and not taking your cashflow and lending it as 30 year mortgages!)

no offense taken Will, great discussion

Welcome to the board Johnny B. I have to say I am surprised to see you here.

Just trying to keep up with you Big Dog!

We have many small purchases at my coffee shop. So I found a place with a higher percentage, but no swipe fee. PNC Bank merchant services does it for 2.69% flat rate. No extra fees. No swipe fee. AMEX is a bit more (still no swipe fee), but not bad.

For a five dollar purchase, this saves me a bundle. (I have a LOT in the $5-10 range). It is also nice to only pay a nickel fee when someone just charges a cup of coffee (rather than the swipe fee plus).

Hope that helps someone out there....

Nimbus

Just a suggestion to try Costco as well as Sams - both are aimed at small businesses

I would be happy to provide a price quote for you Bob. Our company is not necessarily the lowest all the time, but we are completely clear with the percentages and fees being charged to each business. We do not bundle or hide fees.