My fee for the wireless machine are $55 a month with free supplies and a full replacement warranty if I run the thing over. The charges have been .03 a transaction to date. It is a new small small merchants account. I do my batch at night and the next day the money is in the bank. In my mind, when I get this gig down and find a busier spot, that this will pay for itself in spades.
Mike, Why do you batch if you have a wireless? Those rates sound good as long as you are doing over a few thousand a month. What’s you rate like for larger (e.g., catering order) and non-swipe transactions?
You have to do a batch at the end of the day, or you do not get your money, just like a B&M. And my money has been there every morning. The non-swipe charge is… off the top of my head .18 or .20. As far as the rate for larger purchases… off of the top of my head again, is 1.9%. It was the best I could find and they deal direct through my bank. The manager at my bank has a self employed husband who uses this same outfit. She said she could not find anything better rate wise. It is a special deal through my bank, TCF and First Data. In my research, I could not find anyone that beat their rates.