Skip to main content
No. of Recommendations: 2
One added benefit of QuickBooks: built in merchant account (VISA/MC/AmEx/Discover) processing. It's quite a bit cheaper than most banks. We pay $14.95/month + whatever discount fees are due. It's much easier to do this than to get a terminal and pay the outrageous fees required for that.

I hate to break this to you, but $15 per month plus 20 cents per transaction plus 2.35% are outrageous fees. I've been using the QB merchant account system for 18 months now, and as the business grows I'm amazed at how much they take out. If you have customers present for most of your transactions, you're better off going to a terminal with a debit PIN pad. A debit transaction costs around 50 cents, compared to 20 cents plus 2.35%, which adds up in a big hurry if you have transactions of more than a few dollars.

I'm currently in the process of getting quotes to switch, though I think I've made my decision. I'll probably get a terminal off ebay or something once I decide on the terminal. The thing to avoid is the outrageous terminal leasing fee, which is double or triple what you pay to buy outright. Just watch out for setup fees and multi-year contracts.
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.