Meramak Bankcard Midwest Merchant Account Services

Credit card processing rates and fees


General Credit Card Processing Rates


Below are the general processing rates for accepting credit cards. Some businesses such as grocery stores may qualify for a lower rate. Some corporate and government cards may be processed at a higher rate than shown.

To conduct any credit card transaction, you need a way to transmit the credit card information.
See the point-of-sale equipment page. Options range from using a telephone to wireless handheld devices.

Processing Rates

Qualified (Swiped)

  • 1.75% MC/Visa Rate
  • .20 cent transaction fee
  • $10 monthly statement fee
  • $25 monthly minimum*
    (unless you qualify)
Pre-Apply or Contact Us

Processing Rates

Non Qualified (Unswiped)

  • 2.39% MC/Visa Rate
  • .30 cent transaction fee
  • $10 Statement fee
  • $25 monthly minimum*
    (unless you qualify)
Pre-Apply or Contact Us



Swiped Transactions

Swiped transactions are usually retail sales transactions. The cardholder is almost always present for the sale. Since a credit card terminal "reads" the magnetic stripe, banks knows the customer is probably present with the card which greatly reduces the risk of disputes and possible chargebacks. You will receive the lowest rate for these "qualified" transactions.

Non-Swiped Transactions

You can manually key in the credit card number if the card is not readable or not present, such as a worn magnetic stripe on the card, off-premise sales keyed in at a later time, pre-authorized transactions, or mail / phone orders and home businesses. In most all cases, if the credit card cannot be swiped, it is processed at a higher rate than swiped transactions.


*Monthly Minimum Discount

If your business does the minimum amount of credit card transactions required by banks each month, the following fee will not apply.

Minimum Monthly Discount is pro-rated. All merchant accounts should do a minimum amount of business each month.

Your discount rate X your monthly sales = Minimum Monthly
Example: Say your discount rate is 2.39%. Your monthly sales amount to $1050, and your monthly minimum is $25.

.0239 X $1050 = $25.09 which means the $25 monthly minimum is met and you would owe nothing.

Anything above the minimum, the fee is waived.
Anything below the minimum, fee is pro-rated from $0 to $25
Remember: meet the minimum and you owe $0
Meet half of the minimum, and you owe $12.46
If you had no credit sales in a month, you would owe $25.

Most businesses never have to pay this fee, and if they do, it's only for a couple of months until their business becomes established and their sales increase.

Some government cards and corporate purchasing cards are processed at higher rates according to MasterCard and VISA regulations.
These types of cards usually require Level II or Level III processing.

Note: If you think that your business will do less than $500 in credit card transactions per month, you may want to wait until your sales increase. Accepting credit cards may not be cost effective for your business until your monthly volume increases.

All businesses must be approved for a merchant account. Some businesses are easier to get approved than others. See our merchant approval page.

If you want to have a merchant account setup for you, call us or fill out our pre-application and contact form online. 1-888-336-4872.