Compare Payment Methods
Example: Estimated* Processing Cost of a $250 Payment
 |
NO |
$0 |
$0 |
$0 |
$0.00 |
Checks by mail or
delivery service |
YES |
$0.42 - $10.00 |
LOW |
$0 |
> $1.00 |
|
Credit Card |
YES |
$0 |
HIGH |
$6.50
(2.0% + $0.25)
plus monthly fee |
> $6.50 |
|
ACH / POS / EFT |
YES |
$0 |
LOW |
$0.50
(1.6% + $0.25)
plus monthly fee |
> $0.50 - $4.25 |
|
Debit Card |
YES |
$0 |
LOW |
$0.50 - $4.00
(1.6% + $0.25)
plus monthly fee |
> $0.50 - $4.25 |
|
PayPal |
YES |
$0 |
HIGH |
$7.55
(2.9% + $0.30) |
> $7.55 |
|
Wire Transfer |
NO |
$0 |
$30
Outbound |
$10.00
Inbound |
$40.00 |
Important Message to Consumers: Enabling overdraft protection with banking institution,
for your checking account, can replace the need for high-interest rate credit cards and
reduce your interest exposure by 50-80%. Merchant or Wire cost calculation based on
http://www.merchantseek.com, BofA Wire Fees, PayPal and other public information.
Data and cost amounts for individual transactions may vary. Estimates do not include late fees,
reversals, overdraft and interest rate charges to consumers and businesses (associated with credit card usage).
|