North American Bancard Rates, Fees, and Costs | Explained!

by Satefa f. Ncious - Get Everything You Need to Know

North American Bancard accounts and payments in North America are not listed on the company’s website. The company’s standard merchant contract does not provide for specific rates and fees, which means that it can change rates and fees for each trader depending on different factors, such as the volume of work. and the sector to which it belongs. According to our best research, if you join the North American Bancard Agent Program, the merchant reviews refer to two separate plans - the payment plan for use and the standard merchant account plan.

According to traders, the usage payment plan is 6.90 percent for fraudulent transactions. The same reviews show that the company charges 4.90% + $ 0.19 to $ 0.19 for keyboard operations. There are no monthly fees in this plan, although there is a $ 3.99 activation fee if no payment is made after 12 months.

The same notices detail the company’s standard prices. As part of the company’s standard plan, NAB will pay 6.90% for drag operations and 6.90% for each transaction and an additional $ 0.19. The standard plan also includes a $ 12.95 service fee, the same inactivity fee of $ 3.99, and a minimum monthly fee of $ 79. The model plan is under a 3-year contract, the automatic renewal period is 1 year. It also includes a $ 295 fee for early cancellation, which may exceed that amount, as it includes a damages clause.

Virtual Terminal and Payment Gateway Pricing

In addition to in-store payment processing services, the North American Bancard also has a section on its website that advertises its virtual terminal and payment gateway services. According to its website, the company offers 8 gateway options, including Authorize.Net and USAePay. Prices will depend on the gateway used by the merchant. Additional fees and charges, including gateway fees, technical support fees, batch processing fees, and additional transaction rates apply to these e-commerce services.

Liquidated Damages

The North American Bancard Standard Agreement contains a 36-month service agreement, which is automatically deducted from the merchant’s account upon cancellation of the service as an early cancellation fee for canceled damages.

In fact, merchants who cancel a service before the contract expires must pay the remainder of the monthly fees accrued during the contract, with a minimum value of $ 295 for early termination. As a result of this policy, merchants canceled payments amounting to thousands of dollars. Also, if they rent equipment and cancel early, traders may incur additional costs.

Other North American Bancard Fees

Traders report that the North American Bancard charges a variety of unexpected monthly fees, as well as PCI’s annual fees, which can be as low as $ 79. Learn everything you need to know about prices and how to get the lowest payouts on Fee Sweep: how to get rid of merchant services you don’t need.