Merchant One

 

Merchant One is a registered ISO/MSP (Independent Sales Organization/Member Service Provider) of Wells Fargo Bank, NA Walnut Creek, California, and of First National Bank of Omaha, Omaha, Nebraska. Merchant One was established in 2002 and is based in Miami Beach, Florida.

OPTIONS
 Statement Fee
 $7.95
 Clear the  Account
 1 Day
 Monthly  Minimum
 $20.00
 Approval Rate
 98%
 Setup Time
 Same Day
 Free Terminal
 NO
 Average Rate
 1.59%
 Transaction  Fee
 $0.20
RATINGS
 92%

HERE IS OUR FULL REVIEW

Pros:
They offer competitive rates, fraud protection, and 24/7 support. A personal representative is assigned to an account. They provide service to businesses large and small for retail, mail order/phone order, Internet and e-commerce and trade shows while also offering a range of equipment in support of their service. Some 90,000 businesses served range from Fortune 500 companies to startups. To help a business even further they make available gift and loyalty card programs and text marketing services. They can also process checks besides credit card transactions. For credit card transactions for the major cards, they promise next day funding.

Cons:
A number of merchant customers have complained about hidden or undisclosed fees or escalated fees, high cancellation fees, annual fees, and 3-year commitments they were not made aware of with information either not presented or buried in fine print; poor and rude customer service, unusual money holdbacks, and difficulty getting credits and fee reversals. That said, the company has an A+ ranking from the Better Business Bureau.

OUR FINAL CONCLUSION

The company offers competitive rates and has a pledge to customer service that seems to have satisfied the vast majority of their merchant customers; but they are hardly complaint free, underscoring the need to fully understand and carefully go through any contracts and commitments, and understand all fees and ask questions, get things in writing.

OPTIONS
 Statement Fee
 $7.95
 Clear the  Account
 1 Day
 Monthly  Minimum
 $20.00
 Approval Rate
 98%
 Setup Time
 Same Day
 Free Terminal
 NO
 Average Rate
 1.59%
 Transaction  Fee
 $0.20
RATINGS
 92%
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