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Intuit credit card fees through Sekure Merchant Solutions

I am being offered a credit card processing from Sekure Merchant Solutions.  Not a ton of savings on the percentages, however, they would only charge $4.95/month instead of $19.95.  I only receive payments through Quickbooks or over the phone.  Any thoughts?  Is it worth changing for the $15.00/month savings?  Can Quickbooks be more competive with fees?  We try and keep our credit card payments to a minimum, but with a month of $2200.00 in credit card processing, I paid $117 in fees.  I appreciate your thoughts.  Thank you.

Solved
Best answer 02-08-2018

Accepted Solutions
Level 12

Re: Intuit credit card fees through Sekure Merchant Solutions

Don't know what else in fees you are paying but manual entered card transaction fees (card not present) through MOST providers including Square is right around 3.5% plus a small per transaction fee os 15-35 cents. Square also does not charge any monthly fees.  If you ran $2200 through Square, for example, your total in fees would have been around $80-$85 tops depending on how many transactions (3.5% of 2200 is 77)

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Anonymous
Not applicable

Re: Intuit credit card fees through Sekure Merchant Solutions

Hey @MichelleEricson,

 

Welcome to the community. How many credit cards are you processing each month? As @john-pero said, there are varying fees based on the volume of transactions and whether or not you swipe, key-in or invoice a charge.

 

Try this - do 100 transactions at $10 each and see which payment method works for you (note - the last column doesn't show its true value because I used a low number of transactions):

 fee rates.PNG

 

 

To answer the second part of your question, I would recommend against passing those feeds onto your users without doing some research first (or notifying them, that's just good business). @Rustler has noted on the Learn and Support page that this is potentially illegal in certain states.

 

Stay compliant!

 

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8 Comments
Level 12

Re: Intuit credit card fees through Sekure Merchant Solutions

Don't know what else in fees you are paying but manual entered card transaction fees (card not present) through MOST providers including Square is right around 3.5% plus a small per transaction fee os 15-35 cents. Square also does not charge any monthly fees.  If you ran $2200 through Square, for example, your total in fees would have been around $80-$85 tops depending on how many transactions (3.5% of 2200 is 77)

View solution in original post

QuickBooks Team

Re: Intuit credit card fees through Sekure Merchant Solutions

Hello MichelleEricson,

 

I'd like to make sure you've got all the info to make the best business decision that you can. 

 

We have all of our fee rates available for you here: https://quickbooks.intuit.com/payments/.

 

You'll be able to see what the keyed rates look like for our free plan and the paid plan.

 

Reach out to me if you need more info. 

Level 1

Re: Intuit credit card fees through Sekure Merchant Solutions

Hello,

 

Im actually looking for a way to pass the fees onto the client automatically. Is there a way that QB to do that?

Thanks for your help.

QuickBooks Team

Re: Intuit credit card fees through Sekure Merchant Solutions

Hello Pat2,

 

I would be happy to give you an option with that one.

 

I've seen that many QuickBooks users will create a Product/Service item for those fees. You'll leave the amount blank when creating it initially and just add the amounts manually.

 

Let me know if that works out for you. 

Anonymous
Not applicable

Re: Intuit credit card fees through Sekure Merchant Solutions

Hey @MichelleEricson,

 

Welcome to the community. How many credit cards are you processing each month? As @john-pero said, there are varying fees based on the volume of transactions and whether or not you swipe, key-in or invoice a charge.

 

Try this - do 100 transactions at $10 each and see which payment method works for you (note - the last column doesn't show its true value because I used a low number of transactions):

 fee rates.PNG

 

 

To answer the second part of your question, I would recommend against passing those feeds onto your users without doing some research first (or notifying them, that's just good business). @Rustler has noted on the Learn and Support page that this is potentially illegal in certain states.

 

Stay compliant!

 

View solution in original post

Level 1

Re: Intuit credit card fees through Sekure Merchant Solutions

I use to do bank card processing the PCI Compliance is a scam. It is a way to sneak higher fees to merchant who forget to do their annual "compliance" but 9.27% proceesssing fee for AMEX...REALL!!! Filing a complaint with the Office of the Comptroller of Cuurency

Level 1

Re: Intuit credit card fees through Sekure Merchant Solutions

How does Quickbook online decide what fees to charge?  I recently have had two transactions that were sent via invoice online.  From that invoice the client went and payed by credit card.  However Quickbooks charged me a fee of 3.4% + $.25 which is what it should have been if card was keyed in.  Granted I dont do a lot of  card processing but .5% can add up over time and if I am being overbilled I need to know.  Or are the explanations incorrect?

QuickBooks Team

Re: Intuit credit card fees through Sekure Merchant Solutions

Hi there, @ResProd.

 

I appreciate you reaching out to the Community. I can make sure you'll be routed to the best support for your fee inquiry.

 

We follow a processing fee scheme for every transaction using the QuickBooks Payments. However, verifying the .5% add up bill needs your account details. 

 

To do so, you will have to contact our QuickBooks Payments Team to provide your company credentials. Through this, they can pull up your account and check what the charge is for.

 

That should get you on the right path. Keep me posted on how the call goes or if you have other concerns about QuickBooks. Have a good one!

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