Reprinted from
SuperMomPreneur...
Everyone is familiar with PayPal, and now Google Checkout is giving them a run for their money. But my professor suggested I look into Costco's Merchant Account offerings. Here's the lowdown:
- 1.99% plus .27 per transaction.
- Accept Visa, MasterCard, American Express, Discover, debit cards and corporate purchasing cards.**
- $4.95 monthly statement fee - waived for Executive Members
- One time $25 application fee - waived for Executive Members
- Live customer service 24-hours a day / 7-days a week
- Free basic online merchant account access
- No batch fees
So, if you pay for an executive membership ($100 annually), all your fees are waived. I'm already a member, but I'd have to pay that extra $50, but it would be worth it to avoid a $5 monthly statement fee.
Also, Executive Gold Star members (still $100) get 2% back on their purchases throughout the year. If you bought all your office supplies and stuff there, that would really add up. Plus, executive membership includes a household card, so I guess you can buy your food also, and get the 2% on that. This seems ideal for someone like me starting a sole proprietorship...I'm always looking for those extra little rewards for my family.
I'm still deciding which to use, but it looks like it's going to come down to the extras...any thoughts?