Merchant Bank Card Services
Using a Merchant Bankcard Account, businesses that accept Visa/MasterCard, American Express, Discover and Diners Club are able to process credit card charges and receive payments for the charges they accept. They also process debit-card transactions on both STAR® and NYCE cards. The customer contracts with a bank approved card processing company which process charges and then credit the customer’s account at NVE Bank.

Features:
The customer must maintain an NVE Business Checking account. The customer contracts with a bank-approved card processing company. The customer submits electronic or manual charges through the third party processor. The processing company credits the customer’s account at NVE Bank, usually within 48 hrs. The depositor receives a statement and all paid checks, monthly. Free Telephone Banking is available for this account.

Rates:
The third party processor does charge a percentage of each transaction as a processing fee, as well as charging for credit card processing equipment and supplies. Fees are negotiable based on volume and average sales.