Intro

US Bank credit card processing is a solid option for many different businesses. It makes it easy to accept payments anywhere and comes with additional benefits like fast funding speed and staff/inventory management. There are no long-term contracts or cancellation fees, and the company offers 24/7 customer support. The software can also help generate reports, view transactions, and more.

US Bank in Brief

Monthly fee: Starts at $0

Per swipe fee: 2.6% + 10 cents (3.5% + 15 cents for key-in transactions and 2.9% + 30 cents for online transactions)

Setup fee: $0 - $99

Cancellation fee: None, no long-term contract required

PCI compliance fee: None

Best for: Businesses that want a flexible payment solution with different plans

Terminals: The company offers several types of payment terminals. These include a mobile point of sale (POS) app for those who want to use their phone to collect payments.

In addition, the company leases and sells talech smart handheld terminals with the Ingenico Axium platform. These have a touchscreen display, built-in printer, and good battery life.

It also offers the talech Station register that features a 15-inch display. The bundle comes with additional peripherals like a card reader, cash drawer, and receipt printer.

POS Solutions

US Bank provides flexible POS plans that suit different types of businesses. The company offers countertop and handheld options with each plan so you can choose how you want to accept payments.

It currently has 4 different solutions, which are:

• Mobile - Best for small businesses that want to use their device to take payments on the go
• Starter - Best for cafes and small retail stores
• Standard - Best for quick-service restaurants and medium-sized retail stores
• Premium - Best for businesses with multiple locations and full-service restaurants

As your company grows or changes, you can easily move to the next plan. You can also reach out to the company to create a customized plan suited to your needs.

Merchant Services

The company offers a selection of merchant services to help streamline and improve your business finances. Everyday Funding is a great feature because it lets you get access to your funds in a matter of hours, 7 days a week. This ensures you can pay invoices and cover expenses without waiting days for customer payments to reach your business bank account.

It enables you to accept all major credit and debit cards as well as contactless payment solutions like Apple Pay. US Bank payment solutions also simplify managing staff and inventory with features like employee scheduling and inventory alerts.

Pricing

The company offers 4 different point-of-sale options, each with a different starting price point. What you end up paying varies depending on the size of your business, your needs, and the plan you go with (whether it’s one of the 4 or a customized option).

The most basic option, Mobile, has no monthly fee and lets you use your own smartphone to accept payments through an app. It supports up to 100 products, provides SMS and email receipts, and basic order/menu management.

The next step is the Starter plan, which costs $29 per month and supports up to 500 products, inventory tracking, splitting items, custom discounts, and more.

After that, there’s Standard, which costs $69 per month. It supports an unlimited number of products and includes features like exchanges, store credit, employee timesheets, selling items by weight, and more.

The top-of-the-line solution is Premium, which costs $99. It too supports an unlimited number of products and has a laundry list of features including appointment booking, gift cards, online ordering, automatic gratuity, and many others.

Keep in mind that any hardware you decide to purchase/lease isn’t included in this basic amount.

In addition to the monthly plan fee, there’s a setup fee of $99 on the Standard and Premium plans. You’ll also be responsible for transaction fees that differ depending on the type of transaction. These are:

• 2.6% + 10 cents per card swipe
• 3.5% + 15 cents for key-in transactions
• 2.9% + 30 cents for online transactions

Applying and Contracts

The process for working with US Bank begins by navigating to the “Merchant Services” page on the website, and clicking “Build your point of sale solution.” On the following page, scroll down to the plan options and click “Learn more” on the one that makes sense for your business.

After reviewing the features, scroll down and select “Continue to select hardware” (or “Continue to application” if you chose the Mobile plan). Once you make your hardware selections, continue to the application.

To apply, you first have to provide your name, email, address, and phone number. Next, you’ll give your employer identification number, social security number, and date of birth. The application asks for business details like the name, year founded, structure, industry, and monthly card sales. After providing some bank details, you can submit the application.

You can also request that a business banker reach out to you, or you can call US Bank directly at 888-919-0502 to discuss your options. US Bank has a month-to-month model, so there's no long-term contracts required.

About US Bank

Founded over 150 years ago, US Bank is one of the largest financial institutions in the country. It offers personal banking, business banking, investing, loans, credit cards, and more. The company has over 75,000 employees, over 3,000 branches, and total assets of around $675 billion.

It has several awards and accolades from a variety of organizations and an A- rating with the Better Business Bureau.

Customer Support

US Bank offers 24/7 customer service to business customers over the phone. You can also email the company or fill out an online form. Getting a response over the phone or via email is quick and easy.

There are some helpful FAQs, as well as some online resources available to help businesses with everything from driving sales to managing cash and even building a brand.

In Conclusion

US Bank provides payment processing and merchant services for those who want flexible payment solutions that can grow with them. It has no contracts or PCI compliance or cancellation fee, and provides additional benefits like fast funding. While the setup fee is high for some of the plans, the around-the-clock customer support and management features make it a great choice for businesses.