Best for
Retail, Petroleum, Retail, MOTO, Travel, High risk.
Specializes in
Card processing, E-commerce solutions, Marketing Analytics. Gift and Loyalty.
Pricing Summary
Setup Fee: Varies
Monthly Fee: Varies
Swipe Rate: 2.5% + $0.20
Keyed-in Rate: 3.5% + $0.20
Early Termination Fee : 1% of Total Volume.
Contract Terms:
Merrick Bank Corporation is a debt consolidation and credit card settlement company. It is a subsidiary of the Cardwork Incorporation and has been in existence for more than two decades.
Merrick Bank Corporation specializes in debt settlement, clearing of payments, and credit card settlements and transactions.
MBC came into inception in 1997, and it is related to a lot of similar merchant service provider companies. It is a subdivision of Cardwork Inc. TSYS is responsible for its backend network operations, and marketing of services is through ISOs and other independent agents.
A lot of people mistake MBC as a bank because of its name. But MBC does not operate as a direct processor like other banks or companies in the banking industry.
Head Quarters
10705 S Jordan Gtwy, Ste 200, South Jordan, Utah 84095
Year Founded
1997
CEO
Richard P. Lake
Employees
267
Merchant Provider Risk Tolerance
Public pricing available.
Has a gift and loyalty program.
Performs marketing analytics.
Provides ecommerce solutions.
Works with hi
Has a setup fee.
A monthly fee is assessed.
Early termination fee applies.
Three year contract required.
Does not disclose all important terms.
MBC offers numerous products and services listed on their official website.
With GoScore, you will understand how credit decisions affect your FICO score.
GoPaperless will give you seamless access to your account balance.
GoMobile will allow effective account management with the MBC mobile application so that you can be in control of your account with your phone.
GoLearn will provide you with financial knowledge.
Some additional benefits from the company include:
Discloses All Important Terms
No
Public Pricing Available
Yes
One of the major issues with MBC pricing and fee is variability. This is because they partner with a lot of organizations that dictate fees and even the terms of contract.
Since TSYS is a partner that MBC largely relies on, especially for backend processing, their rates are relevant, and the company will want to associate with it. So we will review TSYS fees.
TSYS swipe rate is 2.5% in addition to $0.2 on every transaction, while the keyed-in rate is 3.5% with $0.2 on every transaction.
There is a termination fee of 1% of the total money, and finally a PCI compliance charge of $75.2 every year, payable as $18.8 quarterly.
Signature Card Services, another notable independent organization that sells MBC service, offers a 3-year contract without an early termination fee but with a liquidated damage charge of 1% of the amount payable.
However, you have to cancel your contract before the final three months, if not, it will automatically renew for another 3 years.
This just describes the many variabilities of MBC pricing and fees.
Pricing Model
Tiered Pricing
Swiped Rate
2.5% + $0.20
Keyed-in Rate
3.5% + $0.20
Mobile Payment Rate
Virtual Terminal Rate
Monthly Fee
Varies
Payment Gateway Fee
Batch Fee
Early Termination Fee
1% of Total Volume.
PCI Compliance Fee
Equipment Lease Terms
Address Verification Service (AVS)
Application Fee
Account Setup Fee
Varies
Gateway Setup Fee
Annual Fee
Monthly Minimum
Statement Fee
MBC offers a 3-year contract, and the terms depend on the organization you are opening an account with, the type of merchant account you are opening, and your business time.
It is important that you have an idea of a lot of ISOs contracts so that you can choose the one that best suits you.
Contract Length
3 Years
Early Termination Fee
1% of Total Volume.
MBC has a total of 382 complaints on the BBB complaints log. The breakdown of this include the following:
Of these complaints, MBC completely resolved 77 complaints while 305 were unaccounted for, which means that, there was no final response from the merchants of they were not satisfied with how the company handled the complaint.
Merrick Bank has an A+ rating on BBB and it has been accredited on the platform since 2012.
BBB
A+
Yelp
Total Online Reviews
10+
Total Online Complaints
382
Lawsuits
N/A
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks