Wells Fargo Merchant Services Review

Rates and Fees
Truth in Advertising
Consumer Reviews
Customer Support

Best for

Small businesses, businesses with low volume/low annual transactions, mom and pop businesses, restaurants.

Specializes in

Wells Fargo Merchant Services, associated with the well-known Wells Fargo Bank, specializes in smaller businesses and stores that do less than $500,000 annually in sales. This service has several benefits for those who also use Wells Fargo to do their banking.

Pricing Summary

Setup Fee: $0

Monthly Fee: $9.95

Swipe Rate: 2.60% + $0.15

Keyed-in Rate: 3.40% + $0.15

Early Termination Fee : $500+

Contract Terms:

3 Years
Visit Wells Fargo Merchant Services

Wells Fargo Bank was founded in 1852, but the merchant services division is far more recent. That was started in 1971, and First Data is the processor behind WFMS. Some 100 odd employees are used in this division, whereas Wells Fargo has over 200,000 employees on its payroll. Its merchant services division mainly caters to mom and pop and small businesses. Its headquarters is in San Francisco, California.

Wells Fargo Merchant Services Overview


Wells Fargo is a well-known bank that is one of the largest and oldest banking institutions in the United States. While having a massive size, a tremendous amount of branches and workers, and a ridiculous total asset value, Wells Fargo has been involved in several recent lawsuits and controversial behavior in the past decade or two. Hence, its reputation is on the lower side. Its Merchant Services division is mainly focused on small businesses. Still, the actual bank itself deals with almost any level of transaction or financial institution--personal accounts, business accounts, other banks, and more. Its pricing model is based on a three-year agreement, with a generic swipe and key-in rate that goes off a percentage plus a small fee.

Quick Facts

Head Quarters

San Francisco, CA

Year Founded



Charles Scharf



Merchant Provider Risk Tolerance

What We Like

Works with smaller businesses and stores that do less than $500,000 in sales.

No setup fee.

Has robust security features.

Extended support is available to its merchants.

Offers a contactless payment option.

What We Don't Like

Monthly fee.

Early termination fee.

Three year contract.

All fees are not transparent.

Employs outside sales agents.

Industries Served

  • Accounting & Tax Prep
  • Clothing & Apparel
  • Convenience Store
  • Education
  • Educational Seminars
  • Electronics
  • Healthcare
  • Hunting & Outdoor Equipment
  • Marketing Agency
  • Personal Service
  • Property Management
  • Restaurant / Bar
  • SAAS
  • SEO & SEM Services
  • Thrift Store
  • Travel

Business Types Served

  • Ecommerce
  • High Volume
  • Information
  • Low Risk
  • MLM
  • Mom & Pop
  • MOTO
  • Online
  • Retail / Card Present
  • Small Business

Wells Fargo Merchant Services Products & Services


Point 1: Credit and Debit Processing, Contactless Payment


Wells Fargo Merchant Services offers debit and credit card processing, but recently as of COVID-19, it has also started to offer Contactless Payment. The fast funding feature of WFMS means that the funds in the merchant's account can be available as quickly as the very next day. Other processors sometimes take several days to credit a merchant's account with a transaction fully. Some businesses may find this type of processing to suit their company better.

Point 2: All-In-One POS System, Mobile Payment Types


WFMS also offers an all-in-one POS system via Clover. There are a variety of different terminals, card readers, and other devices to choose from to process the payment. Some are better than others, but the number of choices means a merchant can choose which fits their business the best. In addition to this, mobile payment support is offered, so things like Apple Pay, Google Pay, Samsung Pay, and more are usable in a business with WFMS.

Point 3: EMV Chip Card Technology

Wells Fargo also offers EMV Chip Card technology, a far safer and more secure way of processing payments for consumers. EMV Chip technology makes it so that the information is changed with each transaction. This makes fraud incredibly difficult to pull off and safeguards any kind of data or card detail theft that could occur. 

Wells Fargo Merchant Services Payment Processing

  • Credit Card Processing
  • Credit Card Terminals
  • Debit Card Processing
  • EMV Processing
  • Mobile Payments App
  • Online Payments
  • Payment Gateway
  • POS Equipment
  • Virtual Terminal

Wells Fargo Merchant Services Billing & Invoicing

  • Mobile Payments
  • Online Invoicing
  • Online Payments

Wells Fargo Merchant Services Advertising & Sales

WFMS advertises and sells its services through the use of outside sales agents. These agents are fully employed and are not independent contractors, which is what many merchant account providers use. Some merchants have complained about deceptive sales tactics or the nondisclosure of essential contract items by these sales agents. Wells Fargo also uses its physical banking branches to offer merchants its processing services. Some merchants also complain about hidden fees that seem to randomly appear from Wells Fargo Merchant Services.

Truth in Marketing

Discloses All Important Terms


Public Pricing Available


Wells Fargo Merchant Services Pricing, Rates & Fees


The pricing for the services is on the higher end, but it is not always clearly available. Some digging generally has to be done to find the rates. Wells Fargo Merchant Services charges 2.60%+$0.15 for a swiped card and 3.40%+$0.15 for a keyed-in card. Its virtual terminal rate falls between 1% and 5%. It has a $9.95 monthly fee, or a $24.95 monthly fee if you are an eCommerce business. Its PCI Compliance fee is not disclosed.

Pricing at a Glance

Pricing Model

Interchange PlusFlat Rate

Swiped Rate

2.60% + $0.15

Keyed-in Rate

3.40% + $0.15

Mobile Payment Rate

Virtual Terminal Rate

1.00% - 4.99%

Monthly Fee


Payment Gateway Fee


Batch Fee

Early Termination Fee


PCI Compliance Fee


Equipment Lease Terms

48 Months, (locked)

Address Verification Service (AVS)

Application Fee

Account Setup Fee


Gateway Setup Fee

Annual Fee

Monthly Minimum

$9.95 in-person; $24.95 online

Statement Fee

Wells Fargo Merchant Services Contract & Terms

Wells Fargo Merchant Services offers a three-year standard contract, generally. Its early termination fee is noticeably high and has been the subject of more than one complaint, with the fee ringing in at $500 if the merchant has processed under $1,000,000 and $500 plus the merchant's most expensive month times six if they have processed over $1,000,000. All of these fees are per location, so this can add up very fast. Some of the terms of the contract are subject to change, which has also been the subject of merchants' complaints.

Contract Length

3 Years

Early Termination Fee


Wells Fargo Merchant Services Setup & Support


Setup Highlights

  • Documentation / Knowledge Base

Support Highlights

  • Domestic Phone Support (Business Hours)
  • Offshore Tech Support (After Hours)

Wells Fargo Merchant Services Complaints, Ratings & Reviews

Wells Fargo has been involved in several lawsuits in just the past decade alone, and some of them were class-action. It has been involved in cases of fraud and other suspected criminal activity. Thus, its Merchant Services division is also subject to some of this legal action and has had many complaints. 

Specifically, merchants complain of jacked-up rates, poor customer service, and mark-ups on specific fees. As of August 2017, Wells-Fargo is involved in a class-action lawsuit involving these accusations. It has merchants sign contracts they don't understand and proceed to jack-up rates in a very predatory manner. The case is unresolved.



F (3,247 complaints)






1.5 Stars / 4 Reviews


Total Online Reviews


Total Online Complaints




Wells Fargo Merchant Services Alternatives


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