How is Helcim compared to Bank of America?
Helcim vs Bank of America pricing and fees.
Helcim
Bank of America
Helcim uses an interchange-plus pricing model that passes the true transaction fees charged by banks and payment networks to merchants. These true fees vary every transaction. Average fees are based on common credit cards, excluding American Express, and an average transaction amount of $300.
Helcim vs Bank of America pricing and fees.
Helcim
Bank of America Merchant Services
Pricing model
Interchange-plus pricing
Flat-rate pricing
Monthly costs
$0
Not publicly listed
In-person payment processing fees
1.83% + 8¢ average*
2.65% + 10¢
Online payment processing fees
2.27% + 25¢ average*
eCommerce: 2.99% + 30¢
Keyed in: 3.50% + 15¢
ACH processing fees
0.5% + 25¢ for transaction below $25,000 (fees capped at $6)
Unavailable
Volume Discounts
Up to 70% discount
Invoice Management
POS Solution
Recurring Payments
Virtual Terminal
Inventory Management
API Solution
Hosted Payments Pages
POS Hardware costs
Helcim Card Reader
Helcim Smart Terminal
PIN Pad SP30: $229
Countertop A80: $359
Portable A920: $529
Smart Terminal E700: $1129
Smart Register E800: $1439
Chargeback fees
Additional fees and charges
Extra 0.4% per transaction when using Recurring Payments
Extra 10¢ per transaction when using Tap to Pay on iPhone
Bank of America requires a monthly service plan for its Point of Sale (POS) software, with specific fees not explicitly published online
PCI compliance fees
Helcim uses an interchange-plus pricing model that passes the true transaction fees charged by banks and payment networks to merchants. These true fees vary every transaction. Average fees are based on common credit cards, excluding American Express, and an average transaction amount of $300.
How much do Helcim merchants pay compared to Bank of America Merchant Services?
In-person
Keyed & Online
Estimated savings at $40,000 Monthly Volume
Helcim’s displayed fees are estimated averages based on $40,000 in monthly processing volume and an average transaction size of $300. The average fees account for standard credit cards, but do not include American Express. Helcim’s interchange-plus pricing passes through the actual interchange and network fees charged by issuing banks and card networks. Since these underlying fees can vary by transaction, Helcim processing fees vary.
Does it feel too good to be true?
Still considering? Get a personalized saving estimate.
Upload your statement
Upload a recent statement from your current provider, and we'll compare it to our rates.
Use the comparison tool
Prefer DIY? Use our online comparison tool to check your rates and calculate your savings.
Helcim vs Bank of America Merchant Services: Pros and cons.
Helcim uses interchange-plus pricing, which can be cheaper than Bank of America Merchant Services’ flat-rate pricing for businesses with higher transaction volume.
Helcim offers automatic volume discounts to all merchants. It reduce payment processing fees as a merchant’s processing volume increases.
Helcim provides essential in-person and online payment tools for multiple industries such as invoicing, payment links, recurring billing, a virtual terminal, hosted payment pages, and POS software at no monthly cost.
Some businesses may prefer working directly with a large bank like Bank of America.
Helcim doesn't offer POS register
Bank of America Merchant Services may attract businesses that already have a bank account with Bank of America.
Bank of America Merchant Services offers POS registers, which can be useful for food and beverage businesses or retail stores.
Bank of America Merchant Services may involve monthly POS software fees that are not published on its website.
Bank of America Merchant Services only offers volume discounts to businesses enrolled in Preferred Rewards for Business and that meet other specific conditions.
PIN debit card transactions are not supported with some Bank of America Merchant Services POS solutions.
Save even more on payment processing fees.
Payment hardware that
matches how you do business.
Discover why
businesses love Helcim.
Frequently asked questions.
