How is Helcim compared to Wells Fargo?
Helcim vs Wells Fargo pricing and fees.
Helcim
Wells Fargo
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 Wells Fargo pricing and fees.
Helcim
Wells Fargo Merchant Services
Pricing model
Interchange-plus pricing
Tiered pricing
Monthly costs
$0
$9.95 - $24.95 (depending on POS providers and payment tools)
In-person payment processing fees
1.83% + 8¢ average*
$0 - $39,999.99: 2.60% + 15¢
$40,000 - $79,999.99: 2.50% + 15¢
$80,000 & up: 2.40% + 15¢
Online payment processing fees
2.27% + 25¢ average*
$0 - $39,999.99: 3.50% + 15¢
$40,000 - $79,999.99: 3.40% + 15¢
$80,000 & up: 3.30% + 15¢
ACH processing fees
0.5% + 25¢ for transaction below $25,000 (fees capped at $6)
Not publicly listed
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
Clover Go (card reader): $199
Clover Compact (countertop terminal): $349
Clover Flex (smart terminal): $749
Clover Mini (countertop pos): $849
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
If your business uses hardware that isn't in the merchant account plan, you may need to pay additional fees
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 Wells Fargo 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.
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Helcim vs Wells Fargo Merchant Services: Pros and cons.
Helcim uses interchange-plus pricing with automatic volume discounts, which is often more cost-effective than traditional bank merchant service pricing for growing businesses.
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.
Helcim offers more volume-based discounts, with reduced rates available even for businesses processing $100K+, $500K+, or $1M+ per month. In contrast, Wells Fargo Merchant Services’ volume discounts typically top out at around $80K+ in monthly processing volume.
Some businesses may prefer working directly with a large bank like Wells Fargo Merchant Services.
Wells Fargo Merchant Services may attract businesses that already have a bank account with Wells Fargo.
Wells Fargo Merchant Services offers a diverse range of POS card terminals and registers through its partnership with Clover.
Wells Fargo Merchant Services' credit card processing fees are around 30% to 45% higher than Helcim's average credit card processing fees, even with discounted rates.
Because Wells Fargo Merchant Services partners with Clover for POS hardware, merchants may pay additional fees if they need hardware or accessories that are not included in their merchant account plan.
Wells Fargo Merchant Services partners with Clover for in-person payments and Authorize.Net for online payments. Businesses that want both in-person and online solutions may need to work with two providers, which can increase total monthly costs.
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Frequently asked questions.
