Yep, it really depends on your volume. Stripe has a higher percentage rate per transaction, but no monthly fee. While Lynnbrook has a lower rate per transaction but has a monthly fee. If you're doing more than 20k/yr or so it usually pencils out in favor of Lynnbrook even after the monthly fee.
Has anyone used NationalBankCard.com?
Has anyone had any experience with Lynnbrook or Costco handling chargebacks?
In talking to Costco, the pricing is as follows:
1.99% + $0.25/transaction
Application fee ($25) and monthly stmt fee ($5) are waived for executive members
But to process online requires a gateway, they use Converge, $149 set up and $5/mo
The will connect for free set up to other gateways, but those seem expensive, too.
How does Lynnbrook compare? Do all set ups require the set up fee and monthly fees?
BlueMtnCabins said:Fractionally it is, but whether it is worth switching. to me wasn't worth a hassle
@BlueMtnCabins and @Sheron Scurlock - I am still trying to figure out the additional fees on Stripe for international and currency exchanges. Have you had any experience with these? And do you know if Lynnbrook has them as well? Since my property is in Florida, international transactions are not uncommon.
anyone know how much stripe charges per authorization?
How is this working out for you ? I know this is a old post- we have Stripe but are looking for another solution.
I see I posted here in late 2019. I checked several choices and part of who is the best processor depends on your volume and frequency of charges. For me, a mid-range volume, under $100k, Elavon was best (via Costco, apparently Elavon not via Costco has different terms.). If you go through Elavon/Costco, I am happy to refer you ($100 Costco card for you and me.) My contact. is Trevious.Grier@Elavon.com and is great.
Other people like Bambora, Lynnbrook, Ascent, etc. But you'd need to check terms.
What kind of rates do they have through Costco now? Have any of the setup / monthly fees changed?
I average around 2.4% with all fees monthly.....I don't know if they have a set up fee currently.