With Payment Depot’s membership fees, it indicates that there will be no negotiating, percentage-based mark-ups or rate increases, ever. There are four different and straightforward membership plans for merchants to choose from, the price ranges from $49 + interchange to $199 + interchange, per month. To get started on the application process, merchants can call the company and get two months free or request a quote. All plans come with the following features: rate protection, chargeback and risk monitoring, no hidden fees, no cancellation fees, no IRS fee, and next-day funding. Furthermore, the site boasts that merchants will save up to $400 per month with their wholesome and membership rates.
The first and entry-level membership is the “Basic” which is labeled as being great for new businesses. Its monthly subscription cost is $49 + interchange + 0% + a transaction fee of $0.15 (the transaction fee for this plan is the highest amongst the memberships at Payment Depot). The maximum processing volume limit is $25,000 per month (or up to $120,000 annually). This is the ideal plan for small businesses that are up-and-coming and gradually gaining more volume and consumers.
The second membership is the “Most Popular” and is recommended as the ideal plan for all businesses. Merchants would have a monthly subscription of $79 + interchange + 0% + a transaction fee of $0.10. The maximum monthly processing volume has increased by three times from the prior plan to $75,000 (or up to $480,000 annually). With this membership, it comes with the same features as the “Basic” as well as Data Breach Protection and Premier 24hr Support. It also comes with the free equipment – one of either a Gateway, Terminal or Mobile reader so you get more for this plan.
The next membership would be the “Best Value” which is targeted as being perfect for professional service providers. It costs a little more than the preceding plan with a monthly subscription of $99 + interchange + 0% + a transaction fee of $0.07. However, the maximum processing volume has jumped significantly to $200,000 per month (or up to $1.2 million annually). It offers the same features as a “Most Popular” membership with the addition of a free pin pad.
Lastly, there is the “Premier” membership which has a monthly subscription cost of $199 + interchange + 0% + a transaction fee of $0.05. To justify the price, it includes all the features to scale an Enterprise business and has an unlimited processing volume limit. The features and free equipment mentioned in the previous pricing plan are available with “Premier”, but one notable perk is a free terminal upgrade, every two years.
Merchants can cancel or change their membership plans with no penalties. As noted on the company’s website, Payment Depot is aware that a business’ needs can fluctuate, so they provide the freedom to switch plans at any time.
Alternatively, if none of the plans match the merchant’s requirements, then Payment Depot’s sales team will put together a quote that works for the business and create a custom plan. To utilize this option, merchants can get in touch with the sales team via telephone or email.