Wholesale Merchant Accounts

Wholesale Merchant Accounts are categorized by merchants who sell business to business products and services in larger than average quantities.  The cards that are processed through wholesale merchant accounts are primarily corporate cards, business cards, and government cards.  These type of cards represent an increased cost to the card processors due to the fact that businesses and governments most often do not carry balances on credit cards and as a result the card companies do not earn the interest they normally would. To make up for this lost revenue, the card companies charge higher fees to the processor and the merchant.  In addition to the higher priced cards, wholesale merchant accounts have very large transaction sizes and that in itself represents a much higher risk to the credit card processors and banks. 

Due to these facts most banks and processors will not board these merchant accounts or charge exorbitant fees to do so.  To top that off many merchant service providers will sign wholesale merchant accounts without actually informing the bank of the high ticket business to business card activity and without notifying the merchant of the increased fees they will incur.  This practice causes major problems such as delayed and denied funds resulting in ACH rejects and bounced checks because the merchant wrote checks against funds which never hit his account.  Not to mention the shock to the merchant when he finds out he paid as high as 5% instead of the 1.5% he was incorrectly quoted. 

1st National specializes in Wholesale Merchant Accounts.  Our Class A banks and processors have extremely efficient, effective and very qualified underwriting and risk management departments.  They work together to ensure the wholesale merchant account is set up correctly with regards to monthly volumes, transaction sizes and card types.  This protects the merchant from having any issues with delayed funds due to irregular unexpected activity.  Furthermore, the fact that 1st National is proficient in handling wholesale merchant accounts reduces our risk significantly.  This reduced risk allows us to board any account, not matter what the size, at the most competitive rates in the industry. 

Wholesale Merchant Accounts can be set up as either swipe, non swipe or both depending on the needs of the merchant.  Wholesale merchant account rates start at 1.45% and enable merchants to accept Visa, Master Card, American Express and Discover Credit Cards as well as all debit cards and check cards and can also add other point of sale merchant services such as check guarantee, gift cards, value cards, and loyalty cards.   American Express wholesale merchant account rates range from 2.55%-3.5% depending on the annual volume and average transaction size.  For wholesale merchants using a credit card terminal, virtual terminal or internet gateway there is little or “No Start-Up Costs” and the account can be live and active in less than 24 hours. Wholesale merchant accounts typically carry a flat monthly fee of $6.00 per month, no monthly minimum and no annual fee.  For qualified merchants 1st National also offers hair salon merchant accounts with a free terminal program and interchange pass through for high volume locations, franchises and associations. 

Please contact us today to apply for a Wholesale Merchant Account with 1st National Processing Merchant Services. Toll Free 877-964-1622 or Apply for a Wholesale Merchant Account On Line.