As with most of the major merchant account providers you won’t find easy access to any of Cardnet’s fees without getting a quote yourself. We have seen the following fees quotes several although we can’t confirm their accuracy so please only use these as a guide and let us know if you are quoted something different:
- Joining fee: £175
- Minimum monthly charge: £25
- Authorisation fee: 3p per transaction
- Chargeback fee: £15
- Termination: £200
If those fees are accurate then we’re certainly not talking about one of the cheaper providers around. And, while we can’t take those numbers too seriously, it would be a surprise to see a bank like Lloyds offering budget rates on their merchant account services – that’s not the way it works with the banks.
Things are different if you hold a Lloyds Bank Business account, in which case you get a few perks thrown into the mix:
- Fixed rate 1.25% on MasterCard, Visa Credit and Debit cards
- Minimum monthly charge of £15
- Terminal rentals starting at £15
- Terminal rental reduction after 18 months if contract renewed
- No joining fee
- Free online management tool
Those numbers, which came directly from Lloyds, make the previous figures quite believable. And, if that’s the case, those are some pretty good rewards for having a business bank account with Lloyds – something you may want to consider.