♦Set up fee: None!
♦Annual fee: None, but agents can charge annual fee
♦Monthly fee: $7.95
♦Monthly Minimum: $25
♦PCI compliance fee: $99
♦Non-PCI compliance fee: $19.95 per month
♦Early termination fee: None
♦Swipe rates: list rates as low as 0.38%
♦Keyed-in rates: Not listed
♦Mobile swipe fee: Not listed
Okay, so let’s break these down. The no set up fee is always a good thing as it’s usually only a profit maker for the processor and or agent. The zero annual fee is the way it should be, just be careful if you’re dealing with an agent that wants to charge this fee. Monthly fee is set at $7.95 and is reasonable and pretty standard in the industry. We like to see a no monthly minimum on merchant accounts because it’s usually a profit generator for lower volume accounts. The PCI annual compliance fee is on the high end of the spectrum as we see them anywhere from $39-$99 so we would recommend to see if you could negotiate this fee down. We really don’t like the pci non-compliance fee at all but most processors are charging this fee, just remember to fill out your SAQ form once per year and this can be avoided. Flagship now has a no cancel or early termination fee which does show they’re working hard at earning their customers business one month at a time which we do give high marks for. Now the swipe rates are a bit suspicious because when all you see is the one fee listed, it indicates that this is for your offline debit transactions and not your qualified, mid-qualified or non-qualified charges. Note that there are very few qualified cards in the marketplace and most are downgraded to mid or non-qualified charges and this is where you see the real profit for most processors. Since the keyed-in and mobile swipe rates aren’t listed, we assume it’s a marketing ploy to get you to call in to find out. We do like the fact that interchange-plus pricing is available and something you should always ask for with any provider. If you are not satisfied with Flagship for any reason or you’d just like to work with a processor that has transparent interchange-plus pricing along with month-to-month agreement, no cancel fee and no pci compliance fee, we suggest you check out one our premier providers CDGcommerce. For an overall rating on rates and fees, we give this provider a 9/10 rating.