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Card processing review

Chase Payment Solutions

Chase's merchant services. QuickAccept, which comes with Chase Business Complete Checking, charges 2.6% + 10¢ in person, 3.5% + 10¢ keyed in and 2.9% + 25¢ online, with no monthly fee and same-day deposits; standalone terminal accounts start at $9.95 a month and their contract terms aren't published.

By JPMorgan ChaseParent company: JPMorgan Chase & Co. (NYSE: JPM)

RTC SCORE

5.0

#11 of 16 with enough data

Our verdict

A published flat rate with no fixed fees and same-day deposits if you bank with Chase through QuickAccept. If an advisor sets you up with a standalone terminal account instead, ask for its fees and contract in writing.

What we like

  • Publishes its rates and QuickAccept's full fee schedule: no monthly, PCI, statement or batch fees.
  • Same-day deposits into your Chase business checking account at no extra cost.
  • QuickAccept's terms have no minimum term or early termination fee, and fee changes come with 30 days' notice.
  • American Express costs the same as other cards.

What to watch

  • QuickAccept only works with a Chase Business Complete Checking account ($15 a month unless waived, for example with $2,000 a month in QuickAccept deposits).
  • The QuickAccept phone line is open weekdays only, not 24/7.
  • The terms and other fees of standalone terminal accounts set up with an advisor aren't published.
  • No dual pricing or surcharge program published.

How the score breaks down

RTC Score5.0out of 10

Methodology v0.1.0

Data completeness98%

We could verify 98% of the scoring data

Strongest points
Standard deposit speed, What leaving in month 12 costs, Published pricing
Weakest point
12-month cost of the reference restaurant

Score by criterion

  • 12-month cost of the reference restaurantWeight 37%Weakest1.3 out of 10

    $10,682 over 12 months

  • Standard deposit speedWeight 11%Strongest10.0 out of 10
  • What leaving in month 12 costsWeight 9%Strongest10.0 out of 10

    $0 to leave in month 12

  • Price increases during the contractWeight 8%7.0 out of 10
  • Published pricingWeight 7%Strongest8.0 out of 10
  • 24/7 supportWeight 6%0.0 out of 10
  • Contract termWeight 4%10.0 out of 10
  • Support channelsWeight 4%5.0 out of 10
  • No equipment lease you can't cancelWeight 3%10.0 out of 10
  • Works with restaurant POS systemsWeight 3%1.7 out of 10
  • Automatic renewalWeight 2%10.0 out of 10
  • Equipment works with another processorWeight 2%No data
  • Offers dual pricing or a surcharge programWeight 2%0.0 out of 10
  • Works without the vendor's own POSWeight 1%10.0 out of 10

Current promotion

  • Discount

    $100Source: Chase (opens in a new tab)
    Conditions
    $100 off the Chase POS Terminal with code POS100 at checkout, for a limited time; Chase publishes no end date. QuickAccept customers only.
    Valid until
    The vendor publishes no end date. We take it down if we can't re-check it within 30 days.

Counts in the RTC Score only if our reference restaurant qualifies.

The switching or signing incentive is one of the criteria with the most weight in the RTC Score. We count a promotion only while it's current, with a fixed published amount and conditions our reference restaurant meets. "Up to" amounts, buyouts of your current contract and unpublished amounts don't count. The cost calculator subtracts one only when your numbers qualify.

Check it with your numbers

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Type of processor and pricing
Data pointValue
Type of processorBankSource: Chase (opens in a new tab)
Pricing modelFlat rateSource: Chase (opens in a new tab)One flat rate per channel for every card; custom pricing, including interchange-plus, by quote for higher volumes.
Published pricing (points out of 100)80Source: Chase (opens in a new tab)Counted: in-person rate 25, online and keyed-in rates 15, monthly fee 20 (QuickAccept $0; standalone accounts from $9.95), early termination fee 10 (QuickAccept's terms have none; the terms of standalone accounts aren't published), other fees 10 (QuickAccept's fee schedule is public; standalone accounts' other fees "may apply").
Card rates
Data pointValue
In-person rate2.6%Source: JPMorgan Chase Bank (opens in a new tab)
In-person fee per transaction10¢Source: JPMorgan Chase Bank (opens in a new tab)
Online rate2.9%Source: JPMorgan Chase Bank (opens in a new tab)
Online fee per transaction25¢Source: JPMorgan Chase Bank (opens in a new tab)
Keyed-in rate3.5%Source: JPMorgan Chase Bank (opens in a new tab)
Keyed-in fee per transaction10¢Source: JPMorgan Chase Bank (opens in a new tab)
American Express pricingSame rate as other cardsSource: Chase (opens in a new tab)
American Express rateN/ASource: Chase (opens in a new tab)American Express costs the same as other cards.
Rates by monthly volumeN/ASource: Chase (opens in a new tab)The same rate at any volume; custom pricing by quote.
Monthly and other fees
Data pointValue
Monthly account or plan fee$0/moSource: Chase (opens in a new tab)QuickAccept, the lowest-cost published plan for the reference restaurant. It needs a Chase Business Complete Checking account ($15 a month unless waived). Standalone terminal accounts start at $9.95 a month.
Annual fee per account$0/yrSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's fee schedule (part of Chase's deposit account agreement) lists only its per-transaction rates. Standalone terminal accounts: not published.
Annual fees per device or location$0/yr per deviceSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's fee schedule (part of Chase's deposit account agreement) lists only its per-transaction rates. Standalone terminal accounts: not published.
PCI compliance fee (yearly)$0/yrSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's fee schedule (part of Chase's deposit account agreement) lists only its per-transaction rates. Standalone terminal accounts: not published.
PCI non-compliance fee (monthly)$0/moSource: Chase (opens in a new tab)QuickAccept's fee schedule has no PCI non-compliance fee; its terms require PCI compliance and pass card network fines on to you.
Statement fee$0/moSource: Chase (opens in a new tab)QuickAccept's fee schedule (part of Chase's deposit account agreement) lists only its per-transaction rates. Standalone terminal accounts: not published.
Monthly minimum$0/moSource: Chase (opens in a new tab)QuickAccept's fee schedule (part of Chase's deposit account agreement) lists only its per-transaction rates. Standalone terminal accounts: not published.
Fee per batch$0Source: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's fee schedule (part of Chase's deposit account agreement) lists only its per-transaction rates. Standalone terminal accounts: not published.
Chargeback fee$0Source: JPMorgan Chase Bank (opens in a new tab)QuickAccept's fee schedule has no chargeback fee, but the transaction fee isn't refunded, Chase can add a fee for mediating chargeback disputes upon notice, and its terms allow extra fees if you have too many chargebacks.
Other feesQuickAccept needs a Chase Business Complete Checking account: $15 a month, waived among other ways with $2,000 or more of QuickAccept deposits that month. Card network fines are passed on to you. Standalone terminal accounts cost from $9.95 a month and their other fees aren't published.Source: JPMorgan Chase Bank (opens in a new tab)
Equipment
Data pointValue
How you get the equipmentYou buy itSource: Chase (opens in a new tab)
Price of a countertop terminal$499 one-timeSource: Chase (opens in a new tab)Chase POS Terminal, a handheld that also works at the counter; $100 off with code POS100 for a limited time. The Chase Wireless Terminal for standalone accounts also costs $499.
Equipment lease you can't cancelNoSource: Chase (opens in a new tab)Chase sells its devices; it publishes no lease.
Equipment lease termN/ASource: Chase (opens in a new tab)No lease is offered.
Equipment at $0 upfront: what it commits you toChase publishes no $0-upfront equipment offer: you buy the card reader ($99) or the Chase POS Terminal ($499), or take payments with Tap to Pay on your phone.Source: Chase (opens in a new tab)
Equipment only works with this processorUnconfirmedSource: Chase (opens in a new tab)Chase doesn't say whether its devices work with another processor.
Getting your money
Data pointValue
Standard deposit speedSame daySource: Chase (opens in a new tab)QuickAccept deposits the same night (payments approved by 5 p.m. PT, Sunday through Friday; Saturday's arrive Sunday morning), only into Chase Business Complete Checking. Standalone terminal accounts: next-day funding into Chase checking.
Instant payout feeUnconfirmedSource: Chase (opens in a new tab)Chase publishes no instant payout; its same-day deposits cost nothing extra.
Holds and reservesChase can delay or limit deposits based on your risk and history, hold funds during an investigation or when it expects chargebacks, and require a reserve that earns no interest. If QuickAccept ends, you must keep your Chase account open for at least 180 days.Source: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)
Contract and exit
Data pointValue
Contract termMonth to monthSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept is a feature of your Chase business checking account and its terms set no minimum term. Standalone terminal accounts set up with an advisor have terms Chase doesn't publish.
Automatic renewalMonth to monthSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)No term, so nothing renews.
Notice to avoid renewalN/ASource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)No term to renew.
Notice to cancelUnconfirmedSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's terms set no notice period for you to stop; they ask you to keep your Chase account open at least 180 days after the service ends.
Early termination feeNone in QuickAccept's terms: you only owe fees already accrued. Standalone terminal accounts: not published.Source: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)
How the early termination fee is calculatedNo early termination feeSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept: you only owe fees already accrued. Standalone terminal accounts set up with an advisor: not published.
Liquidated damages clauseNoSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's terms have no liquidated damages clause.
Price increases during the contractWith notice, and you can leave without a feeSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)30 days' notice of any fee change; QuickAccept has no term or early termination fee, so you can stop using it.
Right to raise pricesChase can change QuickAccept's fees with 30 days' notice; using the service after that means you accept them.Source: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)
Personal guarantee by the signerNoSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's terms have no personal guarantee clause.
Dual pricing and surcharges
Data pointValue
Dual pricing or surcharge programNoSource: Chase (opens in a new tab)Chase's merchant pages and QuickAccept's fee schedule publish no dual pricing, surcharge or cash discount program.
Cards the program coversN/ASource: Chase (opens in a new tab)No program published.
Monthly fee for the programN/ASource: Chase (opens in a new tab)No program published.
Your POS and your business
Data pointValue
Works with these restaurant POSOthersSource: Chase (opens in a new tab)Chase supports TouchBistro (restaurants), NCR Voyix Silver Essentials and the Authorize.net gateway, and sells its own Chase POS.
Requires the vendor's own POSNoSource: Chase (opens in a new tab)Works with TouchBistro and with standalone terminals.
Monthly volume it's built forUnconfirmedSource: Chase (opens in a new tab)No minimum volume published.
Accepts high-risk businessesUnconfirmedSource: JPMorgan Chase Bank (opens in a new tab)Chase doesn't publish whether it takes high-risk businesses; QuickAccept isn't available to all businesses.
Routes debit to the lowest-cost networkUnconfirmedSource: Chase (opens in a new tab)Not published.
Support
Data pointValue
24/7 support for merchantsNoSource: Chase (opens in a new tab)The QuickAccept and Payment Solutions phone line is open weekdays; Chase's self-service help center is online 24/7.
Support channelsPhoneSource: Chase (opens in a new tab)
Language
Data pointValue
Support in SpanishUnconfirmedSource: Chase (opens in a new tab)Chase publishes QuickAccept's page and terms in Spanish but doesn't say its merchant phone line serves Spanish.
Merchant dashboard in SpanishUnconfirmedSource: Chase (opens in a new tab)Not documented for merchant tools.
Contract or terms in SpanishYesSource: Paymentech, WePay and JPMorgan Chase Bank (opens in a new tab)QuickAccept's terms are offered in Spanish as a courtesy; if the two versions differ, the English one prevails.
US website in SpanishYesSource: Chase (opens in a new tab)

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