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Card processing review

U.S. Bank Payment Solutions (Elavon)

U.S. Bank's merchant services, processed by its subsidiary Elavon: 2.60% + 12¢ in person, 3.30% + 30¢ online and 3.50% + 15¢ keyed in for accounts opened online, POS plans from $0 a month and deposits within hours into a U.S. Bank checking account. Restaurant POS plans are set up with a specialist, and for those accounts U.S. Bank says rates may vary and other fees may apply. Elavon publishes $0 early termination fees, though its terms set a 3-year term.

By U.S. BankParent company: U.S. Bancorp (NYSE: USB)

RTC SCORE

7.1

#5 of 16 with enough data

Our verdict

Published flat rates for accounts opened online, few fixed fees and fast deposits if you bank with U.S. Bank, plus a surcharge program. Read the term before you sign: the contract runs 3 years with no early exit right, even though Elavon publishes a $0 early termination fee; for a restaurant POS plan, ask for the rates and fees in writing.

What we like

  • Deposits within hours, seven days a week, at no extra cost with a U.S. Bank business checking account.
  • Elavon publishes $0 annual, batch, additional authorization and early termination fees.
  • 24/7 phone support.
  • An official credit card surcharge program, for credit cards only and not in every state.
  • Optional debit routing to lower-cost networks.

What to watch

  • Its Terms of Service set a 3-year term that renews for 2 years unless you give notice 30 days before it ends, even though U.S. Bank's POS page says its plans carry no long-term commitment.
  • The published rates and fees are for accounts opened online; the POS plans for restaurants are set up with a specialist, and U.S. Bank says their rates may vary and other fees may apply.
  • Fee changes take effect upon notice, and card network increases can be passed on.
  • In the surcharge program, debit is billed on tiered pricing that Elavon doesn't publish.
  • Chargeback and PCI non-compliance fees aren't published, nor are PCI and statement fees for the POS plans, and countertop POS hardware is priced by quote.
  • The signer gives a personal guaranty in the application.

How the score breaks down

RTC Score7.1out of 10

Methodology v0.1.0

Data completeness98%

We could verify 98% of the scoring data

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

Score by criterion

  • 12-month cost of the reference restaurantWeight 37%StrongestWeakest7.4 out of 10

    $4,621 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%0.0 out of 10
  • Published pricingWeight 7%9.0 out of 10
  • 24/7 supportWeight 6%10.0 out of 10
  • Contract termWeight 4%2.5 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%2.5 out of 10
  • Equipment works with another processorWeight 2%No data
  • Offers dual pricing or a surcharge programWeight 2%10.0 out of 10
  • Works without the vendor's own POSWeight 1%10.0 out of 10

Before you pass the card fee to your customers

This vendor offers a program that passes the card cost to your customers. Card network rules cap credit card surcharges (Visa 3%, Mastercard 4%) and never allow them on debit, and some states ban or limit them.

This is general information, not legal advice. Card network rules and state laws change, and how they apply depends on your business: check with a lawyer and with your processor before adding a surcharge or a cash discount.

See the rules by state

Current promotion

  • Signing bonus

    $400Source: U.S. Bank (opens in a new tab)
    Conditions
    A $400 statement credit for a new U.S. Bank Payment Solutions account opened between September 28, 2026 and January 13, 2027 that settles at least $5,000 within 60 days of approval; it's applied within 60 days after reaching $5,000 if the account is open and in good standing. Not for merchants already processing with U.S. Bank or Elavon; some business types are excluded; one per merchant ID.
    What you need to qualify
    • An average of at least $2,500 a month in card sales over the first 2 months
    Valid until

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: U.S. Bank (opens in a new tab)
Pricing modelFlat rateSource: U.S. Bank (opens in a new tab)Flat rates for accounts opened online; Elavon also sells interchange-plus pricing by quote. Our cost uses the accounts opened online: the POS plans for restaurants are set up with a specialist, and U.S. Bank says their rates may vary and other fees may apply.
Published pricing (points out of 100)90Source: U.S. Bank (opens in a new tab)Counted: in-person rate 25, online and keyed-in rates 15, POS plan fees 20, early termination fee 20 (Elavon publishes $0), other fees 10 (annual, batch and extra authorization fees published at $0; PCI and statement fees only listed for accounts opened online; chargeback and PCI non-compliance fees not published).
Card rates
Data pointValue
In-person rate2.6%Source: U.S. Bank (opens in a new tab)
In-person fee per transaction12¢Source: U.S. Bank (opens in a new tab)
Online rate3.3%Source: U.S. Bank (opens in a new tab)
Online fee per transaction30¢Source: U.S. Bank (opens in a new tab)
Keyed-in rate3.5%Source: U.S. Bank (opens in a new tab)
Keyed-in fee per transaction15¢Source: U.S. Bank (opens in a new tab)
American Express pricingSame rate as other cardsSource: U.S. Bank (opens in a new tab)The published rates depend only on how the card is taken; American Express is accepted.
American Express rateN/ASource: U.S. Bank (opens in a new tab)American Express costs the same as other cards.
Rates by monthly volumeN/ASource: Elavon (opens in a new tab)The same rate at any volume for accounts opened online; interchange-plus by quote.
Monthly and other fees
Data pointValue
Monthly account or plan fee$0/moSource: U.S. Bank (opens in a new tab)Mobile POS plan (first card reader $49). POS plans: Starter $29, Standard $69 and Premium $99 a month.
Annual fee per account$0/yrSource: Elavon (opens in a new tab)
Annual fees per device or location$0/yr per deviceSource: Elavon (opens in a new tab)No annual fee per device or location published either.
PCI compliance fee (yearly)Not publishedSource: U.S. Bank (opens in a new tab)Not published for the POS plans set up with a specialist (Starter, Standard and Premium, the ones for restaurants): U.S. Bank says other fees may apply to accounts not opened online. For accounts opened online (Mobile POS and smart terminal) it lists only transaction, hardware and sales tax fees, so our cost counts $0 on that plan.
PCI non-compliance fee (monthly)Not publishedSource: U.S. Bank (opens in a new tab)Not published.
Statement feeNot publishedSource: U.S. Bank (opens in a new tab)Not published for the POS plans set up with a specialist (Starter, Standard and Premium, the ones for restaurants): U.S. Bank says other fees may apply to accounts not opened online. For accounts opened online (Mobile POS and smart terminal) it lists only transaction, hardware and sales tax fees, so our cost counts $0 on that plan.
Monthly minimumNot publishedSource: U.S. Bank (opens in a new tab)Not published.
Fee per batch$0Source: Elavon (opens in a new tab)Elavon publishes $0 batch and $0 additional authorization fees.
Chargeback feeNot publishedSource: Elavon (opens in a new tab)Elavon doesn't publish a chargeback fee.
Other fees$0 annual, batch and additional authorization fees (Elavon). POS plans: $29 a month for each additional software license and a one-time $99 setup fee on Standard and Premium. The optional Debit Optimization service adds a per-transaction fee. Elavon can pass on card network fee increases.Source: Elavon (opens in a new tab)
Equipment
Data pointValue
How you get the equipmentYou buy it, Monthly rental you can endSource: U.S. Bank (opens in a new tab)The smart terminal can be bought or rented; U.S. Bank also mentions leasing options for other hardware without publishing their terms.
Price of a countertop terminal$449 one-timeSource: U.S. Bank (opens in a new tab)Handheld smart terminal with a built-in printer; countertop POS hardware is priced by quote.
Equipment lease you can't cancelNoSource: Elavon (opens in a new tab)Rented equipment goes back when you close the account and stops billing once returned; no non-cancelable lease is published.
Equipment lease termN/ASource: U.S. Bank (opens in a new tab)The rental is a short-term commitment; no lease term is published.
Equipment at $0 upfront: what it commits you toNo $0-upfront offer published: the smart terminal costs $449 or $15 a month to rent, billed until you return it; the first card reader costs $49 when you apply online.Source: U.S. Bank (opens in a new tab)
Equipment only works with this processorUnconfirmedSource: U.S. Bank (opens in a new tab)U.S. Bank and Elavon don't say whether their devices work with another processor.
Getting your money
Data pointValue
Standard deposit speedSame daySource: U.S. Bank (opens in a new tab)Everyday Funding, with a U.S. Bank business checking account (activation takes 3 to 5 business days). Without it, Elavon says funding takes 1 to 3 business days.
Instant payout feeUnconfirmedSource: U.S. Bank (opens in a new tab)No instant payout published; Everyday Funding costs nothing extra.
Holds and reservesElavon can open a reserve account at any time and fund it from your deposits or your bank account, and it can cap your processing volume. After you leave, it can hold funds for chargebacks and you must keep enough money in your account for 180 days.Source: Elavon (opens in a new tab)
Contract and exit
Data pointValue
Contract term36 monthsSource: Elavon (opens in a new tab)Elavon's Terms of Service, which govern U.S. Bank Payment Solutions, set a 3-year initial term, even though U.S. Bank's POS page says its plans carry no long-term commitment, its smart terminal page says "Short-term commitment" and Elavon publishes $0 early termination fees. The terms give you no early exit right: you leave at the end of a term with written notice, for an uncured material breach by Elavon or for force majeure; Elavon can end the agreement at any time.
Automatic renewal24 monthsSource: Elavon (opens in a new tab)
Notice to avoid renewal30 daysSource: Elavon (opens in a new tab)
Notice to cancel30 daysSource: Elavon (opens in a new tab)Written notice on Elavon's form, signed by the owners, at least 30 days before the term ends; closing the account can take up to 30 days.
Early termination fee$0, as published on Elavon's pricing page. Its terms still set a 3-year term that renews for 2 years unless you give written notice at least 30 days before it ends, and they don't give you a right to leave early; the application you sign isn't public.Source: Elavon (opens in a new tab)
How the early termination fee is calculatedNo early termination feeSource: Elavon (opens in a new tab)Elavon's pricing page publishes $0; its Terms of Service have no early termination fee but also no early exit right for you, and the application you sign isn't public.
Liquidated damages clauseNoSource: Elavon (opens in a new tab)No early termination fee or liquidated damages published.
Price increases during the contractAt any timeSource: Elavon (opens in a new tab)Fee changes take effect upon notice, and Elavon can pass on card network fee increases (Terms of Service §17.12). It publishes $0 early termination fees.
Right to raise pricesFee changes take effect upon notice unless a later date is given, and Elavon can pass on fee increases from card networks and other third parties (§17.12).Source: Elavon (opens in a new tab)
Personal guarantee by the signerYesSource: Elavon (opens in a new tab)Elavon moved the personal guaranty from its terms into the application you sign (change of April 2025, still in the November 2025 terms).
Dual pricing and surcharges
Data pointValue
Dual pricing or surcharge programYesSource: Elavon (opens in a new tab)Credit Card Surcharge program: you choose the percentage your customers pay on credit cards; not offered in CT, ME, MA, NY or Puerto Rico. Elavon lists it for Elavon Point of Sale, Converge, Tetra terminals, its gateway, CenPOS and Poynt/Newland, and doesn't say whether accounts opened online at U.S. Bank's flat rate qualify; it says the program lets you partially offset the cost. Card network rules and state laws apply.
Cards the program coversCredit cards only (surcharge)Source: Elavon (opens in a new tab)Debit keeps a card rate: Elavon says merchants in the program pay tiered debit pricing it doesn't publish; our cost uses the published rate.
Monthly fee for the programNot publishedSource: Elavon (opens in a new tab)Not published.
Your POS and your business
Data pointValue
Works with these restaurant POSOthersSource: U.S. Bank (opens in a new tab)U.S. Bank doesn't name which restaurant POS systems; Elavon's WorksWith directory lists partner software.
Requires the vendor's own POSNoSource: U.S. Bank (opens in a new tab)
Monthly volume it's built forUnconfirmedSource: U.S. Bank (opens in a new tab)No minimum volume published.
Accepts high-risk businessesUnconfirmedSource: Elavon (opens in a new tab)Not published.
Routes debit to the lowest-cost networkYesSource: Elavon (opens in a new tab)Optional Debit Optimization service, with a per-transaction Debit Enablement Service Fee.
Support
Data pointValue
24/7 support for merchantsYesSource: Elavon (opens in a new tab)
Support channelsPhoneSource: Elavon (opens in a new tab)
Language
Data pointValue
Support in SpanishUnconfirmedSource: Elavon (opens in a new tab)Elavon says its support team is multilingual but doesn't say it serves Spanish.
Merchant dashboard in SpanishUnconfirmedSource: Elavon (opens in a new tab)Not documented.
Contract or terms in SpanishNoSource: Elavon (opens in a new tab)Elavon posts a Spanish version of its Terms of Service from March 2019; the current version (November 2025) is in English.
US website in SpanishNoSource: U.S. Bank (opens in a new tab)U.S. Bank's Spanish site links to its payment solutions pages in English.

More about U.S. Bank Payment Solutions (Elavon)

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