National Bankcard Review: A Good Overall Credit Card Processor

National Bankcard is a credit card processor that offers month-to-month contracts with no termination fees. There is no fee for applying or for setting the account up, and yet the company still provides competitive payment processing rates.

National Bankcard Processing Solutions

National Bankcard offers a wide range of solutions for different merchant needs. Below, you’ll find a summary of available payment processing options.

• POS Processing. An all-in-one solution that doesn’t take up much counter space. Choose from 4 different models with lease options available. The POS system is chip card, EMV-compatible and accepts NFC payments, and there’s no contract to sign as the lease is month to month. Peripherals include add-on applications, cash drawers, scanners, printers and more.
• Terminal Processing. Accept swipe, tap or dip payments with a free, brand new Verifone VX520 credit card machine (a $300 value) with wireless and WiFi options. You’ll also get a complimentary pin pad and check reader if you need them.
• Mobile Processing. Accept credit cards on the go with a free card reader that works on any mobile device. The app lets you process mobile payments and view sales reports. There’s no fee to set up, and you can receive funds within 12 hours of processing payments.

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Value Added Services

National Bankcard also has a variety of value added services which you can take advantage of.

• Quickbooks Integration. Post payments to invoices and import transactions from your terminal with seamless Quickbooks integration. Applying payments automatically saves you precious time by eliminating manual data entry. With Quickbooks, you can also set up recurring payments to increase customer retention and streamline payment processing.Online Reporting.
  • Get real-time access to your account activity when you need it, from virtually anywhere. You can view and search transactions, deposits, chargebacks and more with your online account manager.
• Check Processing. Turn paper checks into electronic payments at the time of sale. With this service, funds are deposited directly into your account through the Automated Clearing House (ACH) network. Not only will you get your money faster, but you’ll also be saving your self a trip to the bank.
• Gift Cards. Build brand awareness and attract new customers with the gift card program. Available as custom or predesigned, and as a starter kit equipped with marketing materials, gift cards reduce fraud and add sales to your bottom line.
• Loyalty & Text Club. Turn a new customer into a repeat customer with the loyalty card program, offered in partnership with Pirq. This feature helps you reward your customers for frequent purchases while increasing customer retention. It’s a win-win situation for both seller and buyer.
  • There is no stamp or puncher required because everything is tracked via a powerful mobile app. As a merchant, you’ll have access to an online dashboard which gives you insight into your customers’ demographics and buying behavior.
• Cash Advance. Finance your business’s growth with the working capital you need. Whether it’s to continue operations or to expand, merchant cash advance loans give you greater flexibility to achieve your goals. You can use the funds for just about any business purpose, with the option to renew.

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Pricing

National Bankcard states that it does not require any setup or cancellation fees. However, you won’t find much detail on what’s included in its plans and how much they cost, other than the fact that processing rates are as low as 0.25%. To get your hands on some concrete numbers, you’ll need to contact a National Bankcard representative.

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Customer Support & Satisfaction

Before you call or email a customer support representative, check out National Bankcard’s blog posts and forums to solve your processing problems quickly. Otherwise, support services via phone are available 24 hours a day, 7 days a week, 365 days a year.

The competition, however, is offering much more readily available support. To keep up with leaders in the industry, National Bankcard should expand their customer services to include how-to articles, a simple FAQ page and a live chat option.

Since 2007, National Bankcard has been accredited by the Better Business Bureau (BBB) and currently holds an A+ rating.

Complaints from other consumer protection forums centered around funds being held and difficulty resolving the issue, unauthorized charges, trouble canceling service, and undisclosed fees. However, keep in mind that the overall number of complaints is relatively low for National Bankcard’s age and size.

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Contract & Closing

National Bankcard offers month-to-month contracts with no early termination fees (ETFs). As mentioned before, there are no setup or cancellation fees. You won’t find much on other fees besides that. National Bankcard does not disclose additional gateway or PCI compliance fees, account administration charges, or statement, chargeback, and virtual terminal setup fees. I would like the company to be more forthcoming in this area, so merchants can better guesstimate what their statements will look like at the end of the month.

As with any contracts, read each word carefully so you know exactly what you’re getting into. All fees should be included in your contract, as well as how to properly close your account.

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My Impressions

National Bankcard offers a lot to its customers: a POS system that is tailored to meet merchants’ needs, free hardware, and live customer service 24/7/365. However, the company could do better. National Bankcard should be more transparent about its rates and pricing structures.

Good alternatives to National Bankcard include Chase Payment Solutions and Square. Chase Payment Solutions has the infrastructure to handle medium to high volume needs. Square has modern, elegant features and is great for low volume merchants.

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