Business owners looking for a reputable, experienced financial partner should consider Wells Fargo Merchant Services. With over 160 years in the banking business, Wells Fargo has learned to adjust to business financial trends and provide the resources that businesses and its customers need.

To determine whether Wells Fargo Merchant Services is right for your business, explore this guide on the company’s business services, pros and cons and service fees.

Wells Fargo’s products and services for businesses

Whether you’re searching for Wells Fargo credit card processing, point-of-sale (POS) services or internal tracking capabilities, you can find a comprehensive suite of services that includes:

  • Business banking and credit cards. Whether your business spends $100 or $1 million per month, Wells Fargo has a business credit card option for you. The rewards programs can save you money, and connecting your accounts with a business checking account will further increase your merchant benefits.
  • Business financing. It takes financing to expand your operations, and Wells Fargo has options uniquely catered to your business, including business loans, business lines of credit and commercial real estate financing.
  • Clover POS. Explore the all-in-one point-of-sale solution that tracks every aspect of your business, from initial inventory to final sale. With the integrated app market and cloud connections, the Wells Fargo Clover POS can help you keep tabs on marketing, customer outreach, payroll, scheduling and more — all in a single convenient terminal.
  • Mobile payments. Consumers are increasingly enjoying the convenience of mobile payment services such as Apple Pay, Google Pay and PayPal. Accepting these payment methods at your retail locations can increase sales and improve service times with faster POS processing.
  • EMV chip technology. Get both the equipment and the increased security standards necessary to process EMV chip cards with Wells Fargo credit card processing. Most banks are now embedding EMV chips in their credit and debit cards, as this security feature helps protect against credit card fraud and theft.

Pros and cons of Wells Fargo Merchant Services

If you’re thinking of signing up for Wells Fargo Merchant Services, make sure to consider both its advantages and weak points.


  • Greater security with business transactions. As part of its merchant services, Wells Fargo uses the latest in security technology, including PCI-Data Security Standards, EMV chip technology and advanced encryption processes.
  • Service and support options available 24/7. Whether you prefer self-service options through your personal business web portal or you’d like to speak with a live service representative through Wells Fargo’s merchant customer support line, you can access service and support options 24/7.
  • Access tools to scale your business. Utilizing Wells Fargo’s merchant tools can allow you to accept new payment methods from customers, access additional financing capital, offer gift cards to your customers and establish the infrastructure for large corporate and government contracts.


  • Requires both personal and business credit checks. Credit checks are fairly standard practice when applying for a merchant account, but it’s still worth noting that your personal and business credit could be negatively affected.
  • Rates and fees can be confusing. Business owners who use internet research for comparison shopping may be disappointed with the lack of transparency on the Merchant Services section of Wells Fargo’s website. Even on the Frequently Asked Questions page, Wells Fargo lists only general information about when certain fees may apply, and it neglects to provide even average ranges of fees for merchant services.
  • Middleman fees can add to your costs. Wells Fargo provides a comprehensive program guide with lots of fine print on its merchant services offerings. The first page specifies that the terms and conditions apply to “other third parties, such as TeleCheck.” Some aspects of Wells Fargo’s merchant offerings are outsourced to third parties, and it passes the cost along to you for the convenience of having all your services in one place.

Wells Fargo Merchant Services pricing

Wells Fargo is fairly opaque about its merchant rates and fees, and it encourages users to contact the company directly for a custom pricing quote. When contacted, a company representative explained that Wells Fargo merchant services fees and rates are based on a number of factors, including the business industry, company size, average transaction amount and monthly sales volume. But for a general idea, we pulled the following information directly from Wells Fargo.

Business to consumer transaction fees

Total monthly processing volume Per tap, dip or swipe transaction Per online or keyed-in transaction
$0 – $14,999.99 2.60% + $0.15 3.40% + $0.15
$15,000 – $39,999.99 2.40% + $0.15 3.20% + $0.15
$40,000 and up 2.20% + $0.15 3.10% + $0.15

Business to business transaction fees

Total monthly processing volume Per tap, dip or swipe transaction Per online or keyed-in transaction
$0 – $14,999.99 2.60% + $0.20 3.99% + $0.20
$15,000 – $39,999.99 2.50% + $0.20 3.75% + $0.20
$40,000 and up 2.40% + $0.20 3.50% + $0.20

Monthly service fees

Transaction type Monthly fee
In-person tap, dip or swipe via terminal $9.95 per location
Through your website’s shopping cart via Wells Fargo’s® e-commerce processing solution $24.95
By keying customer card information into a virtual terminal via web browser or digital invoice $9.95
Through a third-party software solution that lets you accept payments through a shopping cart, POS software or web browser $14.95

The bottom line

Wells Fargo Merchant Services offers all of the core products your business needs for handling customer transactions, managing inventory, obtaining financing and tracking business metrics. While the convenience of having everything in one place is nice, you should still do your homework to compare rates and assess the true cost of Wells Fargo’s offerings in your business.