Originally Posted by RI Ohio
So I set up an account with Bank of America purchased a new machine and set the account up as seasonal so in the off season there are no charges. The monthly fee is 9.95 and each transaction is charged 2.2% plus .20. Is this about average or did I rush into it?
I think that's good for a low volume, but I'd say you need at least 100 dollars worth of transactions to make it worthwhile and to offset the 9.95 cost, and more is better.
As for me, I don't do it for the business but for my site I use clickbank which is no monthly fee but they charge 15% per transaction. Since I do LESS than $100 / month, it's cheaper than what you pay, but that's on a consistent below 100 / month.