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How much does My Well Merchant Account cost?

Price matters, and we want to help you make the best, informed decision.

Important Note: This article on cost applies specifically to payment processing integrations only! For Giving Platform Pricing, visit our official website pricing page ūüėé


If you haven't read about Interchange rate and why you should care, now is a good time to check that out to fully understand our pricing model. 

My Well Ministry leverages Interchange Plus Zero Pricing. This is the most transparent model in the payment industry, and coincidentally, the model that helps you as an organization receive the lowest possible rate. Each transaction is simply charged at cost. 

The average effective rate across all My Well accounts is 1.75%. This includes all interchange fees, monthly fees, and individual transactions fees.

My Well considers "at cost" to be the base fees that the payment processing networks charge for all transactions, along with the transaction fee charged by our gateway. What makes us different is that we charge 0 basis points (0%) on top of interchange‚ÄĒeliminating any profits on these accounts. We call this Interchange Plus Zero Pricing. Now let's take a look at the actual Interchange costs involved.

Our passthrough costs explained

Interchange Rate

This rate, comprised of the almost 400 different types of fees that must be paid to Visa, MasterCard, or Discover, varies from transaction based on the payment type used by the giver. For example: .65% + $0.15 for a Visa debit card, or 3.80% for an American Express card.

Merchant Processing Account

Your merchant account is a specific type of bank account that you open with a payment processor. This account is where your funds are stored as the payment processor facilitates taking payments from an end user's account and putting them into your merchant account.

Per Transaction Fees

  • 1.5 Basis Points (.015%) - This equals out to $1.50 per $10,000 processed (covers a cost called Bin Clearance)

  • $0.05 per transaction (covers TransNational's cost to process on the Global Network) 

Monthly Fees

  • Monthly Service Fee: $49

  • Batch Fee: $0.10 (There are typically 2 batches per day, one for CC + one for ACH)

Additional Fees

  • Per Transaction Fee: $0.20

  • Monthly Minimum Fee: $0

  • Account Start Up Fee: $0

  • Annual Account Fee: $0

  • PCI/Security Fees: $0 (If you complete certification through our partner TransNational, which we provide to you for no cost)

  • Account Termination Fee: $0

Gateway Account

If you're choosing to use the My Well gateway in conjunction with your merchant processing account, there are additional fees required by the gateway. Again, these costs are passed directly to you without markup. 

Gateway Fee

‚óŹ Authorize.net - $10 per month & $.10 per transaction

‚óŹ NMI- $11 per month & $.06 per transaction

‚óŹ ACH Feature is $20 per month and $.25 per transaction

There are no lengthy contracts that you are bound to. You simply pay month to month and you can cancel at anytime without penalty. 

We hope this explains the breakdown of how much My Well costs, and we believe that our incredibly, low at cost pricing will help you best steward the money coming into your organization. If you're interested in taking the next step to partner with us, feel free to reach out using the chat icon in the bottom right of your screen!