Overview

U.S. Bank operates as both a financial institution and a payment processor, serving businesses and government entities across the United States. Its payment processing solutions include point-of-sale, online, and mobile payment acceptance, catering to both small businesses and large commercial operations.

U.S. Bank provides payment processing options designed for businesses of all sizes, including small merchants. Its solutions feature flat-rate pricing, mobile payment capabilities, and month-to-month contracts with a streamlined online signup process. These services are particularly well-suited for small businesses, whether they operate as mobile vendors, brick-and-mortar stores, or establishments with an online ordering component.

Features and Services

U.S. Bank supports a variety of payment methods, including traditional credit and debit cards, checks, and gift and loyalty cards . Businesses can accept payments in person, online, and via mobile devices. Additionally, U.S. Bank facilitates certain international transactions, enabling customers to pay in their preferred currency with seamless conversion. The bank allows payment acceptance in five different currencies and serves over 20 countries.

U.S. Bank Merchant Services offers a range of features designed to support businesses of all sizes. These include:

Dedicated Merchant Account

Unlike payment service providers, U.S. Bank provides businesses with a full-service, dedicated merchant account. This setup offers greater stability, reducing the risk of withheld funds or sudden account freezes that can occur with aggregated accounts from PSPs.

Despite offering the security of a dedicated merchant account, U.S. Bank retains many of the benefits associated with PSPs, such as flat-rate pricing and flexible, month-to-month contracts. U.S. Bank’s merchant services are powered by its subsidiary, Elavon, ensuring a robust and reliable payment processing experience.

Software

U.S. Bank primarily offers talech POS, a cloud-based point-of-sale system designed for various business types, including restaurants, cafes, retail stores, and service-based businesses. Some key features include:

• Online ordering
• Gift card support
• Appointment booking
• Detailed reporting
• Offline processing

In addition to talech, U.S. Bank can also integrate merchants with other POS systems, such as Aloha, offering flexibility based on business needs.

Hardware

U.S. Bank provides a range of talech hardware options to accommodate different business needs, including:

• Ingenico Card Reader: Free with a new account
• talech Terminal: A smart terminal for payment processing
• talech Register: A full-featured POS system

U.S. Bank may also offer other POS solutions based on specific merchant requirements.

Invoicing

U.S. Bank provides an integrated invoicing solution that enables businesses to generate and send online invoices to customers, who can then make payments digitally. This feature is accessible through the talech platform and does not require the purchase of additional hardware.

Reporting

U.S. Bank offers real-time reporting to help businesses manage their operations efficiently. Reporting is accessible through the MerchantConnect portal and is available in two tiers: Basic and Premium.

• Basic Reporting: Ideal for single-location businesses, this package includes one login and provides real-time access to account details. Reports are available for up to six months and include essential data-tracking tools.
• Premium Reporting: Designed for businesses with multiple locations, this plan allows multiple user access and offers searchable and exportable reports for more advanced data management.

Same-Day Funding

Businesses with a U.S. Bank business checking account can take advantage of same-day funding, with next-day funding available in some cases based on batch processing times. Additionally, U.S. Bank offers Everyday Funding, allowing merchants to receive payouts seven days a week, including weekends and holidays, at no extra charge and without daily funding limits.

Software Integrations

U.S. Bank Merchant Services supports integrations with various business software platforms, including QuickBooks Online, Xero, Ecwid, Authorize.net, X-Cart, Homebase, and Fresh KDS, helping merchants streamline accounting, inventory management, and payment processing.

eCommerce

Merchants can use U.S. Bank’s virtual terminal to manually enter card payments for remote transactions. Additionally, the virtual terminal is compatible with various eCommerce shopping carts, enabling seamless online payment acceptance.

Plans and Pricing

U.S. Bank provides flat-rate credit card processing with month-to-month contracts, making it an attractive option for small businesses looking for affordable pricing without long-term commitments.

The bank is relatively transparent about its fees, displaying most costs upfront on its website. However, some details—such as eCommerce plan pricing and POS hardware costs—are not disclosed. Additionally, businesses may encounter setup fees and monthly hardware rental charges depending on their selected services.

U.S. Bank provides a free POS plan that includes a complimentary mobile card reader, allowing businesses to start processing payments without upfront costs. Additionally, merchants have the flexibility to purchase POS hardware outright rather than committing to a rental plan.

There are no early termination fees (ETFs) or account closure fees, giving businesses the freedom to cancel their contract anytime without penalty.

Transaction Fees

These rates apply to new merchants who sign up online or by calling 844-775-1902. However, larger businesses may be able to negotiate interchange-plus pricing by speaking directly with U.S. Bank Merchant Services.

• In-person payments (swipe, tap, insert): 2.6% + $0.10 per transaction
• Manually keyed-in payments: 3.5% + $0.15 per transaction
• Online payments: 2.9% + $0.30 per transaction
• Invoice payments: 2.9% + $0.30 per transaction

POS Software Fees

The cost of using U.S. Bank Merchant Services’ POS software depends on the plan you choose:

• talech Mobile (for mobile businesses, food trucks, and field services): $0/month
• talech Terminal (smart terminal for brick-and-mortar businesses): $15/month
• Full talech POS systems (includes features like online ordering, appointment booking, and loyalty programs): $69–$99+/month, plus a one-time setup fee of $99

Additional software licenses:

• talech Terminal plan: + $15 per additional license
• Full POS systems: + $29 per additional license

These prices may vary, and the listed rates apply to merchants who sign up through U.S. Bank Merchant Services’ website.

Hardware Fees

The cost of hardware depends on the specific device or POS system, as well as whether the equipment is purchased outright or rented.

• talech Terminal Plan: The $15/month fee includes both the POS software and the rental of a smart terminal.
• Mobile Plan: New customers signing up for the mobile POS plan can receive a free Ingenico Bluetooth card reader.
• Additional Hardware Costs: Pricing details for other devices are not explicitly listed on U.S. Bank Merchant Services’ website, so businesses may need to contact them directly for specific pricing information.

Terms and Limitations

U.S. Bank offers month-to-month contracts with no penalties for early termination or account closure. If you’re renting a POS terminal or other equipment, you can return it without facing any additional fees. Merchants utilizing talech POS through U.S. Bank will have a separate agreement with talech; however, these contracts are also month-to-month, ensuring you can cancel at any time without incurring extra charges.

Customer services

U.S. Bank Merchant Services provides 24/7 phone and email support at no extra cost. Additionally, they offer self-service resources, including an online knowledge base. A standout feature is that merchants who sign up receive a dedicated account manager, offering personalized assistance whenever needed.

Bottom Line

U.S. Bank Merchant Services provides a comprehensive selection of credit card processing options, featuring dedicated merchant accounts with personalized support, transparent flat-rate pricing, a free plan option, and flexible month-to-month contracts. Additionally, U.S. Bank business banking customers benefit from same-day funding, and the company’s extensive network of physical branches offers added convenience. However, some users have reported concerns regarding U.S. Bank’s POS partner, talech, as well as its merchant services subsidiary, Elavon.

Overall, U.S. Bank Merchant Services is a reliable option for small businesses seeking essential payment processing solutions, including mobile transactions, online invoicing, and Zelle payment acceptance. Its flat-rate pricing structure is particularly well-suited for businesses with lower transaction volumes.