U.S. Bank Merchant Services 2026 Review: Pros, Cons, Features
U.S. Bank Merchant Services combines banking and payment processing for a more holistic payments option.
The bottom line:
U.S. Bank Merchant Services is a convenient payments solution for business owners who already use the bank’s business checking account. Since your funds stay under the same roof, you may get access to them as soon as the same day. Processors that don’t double as banks can take up to three days or more to transfer your funds.
Software details
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.30
Monthly fee
$0
and up.
Pros & Cons
Pros
Same-day funding seven days per week for U.S. Bank checking account holders.
No cancellation fees.
Free POS software plan available.
24/7 support.
Cons
May charge setup fees.
Virtual terminal costs extra.
Three-year contract (though there are no cancellation fees).
Compare to other products
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.30
Payment processing fees
In-person: 2.6% + $0.10
Online: 2.9% + $0.25
Payment processing fees
In-person: 2.7% + $0.05
Online: 2.9% + $0.30
Need more options? Check our picks for best payment processing systems
Chase Payment Solutions: Better direct processor. U.S. Bank Merchant Services uses Elavon to process payments in house, but Chase takes in-house processing a step further. Unlike U.S. Bank, Chase is a direct processor. This could be a perk for business owners who care a lot about an institution’s reputation and experience as a direct processor, but it's really a matter of preference. Read our full Chase Payment Solutions review.
Stripe: Better for online transactions. Stripe is known for offering customizable payment processing solutions to businesses that mostly operate online. It’s also available in more than 40 countries. Read our full Stripe review.
Full review
U.S. Bank Merchant Services is a payments services provider with a built-in business banking solution. It uses Elavon, a subsidiary of the institution, to process payments, and sells POS systems from Talech. The product stands out for its quick deposits, lack of cancellation fees and variety of POS software plans for retail businesses and restaurants.
However, U.S. Bank Merchant Services isn’t the best fit for businesses that don’t have a U.S. Bank business checking account. Other popular payment services providers offer similarly competitive rates and more hardware options.
U.S. Bank Merchant Services is best for businesses that:
- Have a U.S. Bank business checking account. Businesses that bank with U.S. Bank get access to same-day deposits, instead of having to wait multiple days. This can help improve cash flow.
- Prioritize convenience. If you’ve been satisfied with your experience banking with U.S. Bank, it makes sense to use them for your payment processing needs, too. That way, you’re working with one company instead of two.
Deciding factors
| Payment processing model | Flat-rate. |
| Payment processing fees |
|
| Monthly fee |
|
| Hardware cost | Sells a variety of hardware, including full POS stations, handheld terminals and customer displays. You can purchase or rent hardware. Monthly rental pricing starts at $15 for a handheld terminal. |
| Contract length | Three years, but there are no cancellation fees. |
| Customer support | 24/7 support, plus a dedicated account manager. |
» MORE: Best free POS systems
Where U.S. Bank Merchant Services stands out
Built-in banking partner
Processing payments through your bank (or one of its subsidiaries), as opposed to through a third-party option, can streamline deposits and bolster your business’s cash flow. U.S. Bank Merchant Services offers same-day deposits — on weekdays and weekends — to business owners with a U.S. Bank business checking account.
Lots of competitors, like Clover, don’t guarantee next-day deposits. Instead, some merchants wait up to three business days to access their funds. It’s also uncommon for processing companies to make deposits on weekends, like U.S. Bank Merchant Services does.
💬 From our Nerds: Should you get a U.S. Bank business checking account?
"U.S. Bank is a rarity among brick-and-mortar banks. It offers a business checking account with no monthly maintenance fee. That means opening an account has little downside, especially since the upside is faster access to funds.
"The account isn’t perfect, though. Its additional fees — for overdrafts, wires and out-of-network ATMs — are high compared to other free business checking accounts. Plus, cash deposit limits are relatively low.
"Those constraints may make U.S. Bank a tough everyday fit for your business. But you can always open a U.S. Bank account as a way station for your payments and use a second account for other transactions."
Read our full U.S. Bank business checking account review.
— Ryan Lane, managing editor covering small business
24/7 support
If your payment processing system is down or you run into an issue, you risk having to pause sales. Access to 24/7 support and a dedicated account manager can be a game changer for businesses that stay open late and/or are busiest on weekends. Some competitors, in comparison, offer support Monday through Friday or Saturday, and only during business hours.
Where U.S. Bank Merchant Services falls short
Additional costs can add up
U.S. Bank Merchant Services tacks on some charges you don’t always see with competitors. For example, there’s a mandatory $99 setup fee if you opt for the Starter, Standard and Premium POS plans.
And if you need a virtual terminal to accept payments over the phone, that also costs extra. The institution doesn’t clearly disclose this virtual terminal upcharge on its website either.
Not ideal for businesses using outside banks
U.S. Bank Merchant Services’ main draw is its built-in banking services. If you don’t have a business account with U.S. Bank, there’s not as much incentive to process payments through it. For one, you wouldn’t be approved for same-day deposits. Additionally, competitors, like Square and Clover, offer more POS options that employees and customers alike may be more familiar with.