At Midland States Bank, the “rate” you pay is the actual VISA, MasterCard and Discover interchange rate. You can’t process for less than the actual interchange rates across the board. If you’re paying a “qualified” rate, “buy” rate or “discount” rate with your processor, then you’re paying too much.
If you’ve sold your business and want to transfer your Merchant Services account to the new owner, call Customer Care at 1-855-MY-MIDLAND (1-855-696-4352) and dial #3 to speak with a Merchant Services professional. The new owner will need to fill out an application to establish an account under his or her name.