Vanco Interchange Rates (Processing Fee Increases & Updates) 2024

Like all payment processors, Vanco Payments regularly makes changes to its fees and rates. Our team keeps a close eye on these updates to keep our readers informed. 

Here’s a summary of the latest Vanco rate increases and interchange fees.

Vanco Rate Increases Effective August 2023

Effective August 1, 2023, Vanco is increasing its credit card processing fees to a flat rate of $2.75%. This change applies to all major credit cards except for American Express, which will be assessed a 3.5% fee per transaction. 

Current Vanco customers were notified of this price increase in a notice sent out in June. 

The notice explains that the rate increase is due to the rising costs associated with accepting credit cards and interchange rate increases imposed at the card network level. 

Vanco Payments Pricing

Here’s a quick overview of Vanco’s plans, features, and rates:

Grow — $0

• Credit and Debit Card Processing – 2.90% + $0.45 per transaction
• American Express Processing – 3.5% per transaction
• ACH Processing – 1% + $0.45 per transaction
• Text-to-Give – $10 per month

Thrive — $49

• Credit and Debit Card Processing – 2.65% + $0.39 per transaction
• American Express Processing – 3.5% per transaction
• ACH Processing – 0.90% + $0.39 per transaction
• Text-to-Give – Included

Other Vanco Fees and Prices

• Chargeback Fee – $25 per chargeback
• ACH Returns and Credits – $5 per transaction
• PCI Non-Compliance Fee – $23.95 per month

There’s also a $10 per month charge for organizations that don’t meet with a Vanco specialist within 15 days of opening an account and have an online giving page live on their website within 30 days.

About Vanco Payments

Vanco Payments is a credit card processing company and software provider with solutions tailored to nonprofits, including churches, faith organizations, schools, childcare centers, and more. 

They’ve been operating for over 30 years and currently serve more than 45,000 organizations.

Vanco offers payment technology like text-to-give, mobile card readers, online payment processing, and more. They also provide niche-specific technology such as mobile church apps, online ticketing for school events, music management programs, and more.