I recently contacted psigate to obtain their pricing, and here is their response:
Thank you for contacting PSiGate. For Canadian merchants wishing to process and settle in both Canadian and US dollars we have a couple plans, that include both merchant accounts and gateway processing.
The first plan is more of a starter plan and has a setup fee of $199CDN, monthly fee is $39.95CDN and the transaction fee is 0.45¢ (CDN). Our merchant discount rate (MDR) is 3.95% for this plan.
The next option is generally for more established merchants or for new merchants that know they have a customer base to begin with. This plan has a setup fee of $299CDN, monthly fee is $54.95CDN and the transaction fee is 0.29¢ (CDN). Our merchant discount rate (MDR) is 3.49% for this plan.
For both of these plans, there is also a monthly minimum fee of $25US. This monthly minimum fee means you will need to process a minimum of approximately $650-$675 in monthly US $ sales volume or you will be charged $25 instead of the MDR.
This seems rather high to me, but I've only compared it with CDGcommerce and e-online resellers, etc.. who have no signup/setup fee, and much lower MDR.
Is this normal for Canadian processing companies? Does anyone have a better rate/pricing?
The Canadian banking system is a lot different than the US.
It is a little interesting though they throw in the USD. If I remember correctly, 34 banks in Canada that process the credit cards. Somewhat of a monopoly & I think only a couple of gateways currently.