Fees, fees, fees
Posted by ~Ray @ 2007-10-25 20:13:10
Probably nothing stirs more controversy than. Merchants and business owners everywhere are not happy with the myriad of fees charged now a days which are part of the credit card processing costs.
The following is a common enumerate of fees you may see along with the average fee you should see for that particular fee. This gives a good guidline when comparing fees from various providers:
Discount evaluate - 2.4% for card not present. 1.8% for separate presentTransaction Fees - 30 centsPIN Debit Transaction Fees - 25 centsAddress Verification function Fee - 5 cents. Often incorporated into the Transaction Fee. ACH Fee or Daily group Fee - 20 centsMonthly Statement / Support / function Fee - $10Internet Gateway Fee - $20Voice Authorization Fee - $1.50 eachMonthly Minimum Fee - $25Surcharge / Partially-qualified / Non-qualified Fees - between 1% - 2% depending on separate typeApplication / Setup Fee - $0Reprogramming Fee - $0Chargeback / Retrieval Fee - $25Annual Fee - $95Cancellation or Termination Fee - $300Hidden Fees or Junk Fees - None. If you see these run!
Fees much higher than those above are trying to scam you. However fees much lower than those above may also be trying to cheat you with hidden fees you are not aware of or by increasing the fees shorty into the contract.
Bottom line: Choose a reputable provider who has been around for many years has many satisified customers and check out their BBB record.[ADVERTHERE]Related article:
http://blogs.adison.edu/merchantaccount/2007/09/12/fees-fees-fees/
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