Reading and understanding your merchant statement.
What is a "statement fee"?

This statement fee is associated with the analyzing and compiling of the monthly processing information, sometimes referred to as the “Account on File Fee.”

Can I choose if my batches are combined or individually deposited?

Merchant’s are able to separate their batches into individual deposits or receive all of their batches in one combined deposit. Merchants with many terminals may find it easier to reconcile their bank account when they utilize individual deposits.

What are card brand fees?

Card Brand Fees from Visa, Masterccard, Discover and Amex include but are not limited to: Interchange Rates applied to every transaction, card brand volume and category code acquirer fees that are associated with size of the merchant and monthly volume. All of the Card Brand Fees are published publicly either annually or bi-annually by the card brands.

What is the difference between Processor Fees and Card Brand Fees?

The main difference between processor fees and card brand fees is that the processor fees are assessed by your Merchant Service Provider (MSP). Processor fees can vary depending on the details of your merchant account and business practices of your MSP. The card brand fees are assessed by the card brands (Visa/Mastercard/Discover/Amex) and cannot be changed. Card brand fees are assessed the same across every merchant, MSP and transaction with rate changes published bi-annually. Many MSPs make it very difficult to differentiate between processor fees and card brand fees in order to obscure true costs and savings.

What is the difference between daily and monthly billing?

Daily billing merchants are assessed their daily processing fees every day and are applied to their batch. They will receive their deposit and they will receive a debit of daily processing fees. Daily billing merchants are subject to fees at the end of each month, such as their fixed fees and monthly volume card brand fees.

Monthly billing merchants are assessed all of their fees one time at the end of the month. Their daily batches are not affected.

Will I still have monthly fees even if I do not run any transactions?

The short answer is yes. Each month a merchant is charged a Statement Fee, Regulatory Fee and Compliance Fee. The statement fee is not for the actual paper statement, but for the work that is done to compile and report the information on the statement.

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