There can be an overwhelming number of merchant account fees and other costs involved in processing a credit card transaction. Merchant account providers charge different amounts on certain fees. If you feel as if you are paying too much or not sure if you the consider another provider.
Here are just a few fees that your provider may be charging you:
Set-up fee / Application fee - This fee is usually charged by a service provider. It would take place after the application process has been finalized and the account has been approved. This is a fee that the provider will charge to complete the set up and can cost you anywhere from $50 to $500.
Monthly Statement fee - This is a flat monthly fee that is charged to mail your monthly bankcard statement. This fee covers the cost of the provider's operation. It usually runs from $10 to $15 per month, which costs you, as a business owner, $120 to $180 per year.
Annual fee - An annual fee is a flat rate charged yearly to manage an account that can cost you from $50 to $195 per year.
Batch fee - Whenever you settle your transactions or when your transactions are closed out for the day and the amount is transferred to your business account you may be charged for this in the sum of $.05 to $0.50 per day. With 352 days in a year this could add a charge to you from $17.60 to $176 a year.
Programming fee - When you get your terminal programmed some companies may charge a fee of up to $295 or higher.
Reprogramming fee - If your equipment needs to be reprogrammed by the provider or if you switch your merchant account provider this fee can run up to $150. How many times might your equipment have to be reprogrammed each year? Even if it is only once that is another amount taken out of your business.
Termination or Cancellation fee - This might be charged by your provider if you terminate your merchant account with the provider due to the cost of setting up and maintaining your merchant account. This could be prorated where the fee decreases the longer you stay with your current provider or you could be charged thousands if you withdraw from your contract early.
There are so many more fees that are charged by merchant account providers to increase their income that, in turn, decreases yours. You, as a smart business owner, can easily avoid all of these charges - and many more! Are you ready to find out how to NEVER pay these fees along with so many others? Put your hard-earned money back in your business instead of giving it to someone else!
Here are just a few fees that your provider may be charging you:
Set-up fee / Application fee - This fee is usually charged by a service provider. It would take place after the application process has been finalized and the account has been approved. This is a fee that the provider will charge to complete the set up and can cost you anywhere from $50 to $500.
Monthly Statement fee - This is a flat monthly fee that is charged to mail your monthly bankcard statement. This fee covers the cost of the provider's operation. It usually runs from $10 to $15 per month, which costs you, as a business owner, $120 to $180 per year.
Annual fee - An annual fee is a flat rate charged yearly to manage an account that can cost you from $50 to $195 per year.
Batch fee - Whenever you settle your transactions or when your transactions are closed out for the day and the amount is transferred to your business account you may be charged for this in the sum of $.05 to $0.50 per day. With 352 days in a year this could add a charge to you from $17.60 to $176 a year.
Programming fee - When you get your terminal programmed some companies may charge a fee of up to $295 or higher.
Reprogramming fee - If your equipment needs to be reprogrammed by the provider or if you switch your merchant account provider this fee can run up to $150. How many times might your equipment have to be reprogrammed each year? Even if it is only once that is another amount taken out of your business.
Termination or Cancellation fee - This might be charged by your provider if you terminate your merchant account with the provider due to the cost of setting up and maintaining your merchant account. This could be prorated where the fee decreases the longer you stay with your current provider or you could be charged thousands if you withdraw from your contract early.
There are so many more fees that are charged by merchant account providers to increase their income that, in turn, decreases yours. You, as a smart business owner, can easily avoid all of these charges - and many more! Are you ready to find out how to NEVER pay these fees along with so many others? Put your hard-earned money back in your business instead of giving it to someone else!