Pinar MK Blog
Finance - Credit Card

How To Read A Merchant Statement To Categorize Credit Card Fees – 5 Ways

Read your statement and low merchant fees that you have paid to find where’s Waldo? “playing” can be like. Because there are so many different formats is one reason merchant acquiring companies. So, how competitive the industry has become the accused disclose how many monthly statements don’t completely lower. And sometimes it remains completely hidden.

Even if I know Banks never send a comment. If they did have an online merchant account to log on to what wants much more detailed information.

Has Been Destroyed!

One reason for this is there is no competition. Credit and debit card industry to become part of the 2 trillion dollars you have to remember. Money is like a magnet – most traders constantly switch the processor to lower prices for them “promising”, etc to obtain competing processors to make contact with takes.

The job is a tough competitor sales representative as possible within walking distance to the trader to analyze the statement, namely, to prevent a sales representative from another merchant processing company in a remote, some processors make a Apples and apples comparison to do.

That being said, still some basic keys to look for when reading your statement. Merchant statement analysis, in line is what I’m looking:

  • A: Pricing structure the account was established how? Which pricing model does it work? (E is using sequences. g. 3-Layer; 3-tier, etc.) interchange Plus or “does she use? (NOTE: most traders have a tiered pricing model, which are my preference by a warranty. So, other pricing structures, but by far the most common tier pricing)
  • Two: (Sometimes “Other”)monthly fees – monthly fees, I can’t wait to see what next. This may involve: statement fee monthly service fee; (I want to see normally only one) maintenance fee account although I’ve seen two – or equivalent fee; PCI fee; collective wage; and gateway or access fees see, but you may be using a different term. For a monthly fee, any poet, but here is the e may indicate. g. quarterly, annual fee, or semi -.
  • Three: Transaction Fees here is where discount rates are listed. The best descriptions with tier pricing if it “qualified”, “medium list showing (Layer 3) qualified” and “non -” qualified speed will be. Plus if you change it, if you bought the card for the real exchange rate then you will see a list of all the different cards, up to (per-product discount), plus the CPU mark-DPI basis points and (or per piece), expressed as a processing fee according to the term that is used to list.
  • Four: Authorization Fees Go to Visa and MC, charges can be found here. Access, authorization, and /or a fee they’ll be listed as Watts. Also here (giving you access and freedom of residence) (address verification) ACP fee, assessment fee; usage fee brand; risk fees, settlement fees, we can find the IAS fee.
  • Five: Third Party Fees Third parties in the description of VISA & MC networks outside means. Pin if using a debit card if you are American Express, Discover, debit networks and includes

Reading a merchant statement, part of the problem-different processors use different terms to define different category names and the fees they. Like playing where’s Waldo “might” saying so I started.” Although it is a general term that can be used for certain fees, has signed a commercial agreement (the company) there’s a big difference depending on the acquirer.

Again, a portion of it is due to an attempt to hide what is being charged and a tough situation to analyze. This is somewhat understandable – I was a merchant there is evil. Integrity demands transparency. Maybe more would have a lower turnover than if you were trader for the processor and you wouldn’t have to worry about the competition too much. At least that is my opinion.

Leave a Reply

Your email address will not be published. Required fields are marked *

back to top