During the time when your business has been down due to the slow economy in addition to costs are rising for accepting a card? Yes, your rates and fees you the business owner pay may go up, way up depending on individual preference do business with the.
One Merchant Services processor announced they were raising their rates by .27%!! Consume huge increase. Definitely doesn’t stop there. I’ve seen several other companies can get on the bandwagon and announce they have raised their rates to. The largest increase I’ve seen much has been .45%. So if you were paying 2% you will certainly paying 2.45%.
Please keep in mind this is not Visa, or MasterCard raising their rates, it is the Best Online Casino Merchant Account Services Processing companies!
Time to make your Statements out!! You should have received these planet mail by next. In the last paragraph on the last page of your statement is where they usually disclose (hide) the rate increase. It may well be a % the minute rates are going up and/or a transaction fee ($.xx) increase. What’s more, it states that seeking continue to process with the company May 1st you might have agreed to their rate increase.
It may proper to shop around for a different Merchant Services Provider if your current company is raising your rates. There are various of Merchant Services Providers out there that are not increasing their processing rates.
I’m frightened in the number of business men or those in charge of the books for companies, who don’t even bother opening their statements anymore! This industry is very broken and the majority of of the processors have made their statements so confusing and hard to read, that businesspeople quit opening items. This gives these companies a real easy way to make rates and fees since all the alerts and communications are on the statements.
I have visited the payments processing industry as a bank account executive (OK salesman, but account executive sounds better) clogs under 9 years. Among the things I’ve learned is there have a of games being played at your expense.
It is very important to process your own cards as efficiently as possible so you can reduce the fees you pay. Lots of the fees you pay can be avoided if you know what to look for.