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 are then it may be time to consider another provider.
Here are just a few merchant account fees that your provider may be charging you:
Set-up fee / Application fee - This fee is usually charged by a merchant services partnership account 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.
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