Hidden
Fees
A common tactic used by merchant service providers
is to advertise and quote extremely low, below market credit
card processing rates. The problem is, just like the free
credit card machine, the merchant is not being told about
all the fees that will apply to their credit card processing
account. So while the merchant might be getting a good deal
on the front end fees such as the qualified discount rate,
the transaction fee, and the monthly statement fee, they may
be charged almost triple for all of the other credit card
processing fees that apply to the account. The following are
credit card processing fees which are commonly hidden:
- Mid Qualified Surcharge
- Non Qualified Surcharge
- Monthly Minimum
- Pin Based Debit Card Network Fees
- Wireless Transaction Fees
It’s one thing for a company to adjust
the configuration of a Merchant Account to accommodate a potential
merchant and be entirely forthcoming with the details. But
we think most would agree that not disclosing such information
is what is truly deceptive. Unfortunately, you are likely
run into this in your search for a Merchant Account Provider.
For more information about
1st National Processing, Mobile Solutions, Merchant Accounts,
Credit Card Machines, Supplies, and Gift Card Programs, please
visit our website at http://www.1nbcard.com,
or give us call toll free to talk to an account
specialist: 877.964.1622
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