| What is the Application Fee? |
The application fee is a one time
fee charged by the Bank to establish a merchant account. This
fee is usually $99-$175.
Our Application
Fee is $99
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Info Please
|
| What is a Discount Rate? |
The Discount Rate is a percentage
of the total credit card sale and is computed for each transaction.
A discount rate of 5% would mean you would pay
a fee of $5 for every $100 a customer charges with you. A discount
rate of 3% would only be $3 on a $100 sale.
payday loans
The discount rate is a very important variable.
The difference in just 1/2% could mean hundreds or even thousands
of dollars in revenue - either lost or gained for your business.
Our rate
is 1.59% Swiped / 2.25% Keyed
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Info Please
|
| What are Per-Transaction Fees? |
Per-Transaction fees are flat rate charges on
each transaction and range from $0.20 to $2.00 each. This is the
fee for each time a card is authorized or declined, or for each
time you use your credit card terminal to connect to the toll-free
authorization network.
Our fee is $0.20
per transaction
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|
| What is the monthly statement fee? |
The Monthly Statement Fee is a fee charged by
the processing bank to issue a detailed statement at the end of
each month. The statement should detail all of your charges and
what was deposited into your checking account. Statement fees
range from $5 to $45 per month.
Some banks will charge a separate "maintenance
fee" or "customer service fee" which may also
be $5 to $45 per month additional.
Our monthly statement
fee is $5.
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Info Please
|
| What is the monthly minimum? |
The monthly minimum is the minimum amount you
will pay each month in fees regardless of sales. This
fee is not in addition to fees but is simply a minimum
fee should there be no sales for the entire month, or sales under
a certain volume level.
Our minimum is
$15.
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Info Please
|
| What is equipment cost? |
Equipment cost is the purchase or lease of your
authorization software, or authorization swipe terminal.
Typical Cost:
Software: $695 - $1700 cash and $29 - $49 /mo.
with 36-48 mo. lease.
Terminal: $700 - $1700 cash and $29 - $49 /mo. with 36-48 mo.
lease.
Our cost:
Software $595 cash OR
$29.99/mo 36mo.
Terminal $695 cash OR $34.99 / mo 36mo.
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