This is a paragraph.Understanding, or the ability to read your statement is important to know exactly what you’re paying, and what you shouldn’t be paying. Ask your provider to explain any line item you’re not sure about. It might be a fee that you don’t need to pay, and they should be able to give you tips on avoiding that cost if possible. Processors usually charge less than $10 monthly, ask your provider to lower your PCI cost. When non-compliant on your PCI, most processors charge less than $20 monthly. Ask your provider to lower your PCI Compliance Fee. Other Item Fee is a way for your provider to possibly mark up the rates, or your cost that you were originally quoted. Although processors do charge for an account on file with them, it’s rarely over $10.00. If you have enough processing volume, some providers will wave the cost, and absorb it. AVS or Address Verification System is usually $0.01 – $0.05 per transaction and helps prevent fraud. If you don’t use AVS properly, your Interchange Rates downgrade to a higher cost, and VISA and MasterCard also charge an additional fee on your transactions. VISA charges $0.10 per transaction, and MC adds it to your assessment fees. There is absolutely no justification for charging an annual fee. We could say a lot about this fee, but I’ll leave it there.
Results
#1. Can you read and understand most or all of your monthly statement?
#2. Is your monthly PCI Compliance or Security Fee more than $10.00 monthly?
#3. Speaking of PCI Compliance or Security fee, if you're non-compliant are you being charge more than $20 monthly?,
#4. Looking at your monthly statement, do you see "Other Item Fee" listed in your charges?
#5. Do you have a Monthly Service Fee, Account Fee, or Statement Fee, and is it more than $10.00?
#6. Do you see EIRF in your list of Interchange or Trans Integrity Fee on your statement?
#7. Does your processor charge an annual fee?
