What fees are typically involved in accepting credit cards in the industry?.
To better educate our clients, we always encourage our clients to compare, know the typical merchant banking fee structure and understand the terms offered by various banks and providers. Recurring fixed monthly fees: Monthly Service Fee with Statement This is a fixed monthly fee that virtually all banks/merchant account providers charge. This is a handling fee and though it is called “statement fee” by most merchant account providers, it is a “Monthly Service/Support/Statement” which is more accurate. Each month you will receive a detail statement send to you by mail for your tax records. Find your statement fee on the rate table above. Monthly Gateway Fee (optional feature only for Internet businesses) A traditional Retail would have the cost of an electronic terminal (about $400-$700) and daily ink/paper supplies. Using a Internet Virtual Terminal, you will have a small gateway fee instead. This is a fixed monthly fee that virtually all gateway providers charge for their services, e
