Marty Tennison wrote:
Hi Group,This is sort of off topic but I thought it might be worth posting in case anyone else has the same question.This is in regards to merchant accounts and processing fees. Specifically, the "per transaction fee" ($0.20 per transaction in our case) that is charged. My understanding was that this fee is only applied when a transaction (sale, credit or auth) is successful however, I'm now finding out that it is applied for either a successful or declined transaction.The question is, are any of you paying the "per transaction fee" for declined transactions? Or is this just another way for our merchant bank to try and make some money.Thanks in advance for any input.
Marty,The type of fees vary quite a bit depending on the type of deal you got for your merchant account. I have had clients charged a fee for declined transactions. I've also had others not charged a fee. It all comes down to what's on the agreement the business owner signed for the merchant account.
Another word about merchant accounts. I just replaced my old one with one that has with a month to month style contract (no yearly contract), a $7 monthly fee and low percentage rates. The deal even beat what Costco offered which at the time was the best deal I've seen.
The secret is don't get the merchant account from those salesman that bug the heck out of you. Also don't get them from those big banks. The secret is call a bunch of local banks until you find one with good rates. I found mine at a local bank that here in Boise.
-- Sincerely, Duane Hinkley Down Home Web Design, Inc. (208) 424-0572 Fax(208) 587-0738 suppressed www.downhomewebdesign.com _______________________________________________ interchange-users mailing list suppressed http://www.icdevgroup.org/mailman/listinfo/interchange-users
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