by Jeremy Netlon
Here are the most common fees of merchant account providers:
- Application fee. A fee charged for an applying for an account (whether you are approved or not.).
- Setup fee. A fees associated with establishing the account.
- Discount Rate. A percentage deducted for each sale.
- Transaction fee. A flat fee on each transaction. Added to the discount rate.
- Gateway fee. A fee charged for merchant services provider's processing network maintaince.
- Statement fee. A fee for issuing you statements on all transactions.
- Monthly Minimum fee. A minimum fee charged regardless of the level of your sales each month.
- Chargeback fee. A fee charged per fraudulent transaction.
Other possible fees:
- Annual year fee.
- AMEX/Discover setup fees.
- Annual fee.
- Batch fees.
- Hidden setup charges.
- Intercharge fee.
- Licensing fees.
- Non-refundable setup charges.
- Pass-through fees.
- Retrieval fees.
- Reserve.
- Software fees.
- Termination(Cancellation) fee.
- Wire transfer fees.
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