Accepting credit cards is just a part of your business payment processing, but if you’re not careful you may be paying a lot of hidden fees that are best avoided. Fortunately, you can stop getting scammed by these fees if you know what to look for.
Recurring and Interchange Fees
If you’re paying a lot of these, you’re likely paying too much. Interchange fees are added on top of the transaction fees, and many of the recurring fees are nothing but profit. It’s not actually costing the credit card processing companies nearly as much as they’re asking you to pay.
One-Off Fees Are Often Unnecessary
Check your bill for things like setup and terminal fees, along with address verification fees, reprogramming fees, and more. Most of these aren’t even necessary, but they’re added to your bill. They won’t be taken off unless you call up and complain, and sometimes not even then.
Your Bill Should Be Transparent and Easy to Follow
If you’re not sure what your business payment processing company is even trying to say when the bill comes in, it may be time to look for a different company. Transparency is a big thing, and you want to be able to understand what you’re being charged for and why. Many credit card processing companies deliberately make your bill confusing, in the hope that you’ll just pay it and move on.
Rather than continue to pay hidden credit card processing fees and other unnecessary charges, work with a company that doesn’t try to scam you into paying for things you don’t need. For more information, or to get a free quote, visit us at Dynamic Merchant Solutions today. We can help you reduce your credit card processing fees and avoid those hidden charges and scams.