During the time when your business has been down due to the slow economy and your costs are rising for accepting a card? Yes, your rates and fees you the operater pay may go up, way up depending on the person you do business due to.

One Merchant Services processor announced have been raising their rates by .27%!! It really is a huge increase. But it doesn’t stop right now. I’ve seen several other companies can get on the bandwagon and announce they have risen their rates to. The largest increase I’ve seen significantly has been .45%. So if you were paying 2% you will now be paying 2.45%.

Please keep in your this is not Visa, or MasterCard raising their rates, it is the Merchant Services Processing companies!

Time to make your Statements out!! You ought to have received these previously mail by at present. In the last paragraph on finally page of your statement is where they usually disclose (hide) the rate increase. It may well be a % the minute rates are going up and/or a transaction fee ($.xx) increase. Furthermore, it states that seeking continue to process with the company May 1st you might have agreed to their rate increase.

It may the perfect to shop around for a different Merchant Services Provider if your current company is raising your rates. There are masses of Online Casino & Gaming High Risk Merchant Accounts Services Providers out there that are not increasing their processing rates.

I’m frightened at the number of business or those given the task of the books for companies, who don’t even bother opening their statements anymore! This industry is very broken and the majority of the processors have made their statements so confusing and hard to read, that business owners quit opening both of them. This gives these companies a real easy way to rise rates and fees since all the alerts and communications are on the statements.

I have visited the payments processing industry as a bank account executive (OK salesman, but account executive sounds better) every one of the 9 years. One of many things I’ve learned is there are many of games being played at your expense.

It is crucial to process your cards as efficiently as possible so you can reduce the fees you pay. A lot of the fees as opposed to can be avoided if you exactly what to look to have.