Not all monthly minimum processing fees is the same from one company to another. The standard in the industry is $25.00. What is not standard is how they are calculated. This fee is imposed if your credit card charges (discount rates) do not add up to monthly minimum amount. For example if the monthly minimum is set at $25 a month and the discount fees came to a total of $20, the company will add $5.00 to make up the minimum. Again the way this is calculated and what fees are applied to the minimum is not the same from one company to another. Typically when a merchant processes $1250 in credit card volume at an overall effective rate of 2%, they will meet the $25 monthly minimum processing fee. See below a copy of a statement where this business processed over $10,000 and still there was charge for minimum processing fee of over $24. When shopping and comparing services, don’t just asked about one rate, peel back the onion, look at the total cost and all the fees.
If you have any question about this, please feel free to contact us at email@example.com or call 727-916-7294