And Our Final installment on this topic, continuing from last weeks blog, let’s review some more things you need to learn about – not all may apply to you – but many will – so read on.
Monthly and other Misc Fees
CUSTOMER SERVICE / STATEMENT FEE – Monthly fee assessed for overall maintenance
and support of your Signature account
TIP: Merchant accounts can have so many names for the monthly fee we couldn’t possibly list them all.
CHARGEBACKS – Processing fee for any chargebacks received in the month
DEBIT ACCESS FEE – The flat-fee charged for accepting debit cards.
WIRELESS TERMINAL FEE – The flat-fee charged for each wireless terminal you use.
HELP DESK – The charge for each help desk call you make to the processor’s help desk.
AVS FEE – Address Verification Service inquiry fee.
This fee MAY appear in the Authorization Fees section
Note that if any of these fees are item-related (such as CHARGEBACKS), then you will see an item count in the center column.
Summary of Monetary Batches – Dollar amounts and the process date of each batch you process, and all chargeback / adjustments for the month. The ‘R & C’ column is for Returns and Corrections, and is not commonly used. This will usually be 0. Note also that debit transactions may appear as separate batches. At rare times you’ll see reserve account and daily discount information posted here. If you have anything but a zero here – it’s time to ask your processor to explain it in detail to you.
Contact Merchant Zoom today and we’ll consult with you on your best options.
Headquartered in Pinole California, MerchantZoom, Inc. was founded by Wally Arakozie. Previously employed by one of the largest merchant processing companies here in California for nearly a decade. Since the company’s beginnings MerchantZoom, has grown into a reputable national merchant provider. Along with delivering state of the art technology and competitive rates, MerchantZoom, thrives on personalized local customer service and support. In order for your business to ZOOM!
759 Appian Way Ste 1A Pinole, CA 94564
Content Release Date May 22, 2017 – MerchantZoom Inc.
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