Entire blog today is Avita's passionate analysis of a merchant statement sent in by Leslie Juencke - MG029. Print off and keep close. The processor here is a major bank -- just sayin':
Ok this one is a little tricky because it is a bill back which means they are charging some stuff one month and some the next. They also do not have amounts on the rewards card, mid qualified cards and non qualified cards -- that is really shady.
What I Can tell you is that they are charging them an annual fee next month so if he wants to avoid that charge they need to sign up asap. They also are not saying how much the annual fee is. It usually runs $100-$200 a year so breaking down to $8 to $15 monthly. So you will save him that right off the bat plus whatever they are charging him for PCI.
As far as his rate they are ripping him off big time on it. They are charging him 1.65% for his qualified credit and debit.
He took $6942 in debit cards and $548 in credit cards.
On his Qualified cards he is paying $131.01 in fees with them. With us it would have only been $49.01.(breakdown Credit $548 x 1.58% = $8.65 plus Debit $6942 x .58% = $40.26)
SAVINGS OF $82! That is just on the qualified rate!
We will also save him $23.53 on his transaction fees (they are charging him 18 cents a transaction --ours is only 5 cents!)
Batch fee: they are charging him 20 cents we charge nothing! Savings on batch fees monthly $5.80.
This guy is really getting taken advantage of.
Total savings on what their statement shows us is
$111!That is almost half of what he is paying! I bet if we could see his mid and non qualifieds we would save him more.
You can also add it the PCI and Annual Fees lets say average about $15 a month!
Tell him he is getting charged a 1.65% for 98% of his cards and our rate is only .58%!
I attached what you sent me along with the application for the split program which this merchant should be on. Even if we put him on a bundled program we would still be killing their rates!
Get this guy signed up and saving money today! This is what makes me mad seeing someone take advantage of someone!
Thank you,Avita Pizano
Office Manager
****************
And you thought credit card processing was boring!
No comments:
Post a Comment