Re: Jan 13, surcharge fees can apply
12-29-2012 09:02 PM
I have a small business. We get what I am told is a pretty good rate for accepting credit cards. We process through our local bank who we have a good relationship with. Our fees average 1 1/2 to 2 % of the sale. We are charged the higher percentages when rewards cards are used. These fees amount to between $400 and $800 a month. Not a small sum but not enough to make me stop accepting them or risk alienating customers by charging them a fee, either. It's a cost of doing business. There is a list of the charges on the monthly statement that categorizes the transactions into about thirty different tiers. I would have no way of knowing (by looking) what type card fee I will be charged for a particular card and the machine doesn't tell me, either.