November 14, 2018 tsmarketing

As a business owner there are several fees associated with accepting payments at their place of business. The most common charges are included in the transactional fees, which consist of an additional percentage and fee paid to credit card processors. This transaction fee is in addition to the direct interchange costs set by credit card associations. Along with direct fees for each transaction processed, there are markup and incidental fees that business owners are responsible for.

Markup fees are also charged to business owners, this is outside of the transaction fees charged by the credit card processor. Some of the markup fees a business owner can be charged include: Monthly Fee, Annual Fee, Statement Fee, Online Reporting Fee, Monthly Minimum Fee, Terminal/Equipment Fee, POS Software Fee, Payment Gateway Fee, PCI Compliance Fee and an IRS Reporting Fee.

Average Pricing for Markup Fees

Monthly Fee: $10 – $99/year

Annual Fee: $0 – $300/year

Statement Fee: $5 – $10/month

Online Reporting Fee: $5 – $15/month

Monthly Minimum Fee: $5 – $15/month

Terminal/Equipment Fee: $5 – $15/month

POS Software Fee: $5 – $15/month

Payment Gateway Fee: $5 – $15/month

PCI Compliance Fee: $5 – $15/month

IRS Reporting Fee: $5 – $15/month

Incidental fees are imposed when certain actions have taken place in relation to customer transactions and the credit card processing account. Examples of incidental fees are Application/Setup Fee, Early Termination Fee, Account Closure Fee, Address Verification Service, Voice Authorization Fee, Retrieval Request Fee, Chargeback Fee, Batch Fee, Non-Sufficient Funds Fee and a PCI Non-Compliance Fee.

Average Pricing for Markup Fees

Application/Setup Fee: $50 – $100

Early Termination Fee: $300 – $1000

Account Closure Fee: $20 – $75

Address Verification Service: $0.05 – $0.25

Voice Authorization Fee: $0.25 – $4

Retrieval Request Fee: $10 – $15

Chargeback Fee: $10 – $30

Batch Fee: $0.05 – $0.30

Non-Sufficient Funds Fee: $20 – $25

PCI Non-Compliance Fee: $20 – $40