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What Merchant Service Rates to Expect

Merchant service rates can be tricky. It is possible for the same merchant service vendor to offer different merchant processing rates to each and every customer. In order to understand what merchant processing rate you should be paying for your small business account, here are some fees you can expect to deal with:

* A transaction fee is a flat fee charged with every transaction ranging in the dimes.

* An authorization fee is charged whether or not the transaction is accepted or denied and your merchant service rate should give you this fee up-front.

* The monthly minimum fee is how much you pay for fees each month. This is the line item you should look closely to when choosing a company.

* Your statement fee is charged every month for your total transaction for the month.

* A discount rate is another flat rate that is taken out of each transaction. You can expect .85% to 8% for this rate.

* Termination fees are what you pay if you end the relationship. Similar to cell phone services.

These are just some of the fees that may be included in your merchant services rate and areas for you to review before you find the right merchant account provider.