Processing Rates & Fees

Cancellation or Termination Fee

Almost all merchant accounts have some sort of cancellation or termination fee. There is a significant cost in setting up and maintaining a merchant account for a business, and this fee helps recoup some of the losses should a merchant cancel, especially in the beginning. However, most providers are willing to reduce or eliminate this fee should you have unresolved problems or issues. The cancellation or termination fee should be a fixed amount: Beware of providers that want to charge a variable cancellation fee. For example, some providers will charge you the number of months left on our contract term times the average fees you have been paying each month. Under these conditions you could be liable for thousands of dollars. Check with your provider as to their specific policy.

Other Merchant Account Fees Explained:

• Discount Rate
• Transaction Fees
• PIN Debit Transaction Fees
• Address Verification Service Fee
• ACH Fee or Daily Batch Fee
• Monthly Statement / Support / Service Fee
• Internet Gateway Fee
• Voice Authorization Fee
• Monthly Minimum Fee
• Surcharge / Partially & Non-qualified Fees
• Application / Setup Fee
• Reprogramming Fee
• Chargeback / Retrieval Fee
• Annual Fee
• Hidden Fees or Junk Fees