Monthly Minimum Fee
A monthly minimum fee is not an extra fee but rather a minimum amount that your merchant account provider requires you to generate each month. If your monthly fees are less than this minimum, then you are charged the difference. For example, if you have $20 in fees in a given month, and your account has a $25 monthly minimum on it, you will be charged an additional $5 to meet the monthly minimum.
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
- Surcharge / Partially & Non-qualified Fees
- Application / Setup Fee
- Reprogramming Fee
- Chargeback / Retrieval Fee
- Annual Fee
- Cancellation or Termination Fee
- Hidden Fees or Junk Fees
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