Merchant Services / Field guide 02
What does a month of taking card payments cost?
A quoted transaction rate tells you about one part of a card agreement. Your statement, terminal hire terms and payout report show what it costs to take payments and when the money reaches your bank.
Request a callback →What to look for
Three checks to make.
What to have handy
A recent merchant statement and the number of terminals you use. Keep customer card and bank details out of the enquiry.
- Separate fixed and variable charges
List the monthly terminal hire and service fees separately from costs that rise with card turnover or transaction count. Use the same month and sales mix when comparing two offers.
- Trace a payout
Choose a day’s card sales and find the corresponding settlement. Check how fees, refunds or timing differences explain the amount received before treating a difference as an error.
- Check the equipment agreement
A terminal can have its own hire term. Check which machines are still in use, who supplies them and what happens to that agreement if you change processor.
An example in practice
Where the detail matters.
A retailer moves one checkout online but keeps paying for two countertop terminals. Comparing transaction rates alone would miss the rental for the unused machine.
A question to take to your supplier
At last month’s sales volume, what would we pay in total, including terminal rental, and when would those sales be paid out?View the merchant statement → Request a callback →