Do You Read Your Monthly Statements?

​As a business owner, you receive monthly statements from just about every company you do business with—or at least they're available online.
The question is...
Do you ever take a few minutes to look at them?
When it comes to your credit card processing statement, it's one of the most important statements you receive each month.
Unfortunately, some processors don't make it easy to find. In fact, sometimes it almost seems like they'd rather you didn't read it.
Why is it important?
Because your monthly statement is often where processors notify you of new fees, fee increases, pricing changes, and other updates to your account. If you don't read it, you may never realize your costs have increased.
 
A Recent Example
If your processor is Global Payments, Heartland, or Worldpay, you may want to take a closer look at your latest statement.

Over the past year, these companies have introduced several new fees under different names, including:

• Annual Reporting Fee
• POS Integration Fee
• Infrastructure Upgrade Fee
• Annual System Enhancement Fee

 
Different names... the same result:
Higher processing costs.
Many of these notices are buried within the monthly statement, making them easy to overlook while you're busy running your business.
The Real Question
It's not whether a processor has the right to change pricing—many processing agreements allow for fee changes with proper notice.
The real question is:
Do you know what you're actually paying?
I've found that most business owners know the rate they were originally quoted, but very few know their true effective processing rate after all the monthly, annual, and miscellaneous fees are added.
I'd Be Happy to Help
As a Certified Payments Professional (CPP) with more than 20 years in the payments industry, I offer a complimentary statement review.
I'll show you:

• Your actual effective processing rate
• Every monthly, annual, and miscellaneous fee you're paying
• Opportunities to reduce your costs
• Whether your current pricing is still competitive

 
There is no obligation—just an honest review from someone who believes business owners deserve to understand exactly what they're paying. We are here to help your business your business. Call Tampa Bay Merchant Service 727-748-4181
 
Ray Harrington
Certified Payments Professional (CPP)
"The question isn't whether you're paying processing fees... it's whether you're paying more than you should."