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Hidden
Fee #3: Batch fees
If
you're new to credit card processing, here's how
it works:
Every
day, you collect all the transactions authorizations
in your terminal. Then, at the end of the day
(or the end of a shift), you send them all at
once in for processing to the bank, so the money
can be sent to your bank account.
That
amount you send in all at once is called a
"batch."
Many
credit-card processors charge you an extra batch
fee of up to $.50 per batch. This can add up to
$ 180 over the course of a year.
For
example:
$0.75
batch fee x 30 shifts/month x 12 months =
$270.00 extra per year in just one more hidden
fee you didn't know about.
On
the other hand, my company doesn't charge you
batch fees.At all Ever. Period.
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