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Monthly Minimum Fee
After signing up with a Merchant Service Company for Credit Card Transaction the first thing you should do is check your first credit card statement. I received a call from a Merchant just yesterday that has been processing for over a year now. He just started looking at his statements and realized he was being charged a monthly minimum fee since he never used his account. This is a standard credit card fee that was disclosed to him in writing. First thing he said was he didn’t think he should have ever paid the fee and he felt it was an excessive fee. Moral of the story check your statement within the first 45 days of processing to see what you are actually paying. Besides, if you don’t think you should be paying for something and you never look at your statement, it doesn’t necessarily mean you are not paying for it.