This just stinks, Obama did such a good job of getting rid of card fees for cosumers that now the processors are just going to dump them on us and we really don't have much choice, I barely have a guest that does not use SOME type of reward or cash back card and we pay higher fees on those, swiped or not
I was looking over some numbers the other day (yah right after bankruptcy court) and was horrified at the "total" I pay over a year for these fees, it doesn't hurt that much when you only look at it montly ... but when you look at the annual total - gulp.
I used to sell cc processing so I know I have a good rate (but it still suxx) but for those of you that have not had a rate review with a new processor I recommend you do so .... and don't agree to montly minimums or any junk fees, there should only be your batch settlement fee + your per transaction fee - and look CLOSELY at Tier 2 and Tier 3 (like rewards cards or non swiped cards for those of you that process advance deposits)
If you have a machine that can process cards as DEBIT and the guest gives you the option, then use that, your fees are MUCH lower .....