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Topic review
Author
Message
xkekg34fa
Posted: Fri 10:56, 23 Aug 2013
Post subject: www.vivid-host.com/barbour.htm No Need To Chase
This week, I wanted to do some research on what smaller organizations are facing in terms of credit card processing rates, so I headed on over to Chase Bank to appear into a
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merchant account. I quickly located out that Chase Paymentech utilizes probably the most prevalent credit card processing fee structures - the three-tier technique.
The first tier is referred to as the Qualified Rate, that is when an individual swipes
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their credit card within your retail location in individual.
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This may be the ideal rate, and it can be almost often the 1 advertised by merchant providers to modest companies to lure you in with a low rate.
When a customer is utilizing a rewards credit card or if the card is keyed into your cash register or personal computer instead of getting swiped,
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plan to obtain charged in the second tier, or the Mid-Qualified Rate.
But, here's when your rate seriously starts to skyrocket:
- When your clients gives you a corporate credit card.
- When a customer's address and zip code don't match what's on file.
- When your sales aren't sent by means of the terminal inside 24 hours.
In these situations, you'll be charged the third tier pricing, which is the Non-Qualified Rate of 3.44%. Though Chase clearly indicates what the rates will be at each tier, how will you know which transaction might be charge which rate? The only way
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Three Tough Questions to Ask Chase Paymentech
Chase Bank is trusted by numerous, and they're counting on this trust to dupe you into signing up for a merchant account. By saying "yes", you will literally becoming shopping for an overpriced service.
1. Why are you charging
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me a $100 setup fee?
This is an instant $100 inside the pockets of Chase for no other reason than the truth that they are able to. Do not just hand it over with out asking why.
2. Why are you currently pocketing an additional 1% on all my debit card transactions?
As much as 60%
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which is 1.62%, they'll be pocketing a full 1% from that transaction. This may well not appear like alot, but it definitely starts to add up! They're not genuinely searching out for your tiny small business, are they?
3. Why are you demanding a 23 cent fee for each and every transaction?
Believe of it this way. For just about every four transactions, Chase will probably be taking practically 1 dollar out
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Go ahead and call Chase Paymentech proper now at 800.708.3740 to ask
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them the tough questions. As a hard-working, tiny small business owner, you deserve to know why a person is trying to overcharge you. Just due to the fact you bank with a large corporation does not mean that they're going to give you the top pricing on your merchant account. Do your homework!
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