Hi,

When you are told the fees when signing up for a merchant accout, the most important thing for you to understand is the monthly minimum.

This monthly minimum is sometimes confused as the amount of total sales.

Fore example, say they say your montly minimum is $25.00, this does not mean $25.00 in sales, this means $25.00 in transaction fees:

So if your statement fee is 10.00 and your gateway fee is 15.00, so far you are at 25.00 in monthly charges, plus the per transaction fee (2.9% +.35 in most cases)

BUT......

if you have not processed enough sales that add up to $25.00 in transactions charges, this will be added on to your monthly fee. for example: The whole month you had 5 sales for 55.00 each, so if your transaction fee is 2.9% +.35 then that only equals 1.95 a order for a total of $9.75. Well you did not make the requirement of $25.00 minimum, so that difference is added to your statement

so if you have a 10.00 statement
15.00 gateway
and 15.25 for the transaction fees you did not meet is added.


Now just imagine if your merchant has a 100$ monthly minimum or $50.00 month minimum, that is a lot of extra fees!

hope this helps a little.