Bank Credit Card Processing

In my part of the world, I find that bank credit card processing (using your local bank) for credit card processing has a major plus and a major minus....the plus is next day settlement into your bank account. The big minus is banks are keen on annual fees, PCI fees that are outrageous, Breach Insurance fees, and leases....and they have almost no incentive to reduce any of these fees...so the next time a credit card processing rep comes in at least get a rate comparison and you may really for the first time notice what you are paying your so called friendly bank...then, insist the salesperson give you an interchange quote....make sure and find out how many basis points are being proposed to be added to the interchange (cost) and the per transaction cost.

Trade journals note that overall processors make 40 per cent of their revenue from junk fees.