merchant fees – those pesky little expenses that you can’t avoid (unless you don’t take credit cards – which would only work well if you’re selling super small ticket items). whatever you do – make sure you do your homework and you scrutinize your bill – because there is certainly money to be saved.
after my shop was open for a few years – i received a new offer in the mail from my actual bank. wow! the fees were much lower than i was currently paying. so i contacted my merchant support provider and found that they would match and BEAT those fees! voila! money saved.
i suggest that especially in these times that you do a little bit of legwork to make sure you’re getting the best rate you can. call a couple competitors and see what they are offering. if you like your provider, let them know you’d prefer to stick with them – but you need a better rate.
finally – are you leasing your credit card terminal? that may be a big waste of money. do a little research to see if you can buy it outright. check Ebay (that’s where i got mine) – you can buy a used one for a great price (especially since sadly, many people have gone out of business). just make sure you are buying a terminal ONLY and not a merchant account! those rates can be pretty outrageous.
save some money today!
