Best Answer

When setting up your merchant account, you need to be aware of all set-up and ongoing fees before proceeding. Ask your provider about each and every fee, whether it is an ongoing fee, and what it will end up costing you. Many times, a merchant account that seems cheap to set up can end up being very expensive once all of the fees are added to your account. Also, be very careful of hidden fees that your provider did not disclose to you before you began the set-up process. The most common set-up fees include the application fee, set-up fee, hardware, software, and rolling reserve/security deposit. The most common ongoing fees include discount rates, per transaction fees, daily batch fees, authorization charges, monthly statement fees, monthly minimum fees, monthly gateway fees, chargeback fees, fraud protection fees, and annual renewal. There are also a variety of hidden charges that are often not spelled out for you, so be sure to read every word of your contract before signing up. Set-up fees The application fee is charged by most merchant account providers to cover processing costs, and runs $50 to $150. The set-up fee is usually charged for hardware and software installation, and depending on your provider, can cost nothing up to $300. The hardware includes the terminals you will need to run credit cards, and will cost you about $500 to $1,500 to purchase or $15 to $50 a month to lease. The software allows you to send credit card transactions through your account provider, and usually runs $400 to $800. A security deposit is common for start-up or high-risk businesses, and usually totals one month

User Avatar

Wiki User

โˆ™ 2005-01-12 21:17:15
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: What are all the different fees that you are obligated to pay credit card companies including set-up fees and monthly fees as well as commissions?
Write your answer...

Related Questions

Are all companies in Trinidad obligated to have a safety policy?


Are companies obligated to have more than one item at the advertised price?


Car insurance criteria for cancels due to accidents?

A car insurance company can cancel your policy for many reasons and they are not obligated to provide you with insurance. Different companies have different criteria for cancellation of a policy due to accidents.

Do you say obligated with or obligated into?

Neither. Always " obligated to " do something.

Your parents died leaving a mortgage on the heir property are the heirs obligated to pay the balance of the mortgage?

Yes. If you inherit a piece of property, including a house with a mortgage, you are legally obligated to pay its bills.

Can the same creditor garnish your wages from two different employers?

Yes, You obviously live in a state where wadge garnishment is legal.In theese states there are no limitations as to how many employers the creditor can send levys to.These companies are legally obligated to comply with the court order.

Do you as employees get paid Labor Day?

It all depends on your company/firm. They are not obligated to give you a day off on a holiday nor pay you but some companies/firms do.

Which country is not in the eurozone Sweden Finland or Estonia?

Three EU member states have exceptions (that is, states not obligated to join the Zone), including Sweden

Are all companies obligated by law to have environmental policy?

Unless certain states impose such a restriction on corporations within their state, I don't believe that companies are required to have a PUBLISHED envoronmental policy. It is sufficient that they MUST comply with prevailing environmental law.

What does obligated mean ligated mean?

obligated means that someone feels obligated like they need to do something like you feel like you don't have a choice

If a man fathers 10 children from 10 different women is he still obligated to pay child support?

Are you thinking that promiscuous irresponsibility provides some kind of legal immunity? Yes, he is obligated. Whether he is able is another question.

What is the meaning of obligated?

If you are obligated to do something, you are bound by a promise, legal duty or point of honour to do it.

If your given a quote are you obligated to use the company that quoated you to get the repairs done?

no you are not obligated to have it fixed by them.

What does ethically obligated mean?

before introducing frogs eggs to the class the teacher is ethically obligated to what?

What radar detector company pays your ticket if you still get one using thier detector?

Although some companies have made this claim, none are actually liable or obligated to pay for your ticket.

How do you use obligated in a sentence?

"Since I had broken his leg, I felt obligated to go and take care of him in the hospital."

If you apply to a College are you obligated?


What is the Definition of obligated?

of Obligate

Is Macy's obligated to email a response after an interview?

No one is obligated to contact you in any way. Though it would be rude not to do so.

The Caribbean is obligated to help Hati earthquake victms?

No-one is obligated to help anyone else, but it would be the right thing to do, because alot of people that would like to help, cant because they are either in a different country, or they dont have the money. So you are the one who decides how you want to answer this question.

Are all companies obligated by law to have health and safety policy?

Obligations of law depend on what country you are in. In the US, there is no legal obligation for a company to have a Health and Safety Policy. There is a legal obligation to provide a safe and healthful workplace.

What age do different sex siblings have to get there own bedroom?

Their is no age in which a parent is legally obligated to separate his/her opposite sex children. It is just a rumor that is often said.

What if name was changed on mortgage afer death of deceased?

The name on a mortgage cannot be changed. A different person can become obligated on the mortgage if he guarantees it or the mortgage is refinanced.

When are Muslims obligated to pray at the mosque?

Muslim men are obligated to pray at the mosque on Fridays. They prayer is called Jumaa', which means Gathering or Mass.All Muslims are obligated to pray at least 5 times a day, though not necessarily at the mosque.

Can child support from a divorced father be stopped if the underage daughter becomes pregnant?

No. Child support is an active order of the court and the obligated parent should not cease paying as ordered regardless of the change of circumstances. To do so would leave the obligated parent in a position to be charged with contempt of a standing court order and subject to penalties including the possibility of incarceration.