Get Free Merchant Processing Statement Rate Analysis – Find Ways To Save!

It is very critical to have your statements analyzed and understood so that you can get the best rates possible. Businesses have unique needs, and if your current provider is not helping you understand your statement, it is time for a change.

Merchant Statement Analysis

Moneybox Merchant Services will help you understand your statement, work with you to find savings, and offer you processing. If you accept, we are only too happy to have you as a customer. If not, you can use this information to negotiate better terms with your current provider.

Most companies sign you up and forget you. We are here to help you get the best service and pricing that enable you to reach your business goals. We do in-depth Merchant Statement Analysis to find ways for you to save on your monthly merchant processing costs.

You need to know what you are getting charged for. Many big-name processors embed a lot of hidden fees, and it can be challenging to understand how they charge and hide them on your statement. The good news for you is that with the help of our proprietary system, we can find all the hidden fees and help you reduce your costs.

Many processors do not rerate customers; they just set and forget them. We work with customers and examine their statements over time to optimize their billing and help them save money. We enjoy engaging with customers, helping them save money, and building long-lasting relationships.

We ask that you upload a few statements so that we can review your business’s credit card processing statements to understand the fees charged. Because there are many hidden fees we try to figure out the percentage rate applied to each transaction. The analysis identifies potential areas for cost savings by comparing those rates to industry standards and other providers. This allows the business to negotiate better terms or switch processors if necessary. 

Key points about merchant statement rate analysis:

• What it analyzes: This analysis focuses on the different fees listed on a merchant statement, including the interchange fees, assessment fees, and the merchant discount rate (MDR), essentially the percentage charged per transaction. 
• Calculating the “effective rate”: The most important metric is the “effective rate,” which is calculated by dividing the total fees charged by the total sales volume. This gives a single percentage representing the overall cost of processing credit cards. 
• Why it’s important:
  • Cost savings: By comparing your effective rate to industry benchmarks, you can identify if you are paying excessive fees and potentially negotiate for better rates with your current processor or switch to a different one. 
  • Error detection: Reviewing your statement can help catch any errors or discrepancies in charges. 
  • Understanding transaction types: Analyzing the statement can reveal which types of transactions are incurring higher fees, allowing you to optimize your payment processing strategy. 

How to perform a merchant statement rate analysis:

• Gather your statement: Obtain a recent merchant statement from your payment processor. 
• Break down the fees: Identify each fee listed on the statement and understand what it represents. 
• Calculate the effective rate: Divide the total fees by the total sales volume to get your effective rate. 
• Compare to industry standards: Research average rates for your business type and industry to see if your fees are competitive. 
• Analyze transaction details: Look for patterns in transaction types and their associated fees to identify areas for improvement.