Are You Losing Money on Merchant Account Fees? We Can Find It
How often are you reviewing your merchant credit card statements? In our experience, most businesses do this monthly to confirm that their monthly effective rate is consistent. However, there’s much more in these statements that need your attention, and our merchant services audit solutions can help. On average, we reduce merchant services fees by 8-40% for clients!
You Don’t Have to Be Credit Card Processing Cost Experts—We Are
When you go through your monthly statement, you likely find it confusing. There is much complexity in each transaction and it requires the proper tools to ensure you’re capturing the lowest fees possible.
You don’t have to be an expert; you just need to know one. Our team includes industry experts who previously worked inside of the credit card industry. They know the ins and outs of fees and statements. Now, they can be on your side, analyzing your merchant statements to optimize all cost and fees, without changing your processor.
About Our Merchant Services Audit: How We Save You Money
Most of our clients negotiate good processing rates, but that’s a small part of the merchant fees you pay. These other fees may be unknown to you, but they are affecting your bottom line.
Our audit entails a comprehensive, in-depth evaluation of over 16 unique cost categories. Those include:
- Interchange fees
- Assessment fees
- Network fees
- Communications costs
- Transaction costs
- Account on file costs
Interchange Rate and Other Variables
Auditing merchant accounts require expertise and understanding. Every credit card network has its own interchange rates, and those are highly variable, depending on several factors. Other elements impact your merchant account fees that aren’t easy to catch unless you’re an industry expert.
What Variables Impact Your Interchange Rate?
- Type of credit card (credit, debit, rewards, etc.)
- How you process the payment (wireless, chip, swipe, etc.)
- Your business type (processors view some businesses at higher risk)
- When the batch settlement pays
What Additional Variables Impact Your Credit Card Processing Fees?
- Processor fees
- PCI compliance
- Junk fees (statement, monthly funding, or service fees)
- Surcharge fee application
With this thorough analysis, we can get you the lowest cost for your credit card merchant fees.
The Audit Process
The process itself is simple. The initial review starts with the last four months of recent processing statements. We conduct a thorough review of your complete processing situation. Once complete, we will host a game plan call to share the anticipated savings and the strategies to realize those savings. Lost & Found will carry out the strategy with no action items from the client, however, as the client, you always have the final say. The final step is the results review and verification. Once all approved strategies are in place, we will walk through the statements to illustrate the improvements and quantify the savings!
Why Choose Us for a Merchant Services Audit
- On average, we eliminate 8-40% of fees.
- A team of industry insiders is now on your side.
- You don’t need to change processors.
- Most clients invest less than 1 hour from start to finish.
- Over 80% of our customers improved their cash flow post-audit.
- There is simply no downside and $0 investment.
- We don’t get paid until you realize incremental cash flow from fee reduction.
Ready to Find More Money?
Contact us to discuss a risk-free credit card processing fee audit.