Top Ten Indicators that It’s Time to Shop for a New Credit Card
Processing Company
Number 5:
You have an unreasonable monthly minimum.
This one is also tricky. Generally, monthly minimums are indicative of high
prices, and dishonest service. The exception is a situation when your processor
sets you up with a monthly minimum plan because you absolutely and consistently
process more volume than it takes to pay the monthly minimum. Because they set
you up on this plan, they can waive or discount some other fees. This is
extremely uncommon due to the nature of credit card processing rates. If your
processor has done this, make sure they can explain it step by step. If they
have explained it and you are having difficulty understanding, they are
probably hiding fees yet again. Ask someone you trust who understands
processing, but consider shopping for a new processor.