Credit card processing is a necessity for most businesses, but how can you tell if you’re paying more than you should? Many business owners unknowingly overspend on processing fees due to hidden charges, confusing pricing structures, and outdated contracts.
Here are the key signs you might be overpaying for credit card processing:
1️⃣ Complicated Statements
If your monthly statements are difficult to understand, you might be paying for hidden fees buried in the fine print. Transparency is key—your provider should clearly outline all charges. If they don’t, it’s time to take a closer look.
2️⃣ High Effective Rates
One way to determine if you’re overpaying is to calculate your effective rate. This is the total fees divided by your total sales. If your effective rate is significantly higher than the industry average of 2%-3%, it’s a strong indicator that you’re being overcharged.
3️⃣ Fees That Don’t Make Sense
Are you being charged for PCI compliance, statement charges, or batch fees that aren’t clearly explained? These small charges can add up quickly and may not even be necessary with the right provider. Make sure to question any fees that seem unclear.
4️⃣ Lack of Customization
A one-size-fits-all solution may cost you more than it should. Providers that don’t customize their services to meet your business’s specific needs might be charging you for unnecessary features while failing to offer discounts you could qualify for.
How Titan Business Advisors Can Help
At Titan Business Advisors, we specialize in helping businesses optimize their credit card processing costs. Most of our clients save 50% or more on adjustable rates and fees. For some, 100% savings is achievable by passing fees onto customers.
Here’s how we can help:
- Transparent Pricing: We’ll ensure you understand every charge on your statement.
- Custom Solutions: Tailored services designed to meet your business’s unique needs.
- Free Review: Our complimentary review can identify where you’re overpaying and how much you can save.
Start Saving Today
Take the first step toward reducing your credit card processing fees:
Call us: 949-228-9949
Email us: info@titanbusinessadvisors.com
Schedule your complimentary review now and see how much you could save. Don’t let hidden fees and unnecessary charges eat into your profits. Take control of your credit card processing costs today—your bottom line will thank you!
