--- title: 6 Questions to Ask If You Don’t Understand Your Merchant Statements description: A risk analyst shares what he’s learned from evaluating thousands of merchant statements from other payment providers. image: https://blog.payjunction.com/hubfs/BLOG/FEATURED%20IMAGES/merchant-statements-questions.svg --- [tel:1-800-601-0230](tel:1-800-601-0230) 800-601-0230 - Features - Solutions - Developers - [Pricing](https://www.payjunction.com/payments/pricing.html) - Resources [See a Demo](https://www2.payjunction.com/tour-payjunction) Features - EXPLORE PRODUCTS [No-code Payments Integration®](https://www.payjunction.com/payments/no-code-payments-integration.html) [ZeroTouch Terminal](https://www.payjunction.com/payments/smart-terminal.html) [Portable Terminal](https://www.payjunction.com/payments/portable-credit-card-reader-terminal.html) - ACCEPT PAYMENTS [Invoices](https://www.payjunction.com/payments/electronic-invoices.html) [ACH Electronic Checks](https://www.payjunction.com/payments/ach-payments.html) [SmartSurcharge®](https://www.payjunction.com/payments/smart-surcharge.html) [Cards on File](https://www.payjunction.com/payments/store-credit-card-info.html) [Rapid Refunds](https://www.payjunction.com/payments/credit-card-refund.html) [Recurring Billing](https://www.payjunction.com/payments/recurring-payments.html) [Ecommerce](https://www.payjunction.com/payments/ecommerce-merchant-services.html) [Mobile App](https://itunes.apple.com/us/app/payjunction/id1324839420?ls=1&mt=8) - EXPLORE CAPABILITIES [Overview](https://www.payjunction.com/payments/payment-processing-solutions.html) [Integration Marketplace](https://integrations.payjunction.com/) [Remote Signature](https://www.payjunction.com/payments/signature-capture.html) [Multi-Location](https://www.payjunction.com/payments/enterprise-payments.html) [Sales Reports](https://www.payjunction.com/payments/sales-reports.html) [Search and Export](https://www.payjunction.com/payments/transaction-history-search.html) [Customization](https://www.payjunction.com/payments/custom-payment-software.html) Solutions - [Veterinary Streamline payment workflows and get paid faster with up-front deposits and payment schedules for high-cost procedures. 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We can relate to this even though our risk department reviews hundreds of merchant statements every month. Our combined years of experience analyzing merchant statements have allowed us to identify the following six questions which we encourage every business owner to consider. Rather than surrender to the complexity of your merchant statements, do what’s best for your business and seek answers to any questions you have. Not doing so could cost your business thousands of dollars in hidden fees and [unethical billing](https://blog.payjunction.com/tag/unethical-billing/). ## Payment Processing Demo Schedule 15 minutes with a payments expert Get a customized PayJunction product walk-through Understand requirements and pricing Determine your SAVINGS! GET DEMO NOW 1. ## Do you understand your merchant statements? If you are looking at your merchant statements and don’t have a clue what they say, something is wrong. Don’t accept being in the dark. The quickest way to lose money is to not know what you are paying for. If you can’t understand your merchant statements, you should seek clarity right from the source. 1. ## Will someone at your processing company answer your questions? You don’t understand them on your own, but don’t worry! Someone in customer support will happily explain your statements to you in detail, right? In a perfect world, the answer would be “yes.” But we don’t live in a perfect world. If you can’t find anyone who can explain your merchant statements to you, odds are there’s something in there your provider doesn’t want you to know about. 2. ## What type of rate plan are you on? With [pricing options](https://blog.payjunction.com/best-credit-card-processing-plan/) ranging from Flat to Tiered and Interchange-plus, it’s important to know which plan you are currently on. Different business types benefit from different plans, and being on the wrong setup could cost your business thousands of dollars annually. Furthermore, you could take on unnecessary risk with the wrong processing setup. For instance, on Interchange-plus pricing, your provider has to determine whether you’re on Mail Order/Telephone Order ([MOTO](https://blog.payjunction.com/moto-processing-definition)) or Retail setup. With MOTO, transactions are expected to be keyed-in, so card issuing banks might chargeback swiped transactions, given that the account is not set up for this transaction method. Once you know which rate plan you are on, it’s time to dive into your statement details. 3. ## Can you identify where the markup is on your statements? Let’s say you are currently on an Interchange-plus pricing plan and your rate is 0.90% of the volume + a $0.25 authorization fee + a $0.35 batch fee + a $25 monthly fee. Does the format of the merchant statement make it easy for you to find where these fees are located? Are you able to differentiate between your provider’s markup, the Interchange (or wholesale cost) and pass-through fees? If so, you’re now able to evaluate your rates. 4. ## Are your rates consistent? You know what you are supposed to be charged monthly, but are your rates [going up](https://blog.payjunction.com/interchange-criteria/)? A common practice of unethical providers is what we call “The Creep.” Some providers will slowly increase your rates until you notice. When you are dealing with percentages of a percent, such a small change could potentially go unnoticed indefinitely. Let’s say you are processing $40,000 a month at a quoted rate of 0.30%. Unbeknownst to you, your provider has increased your rate by 0.03% for the past six months. Not only has your provider effectively stolen $252 from you, but its rates have increased by 60 percent since you started processing. Another way providers can increase their profits is by charging [unnecessary fees](https://blog.payjunction.com/merchant-service-fees-unethical-billing/). 5. ## Can you spot any fees that look out of place? If you do not have a trained eye, you could be paying all sorts of hidden and unethical fees. A few keywords to keep an eye out for on your statement are: [Billback](https://blog.payjunction.com/billback-unethical-billing/), EIRF, PCI, Monthly Funding Advantage and [Non-EMV Enabled](https://blog.payjunction.com/emv-compliance-fees/). Another helpful trick is to look for round numbers ($10, $25, $99) or numbers ending in 0.99 or 0.95. If you come across any of these, or anything else that appears to be out of place, it’s in your best interest to have your current statements reviewed by a third party. The vast majority of merchant statements are, by design, incredibly difficult to read and understand. If you can’t make sense of them or obtain any help from your provider’s support team, then chances are that there is something unsavory in your statements. When dealing with your money, it is paramount that you partner with [companies that value transparency](https://blog.payjunction.com/ethical-credit-card-processing-why/), integrity and that always keep your best interests at heart. ## Receive a free statement analysis. [![MAKE SENSE OF MY STATEMENTS](https://no-cache.hubspot.com/cta/default/635739/c29b8458-f501-4f57-883f-44c0ecd57e58.png)](https://cta-redirect.hubspot.com/cta/redirect/635739/c29b8458-f501-4f57-883f-44c0ecd57e58) Did any of the above advice help you spot something fishy in your current merchant statements? If so, share it in the comments section below; we’d love to help you weed out any unethical billing practices. [Rates](https://blog.payjunction.com/topic/rates) [Transparency](https://blog.payjunction.com/topic/transparency) --- ##### [![5 Powerful Productivity Tips Your Employees Need to Know About](https://blog.payjunction.com/hubfs/BLOG/FEATURED%20IMAGES/productivity-tips.svg) 5 Powerful Productivity Tips Your Employees Need to Know About](https://blog.payjunction.com/productivity-tips) ##### [![When to Force vs. Manually Authorize and Capture Funds](https://blog.payjunction.com/hubfs/BLOG/FEATURED%20IMAGES/authorize-and-capture-force.svg) When to Force vs. Manually Authorize and Capture Funds](https://blog.payjunction.com/authorize-and-capture-force) ###### About Author ![Picture of Casey Russell](https://blog.payjunction.com/hs-fs/hubfs/PayJunction%20Logo%20Cropped%20-%20Vertical%20Grey.png?width=200&height=200&name=PayJunction%20Logo%20Cropped%20-%20Vertical%20Grey.png) ### Casey Russell Casey Russell is a risk analyst for PayJunction. He analyzes merchant statements to detect unethical billing and savings. ###### Related Posts ## [![How to Calculate Your Credit Card Processing Effective Rate](https://blog.payjunction.com/hubfs/BLOG/FEATURED%20IMAGES/how-to-calculate-your-credit-card-processing-effective-rate.svg) How to Calculate Your Credit Card Processing Effective Rate When a business is considering taking credit card payments, there are several questions that should be answered before they select a partner, including the following:](https://blog.payjunction.com/credit-card-processing-effective-rate) ## [![Why We Care About Being an Ethical Credit Card Processing Company](https://blog.payjunction.com/hubfs/BLOG/FEATURED%20IMAGES/ethical-credit-card-processing-why.svg) Why We Care About Being an Ethical Credit Card Processing Company Read enough about PayJunction’s company culture, and it’s clear we prioritize long-term relationships over short-term profit. That’s not just a nice-sounding statement, it’s what we practice every day with our customers.](https://blog.payjunction.com/ethical-credit-card-processing-why) ## [![How to Eliminate Your Payment Gateway Bill](https://blog.payjunction.com/hubfs/BLOG/FEATURED%20IMAGES/payment-gateway-bill-e-commerce.svg) How to Eliminate Your Payment Gateway Bill Setting up your credit card processing can certainly be confusing. There are numerous middlemen involved and, depending on whether you sell your goods through a brick-and-mortar store or online, you might have to familiarize yourself with different setups.](https://blog.payjunction.com/payment-gateway-bill-e-commerce) ## Meet a Payment System You’ll Love - ###### FEATURES [No-code Payments Integration®](https://www.payjunction.com/payments/no-code-payments-integration.html) [ZeroTouch Terminal](https://www.payjunction.com/payments/smart-terminal.html) [Portable Terminal](https://www.payjunction.com/payments/portable-credit-card-reader-terminal.html) [Invoices](https://www.payjunction.com/payments/electronic-invoices.html) [ACH](https://www.payjunction.com/payments/ach-payments.html) [SmartSurcharge®](https://www.payjunction.com/payments/smart-surcharge.html) [Cards on File](https://www.payjunction.com/payments/store-credit-card-info.html) [Recurring Billing](https://www.payjunction.com/payments/recurring-payments.html) - [Ecommerce](https://www.payjunction.com/payments/ecommerce-merchant-services.html) [Customization](https://www.payjunction.com/payments/custom-payment-software.html) [Remote Signatures](https://www.payjunction.com/payments/signature-capture.html) [Rapid Refunds](https://www.payjunction.com/payments/credit-card-refund.html) [Multi-Location](https://www.payjunction.com/payments/enterprise-payments.html) [Sales Reports](https://www.payjunction.com/payments/sales-reports.html) [Search and Export](https://www.payjunction.com/payments/transaction-history-search.html) [Mobile App](https://itunes.apple.com/us/app/payjunction/id1324839420?ls=1&mt=8) - ###### BUSINESS SOLUTIONS [Auto Dealers](https://www2.payjunction.com/automotive-merchant-services) [Veterinary](https://www2.payjunction.com/payment-processing-veterinarians) [Dentistry](https://www2.payjunction.com/payment-processing-dentists) - ###### RESOURCES [Product Overview](https://www.payjunction.com/payments/payment-processing-solutions.html) [Integrations](https://integrations.payjunction.com/) [Blog](https://blog.payjunction.com/) [Guides](https://guides.payjunction.com/) [Support](https://support.payjunction.com/) [Service Status](https://status.payjunction.com/) [Tutorials](https://blog.payjunction.com/tag/pj-university/) [API](https://www.payjunction.com/payments/payment-api.html) - [Trust Center](https://trust.payjunction.com/) [Request a Demo](https://www2.payjunction.com/payjunction-demo) [Pricing](https://www.payjunction.com/payments/pricing.html) [About Us](https://www.payjunction.com/payments/about.html) [Careers *HIRING*](https://www2.payjunction.com/careers) [Press](https://media.payjunction.com/) - ###### RESOURCES [Integrations](https://integrations.payjunction.com/) [Guides](https://guides.payjunction.com/) [Tutorials](https://blog.payjunction.com/tag/pj-university/) [API](https://www.payjunction.com/payments/payment-api.html) [Request a Demo](https://www2.payjunction.com/payjunction-demo) [About Us](https://www.payjunction.com/payments/about.html) [Careers *HIRING*](https://www2.payjunction.com/careers) [Press](https://media.payjunction.com/) [Trust Center](https://trust.payjunction.com/) [Service Status](https://status.payjunction.com/) - ###### BUSINESS SOLUTIONS [Auto Dealers](https://www2.payjunction.com/automotive-merchant-services) [Veterinary](https://www2.payjunction.com/payment-processing-veterinarians) [Dentistry](https://www2.payjunction.com/payment-processing-dentists) ##### 800-601-0230 SIGN UP FOR OUR NEWSLETTER  Become a better advocate for your business. 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