“Unethical Billing” Posts

Processing Refunds? Beware of Additional Fees

Processing Refunds? Beware of Additional Fees

Unfortunately, unethical Merchant Account Providers are constantly conjuring up new ways to hide fees and make more money off their customers. Part 5 of this series covered one way providers can be deceptive when your business runs returns. In part 12, we will further explore unethical issues related to refunds. Processing Refunds: Recap When you issue a refund, your customer gets back what she paid, plus sales tax, and your business is reimbursed a portion of the fees paid to your Merchant Account Provider. It’s standard procedure for your provider to only reimburse Interchange and not its markup. However,…

Unethical Providers Charge Compliance Fees for Terminals Lacking EMV

Unethical Providers Charge Compliance Fees for Terminals Lacking EMV

Just a little over a year since the liability shift, and there’s a new fee to be had. We know what you’re thinking … ‘how could the payment industry possibly think up another fee?’ Well, some providers are now charging a compliance fee if your business fails to upgrade to an EMV-ready terminal. Surprised? Neither are we. The Trendsetter According to Digital Transactions, National Processing Company (NPC) was the first provider to publicly announce the roll out of this fee. As of January 1, 2017, NPC will begin to charge independent sales organizations and sales agents fees for each…

Improper Merchant Underwriting Directly Affects Your Business

Improper Merchant Underwriting Directly Affects Your Business

To get a traditional merchant account, your business must go through an extensive review process called merchant underwriting. Unfortunately some Merchant Account Providers don’t effectively underwrite businesses, which can lead to issues down the line. Merchant underwriting is completed by an individual or team of risk analysts and typically takes two days to a week to complete, depending on the provider. For businesses needing a quick fix, there are options that don’t require any underwriting — but those have their own drawbacks. More on that later. First, let’s go over what underwriters usually review. Typical Merchant Underwriting Process…

How Credit Card Machine Leasing Companies Hurt Your Bottom Line

How Credit Card Machine Leasing Companies Hurt Your Bottom Line

The right credit card terminal will help you achieve lower rates and protect your business from fraud. It would be silly to opt against using one if you take in-person transactions, so the vast majority of business owners do. Unfortunately, some unethical Merchant Account Providers take advantage of this must-have mentality and lock businesses in with lengthy, expensive leases for credit card terminals. 3 Reasons to Avoid Credit Card Machine Leasing Companies We've identified three major problems with terminal leasing for your merchant credit card processing: Credit card machine leasing companies falsely advertise this option as cost-effective. Unethical providers offer…

How Billback Rate Plans Mislead Business Owners

How Billback Rate Plans Mislead Business Owners

There are a few payment processing rate plans you can choose from, which vary depending on who you decide to work with. In the unfortunate event you work with an unethical Merchant Account Provider, you may end up on Billback or worse, Enhanced Billback. You may hear a few different terms for Billback, such as Enhanced Recover Reduced, blended rate or mixed rate. Regardless, any variation of Billback is bad for business, no matter how appealing it may seem. What’s worse, these rate plans are so confusing you may be on some variation and not even realize it. What…