The majority of processing costs are predictable costs that are charged on every transaction or every month. This article addresses the incidental fees that happen more infrequently.
We constantly monitor market rates. Our market database uses competitive intelligence to discover rates available on the market to ensure that we are offering competitive rates. Below is a table showing a comparison of what TransparencyX charges against what we're finding to be the latest rates on the market. Below the table are descriptions of these fees and how to avoid them.
|Electronic AVS fee (per transaction)||$0.01||$0.01|
|TIN/TFN invalid fee (per month)||$9.95||$9.95|
|Chargeback fee (per chargeback)||$10||$20|
|ACH reject fee (per ACH reject)||$20||$25|
|PCI non-validation fee (per month)||$15||$15|
Electronic AVS fee
The address verification system (AVS) is the method of verifying a cardholder's address (often by confirming their ZIP code) during a transaction. This typically occurs for e-commerce or keyed transactions so you can avoid this fee by swiping a card rather than keying it in. If you have to key in a transaction, however, the AVS fee will be charged.
TIN/TFN invalid fee
This occurs when an incorrect taxpayer identification number (TIN) or tax file number (TFN) is used to set up a merchant processing account. You can avoid this fee by ensuring this information is accurate when completing your merchant processing application and by notifying your ISO and/or processor of any changes to your TIN/TFN as soon as they happen..
A chargeback happens when a cardholder’s issuing bank refunds the cardholder by reversing a transaction that has already been processed. There are a number of reasons for this to occur but most of them are initiated by the customer. Please visit our page on chargebacks for more details on how to prevent them.
ACH reject fee
An ACH reject occurs when a processor attempts to withdraw processing fees from a merchant's bank account but is unable to do so. Typically this occurs because there are insufficient funds in the account. You can prevent this by using your previous month's fees charged as an estimate for the minimum amount to ensure is in your bank account for the current month.
PCI non-validation fee
The credit card industry and their security council called the PCI council maintain a set of security standards to keep cardholder information safe. It is a merchant’s responsibility to follow all of the proper procedures when handling credit card information. We will help you determine which requirements are applicable to your locations and assist you to complete these compliance steps. The PCI non-validation fee is charged for any month in which a location has not completed these requirements.