What are basis points, interchange and discount rates? Merchant banking is extremely different from the services we use with personal accounts. Even basic terms are often so foreign to many that they present huge stumbling blocks. Do you feel you are paying to high of fee’s with a service company? Do you know what to look for or are you just blindly following everyone else in your industry? Lets get you educated on a few facts to help you make the right choices. For instance, new business owners often find themselves at a loss to explain why they intake less than they actually charge with credit transactions. Fortunately, these useful definitions of three common terms you ll definitely encounter will help you get a handle on your merchant account. Basis Points When you re trying to compare interest rates or credit card fees, you ll find that they are often very close. In light of the fact that many competing rates vary by less than one percent from one to another, the financial worl
Posted on: Thu, 11 Dec 2014 19:22:08 +0000
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