Small Business Question

also interested in this. The way we invoice if its not direct despot, the sender pays a fee and we also pay a fee

Quickbooks is another option but fee structure is very similar. You're going to see 1% ACH and 3% credit card is typical.

Chase has sent me offers for CC processing and stated they would beat QBO and heartland but it wasn’t by much. Maybe half a percent at the most. It can add up but I don’t process enough to go through the hassle.

I work in this world.

Interchange fees ( fees set by the cardbrands to pay back the issuing banks and they are fluid depending on cardtype and how its entered) are unavoidable. Square prices on a flat rate system depending on how you take those transactions.

If you are invoicing, that fee is going to be 2.9% and .30 cents per.

They bake their cost in the flat because interchange fees run around 2.5-2.7 % for internet transactions (Invoice).

2 things you can do, find a processor that will price you on an interchange plus pricing structure, and that will save you a little.

Or find a company that will offer a Surcharge fee model or Dual pricing model to pass the fee to your customer to offset those charges.

you can up the cost 3 percent but there are software's out there that will calculate the fees for you so its easier accounting.

Hope this helps!