Why Monitoring Your Credit Card Processing Statement Is Critical

If you want a fee reduced or even removed, you can call your credit card processor and just ask. Most of the time they are willing to comply. Why not?… after all, it makes you happy because you just checked off a box on your to do list and made you feel like a winner! You probably thought, “How hard was that?”

Falling right into their playbook, you are on to your next task and this one is now in your rearview mirror. Most likely, this was your first rodeo while it was their ten thousandth. They do this all day, every day and have for years. There’s a reason their company makes billions every year, and it is not because they just roll over.

So, let’s assume you just found a new bogus fee like an “Interchange Clearing Fee” that was costing you .15% like the one below…

Again, they say to you, “No problem,” and remove it to appease you.

Fast forward a few months and now you have a “Settlement Funding Fee” like the one below…

It is also costing you .15% – only this one has been on your statements for a couple of months. Now, they may try to appease you again, and try again next month. Or they may say, “Sorry, this is a fee we cannot remove.” Or worse, they will point you back to your merchant agreement and say, “Read page one.” (Which states they can increase your fees and add NEW FEES for any reason.)

Sadly, it gets worse!…

They will also point to a clause like the one below that says by continuing to use your merchant account after 30 days, you are agreeing to the new or increased fees, so by agreeing to these new fees, they now become part of your agreement going forward.

In short, you have 30 days to catch the new or increased fees and file a dispute to get any monies back, and more importantly, to make sure they are not part of your agreement moving forward.

Enough of the bad news; here’s the good news! – weAudit stops credit card processors dead in their tracks. This is why monthly monitoring is so critical. We catch the overbillings and get the money returned and ensure that you do not get stuck with any bad deals moving forward. And our fees are a small fraction of what we get you back.

As Kevin Harrington from Shark Tank said, “This truly is a no-brainer!”

He also said, “weAudit is the only company that EVERY company needs.”     

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