How Find All of The Hidden Fees in Your Merchant Account

image of a female business owner who if frustrated with her merchant account statement

Finding The Cost of Your Merchant Services Confusing?

You're not alone. Many business owners struggle to decipher the complex fees and charges associated with credit card processing. Between transaction fees, monthly service charges, and hidden costs, understanding your merchant service statements can feel like navigating a maze. However, gaining clarity on these expenses is crucial for optimizing your payment processing and reducing unnecessary costs. Through our professional auditing services, you can break through the complexity, gain transparency, and make informed decisions that enhance your business's well-being.

Take The Frustration Out of Your Processing Costs

Did you know that the majority of businesses are overpaying for credit card processing services? In fact, 82% of the statements we've audited could cut their fees by more than 50%. This startling statistic underscores the importance of regularly reviewing and auditing your payment processing statements to identify potential savings. By thoroughly analyzing these statements, businesses can uncover hidden fees and negotiate better rates, ultimately improving their bottom line. Taking the time to audit your credit card processing fees can lead to significantly reduced costs and more efficient financial management.

The Difference Between a Statement “Analysis” and “Audit”

If you have been running a business for any length of time, you have probably had a credit card processing company offer to provide a ‘free statement analysis' that promises to show you how much you can save by switching your services. The trouble with allowing a processor access to your statement is that they have no interest in showing you how much you can actually save. Their only goal is to show you a report that tricks you into believing that you will save money if you change your credit card processing services. Don't fall for it! We have heard countless stories from business owners who were duped into switching, only to find that their new processor is more expensive, has terrible customer support, and that they are locked into a contract that will cost them thousands to get out of before the service term expires.

“Never accept a “free statement analysis” because there is always a catch!“

A “Statement Audit” is Different for Three Reasons:

An Statement Audit is conducted by a professional who is not trying to get you to switch your credit card processing services. Their only goal is to provide you with accurate information on your processing costs.
A Statement Audit is not free, which is important because the cost of the audit is the only obligation you are agreeing to. There will be no back-end sales pitch trying to convince you to do something that isn't in your best interest.
A Statement Audit is much more in-depth. Companies that provide a “free analysis” or “free cost consultation” are notorious for withholding information that would allow you to act on your own to achieve savings. With an audit, you get everything you need to know to cut your fees to the bare minimum, without any ties to splitting savings with anyone or any obligations to switch your processing services.

Don't Wait to Audit Your Merchant Account

Why should you get a statement audit today? Because it's likely that you are being overcharged without your knowledge or consent, and it could get worse. A recent Supreme Court decision may remove much of the government's ability to regulate the payments industry. This could lead to an avalanche of new fees quietly being added to your processing costs, so it's important to chop away excess fees now so that attempts to add new fees later will be blatantly apparent.

A comprehensive statement audit will reveal hidden charges, inflated rates, and other discrepancies that are costing your business more than necessary. By identifying these issues early, you can negotiate better terms, switch to more cost-effective service providers, and streamline your financial operations. Additionally, regular audits help ensure compliance with industry standards and protect your business from potential mistakes in your transaction fees. Don't wait for these costs to accumulate—take action now to secure a more profitable future for your business.

How Much Does an Audit Cost?

Option 1 – Basic Audit / $199

With this option we will provide an actionable breakdown showing you the most important aspects of your processing costs:

How much your fees exceed Interchange if your processing rates had no markups from your processor.
Which fees on your statement are “junk fees” added by your processor that have no benefit to your business.
An estimation of the rates and fees you could achieve with excess markups removed.
A comparison of your current processing costs to what they would be with optimized rates and fees.
Free copy of our ebook “Fee Sweep” to teach you how to negotiate the lowest possible processing fees.
Free 15-minute consultation call to discuss any questions about your audit, statement, or anything else with your card processing.

See an Example of a Real Basic Audit

Option 2 – Comprehensive Audit / $799

A Comprehensive Audit of your merchant account statement includes all of the features of a Basic Audit with a lot of extra detail:

Audit each transaction to ensure accurate Interchange transaction fees. Several major processors are notorious for adding hidden margins by calculating transactions at incorrect Interchange rates. We find this to be especially common with debit cards, which have significantly lower fees.
Flag any suspicious fees for discrepancies that would qualify for fee refunds.
Free 30-minute phone consultation.

See an Example of a Real Detailed Audit

100% Money Back Guarantee

Are you worried that you will pay for an audit only to find out that you have fair rates and fees? If our audit doesn't uncover enough in excessive costs to pay for itself within a six month time period once removed, we'll refund 100% of the cost of your audit. We are so confident that most businesses are being overcharged that we refuse to charge a business that isn't. It's that simple. If are no savings to be had, we'll give you your money back.

Get Transparency Now

Ready to expose your processor's markups? Upload a merchant account statement below. All statements are treated with the utmost confidentiality and deleted shortly after the audit is completed. We will never share any information about your business with any other party. Get your cost-cutting started today.