Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Why do I have to pay a convenience fee for credit and debit cards but not for ACH payments?

0
Posted

Why do I have to pay a convenience fee for credit and debit cards but not for ACH payments?

0

The cost to process an ACH payment is actually less than processing a paper check, therefore there is no need to recover additional costs. Credit and debit transactions are processed through Visa or Mastercard. Visa and Mastercard charge a fee to the merchant (Canton Township) for using their product. This fee, called an interchange fee, plus a handling fee for Chase Bank, makes up the 2.49% convenience charge.

Related Questions

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.