However for check card rates the mid-qualified and non-qualified rates on the authorization side is higher due to the transaction rate being much lower than the credit card rate?
Q. Why do I have to sign a personal guarantee on the merchant application? A. Unless you are a publicly traded company or a 501c, you as the majority officer of the company whether you’re a Sole Proprietor or any form of a Corporation you are the company and are responsible for the companies’ actions. Q. Why do I have to pay a monthly minimum? A. Normally you will not pay the monthly minimum unless, you do not process any credit cards at all for the month, or you did not process enough to cover the Monthly Minimum. Note: The monthly minimum charge of $15.00 is two fold, first if you do No transactions at all the charge will be $15.00 plus the Help desk, monthly maintenance and the statement charges, which ad up to be $10.00. Again, if you do no transactions your monthly fees are $25.00. Secondly, the monthly minimum is reduced by dollar amounts of the fees charged for discount on your account; thereby reducing the $15.00 monthly minimum. Example: if you did three transaction and they e
