articaine wrote:murmsk wrote:I too have just signed up and haven't used them yet. The sign-up was easy and friendly. The fees they quoted me are 1.77% - 1.87% depending on the card plus $10 a month
steve
1.77-1.87% is higher than the 1.33% i get thru bankcard plus $15 monthly. the x-charge looks attractive, but for a high volume office i'm sure that 0.5% adds up.
Articaine,
Recently, we did an analysis for an office with exact same rate as you mentioned in your post. After completing the analysis, X-Charge's effective rate was 9% less than that other processor's rates. I suggest you get that courtesy (aka FREE) analysis from us to see what we can do for you, your office and ultimately (with the integration) your staff. No more batching out each evening, trying to figure out what happened to the $9.00 missing because someone keyed in $112.00 instead of $121.00...
This is not uncommon to see a low "advertised" rate and still have it come out higher than our less-sexy "you see what you get" rates.
You, as a merchant, face what are called "surcharges." Every processor pays the same wholesale (known as INTERCHANGE) rate. The key to most processing accounts is the percentage of the surcharges. Surcharges are fees that are added on to your base rates for rewards, mid and non-qualified cards such as GM MasterCards, Amazon Visas, American Airlines Mileage cards and the like. You, as a merchant, also pay additional fees when a card number is keyed-in and not swiped with a card reader.
There are over 60 variations of cards out there and most of them are subject to surcharges. X-Charge doesn't play games like making the "advertised" rate too good to be true and then taking you for a ride on the surcharges, excess authorization fees, etcetera... That's why I disclose our rates and surcharges on the X-Charge worksheet that I send out once a lead has been verified.
See, when something is below or right at cost, there is, or will be, a problem. Those processors are not going to give you something for free. They are not a charity. Period. They've got to make money somewhere. You can chase price all day long, what you end up with is a raw deal.
Yes, that +0.5% adds up... $131.16 in savings over a year if that office was using X-Charge in that one case I referred to. I'm sure that the integration will also benefit that office and yours greatly too.
Let's not waste any time - My fax number is 702-446-0396. Send your recent merchant statement to me, include a cover sheet so that I have your contact information. I'll have our Accounting Department put it in black and white for you.
All the best and have a great weekend!