How to Avoid High Credit Card Processing Fees

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Operating the finance specifics of your own small business means dealing with a wide variety of expenses. Although some of these may be unavoidable, many of them can be reduced in order to streamline your services and make them more affordable. One fee that can often be overlooked is credit card processing fees, but can anything be done about them? Absolutely!

In this article, we will dive into a few tips to help you avoid the high credit card processing fees you may be currently experiencing and make it so that your business is more affordable and profitable.

To help you get started, here are some tips on how to avoid credit card processing fees (or, at the very least, reduce them).

 

1. Try Negotiating With Your Credit Card Processor

Generally speaking, businesses that are just starting out may have a more difficult time with this recommendation. However, if you are more established and are experiencing greater volumes of orders, you may be able to negotiate with your credit card processor to bring down your rates. If you’re a successful vendor that has plenty of value to offer your credit card processor, the first step of how to avoid credit card processing fees may be simply reaching out to them and negotiating lower fees in return for your continued business.

 

2. Zero Cost Credit Card Processing

One of the newest trends in payments is zero cost credit card processing. In short, a surcharge fee is charged to your customer for using a credit card. If an item is $100, your customer pays $103.50 (3.50% surcharge) and you keep $100. Many retail and ecommerce merchants are taking advantage of zero cost credit card processing to save on fees. Customers pay a small surcharge and merchants pay zero processing fees.

 

3. Accept eCheck or ACH Payments as an Alternative Payment Option

Accepting eCheck or ACH payments can save you up to 3% on processing fees when compared to credit cards. Offering eCheck or ACH as an alternative payment option will also help with conversion as many customers prefer to pay by check or using their bank info. eChecks and ACH payments do not have the interchange fees charged by the card networks so the cost savings can be significant.

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4. Find a Vendor Better Suited for Your Needs

Our final and most obvious recommendation is to compare quotes offered by various merchants to find one that is best suited for your needs. Take, for example, SeamlessChex. SeamlessChex offers a full suite of merchant services, eCheck, and ACH processing solutions that cost significantly less than a traditional bank, allowing you to keep more of what you make from your efforts. For those who are interested in not only learning about how to avoid credit card processing fees but want to get more out of their business, make sure to find the right merchant for you!

Some credit card processing fees are unavoidable, but there is always a way to reduce overall expenses and find a service that works best for you. If you’re ready to pay less and get more out of your business, sign up and start getting paid today with SeamlessChex!

Right payment solution for you infographic

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