Check Your Credit Card Statement for These 4 Terms

As a business owner, you are too busy to sit down and read through your credit card statements every month. When you signed on with your processor, they said you were getting a good deal, so why check-in? The credit card processing industry is notorious for slipping in extra fees, surcharges, and more to help line their pockets with your hard-earned money.

Let’s stop that here and now with Rate Tracker! Below are a few keywords to show where and why you are getting hit with extra charges.

4 Charges to Look for on Your Statement


Electronic Interchange Reimbursement Fee or EIRF is tied to your merchant account. When your account doesn’t batch on a timely basis, you are charged a fee by the issuing banks.


Surcharges are common in this industry. It is when the processor is either inflating your cost or padding the cost, which again lines their pockets and takes away from your money.

PCI Non-Compliance

PCI non-compliance is a charge you incur as a result of being marked as a liability in the eyes of the processor. PCI was created to mitigate the risk that is associated with paying with credit and debit cards.

If your business is considered non-compliant, you’ll get charged a monthly fee by your processor for that anywhere from $10- $250 a month! If you are not compliant, you should seek to become compliant immediately so that you’re not at risk and also that you’re not paying additional fees.

Rate/ Cost Increase

A rate or cost increase is usually on the front page of the statement. However, the processors know that most merchants do not read their statements, so they often get away with it.

Why Choose Rate Tracker?

Rate Tracker was created to help small business owners take control of their processing costs. We are working to build transparency in this industry by educating business owners. Our tool is free and easy to use!

Learn More About Rate Tracker

If you are interested in learning more about Rate Tracker, contact us today! You can also visit Certain Pay to talk to a specialist who can help you go over not only your statements but your entire solution!

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