How much did your non-qualified rate be when you look at your statement? You're going to see qualified fees and non-qualified fees. Today, I'm going to talk about how much you should be paying for your non-qualified transactions. Transactionexpert.com is the leader in transaction services. We build your online presence and point-of-sale system to integrate with each other. If you are ready to understand and control the entire customer experience, visit transactionexpert.com. Sadly, many small business owners only focus on the qualified rate and transaction fee when looking at their statement or talking to their sales representative from the credit card processing company. However, a large percentage of the fees they are paying go towards non-qualified fees and mid-polla fight fees. It is necessary to look at these fees. Typically, the non-qualified rate is about 1.5% higher than the qualified rate. For example, if your qualified rate is 1.5%, you would expect your non-qualified transactions to be at 3%. Keep in mind that different credit card processing companies may list this information in various ways. Some may have a separate category for non-qualified transactions with a 3% fee, while others may include all transactions as qualified and add a 1.5% surcharge. If you have any questions or want to get your statement analyzed, go to transactionexpert.com/analysis. You can send us a copy of your statement, and within the next day, we will email you back a free Excel spreadsheet with your cost analysis. Additionally, we can connect you with an expert from Transaction Expert who can further explain these concepts. I hope this video was helpful to you. Have a great day.
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Video instructions and help with filling out and completing Where Form 5495 Payments
