Attention all New Hampshire merchants. Or merchants anywhere, for that matter: When was the last time you really studied – we mean really studied – your credit card statement to see the fees you’re being charged? Most merchants wouldn’t know. Most likely glance at the statement and pay it, no questions asked.
If this describes you, the article entitled Your Hidden Credit Card Fees in the May edition of Business NH Magazine is a must read. Instabill Sales Manager Wendy Jacques spent a recent morning with Editor Matt Mowry to dissect the magazine’s credit card statement and offer ways in which it could save money.We at Instabill were thrilled to be asked by Business NH magazine for our insight. We are deeming it required reading for all merchants who accept credit cards for purchase.
How to Save Money on Your Credit Card Bill
Anyone who has ever purchased tickets to a concert or a sporting event knows about the surcharges such as convenience fees or facility fees. The same thing applies to credit cards. The idea for the feature came about when Business NH Magazine Publisher Heidi Copeland was examining the Magazine’s credit card statement which was laden with fees and surcharges. She wondered what each fee represented. Ms. Copeland’s inquisitiveness soon turned into a feature story idea, and a phone call to Instabill soon followed.
What Were the Findings?
The goal of Business NH Magazine was to dissect each fee and identify what the fees cover, which fees are negotiable and where it can save money. The meeting was really more of a consultation – and we were happy to oblige. Mr. Mowry was pleased to learn several findings:
- Between 6-9 months of credit card processing in good standing marks the opportune time to negotiate your fees down.
- Most, if not all, fees and surcharges are negotiable.
- Banks like to look at financials six months at a time. Consistent growth in volume and few chargebacks will help your case.
Largest Issue of the Year
The good folks at Instabill feel privileged that Business NH Magazine asked us to consult for the feature. The timing of the feature is near perfect for two reasons. Primarily, the May edition, which announces New Hampshire’s top 10 business leaders of the year, is the most read edition of the year.
Secondly, Instabill is a credit card processor for e-commerce, MOTO and POS businesses worldwide. We would like to have a local presence as well, and our exposure in Business NH magazine will go a long way toward that.“This was a new venture for us,” Ms. Jacques said. “We are a worldwide merchant services provider, but we would like to be a local one too. New Hampshire may be small in geography, but it is a cauldron of industry.”
Consult With Instabill
Instabill merchant account managers do more than help merchants begin accepting credit card transactions; they serve as consultants for the life of a business’ merchant account and can detail where merchants can negotiate and possibly save money on fees. Start a conversation today at 1-800-318-2713.
