Negotiate credit card fees

Make sure you get the best credit card deal.

At Connected Accounting we can provide businesses in the St Albans area with help and advice on finance and on a wide range of business issues. Here are some tips for reducing credit card fees...

Did you know that the rates set by banks and other credit card companies are negotiable?

Different companies have different charges for processing credit card transactions, so it pays to shop around for the best deal.

Credit card processing fees are determined by:

  1. The number of transactions
  2. The sterling amount of these transactions
  3. The type of equipment used (use swipe machines not imprinters)
  4. Your ability to negotiate fees with the bank

Depending on these factors and on the card used, processing fees can range from 1% to 4%. At the top end, the credit card company can be taking a large part of your bottom line away, and when margins are tight these fees can mean the difference between enjoying a profit or slipping into the red.

Trying to trim these costs by setting a minimum level for credit card transactions risks losing sales if the limit is set too high.

A better way is to negotiate a reduction in the processing fee with your credit card company.

If you are in the St Albans area and are looking for professional advice from an experienced team of accountants, contact Connected Accounting.

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Connected Accounting

Providing simple to understand accounting services for private and business clients with a hands-on approach. Building strong long-lasting relationships that you can trust.

Connected Accounting Limited | Registered Number: 09617704 | Registered Office: St Albans office

St Albans

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London Office:
Connected Accounting, 107-111 Fleet Street, Blackfriars, London EC4A 2AB
St Albans Office:
Connected Accounting, Fountain Court, 2 Victoria Square, Victoria Street, St Albans AL1 3TF .

Call us: 01727 537 160

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