I don't know about everyone else, but since I've opened a coworking office, one of the most mysterious and difficult-to-wrap-my-head-around concepts has been why the hell am I getting charged so much for accepting credit cards and where is it all going. In our scramble to get open in time, we signed on with First Data, Wells Fargo recommended them so what could go wrong? This month, we billed $1435 through first data, from that, we were charged a $48.55 bankcard discount fee, a $23.87 Bankcard interchange fee, and a 53.89 Bankcard Fee. First data is incredibly unhelpful, but I've managed to figure out that the discount fee is just what they charge us, the interchange fee is what the credit card charges us, but what the hell is the Bankcard fee? Also, most beguilingly of all, It's been slowly going down while our other two fees have been going up.
I knew it would be a little pricy, but it seems absolutely insane that we're paying nearly 10% of our revenue out to these companies. It's going to cost us $500 to break the contract and I'm totally on board with doing it, but is there a much better solution? -- Visit this forum on the web at http://discuss.coworking.com --- You received this message because you are subscribed to the Google Groups "Coworking" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
