What Days Are Fees Charged?

With your Merchant account, fees are charged at different times during the billing cycle. Fees are either withdrawn directly from your bank account, or deducted from your deposit, depending on your chosen billing structure. We've summarized the most common fees below to help identify charges to your account. 

Summary:

Fee name Date withdrawn
Merchant Discount Daily or 2nd business day
Transaction Daily or 2nd business day
Interchange 2nd business day
Card Brand Fee 5th business day
Terminal Rental Mid month
Terminal Maintenance 15th of the month
Payfirma Account Fee Last day of the month

Merchant Discount

These fees can be billed daily or monthly, depending on how you prefer your account to be set.

  • With daily fees, they will be charged each day based on the total submitted processing volume. 
  • With monthly fees, the amount will be deducted from your bank account on the second business day of the following month. 

Interchange

  • The Interchange differential is withdrawn on the second business day of the month, for all of your previous month's processing volume. 

Card Brand Fees

  • Card brand fees are based on the previous month’s sales and are charged on the 5th day of the second following month. For example, card brand fees for the month of February will be charged on April 5th.

Transaction 

  • All transaction fees are charged on the same date as the merchant discount fees.

Terminal Rental

  • Rental fees are withdrawn on the 15th of the month, or the next possible business day. 

Terminal Maintenance

  • Maintenance fees are withdrawn on the 15th of the month, or the next possible business day. 

Payfirma Account Fee

  • Payfirma withdraws your monthly account fee on the last business day of each month. 

 

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