Blog Tag Archives for debit card processing fees
Below is another example of one of our clients saving a ton of money on their monthly debit card processing fees due to the Durbin Amendment! This client is a dentist with two accounts. One of them is used to swipe cards at the front desk, the other one is used exclusively for recurring billing. The Swiped account realized a much greater Durbin savings due to higher volume of Debit cards.
the Durbin Amendment reduces the cost of processing a qualified debit card from about .95% + $.20 per transaction down to roughly .05% + $.22 per transaction. On a $100 sale the old cost would be $1.15 and the new cost of processing the debit card would be $.27. This is a huge savings - and one that the business owner can ONLY take advantage of if they are on an interchange plus pricing structure.