ERR pricing and why its bad for your business:
You are most likely reading this because you currently process credit cards through your bank. Truth be told, the larger banks in America maintain the largest percentage of merchant accounts in the country. What they fail to inform you is that the local service you are accustomed to will most likely be outsourced when it comes to your merchant account. They also usually neglect to inform you how their merchant reps get paid. At Capital Bankcard South, we make no secret and are completely transparent on how we make our money, and as a business owner, you have the right to know how your vendors make their money.
This short article outlines a relatively new pricing model that is being utilized in most of the major banks in America today. In my opinion, it is a sneaky and unethical way to mislead you into believing you are paying one rate, but in reality are paying something much higher.
