Your Fee and Statement FAQ’s

June 9, 2015

fees-pricing-faq

We have put together a list of the most frequently asked pricing and statement questions and answers.

Q: [I looked at my bill on Merchant Direct] or [I received my Moneris statement in the mail] and I’m wondering how the total amount due is broken down? Items don’t seem to match up to the total.

Our statements are designed to provide you with an increasing level of detail, moving from transaction-level detail (day-to-day activity) into a summary of both the transaction fees and service fees.

1. For example, items which appear in the Interchange Fees, Transaction Fees, and Service Fees sections are first listed individually. Some of these same items are then grouped together and billed under one lump sum fee in subsequent sections.

Items listed under the Interchange Fees section are grouped together with items under Transaction Fees, usually by card type:

  1. Interchange Fees for MasterCard transactions will be added to Transaction Fees for MasterCard transactions
  2. Interchange Fees for Visa transactions will be added to Transaction Fees for Visa transactions
  3. Interchange Fees for Discover transactions will be added to Transaction Fees for Discover transactions

2. Items which appear in the Interchange Fees, Transaction Fees, and Service Fees sections list pre-tax amounts; these items appear again in the Financial Details section with applicable taxes added.

3. Device Rental Fees and Account Service Package are grouped together under Service Fees and billed as one lump sum.

 

Q: I do not understand what this specific item is on my bill – can you please explain what it is, and why I was charged?

Our customers frequently ask us to define the following items:

Interac Fees: Refers to fees billed on the Interac transactions you’ve processed. This is billed at the end of the month.

MasterCard Fees, Visa Fees, Discover Fees and UnionPay Fees: Refers to fees billed on the MasterCard, Visa, Discover and UnionPay transactions you have processed. Depending on the card types you accept, this would be based on the transactions you processed the day before, or for all MasterCard, Visa, Discover and UnionPay transactions processed that month. A breakdown is available in the Financial Details Report on Merchant Direct.

Service Fees: This amount is usually comprised of some, or all of, the items listed in the Service Fees section of your Monthly Merchant Statement, including your Device Rental Fee and the Account Service Package.

Other – See Explanation: Further details can be found in the Chargebacks/Financial Adjustments Report section of the Daily Transaction Report Menu on Merchant Direct.  For example, your Moneris Sign-Up Fee (Membership Fee) and partial billing for your device rental.

 

Q: Are there specific items that I get taxed on? 

As tax regulations are subject to change, Moneris reviews the applicability of taxes on a regular basis and may make changes to ensure compliance with federal and provincial regulations.

  • Taxable fees can include the following: Device Rental fee, PCI fee, Sign Up fee and Deactivation fee.
  • Please visit moneris.com/taxes for a full listing of taxes which may be applicable to your merchant account.

 

Q: I didn’t pay this fee last month – why am I paying it this month?

Certain fees are not billed on a monthly basis. Examples include:

PCI Security Fee: The PCI Security Fee is a quarterly fee (although some customers are set up monthly). This reflects Moneris’ ongoing investment in security and infrastructure. The fee is mandatory for all existing qualified customers.

Imprinter Fee: The Imprinter fee is an annual fee that applies to any merchant account renting an imprinter from Moneris.  An imprinter is a manual device that uses carbon copy sales drafts to copy an imprint of your customer’s credit card.  It is used when the physical card can be accepted, but not processed using your point of sale device at the time of the transaction.

Chargeback Fee: The Chargeback Fee is an event based fee which is billed only when the event occurs. The fee is applied to a merchant account when a previous transaction is disputed in accordance with the card brand regulations.  A chargeback could result from several reasons, including cardholder dispute, processing error or fraud.

 

Q: I was billed an Aged Close Batch fee on my statement – what is this charge?

An Aged Close Batch Fee is billed for any batch closed after four calendar days. The fee is applied regardless of who closes the aged batch (i.e., you or Moneris force close). The oldest transaction within a batch is used to identify the date that the batch was opened.

For example: If a batch opens on a Monday and closes on:

  • Monday (day 1) : No fee
  • Tuesday (day 2): No fee
  • Wednesday (day 3): No fee
  • Thursday (day 4): No fee
  • Friday (day 5): Billed Aged Batch Fee

These fees are charged as a flat fee for each aged batch at the time the batch is closed. Fees are always billed in Canadian currency (even for Canadian customers processing in US Dollars).

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Transaction Fees Explained
Transaction Fees Explained

Transaction Fees Explained.

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