Most restaurant owners would agree that their primary source of payment is a credit or debit card. Very few restaurant goers these days pay for their meal with cash anymore. That means that restaurant owners can expect to pay a processing fee for each and every sale they make. This amounts to thousands of dollars each month going straight to your merchant fees instead of back into your business.
Try Lowering Your Credit Card Costs With These Tips
Since restaurant owners are frequently paid with credit cards, there are strategies you can employ. Instead of tacking on a surcharge fee to make up some of the cost, try lowering your monthly processing fees with a few of these tips:
- Ask your Processor about PCI Compliance. You receive an additional fee each month you are not compliant.
- Look for a “Statement Fee” on your American Express statement. You can ask for this fee to be removed.
- Search for miscellaneous fees on your monthly merchant account statement. If a fee reads “monthly”, it can probably be nixed.
If you were to go through your statements, speak with your processor, and put in the time doing your homework, you could expect to save anywhere from 3% to 5% in monthly fees on your own; however, hire an experienced merchant account auditing firm like Verisave and you can expect closer to 25%-35% in monthly fee reductions.
Restaurants Can Realize Huge Savings With Verisave
One restaurant owner recognized a majority of his sales were paid for by credit cards which meant he was paying a lot in processing fees each month. Year after year, he saw his processing fees rise which added to his expense.
After hiring Verisave, we were able to locate a 28% reduction in his monthly fees and implemented those savings in just two weeks. Now, this restaurant owner saves over $3000 every month in merchant processing fees.
What Business Practices Could You Improve Within Your Company With An Additional $36k Every Year?
Realize Dramatic Credit Card Cost Reduction With Verisave
With our decades of experience working in the credit card industry, our auditing experts have priceless tools used to locate savings, and spot unnecessary spending due to miscellaneous charges and human error. When you work with our merchant account auditing company, we’ll locate potential savings you could not have found on your own.
Once those savings are realized, Verisave provides regular monitoring to make sure you maintain your savings. Very often processing companies will implement new fees and you will see your monthly bill begin to rise again. We make sure that your account is never taken advantage of, that your rates do not rise and that every step is taken to make sure you are saving as much as you possibly can each month.
Contact Verisave for a free evaluation of your most recent merchant account statement. We will show you just how your company can reduce their monthly merchant account spending. Instead of hiring an in-house team of experts, give us a test run. We are confident we can prove our worth before you commit to anything. A brief list of satisfied clients include giants like iHeart Media, Reliable Automatic Sprinkler, Level3 Communications, Praxair, and Grifols.
Don’t miss out on this free opportunity to see what you could be saving your restaurant each month in credit card processing fees.