[ThaVirus]

Originally Posted by TimBone

Yea...This is true. Some random Indian dude explained the process to me during our transaction. Every time they swipe a card, they are charged a certain fee from the company they use to process debit/credit transactions. That fee is charged whether or not the transaction is completed. Therefore, you walk in there, swipe your card for five dollars worth of soda and chips, and you're card gets declined because you're a shitbag with no money, that store owner still gets charged for swiping that card.

Similarly, if you only buy a fifty cent bag of crackers that they're making a 20 cent profit off of, and the debit/credit transaction fee is 25 cents, they're losing five cents by selling you that bag of crackers via debit/credit.

Originally Posted by JASONSAUTO

And they charge you interchange fees, and more for debit, and processing fees, and then they charge you for emailing you a statement, then they automatically renew your contract yearly. Use the service after its up and they have you on the hook for another year. And they charge you a fee for collecting the other fees...

Exactly.

They make it really hard for small businesses to survive.