Understanding Your Merchant Statement
Learn to read your processing statement and spot hidden fees or pricing changes.
Anatomy of a Statement
Your merchant statement summarizes monthly activity: total volume, transaction count, fees deducted, and net deposit. It also breaks down interchange costs, assessments, and processor markups. Knowing how to read it helps you verify you're being charged correctly.
Calculate and Compare
For the same statement period, divide total relevant processing fees by gross card sales to estimate your effective rate. Example: $650 in fees on $25,000 of card sales equals 2.60%. Be consistent about whether equipment, gateway, and monthly fees are included.
Common Red Flags
Watch for unexplained fee increases, new line items, unexpected tiered-pricing downgrades, and inflated interchange rates. These can indicate pricing changes or errors that cost you money over time.
Reconciliation Tips
Compare your statement totals against your deposit records and point-of-sale reports. If fees don't match what you were quoted, request an explanation. Regular reconciliation catches billing errors early.
Reconcile Deposits Correctly
Statement volume is not necessarily equal to cash deposited: refunds, chargebacks, reserves, timing differences, and fees deducted from funding may affect deposits. Match individual settlement batches to bank credits and document outstanding items.
Monthly Review Checklist
Verify sales and refund totals, transaction count, interchange or tiered charges, network fees, processor markup, PCI and gateway charges, dispute fees, and any new recurring items. Save statements and ask the provider to explain discrepancies in writing.
Frequently Asked Questions
How often should I review my statement?
At minimum, review your statement every month. Look for fee changes, new charges, and pricing shifts. An annual deep review or a professional statement analysis can uncover deeper savings.
What if my fees don't match my quote?
Contact your processor and ask for a detailed explanation of every charge. If discrepancies aren't resolved, consider a statement review with ONKORE to compare your actual costs against market rates.
Have questions about your statement?
Our team can help you understand processing costs and funding.
- Expert guidance
- Transparent pricing
- Terms reviewed upfront