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T
TVon915
April 13, 2021
Question

Credit Card Transaction Fees

  • April 13, 2021
  • 1 reply
  • 7 views

I am trying to figure out how much the credit card transaction fees are.  I only take credit cards through my invoicing.  When I invoice a customer, they pay with their credit card throuh a link on their invoice through Quickbooks.  It seems my fees are all over the board.  Here are a few examples:

Batch - Visa 74.66

             Visa 65.00

             MC  555.67

Total collected 695.33 and total Fee 58.84.  

 

Batch - MC 45.73

            Disc 98.96

            MC 211.36

            Visa 370.09

            Amex 497.70

Total collected 1223.84 and Total Fee 44.33

Can anyone make sense out of this?  I can't figure out what the fee is.  I thought it was 3.3% for invoiced plus .30 per transaction but that still doesn't add up

 

Thanks.

 

1 reply

R
ReymondOModerator
Moderator
April 13, 2021

Hey there, @TVon915.

 

Yes, you're right. QuickBooks Payments fees for a credit card - online invoice is 3.3% + 30 ¢. 

 

For example, the amount of invoice paid is $100. Therefore the amount that will be deposited into your account should be $96.4. Here is the sample calculation:

 

QuickBooks Payments fee

100x(0.033) = 3.3 + .30 = 3.6 

 

total invoice minus the fee

100 - 3.6 = 96.4

 

Thus, the total fee will depend on the amount paid on the actual invoice and how you processed the payment.

 

For more details, please check out this article: Standard Payment Fees & Rates.

 

You can also visit the QuickBooks Payments website for the latest processing fee rates and pricing. 

 

I'm still here if you have other questions regarding QuickBooks Payments. Just post your questions here, I'll respond as soon as possible. Have a good one.

G
Grizzman
May 13, 2022

We have just changed banks and our new bank wants a ten digit originator code so Intuit can deduct fees on credit cards. I don't recall having to go through this with our previous banks. How do I get this code. I have looked for it online and even asked a QB customer support person who didn't know what the heck I was talking about.

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