Free tool
What do you really pay to take a card?
Two numbers from one monthly statement give you your effective rate: what card payments actually cost you, all in. It takes under a minute.
Nothing you type here is sent anywhere. It is worked out in your browser.
Enter your takings and total charges from one monthly statement to see your effective rate.
- Under 1% a good rate
- 1% to 1.4% normal
- 1.4% to 1.8% more than you need to pay
- Above 1.8% something is structurally wrong
Finding the two numbers
Card takings is usually the first total on the statement. Charges are spread across several sections, and the terminal rental is often billed separately, sometimes by a different company. Add everything that went to the processor or the terminal provider that month.
More on what each line means in What should a practice pay in card fees? and how to check if you’re overpaying.
Questions
- What is an effective card rate?
- Everything your card processor charged in a month divided by the card payments you took that month. It includes percentage fees, per-transaction fees, terminal rental, PCI charges and minimums, so it is usually higher than the headline rate you were quoted.
- What should a UK practice pay for card processing?
- As a guide, under 1% is a good rate and 1% to 1.4% is normal. Between 1.4% and 1.8% you are paying more than you need to, and above 1.8% something is usually wrong with how the account is set up.
- Why is my rate higher than the one I signed up for?
- The quoted rate is usually only one line of the statement. Per-transaction fees, a separate terminal lease and monthly charges are added on top, and a rate set when the account opened is rarely revisited.