CardFellow Credit Card Processing Blog

Accounting and Finance

Don’t Lose Money from Processing Fees Paid on Sales Tax

Information provided in this article is for educational purposes only and does not constitute tax advice. For tax advice for your business, consult a tax professional. Paying Fees on Sales Tax When you process a credit card transaction, your customer’s credit card is charged for the total amount of the sale, including sales tax. Transactions …

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Credit Card Processing

Merchant Account ACH Delays and Their Effect

By Ben Dwyer

An ACH delay is not the most restrictive condition a processor can impose, but it’s still important to consider how it will affect your merchant account. Find out what this means for your business in this article. What is an ACH delay? An ACH delay is a temporary hold on an electronic deposit from an …

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Credit Card Processing

Merchant Account Holds and Freezes

By Ben Dwyer

Merchant account holds or full account freezes disrupt your cash flow and can make it difficult to conduct business. In this article, we’ll take a look at both holds and freezes, why they happen, and what you can do about them. This article refers to account holds and freezes on funds from sales at a …

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Credit Card Processing

Personal Credit and Merchant Accounts

By Ben Dwyer

Let’s take a look at what matters – and doesn’t – when it comes to applying for a merchant account. Why does my personal credit matter? When a business runs a credit card transaction, funds are removed from a customer’s credit account and are deposited to the business’ bank account under the assumption that the merchant …

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Credit Card Processing

Rolling Reserve

By Ben Dwyer

For example: If your merchant account has a 5% rolling reserve for 18 months, the processor will withhold 5% of your gross sales. The 5% of sales that are withheld will not be accessible to you for a year and a half. Why are rolling reserves imposed? Rolling reserves may be applied to high risk …

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Credit Card Processing

Credit Card Processing Comparison Charts

By Ben Dwyer

Charts are easily manipulated, leaving you to try comparing apples and oranges. Even if the creator of the chart doesn’t intend to mislead, a lack of complete information can be just as detrimental to finding the right solution. When you’re looking for the best credit card processor, the key is to find the right one …

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Credit Card Processing

Introduction to Samsung Pay

By Ben Dwyer

Note: Samsung Pay is now part of Samsung Wallet. You may still see it referred to as Samsung Pay, but the company website prompts customers to upgrade to Samsung Wallet, where Pay is one ‘module’ or option within the wallet. What is Samsung Pay? Samsung Pay is a digital wallet that can be used with …

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Credit Card Processing

How Tips Paid by Credit Card Could Affect Your Restaurant

By Ben Dwyer

Tips over a certain percentage of the bill can trigger flags for fraud, resulting in card issuer-initiated chargebacks, or can cause your transaction to be downgraded to a more expensive interchange category. Tip Tolerance When credit and debit cards are swiped in a restaurant, the amount authorized includes a 20% “tip tolerance.” This means that …

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Don’t Lose Money from Processing Fees Paid on Sales Tax

Merchant Account ACH Delays and Their Effect

Merchant Account Holds and Freezes

Personal Credit and Merchant Accounts

Rolling Reserve

Credit Card Processing Comparison Charts

Introduction to Samsung Pay

How Tips Paid by Credit Card Could Affect Your Restaurant

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