Lyrics & Knowledge Personal Pages Record Shop Auction Links Radio & Media Kids Membership Help
The Mudcat Cafesj



User Name Thread Name Subject Posted
GUEST,petr BS: Any one use Moneris?check your stmts (1) BS: Any one use Moneris?check your stmts 26 Jun 09


if any of you use Moneris as a credit card processing company for your business I suggest you have close look at your statements.

Just to explain, merchants who accept credit/debit cards use a processing company which typically leases the machine and takes a percentage of your transactions (anywhere from 1.7% to 3 -4% or more depending on the card and your agreement) plus other fees - machine rental, minimum charge etc..

Recently I noticed one of my statements had an obvious math error in it
ie. $6134.31 transactions times a 1.75% rate total = -166.69    (which should be $107.35) for one card, and another $15 error for mastercard so it was out total $75.17. In their favour.

Now the reason I checked was because I happened to see someone elses statement that also was out (for quite a bit more).

When I phoned Moneris to question it, the customer rep I talked to had to look into it check with a supervisor and call me back with an explanation. Some time later she called back and said that somehow for that month my non-qualified fees were lumped in with the transaction fee.   (Non-qualified means they charge an extra 1% because the card was not present at the transaction ie someone phoned it in, which is a common thing in my business. A lot of customers collect air miles etc. They also charge an extra 1% for those gold company cards. Supposedly they charge that extra 1% because if the card is not present it could result in a chargeback - except I'm going to be paying that so I don't know what their risk is.

When I pointed out that the Mastercard entry actually did list a separate line for non-qualified transactions and it was only $5.99 not the $15 discrepancy, the service rep said she would check again and call me back. A few minutes later she called and said that the additional included an MDR fee (a minimum fee if you don't have any transactions ie. $20 which they charge you at the beginning of the month and credit you if you meet the minimum transactions) which makes even less sense as I had over $8000 in card transactions.

I said neither of the explanations were satisfactory and she said they would look into it and send me a written explanation with everything itemized.

So I'm curious to see what that is, now I'm not saying they're ripping me off or anything but I suggest anyone else who uses them check their statements carefully.


Post to this Thread -

Back to the Main Forum Page

By clicking on the User Name, you will requery the forum for that user. You will see everything that he or she has posted with that Mudcat name.

By clicking on the Thread Name, you will be sent to the Forum on that thread as if you selected it from the main Mudcat Forum page.

By clicking on the Subject, you will also go to the thread as if you selected it from the original Forum page, but also go directly to that particular message.

By clicking on the Date (Posted), you will dig out every message posted that day.

Try it all, you will see.