Your Guide to Swipe Fees (and How to Lower Them)

If you’re wondering about anything that has to do with swipe fees and the possibility of lowering them, the National Foundation For Credit Counseling is easy enough to contact at their website. New rules and regulations were set into place concerning swiping and online credit card processing as of October 2011.

Swipe Fees As Of October 2011

In October of last year new regulations were put into effect that cap the amount of dollars banks receive from businesses every time you swipe (or use) your credit card. The new cap states that for each transaction no more than 21¢ can be charged as a fee. The old fee was a lot closer to 44¢, so you were paying your bank almost half a dollar every time you used your credit card!

Make The System Work For You

‘The Foundation’ listed in the first paragraph has desperately been trying to encourage people to call them at their toll free number or visit their site so as to allow buyers to have input on the entire topic of swipe fees and how they affect your finances.

Anyone concerned, wanting answers or solutions is still highly encouraged to do so.