Money Ripples Podcast Save Big Time On Your Business Merchant Fees With Cheryl Mckenna | 720
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Jun 9, 2023 Cheryl McKenna, a merchant services expert with 25 years of experience, shares invaluable insights for business owners dealing with credit card processing. She uncovers hidden costs in merchant fees and emphasizes the need for careful examination of monthly statements. Cheryl discusses how misclassification can result in substantial overcharges and offers strategies to avoid these pitfalls. Listeners learn about the true costs of popular payment processors and the importance of seeking specialized advice to enhance their cash flow.
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Chris's Merchant Account Issue
- Chris Miles shares how Cheryl McKenna helped him uncover hidden fees in his merchant account.
- This saved him thousands of dollars and revealed a deceptive practice by his provider.
Hidden Merchant Fees
- Overpaying merchant fees isn't always due to intentional overcharging.
- Often, businesses are simply set up incorrectly, or there are procedural errors leading to higher costs.
Review Your Statements
- Business owners unsure about merchant fees should provide their full merchant statements.
- Providing the last three months' statements is ideal for identifying trends and hidden fees.