How to Save Money on Credit Card Processing

The best way to save money on credit card and debit card processing fees depends on your current setup.

If you're not yet accepting credit card payments, see our guide to credit card processing.

Currently Have a Merchant Account?

If you already have your own merchant account and have built up a good trading history using it, it is worth seeing if you can negotiate a lower rate from your acquiring bank.

Here's what we suggest you do:

Step 1: Get Quotes from Other Acquirers

Get some free quotes from other acquiring banks and merchant service providers to see what is available in the market. Contact them via our list of merchant account providers.

Step 2: Get Quotes from Resellers

Some merchant account resellers may be able to get you lower fees than you can get directly.

Step 3: Call Your Bank

Call your bank and ask for a lower rate. You may want to mention the quotes you've received from other providers. If your current acquirer won't offer competitive fees, you may want to look elsewhere.

Step 4: Tell Us How You Get On!

Please let us know how you get on. We'd love to hear how much you've been able to save and if you have any tips for people following in your footsteps. We're keen to improve this advice based on your experiences.

Currently Using PayPal?

Perhaps you're currently using PayPal because it was an easy way to get started or you were turned down for your own merchant account.

As you may already know, PayPal's standard fees are high compared to what you are likely to pay if you have your own merchant account.

If you're processing over £1000 per month and have built up some trading history, you can probably save money by getting your own merchant account. Use our list of merchant account providers to find one that's suitable for your business.