A ‘MONTHLY MINIMUM’ (MMS) MEANS YOU PAY THAT MINIMUM EACH MONTH REGARDLESS OF VOLUMES
Fact, if a monthly minimum (MMS) of £25.00 is set to your account, and you only process £15.00 in fees, you may have to cover the £10.00 difference.
Not all providers are the same. Some providers may charge you the entire £25.00 because you did not hit the minimum amount in fees, and some may not charge a monthly minimum at all.
But just to be clear, if you do have a minimum placed on your merchant services account for your credit card and debit card accounts, you will not be charged that amount if you hit that minimum in fees. This is very typical with most payment processing providers.
About Cornel Sampson
Helping UK Businesses MAKE MONEY and SAVE MONEY on rates they pay to the bank for taking payments by Debit/Credit Cards
Helping Retailers and service providers to take payments by debit/credit cards face to face or online – Saving up-to 40% in Fees & Charges
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