Bank Account Deposit Report- Understanding CC processing fees

This article will help you understand the breakdown of your bank account deposits with the corresponding credit card processing fees. When a payment is processed within the EasyHOA software, there are certain fees associated with that processed payment. There are two types of payments that you can process.

1- ACH(e-check)

2- Credit/Debit Card

Examples of some of the fees that can be associated with any of the above mentioned payment attempts are as follows:

Note: These fees are for illustration purposes only and do not reflect the exact fees that your HOA is currently paying to process payments

• 3.29% on Visa, MasterCard and Discover Transactions
• 3.89% on American Express transactions
• $0.50 per credit card transaction
• $1.99 per ACH/e-check transaction

*$0.25 Disbursement Fee Payout - This happens when the merchant pays out a deposit/disbursement to your HOA bank account.

Other Possible Credit Card Fees:

• $15.00 Chargeback fee
• $15.00 Arbitration

Other Possible ACH Fees:

• $2.50 Failed ACH / NOC (Notice of change)
• $2.50 ACH Return
• $15 Representment fee
• $0.35 Echeck Refund

These fees are taken out of the gross bank account deposit. Here is an example of what a bank account deposit looks like:

Notice: The deposit dates on the left hand side of the report reflect the date that the deposit was batched out to your bank and may or may not include multiple payments and each associated fee with those respective payments. If you click on the deposit or “processed date” it will open up more details about the payments that make up the associated deposit. That may look like this…

Example:

*Note: Credit card payments typically take two business days to process; while ACH payments may take up to nine business days to process. Deposits are not processed on weekends and bank holidays.