Credit Card charges

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Hi Silvia,

You're welcome!

Yes, it would be a manual entry. You can enter manual payments at any time.

As of today (we did a major release last night) you can now put add check payment methods to your account, so the guest can see check as an option (and your instructions on where to send it) when accepting the quote. There are rules associated with that for the booking to auto-cancel if their check doesn't show up in a few days.

-Michelle

I just did that. I wondered how I didn't notice it before. LOL

Claudia

Hi Michelle,

Can you shut off my AMEX. I don't want the extra fees.

Thanks,
Claudia

I will forward this to Tim in merchant services.

-Michelle

PS. If you have any questions or comments about your merchant account, please email merchant-services@ownerreservations.com. Or you can keep posting in the forum!

Hi Michelle,

Can you tell me what the fees related to the 2.25% rate deal are?

Thanks, Pawel

Hi Pawel,

There's a monthly fee of $30, an annual PCI fee of $25, a per transaction fee of $.30 (I believe) and then a bunch of other fees for things like business cards, debit cards, international charges, "rate 2" and "rate 3", etc. MasterCard and Visa "brand usage" is in there too.

It was actually quite astounding to me to see how many interchange fees there are for "normal" merchant accounts.

The only OwnerRez customers that like the 2.25% deal are the ones that do more than $20k per month in processing. It's worth it at that point since the volume is higher.

-Michelle

Hi Michelle,

I just got my first auto payment to sage and the fee does not seem to be a flat 2.95%. A total of $3344.57 went into the Sage Payment system. At the start of this month I was charge $101.79. I could have calculated wrong, but 2.95% of $3344.57 is $98.66.

Or have I done the calculations incorrectly? I did 3344.57 x .0295 = 98.66. If this is correct, where is the extra charge for $3.13 coming from? Is there an extra fee somewhere?

Thanks,
Claudia

Hmm, no idea. Seems like a very odd little amount to be on there. Please email merchant-services@ownerreservations.com about that.

-Michelle

Sent a letter to Tim and he said to forward an email to him, which I will be receiving from them shortly, stating charges.

I will let you know the outcome.

Claudia

Hi Michelle,

It seems like it is not ONLY the 2.95% that we are charged using the Sage system.

I received my statement today and there are added fees, I was not aware of ....

Visa acquirer processing fee .06
Mastercard Network Access and Brand usage .04
Mastercard Assessments 3.03
Total 3.13

It should have been $98.66 from what I understood, instead of the extra $3.13, making it to to $101.79. Was this your understanding?

Claudia

This something you'll want to take up with merchant services. I believe someone is looking for the answer already. Interchange sets all these fees, not us.

-Michelle

Please follow up on this thread! I would like to know what the 'real' fees are! Thanks!

Hi J.Villalobos,

We've been refunding the new FANF fee for any customer that has had it appear on their statement. We've also changed banking partners to a different group that guarantees the flat 2.95% without any FANF fees. So it's just the flat 2.95% at the end of the month.

-Michelle

Thank you! Perfect!

Hi Michelle- 

I am fairly new to this world! I have a question, we use "Stripe". Previously, we were requiring a $300 deposit. In the bank account, I would see $291 being deposited and $300 being debited back to the customer. Is there any way to avoid the $9 fee we are paying if we are just returning the $300 back? How do I put all of this in the accounting program?

Thank you, 

Tiffany

Sounds like you're doing a Refundable Damage Deposit.  In this mode, you actually take the money from the guest via their credit card, which incurs processing fees.  When you refund the amount back to the guest after they leave, you don't get the fees refunded - that's just how nearly all payment processors work.

Instead, you should look into the Security Deposit Hold, which does not incur processing fees unless you actually claim the funds due to damages, which hopefully should be relatively rare.

https://www.ownerrez.com/support/articles/security-deposits-overview 

Hi, New here, just learning.

Who has the lowest transaction fee?

Is the transaction fee paid by the guest or by the owner?

Thanks,

Jan

Transaction fees are paid by the owner of the credit card payment processing account - normally the owner of the property or the PM, but never the guest.

There is no single answer to the question of the lowest fees, because some of the processors customize their rates based on underwriting of the financial status of the business requesting the processing account, as a bank would when issuing a loan.  For this reason, we recommend you reach out to several of our recommended processors to shop around and choose whichever one offers you the best terms.

https://www.ownerrez.com/support/articles/payment-processing-gateways-list