It's 2014 and businesses are getting in gear for the new year. The problem is that many companies don't even realize how much they are "actually" paying for credit card processing. The merchants statements provided by most processors are designed with one thing in mind: to fool you. They are afraid that once you realize what you are truly paying, you will go elsewhere. This is why so many processors will attempt to lock you into a contract, usually for 3 years. I have seen companies like Bank of America charge non-qualified cards (business credit cards) at 14% and the business had no idea! The important thing is first, never sign a contract (say it again, this time with feeling). The second thing is, find out if your processor is hitting you up with hidden fees. Starting the new year is a good time to reassess your bills and make sure you are not overpaying for services. For many, merchant services should be the first place you look to for savings. On average Prestige Merchant Services has saved companies 20-50% off their current monthly merchant service bill. Unlike other processors, they will give it to you straight and if you actually have a great deal they will tell you there is no need to switch (unless you are getting crummy customer service, in which case you probably should). If you want to make sure you are not overpaying on merchant services and like the idea of possibly saving thousands for the upcoming year, get a merchant statement and contact a reputable merchant service provider for better rates. They have professionals that can make sense of those difficult-to-read merchant statements that usually will give a forensic accountant a big headache.