Start at the summary
Most UK merchant statements open with a summary showing total card turnover, total fees and any deductions for the month. Note both numbers; you will need them to calculate your effective rate.
Also note the reporting period. Some providers run calendar months; others run 4-4-5 or bank-day periods. Comparing two different providers means normalising to the same period length.
Unsure what these charges mean on your own statement? Submit it for a free independent review.
Check If I'm OverpayingWork through the detail
Transaction fees
Often split by card type. Look for separate rates on premium and international cards.
Authorisation fees
Small per-transaction fees that add up at low ticket sizes.
Terminal hire
Confirm the monthly cost and the contract end date.
PCI compliance
Annual fee plus any monthly non-compliance fees.
Minimum monthly service
Applied when turnover falls below a stated level.
Other line items
Statement fee, scheme fee passthrough, refund fees, chargeback fees, gateway fees if applicable.
Common line-item names to watch
| What it is | Alternative names you'll see |
|---|---|
| Transaction rate (blended) | MSC, Merchant Service Charge, Turnover fee |
| Authorisation fee | Auth fee, Transaction fee, Per-transaction fee |
| Monthly minimum top-up | MMSC, Minimum service charge, Monthly threshold |
| PCI compliance | PCI DSS fee, Compliance fee, Data security fee |
| Terminal rental | Equipment hire, PDQ rental, Hardware fee |
| Scheme fees | Assessment, Interchange plus, Network fee |
Finish with the effective rate
Divide total fees by total card turnover and multiply by 100. The result is your effective rate for that month. Track it over three to six months for a fair picture.
Red flags to look for
A sudden jump in the 'other' or 'miscellaneous' bucket. New line items you were not told about. Rising minimum top-ups (which usually mean either your volume is falling or your minimum was set too high). Any charge that appears in the same month you were told a fee would be waived.
Frequently asked questions
Can I request my statement in a spreadsheet format?
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Why don't my statements match my bank deposits?
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What if a line item isn't explained?
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Key takeaways
- ●Always start with total turnover and total fees from the summary.
- ●Premium and international card line items are where blended pricing often hides cost.
- ●Calculate the effective rate across several months for a fair benchmark.
- ●Learn the common alternative names for each fee - providers rarely use the same ones.