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Dollhouse Bettie was able to cut her credit card processing fees
Posted by: Curtis Stevens on November 17th, 2009

A retail merchant called Dollhouse Bettie was able to cut her processing fees with her bank, WellsFargo after making a lot of profit and giving poor service. I have seen it countless times, banks like WellsFargo take advantage of the relationship they already have with their banking customers. Would you agree this is fair, $50 a month for two years for a credit card machine that you can buy for around $200? 2.30% for swiped transactions?  This may have been ok 10 years ago, but this is 2009.
One way you could look at is, they were making over $4,000 a year from her account and look how much trouble she had when trying to negotiate with them.  6 calls back & forth isn’t acceptable in my opinion.  Why continue doing business with them if they treat their loyal customers that way? They should be bending over backwards for her and grateful for the business! I hope they replaced or repaired the credit card processing machine for free then, after making that much profit on your account.  I also recommend her checking out an Interchange plus pricing model instead of the 3-tiered pricing system most commonly found among smaller to medium size companies.



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