Compare that to the five times you'd pay it for the $100 transactions and you'll see the difference.Īll these fees are charged through your processing provider.
#Amex credit card processing fee plus#
Let's say the payment processing provider charges 2% plus $0.15 per transaction, you'd pay $0.15 one hundred times for the lower transaction. A hundred $5 transactions costs a lot more than five $100 transactions. The lower your average ticket size amount, the more you'll pay in processing fees. On a $100 transaction, this would cost you $0.30. Especially higher volume businesses may be able to get discount rates.įor example, the processor may charge 0.20% + $0.10 per transaction. This is the fee you should be comparing when shopping around for a provider. The cost will vary depending on the credit card processing company. This is the commission they get for each purchase. On top of the interchange fees, credit card processors charge their own markup. These fees aren't as high as interchange fees, but they still take away a small percentage. These are also fixed non-negotiable fees. In this case, you'll pay the standard Amex interchange rates.Īssessment fees are charged by the card networks (Visa, Mastercard, Discover) to cover operation costs. This is eligible for merchants who process less than $1 million in Amex transactions per year.įor large businesses processing over $1 million in Amex transactions per year, you must enter a direct processing agreement with Amex. They are usually in line with that of Visa and Mastercard. With this program, the processing provider sets the Amex processing rates.
However, Amex's OptBlue program offers a more affordable way for small businesses to process Amex cards. American Express is not an Authorised Representative (under the Corporations Act 2001 (Cth)) of Chubb.Accepting American Express cards: Traditionally, credit card processing fees were higher for American Express cards, so lots of merchants chose not to accept Amex. American Express is not the insurer, does not guarantee or hold the rights under the group policy on trust for Card Members and does not act on behalf of Chubb or as its agent. Card Members are not a party to the group policy, do not have an agreement with Chubb and cannot vary or cancel the cover. Access to this insurance is provided solely by reason of the statutory operation of section 48 of the Insurance Contracts Act 1984 (Cth). 239687) under a group policy of insurance held by American Express Australia Limited (ABN 92 108 952 085, AFSL No.
This insurance is underwritten by Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL No. We do not provide advice about the insurance or whether it is appropriate for your objectives, financial situation or needs. It is important you read the American Express Essential Credit Card Insurance Terms and Conditions and consider whether the insurance is right for you.
You must use your American Express Essential Credit Card to pay for eligible items for those items to be covered under the retail insurance benefits. The insurance on American Express Cards is subject to terms, conditions and exclusions (such as maximum age limits, pre-existing medical conditions and cover limits).
If you are enrolled in Online Statements you cannot make payments in person at Australia Post Offices.Ģ. In order to make EFTPOS or cheque payments in person at Australia Post you must present your Card and current account statement.
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