How to calculate credit card processing fees

The rates charged by credit cards are different. Credit card processing fees are usually borne by the merchant, but sometimes the credit card amount is relatively large. The handling fee will be deducted from the consumer's credit card amount. The remaining amount is the actual amount reached by the merchant, and some businesses are unwilling to let consumers swipe their credit cards. Because if the user wants to swipe a credit card, they need to bear the handling fee.

1. Swiping your card directly on the POS machine is charged at a standard rate of 0.6. The rate of third-party POS machines will be higher, and a single service fee will also be charged, no matter how much the rate is. It is executed according to a rate standard;

2. QuickPass card swiping has a small-amount double-free function. By default, transactions not exceeding 1,000 yuan are executed at a preferential rate of 0.38, and transactions exceeding 0.6 are charged a standard rate. .

If the cardholder uses a credit card to directly spend 10,000 yuan, the cardholder does not need to pay the handling fee. As long as the user repays the money on time within the specified repayment period, he can enjoy the repayment. During the interest-free period, cardholders do not need to pay any interest or handling fees. If the cardholder cannot repay the loan in full within the stipulated time, in order to avoid installment, the user can choose to apply for installment or repay the minimum repayment amount. Installment repayment requires a handling fee, which varies for different periods. If the user chooses to repay the minimum payment, he or she will need to pay interest. The interest is charged at a daily interest rate of 0.05. At the same time, the minimum payment interest on the credit card will be compounded monthly until the cardholder pays off the balance in full. until.

Minimum repayment amount of credit card = consumption amount within the credit limit × 10 cash advance transaction amount × 100 unpaid portion of the previous minimum repayment amount × 100 consumption amount exceeding the credit limit × 100 all fees and interest × 100 . If the cardholder uses a credit card to withdraw cash, the handling fee will be charged according to a certain proportion of the cash withdrawal amount. Different banks have different cash withdrawal handling fees. For example, China Everbright Bank, Agricultural Bank of China, and Bank of Communications charge a cash withdrawal handling fee of 2.5. Usually the cash withdrawal handling fee is 1-3 of the amount, that is to say, the handling fee for withdrawing 10,000 yuan is about 100 yuan to 300 yuan. In addition to handling fees, cash withdrawals also require an interest of 0.5% per day.

How to calculate credit card swiping fee

Credit card swiping fee = card swiping amount handling fee rate. Different industries have different rates. The rate standard ranges from 0.5 to 4. .

The first category of merchants includes catering, hotels, entertainment, jewelry and gold ornaments, and arts and crafts. The general discount rate is 2-2.5.

The second category of merchants includes real estate, car sales, and wholesale. The general discount rate is 1, and they can apply for a single-ratio transaction cap.

The general discount rate for third-category merchants including gas stations and supermarkets is 0.5-1.

General discount rates for the fourth category of merchants, including public hospitals and public schools, vary depending on the region.

The fifth category of merchants includes general discount rates of 1-3.

It should be noted that the credit card swiping fee is charged by the bank to the card swiping merchant, and the cardholder does not need to pay it.

Extended information:

1. Credit card cash withdrawals do not enjoy the interest-free period. Interest will be calculated at a daily interest rate of 5/10,000 from the date of cash withdrawal until it is paid off. Taking repayment after 20 days as an example, the interest you will bear for withdrawing 10,000 yuan in cash is: 100,000.0520 = 100 yuan, which is an interest of 5 yuan per day, totaling 100 yuan for 20 days.

In addition, there are handling fees for credit card cash withdrawals. Each bank has different handling fee standards, which are generally around 1-3. Taking the Bank of Communications as an example, the handling fee for credit card cash withdrawal is 1, and the handling fee for withdrawing 10,000 yuan is 100 yuan. The total *** adds up to a fee of 200 yuan. The cash withdrawal fees are relatively high, including Everbright and Ping An, both of which are 2.5. Then, the handling fee for withdrawing 10,000 yuan is 250 yuan, and the total fee is 350 yuan.

Cardholders are advised not to use credit cards to withdraw cash without special needs.

Even if you need to withdraw cash, you should choose some special cards with cheaper cash withdrawal fees. For example, Bank of Communications' Y-POWER credit card has a handling fee of RMB 5 for domestic RMB cash withdrawals. However, you must repay as soon as possible after withdrawing cash.

How is the credit card processing fee deducted? It will be clear after reading it

Nowadays, many people have applied for credit cards for daily consumption. However, some people do not need to pay fees for swiping their cards, while others have been deducted fees. So the handling fee for swiping credit cards is How to deduct it? Today I will briefly introduce the credit card swiping fees. Friends who are interested can take a look together.

How is the credit card processing fee deducted?

Credit card handling fees are usually borne by the merchant, that is, the handling fee is deducted from the amount of the consumer's card, and the remaining amount is the actual amount received by the merchant. However, sometimes when the amount of credit card swiped is relatively large, some merchants are not very willing to let consumers swipe their credit cards. If they want to swipe their credit cards, the consumer needs to bear the handling fee.

The specific handling fee collection method is related to the amount of the card swiped and the method of swiping the card. There are two methods of credit card swiping: direct swiping and quick pass swiping. Direct swiping means taking the credit card and inserting or swiping the card to make a purchase. Quick pass swiping means bringing the credit card close to the POS machine or making payment near the POS machine after binding the card via WeChat or Alipay. , the card swipe rates are different.

1. Swipe the card directly: UnionPay POS machines charge according to the standard rate. Third-party POS machines charge higher rates and also charge a single service fee. No matter how much the amount is swiped, the rate will be the same. Implemented according to a rate standard.

2. QuickPass card swiping: QuickPass card swiping has a small-amount double-free function. By default, transactions not exceeding 1,000 yuan are executed at the preferential rate. If the amount exceeds, the standard rate will be charged. This means You may encounter situations where the debited processing fees are calculated differently even though they are all the same way to swipe your card.

In addition, if the handling fee is borne by the merchant, although the consumer will not be deducted, if he cannot repay in full and chooses installments, then installment handling fees will be incurred. Different from the charging standard for credit card deduction, the specific rate is related to the number of installments, and the rates are different for different banks.

The above is the relevant introduction to "How to deduct the credit card processing fee", I hope it will be helpful to everyone.

This is the end of the introduction to how credit card handling fees are charged.