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 the credit card swiping fee? How much handling fee will be deducted from 10,000?

Nowadays, many people use credit cards to make purchases in daily life, and credit card swiping will incur handling fees. Although it is generally borne by the merchant, it is best for the cardholder to also Understand how this fee is calculated. So, how to calculate the credit card swipe fee? How much handling fee will be deducted from 10,000? Let’s briefly introduce it today.

How to calculate the credit card swiping fee?

Credit card swiping fees are usually paid by merchants to banks and third-party institutions, that is, they are deducted from the cardholder's swiping amount, and the remainder is the actual amount received by the merchant. Some merchants will refuse to swipe credit cards unless the cardholder voluntarily bears the handling fee, so it is also necessary to understand the standards and algorithms for credit card swiping fees.

General credit card swiping fees are determined by the POS machine swiping rate and the amount of the card swiped. The rates for traditional card swiping and quick pass swiping are different. If the card is swiped in the traditional way, such as inserting and swiping the card directly at the POS machine, the standard rate will be applied; if the card is swiped with QuickPass, if the amount exceeds 1,000 within 1,000, the fee will be charged.

Specific calculation formula: credit card swiping fee = card swiping rate × card swiping amount

How much handling fee will be deducted for 10,000?

If the card is swiped for 10,000 yuan, it will be swiped in the traditional way, that is, 10,000×yuan, and there will be a handling fee of at least 60 yuan.

Swipe the card according to the QuickPass method, even if you swipe 10,000 yuan directly, you will also have to pay a handling fee of at least 60 yuan. Then the handling fee is only 38 yuan.

The above is the relevant introduction to "How to calculate the credit card swiping fee? How much is the handling fee deducted for 10,000". I hope it will be helpful to everyone.

How to calculate the credit card processing fee

The specific calculation formula: credit card service fee = card fee rate × credit card amount

1. Credit card processing fee is usually charged by the merchant. The fees paid by banks and third-party institutions are deducted from the cardholder's card balance, and the remainder is the amount actually received by the merchant. Some merchants will refuse to swipe the card unless the cardholder voluntarily bears the handling fee, so you also need to understand the charging standards and algorithm for the card swiping fee.

2. General credit card service fees are determined by the POS card rate and card amount. The rates for traditional swipe cards and quick passes are different. If you use the traditional method of swiping the card, such as inserting the card directly on the POS machine and swiping the card, the standard rate is 0.6; for quick pass, 0.38 for less than 1,000 and 0.6 for more than 1,000.

1. After the store accepts the customer's credit card, a 2-3 handling fee must be paid to the bank and credit card center. It’s called a swipe fee. In November 2012, the central bank issued the "Notice of the People's Bank of China on Implementing Adjustments to Bank Card Handling Fee Standards", stating that this fee reduction only involves domestic bank card consumption transactions. The merchant card handling fee regulations implemented in 2003 will be abolished at the same time from February 25, 2013, and the overall card fee rate will be reduced by 23 to 24.

2. After the store accepts the customer's credit card, it needs to pay a handling fee of 2-3 to the bank and credit card center. In order to save costs, some manufacturers will require cardholders to pay additional handling fees, because an invoice must be issued to swipe the card, so the store cannot evade tax.

3. According to the current income distribution method for bank card inter-bank transactions of China UnionPay network institutions, the settlement fees for bank card acquiring business are all borne by merchants. However, the rates implemented in different industries are different, and the rate standards range from It varies from 0.5 to 4. Generally speaking, the card swiping rate in the retail industry is 0.8-1, in supermarkets it is 0.5, and in the catering industry it is 2.

4. In November 2012, the central bank issued the "Notice of the People's Bank of China on Effectively Adjusting and Implementing Bank Card Service Fee Standards", stating that this fee reduction only involves domestic bank card consumption transactions, and the relevant regulations The merchant card swiping service fees implemented in 2003 have been canceled at the same time since February 25, 2013, and the overall card swiping rate has dropped by 23% to 24%.

5. The bank card handling fee standards shown in the attachment of the central bank notice will maintain the current differentiated pricing in the card handling fee industry. The industry classification is mainly divided into four categories: catering and entertainment, comprehensive, people's livelihood and public welfare. The overall decline was 23 to 24, of which catering and entertainment dropped by 37.5.

6. The first category is catering and entertainment, including catering, entertainment, jewelry, handicrafts, real estate and car sales. The comprehensive rate dropped from 2 to 1.25, a decrease of 37.5. Among them, the card issuing bank service fee is 0.9, the bank card clearing agency network service fee is 0.13, the acquiring service fee base price (can fluctuate by 10) is 0.22, and the unit price of real estate and automobile sales has increased from the original 10 yuan to 80 yuan.

7. The second category is the general category, including department stores, wholesale, social training, intermediary services, travel agencies, scenic spot tickets, etc. The comprehensive rate is reduced to 0.78, of which the issuer service fee is 0.55, and the bank card The network service fee of the clearing agency is 0.08, the base price of the acquiring service fee (can fluctuate by 10) is 0.15, and the wholesale limit is 26 yuan.

8. The third category is people’s livelihood, which mainly includes supermarkets, hypermarkets, water, electricity and gas payments, refueling, transportation ticketing, etc. The overall rate is 0.38. The fourth category is zero-interest hospitals, education and other public welfare categories.

How to calculate the credit card processing fee?

The handling fee for credit card swiping is a handling fee ranging from 1 to 2.5 paid by the merchant to UnionPay, and does not need to be borne by the individual. It is illegal for merchants to ask consumers to bear handling fees. If a merchant requires consumers to pay the handling fee themselves, consumers can refuse and complain to the UnionPay customer service center.

If it is a POS merchant, the UnionPay card transaction fee for each transaction will be deducted. General supermarket merchants will deduct a handling fee of 0.38, general merchants will deduct a handling fee of 0.78, and jewelry, catering and entertainment merchants will deduct a handling fee of 1.25 The merchants in the wholesale market deduct a handling fee of 0.78 yuan and a maximum of 26 yuan. It does not distinguish between credit cards and debit cards. They are all the same standard.

Extended information:

Notes on using credit cards:

Don’t be too early: Try not to swipe your card before 9 a.m., because according to common sense, most stores have not yet Open the door.

Don’t be too late: Try not to swipe your card after 11 p.m., because according to common sense, most stores are closed and online transactions are not affected by time.

Don’t swipe integers: Don’t swipe integers such as 10,000 or 5,000. It is recommended that you don’t use decimal points every time you swipe your card, and the amount you swipe should not be repeated or regular.