Dance Studio Saves $40k a Year on Their Merchant Account Costs!

We often see small business owners saving a lot of money, but this new Payment Depot member is one of the best examples ever!  This Dance Studio is a thriving business, bringing in about $78k a month in gross credit card transactions, but they had no idea that their merchant account costs were way too high.

When they sent us their Merchant Account statement from Wells Fargo, we were shocked to see that they were paying 5.12% for credit card processing.  That was over $4200 in fees paid just to accept credit cards, which is extremely high for a small business!  Here is their original merchant statement from Wells:

The owners of this dance studio were absolutely blown away by the savings quote we gave them, and thought it might be too good to be true.  But here is their new Payment Depot Statement.  As a Payment Depot Member, they paid 1.06% instead of over 5% on the same $78k in credit card processing, saving them over $3300 per month!  Here is the new merchant statement:

For a small business like this, $3300 a month in savings means they can hire another employee, or invest back into his business and grow even more!  This member will end up saving over $40,000 per year!

How much could your business save on merchant services? Just send us a statement to find out how much you’re over paying for merchant services!