A headline rate of 2.9% + 30¢ tells you almost nothing on its own, because what the fixed fee costs you depends entirely on your average transaction size.

Working it out

Take one month's statement and divide total fees by total volume. For the full breakdown of where those fees go, see credit card processing fees, explained.

Calculate yours

Take these three numbers from a single monthly statement so the period matches.

Effective rate3.20%of every dollar you processed went to fees
Average transaction
$25
Cost per transaction
$0.80

GOOD QUESTIONS

Frequently asked

How do I calculate it?+

Take one month's statement, divide total fees by total volume, and multiply by 100.