I was charged a Minimum Monthly Fee on my statement?
The minimum monthly fee is a charge for the discount portion of your fees if you process little to no dollar volume during the course of a month. As an example, if you process $500 in sales during the month and your discount rate is 1.69% your discount fees would be $500 * 0.0169 = $8.45. If your monthly minimum fee was $10, you would have had to process at least $600 to exceed the $10 minimum fee ($600 * 0.0169 = $10.14). If you don't meet or exceed the monthly minimum discount, you are charged the stated minimum amount.