Processing statement review checklist
A printable checklist to audit your own statement before calling your processor.
How to use this checklist: Print this document and grab your most recent processing statement. Work through each section in order. Fill in the blanks, tick the checkboxes, and flag anything that looks wrong. By the end, you will know whether your statement is clean or whether it is time to have a conversation with your processor.
Step 1: Your statement at a glance
Fill in these numbers from the top of your statement. You will use them throughout the checklist.
| Field | Your number |
| Business name | |
| Merchant ID (MID) | |
| Statement period (dates) | |
| Total processing volume ($) | |
| Total number of transactions | |
| Total fees charged ($) | |
| Net deposit to your bank ($) |
Step 2: Calculate your effective rate
This is the single most important number on your statement. It tells you the true percentage of every dollar that went to processing fees.
| Total fees ($) ÷ Total volume ($) × 100 = Effective rate (%) $ __________ ÷ $ __________ × 100 = __________ % Write your effective rate here: __________ % |
| Below 2.5% Competitive. You are likely on good terms. | 2.5% to 3.5% Average. Worth reviewing for savings. | Above 3.5% High. You are likely overpaying. |
Step 3: Identify your pricing model
Look at the fee detail section of your statement and check which description matches what you see.
| If you see this… | Your pricing model is… | Verdict | |
| □ | Individual interchange categories (VS CPS Retail, MC Core, etc.) with a separate markup line | Interchange-plus | Most transparent |
| □ | “Qualified,” “Mid-qualified,” and “Non-qualified” tiers | Tiered pricing | Least transparent |
| □ | A single flat percentage on all transactions (e.g., 2.6% + $0.10) | Flat rate | Simple but costly at volume |
| □ | Cannot determine from statement | Unknown | Call your processor |
Step 4: Monthly fee audit
List every monthly fee from your statement below. Check the box if the fee is one you expected. Flag anything you do not recognize or cannot explain.
| ✓ | Fee name | Amount | Expected? | Notes |
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| TOTAL MONTHLY FEES | $ __________ |
| If total monthly fees exceed $50 For a standard in-person merchant account, monthly fees above $50 are above average. Common culprits: duplicate PCI fees, regulatory fees, technology fees, and annual fees broken into monthly instalments. If you cannot explain a fee by name, your processor should be able to. If they cannot, it should not be on your statement. |
Step 5: Red flag scan
Check each item against your statement. Any box you tick is worth investigating.
| ✓ | Red flag | Found? |
| □ | Fees labelled “regulatory,” “technology,” “service program,” or “enhanced security” These are often pure processor profit with no underlying cost. | |
| □ | Any fee that appeared this month but was not on last month’s statement New fees without notice are a sign of rate creep. | |
| □ | Per-transaction markup that differs from your contract rate Compare each line to what you signed. Even small differences add up. | |
| □ | Interchange categories labelled “non-qualified” or “downgraded” May indicate terminal misconfiguration or deliberate tier manipulation. | |
| □ | A PCI non-compliance fee ($25 to $100/month) This is avoidable. Complete your annual PCI questionnaire to eliminate it. | |
| □ | An annual fee charged without prior notice Some processors bury this in the fine print. It should be disclosed upfront. | |
| □ | Assessment fees that seem unusually high (above 0.15% of volume) May be inflated beyond the actual card network charges. | |
| □ | A batch fee above $0.30 per batch Standard range is $0.10 to $0.25. Anything higher is above market. | |
| □ | Early termination fee or cancellation fee listed as a line item If you did not cancel, this should not be here. | |
| □ | Any fee you cannot explain by reading its name If you cannot understand it, circle it and ask. |
Step 6: Month-over-month comparison
If you have your previous statement, compare these three numbers. Even small changes in rates can add up to hundreds or thousands per year.
| Metric | Last month | This month | Change |
| Total volume ($) | |||
| Total volume ($) | |||
| Total fees ($) | |||
| Effective rate (%) | |||
| Total monthly fees ($) | |||
| Per-txn markup (if visible) | |||
| Number of transactions | |||
| What to look for If your volume stayed roughly the same but your effective rate increased, your processor may have raised your rates. Even a 0.10% increase on $30,000/month costs an extra $360 per year. Small changes compound. |
Step 7: Transaction mix breakdown
Understanding your card mix helps you know whether your rates are reasonable. Debit should be cheaper than credit. Card-present should be cheaper than card-not-present.
| Card type | # of txns | Volume ($) | Fees ($) | Rate (%) |
| Visa credit | ||||
| Visa debit | ||||
| Mastercard credit | ||||
| Mastercard debit | ||||
| American Express | ||||
| Discover | ||||
| Other / unknown |
Step 8: Your assessment
Based on everything above, check the statement that best describes your situation.
| □ | My statement looks clean. Effective rate is competitive, no unexplained fees, no red flags, rates have not changed. |
| □ | I have questions. Some fees I cannot explain, my effective rate seems high, or I noticed changes from last month. Time to call my processor and ask for clarification. |
| □ | Something is wrong. Multiple red flags, unexplained fees, rates do not match my contract, or my effective rate is above 3.5%. Time to get a second opinion. |
| Want a professional review? Send us your statement. Payzium will review your statement line by line and show you exactly where your money is going. Email: sales@payzium.com | Call: 888-546-4919 |
Transparent, reliable payment processing with clear pricing, consistent deposits, and responsive support.