Have you been Durbined?
Have you been Durbined? Chances are you have, and don’t even know it.
The Durbin Amendment, which was part of the Dodd Frank Act, went into effect Oct. 1, 2011. This article written by David S. Evans explains the positive and negative effects of the new legislation, and helps merchants better understand the repercussions of the Durbin Amendment.
There are meaningful results such as lower debit card rates for merchants. However, those lower rates come at a price when it comes to dealing with banks. The included article does a great job of explaining the increased costs banks are now charging to make up lost revenue thanks to the Durbin Amendment.
Back to those lower debit card rates, are you sure your business in getting them? Credit card processors aren’t mandated to pass on those lower rates, and, based on your current credit-card pricing structure you may not be receiving them.
Premier Merchants Group can ensure you receive those savings. Let us take a look at your monthly credit card statement, do an analysis, and find out if you’re receiving the savings the Durbin Amendment allows. The analysis is free and comes at no obligation.
Fax your monthly credit card statement (make sure to include every page front and back) to 1-855-764-2867 or email it to firstname.lastname@example.org to ensure you’re receiving the savings.