Understanding Elavon Credit Card Processing Fees

Elavon credit card processing fees can be a mystery to many business owners, but understanding them is crucial for making informed decisions about your payment processing.

Elavon charges a base rate of 2.3% + $0.10 per transaction, which is a competitive rate in the industry. This rate applies to most types of transactions, including card-present and card-not-present transactions.

For businesses that process a high volume of transactions, Elavon offers a tiered pricing structure that can help reduce costs. The exact pricing details can be found in the Elavon pricing schedule.

Elavon also charges a monthly minimum fee of $10, which is waived if your monthly processing volume exceeds $1,000. This fee is a common practice in the payment processing industry.

Convenience fees are a charge imposed on customers for using a credit card or debit card, passing the fees associated with accepting that payment back to the customer.

This fee helps businesses recoup costs associated with merchant services fees, which can be structured as a flat fee, such as $1 per transaction, or as a percentage of the transaction amount.

By implementing convenience fees, businesses can manage their payment processing costs more effectively while still offering customers the flexibility of using credit cards.

On a similar theme: Accounting for Credit Card Processing Fees Charged to Customers

A convenience fee is a charge imposed on customers for using a credit card or debit card, essentially passing the fees associated with accepting that payment back to the customer.

Businesses use convenience fees to recoup costs associated with merchant services fees, which can be significant. This fee can be structured as a flat fee, such as $1 per transaction, or as a percentage of the transaction amount.

By implementing convenience fees, businesses can manage their payment processing costs more effectively while still offering customers the flexibility of using credit cards.

Check this out: Can You Pass Credit Card Processing Fees to Customers

Convenience fees are often confused with service fees, but they serve slightly different functions. Service fees, like Elavon Service Fees, cater to specific industries, such as public utilities and educational institutions, allowing them to balance budgets effectively.

Elavon Service Fees enable organizations to pass credit card processing costs directly to customers, helping businesses avoid one of their largest operating expenses after labor. Credit card processing fees can total between 1-3% of each transaction.

Service fees and credit card surcharges are not interchangeable terms, although they are often used that way. Credit card surcharges give businesses the option to offset credit card processing fees directly with customers, encouraging alternative, lower-cost payment options.

Convenience fees, on the other hand, have specific conditions for application, and certain states prohibit or restrict credit card surcharges, adding a layer of legal consideration for businesses.

Elavon Service Fees are applied as separate transactions, either as a flat fee or a percentage of the purchase. This flexibility lets organizations choose a fee structure that aligns with their financial goals.

The Elavon Service Fee amount must be reasonable and reflective of actual processing costs.

Elavon Surcharging offers a cost-capped alternative, limited to 4% of the transaction total. Surcharges apply only to credit card payments, making them a strategic choice for businesses with predominantly credit card transactions.

Here are some key Elavon credit card processing fees:

Elavon Service Fees are applied as separate transactions, either as a flat fee or a percentage of the purchase.

This flexibility lets organizations choose a fee structure that aligns with their financial goals.

The fee amount must be reasonable and reflective of actual processing costs.

Elavon Surcharging offers a cost-capped alternative, limited to 4% of the transaction total.

Surcharges apply only to credit card payments.

Businesses with predominantly credit card transactions can benefit from surcharging.

By informing customers of the surcharge, businesses can motivate them to choose fee-free alternatives.

Credit Card Convenience Fees apply only to non-standard payment channels.

These fees provide a way to recover costs when payments deviate from standard methods.

Credit card convenience fees must be a fixed amount, rather than a percentage.

Strict compliance with credit card brand regulations is required.

Worth a look: Credit Card Processing Recurring Payments

Elavon offers a pricing structure that's designed for businesses of all sizes.

Pricing starts at $0/month for businesses using U.S. Bank Merchant Services.

The contract length varies, which can be a concern for some business owners.

Elavon uses an interchange-plus, flat rate processing model, which can help businesses save money on certain transactions.

The card-present transaction fee is 2.6% + $0.10 via U.S. Bank.

Here's a breakdown of the fees:

Equipment costs are $0+ via U.S. Bank & talech.

Convenience fees are a thing with Elavon, but only for transactions that aren't face-to-face. This means you'll see them on online payments, but not on in-person transactions.

Convenience fees are a flat amount, regardless of the payment value. They're collected right at the time of payment, not later or in a separate transaction. You'll know about the fee before you complete the transaction, and you'll have the chance to cancel if you don't want to pay it.

Elavon claims to have no hidden fees, but that's not entirely accurate. There may be occasional extra fees for things like chargebacks, and you should always read your contract carefully to understand all the possible payment processing fees.

Convenience fees are permissible in the U.S. as long as they're fixed and don't exceed 4% of the transaction.

Businesses can charge a fixed convenience fee, such as $1 per transaction, to cover the costs associated with merchant services fees.

In the U.S., convenience fees must meet specific card brand and state requirements. Certain jurisdictions prohibit surcharges, so it's essential to check the local regulations.

Credit card surcharges, which are additional fees merchants apply to cover processing costs, are subject to various legal restrictions. Some states prohibit or restrict these surcharges, differentiating them from convenience fees.

Convenience fees have specific conditions for application, which is why it's crucial to ensure businesses adhere to these rules to implement them effectively and legally.

Elavon claims there are no cancellation fees. However, it's essential to read your contract carefully to understand all possible payment processing fees.

Elavon also claims to have no "hidden" fees included with its merchant accounts. This means you won't be surprised by unexpected charges.

You'll still want to review your contract to confirm you're getting what your sales agent promised. This will help you avoid any potential discrepancies down the line.

Elavon's sales transparency is a major concern for merchants. They use independent sales agents who have a reputation for not disclosing important contract terms and using high-pressure tactics.

Elavon's sales agents are not employees, which can make it difficult to hold them accountable. This lack of transparency can lead to merchants feeling cheated by the company.

Elavon claims to have no hidden fees, but this is a suspect claim. There are always going to be occasional extra fees for things like chargebacks.

Elavon's contract should be read carefully before signing up to understand all the possible payment processing fees. This will help merchants confirm they're getting what their sales agent promised.

Independent sales agents are known for failing to disclose important contract terms. This can lead to merchants signing up for services they don't fully understand.

Elavon offers a range of products and services to help businesses manage their payments.

Their product line is expansive and thorough, covering in-person payments, online payment gateways, eShop, mobile payments, and ePOS solutions.

In-person payments are made easy with a leased Ingenico payment terminal and payment processing.

Elavon's online payment gateways support currency conversions, instant order notifications, and are compatible with over 60 third-party platforms.

You can choose from a hosted payment page or an API to process payments directly on your website.

Their eShop solution includes a website, inventory management, and payment processing, making it a comprehensive ecommerce operation.

Mobile payments are also supported with a card reader that connects to your phone to take payments on the go.

Elavon's ePOS solutions are available for hospitality and retail, and also support a loyalty card system called Fanfare.

Their services include Merchant Cash Advance and Business Credit Cards.

Here are some details on Elavon's eShop fees:

Elavon offers a range of products to help you manage your payments and business.

You can lease an Ingenico payment terminal for in-person payments, which is a great option for brick-and-mortar stores.

Elavon provides online payment gateways, either a hosted payment page or an API, to process payments on your website. Both options support currency conversions and instant order notifications.

If you want to run an entire ecommerce operation, Elavon's eShop is a great choice, including a website, inventory management, and payment processing.

For mobile payments, Elavon offers a card reader that connects to your phone.

Elavon's ePOS solutions are available for hospitality and retail, and also support a loyalty card system called Fanfare.

Here are some of the key features of Elavon's ePOS solutions:

Mobile payments with Elavon are a convenient option for businesses. You'll need to pay £29+ VAT for the card reader to get started.

To use this product, you'll be charged per transaction, ranging from 1.75% for VISA and MasterCard to 2.5% for Discover and JCB. American Express can be accepted for a 1.9% transaction fee.

Elavon offers self-serve support options, including in-depth documentation and videos that walk you through common issues and setup processes.

Their customer portal provides instant access to key information, such as transaction logs. This can be a huge time-saver when you need to troubleshoot a problem.

Elavon also offers 24/7 customer support, which is a big plus, but online reviews suggest that the quality of service can be lacking.

Elavon offers self-serve support options, including in-depth documentation and well-produced videos that walk you through common issues and the setup process.

These resources are easily accessible, making it simple to find the help you need. However, customers on Trustpilot have been critical of the quality of customer service, citing slow replies and disorganised operations.

Elavon has a 24/7 customer support team, but technical support for integration is only available via email, with no published availability. This can make it difficult to get the help you need in a timely manner.

Despite these services, many customers have reported incorrect fines and fees due to organisational issues within the company.

Elavon's customer support is not highly rated, with a 1.4/5 rating on Trustpilot.

Reviews on Trustpilot are not very positive, with Elavon receiving a low rating.

If you're considering Elavon, you may want to explore other options for discounted rates.

Elavon still offers three-year contracts, which can be a concern for some businesses, especially with no clear indication of an early termination fee.

You'll need to follow the procedures outlined in your contract carefully if you decide to close your account before the contract term runs out.

Be aware that Elavon includes an automatic renewal clause for one to two years in its merchant agreements, making it more difficult to close your account without providing adequate notice.

If you purchase an Elavon merchant account through U.S. Bank Merchant Services, you'll have a month-to-month contract with no long-term commitment, which is a more flexible option.

There is no fee for cancelling your partnership with Elavon, but you'll still need to agree to a contract before using the service.

Terminal leases through Ladco Leasing are under a separate contract, which usually runs for four years and cannot be canceled without buying out the remaining months of the agreement.

Curious to learn more? Check out: What Is a Merchant Account Fee