Monthly Discount vs. Daily Discount
Matching your daily credit card totals to your bank account deposits should be a very simple procedure. In the case of Daily Discounting, it is implemented by many credit card processors in today’s business environment to simply mitigate risk. Here are the differences:
Monthly Discount: Assuming the daily totals from your credit card terminal equal $500, with Monthly Discount you would receive a deposit in the amount of $500. Any card processing fees associated with your merchant account are debited from your bank account at the end of the month.
Daily Discount: In the case of Daily Discount, the $500 total would result in a deposit of approximately $490.00 with the difference being fees assessed by your processor. At the end of the month, your merchant account is also charged any remaining fees not assessed during the month. With Daily Discount, it posses a difficult challenge to match your daily credit card totals with deposits into your bank account.