Am I overpaying for card processing?
Seven quick checks against your latest statement. If more than one or two lines come back higher than the published prices here, it is worth a minute with the calculator.
The seven-point check
Take your latest statement and work down this list. Each line compares what you are paying against the published Open Rates price for the same thing.
| Check | Worth a look if | Open Rates |
|---|---|---|
| Card machine | over £20/mo | £15/mo + VAT |
| Debit rate | over 0.50% | 0.32% |
| Credit rate | over 0.90% | 0.62% |
| Business card | over 2.50% | 2.20% |
| PCI compliance | over £8/mo | £5/mo + VAT |
| Authorisation | over 3p | 2p |
| Other costs | anything at all | £0 |
Warning signs on a statement
- A non-compliance fee — you are paying a penalty for a form nobody showed you
- A minimum monthly service charge appearing in quieter months
- Rates that have crept up since you signed, with no letter explaining why
- More than one terminal rental when you only use one machine
- A 48-month agreement that renewed without you agreeing to it
Why the headline rate fools people
Two businesses can both be quoted 0.40% debit and pay hundreds of pounds apart over a year. The difference sits in the authorisation fee, the machine rental and the PCI charge — none of which appear in the headline.
A shop taking 400 card payments a month pays £8 a year in auth fees at 2p and £432 at 9p. Same turnover, same percentage, very different statement.
How to confirm it in a minute
The calculator takes all seven of your figures plus your turnover and average transaction, and shows what you currently pay, what you would pay, and the difference per month and per year.
It asks for nothing else. No name, no email, no phone number — and nobody rings you unless you decide to take it further.