Bryan/College Station has led the nation in the per capita use of debit cards. And businessowners who handle that plastic should be getting some relief from processing fees.
Charlie Benbow of Brazos Valley Merchants says they’ve been working with their clients for more than 45 days about complying with new federal regulations. Benbow says debit card fees are supposed to be reduced by one percent.
Benbow says for a business that generates $25,000 dollars a month in debit card sales with an average ticket of $100 dollars, the new law should save businessowners over $2,500 dollars a year.
He recommends businessowners to compare future charges for debit card processing to what they’ve paid in the past to ensure they are receiving lower rates.
Charlie Benbow visiting with WTAW’s Bill Oliver.
Click HERE (courtesy of Brazos Valley Merchants) to learn more about the reduction in debit card processing fees, part of the Durbin amendment to the Dodd-Frank Act.