This is when the processing companies take out a portion of the fees
everyday. Meaning: Your credit card sales were $500.00 but you only
received $482.11. The difference of $17.89 goes into the pocket of the
processing company. You are not required to have your fees assessed every
day. It is your money, you keep it until the fees are assessed at the end
of the month. Use it for your cash flow. Do not let the processing
companies use it for their cash flow.
Also, when you receive your statement at the end of the month, the daily
discounting fee is not clearly stated on the statement so it appears that
your fees are much lower than what they actually are.
Reconciliation of fees is easier when your fees are clearly listed on your
processing statement and are not deducted daily. A single line item is
deducted from your checking account.
Credit Card Processing Expert