AIBMS – or First Data, to be precise – will give you an interchange++ fee structure where transaction fees depend on the brand and type of debit or credit card. Usually, this is a percentage rate (e.g. 1%-3%) plus a fixed fee in some cases (e.g. €0.01-€0.15) with a fixed authorisation charge added on top (e.g. €0.02). Domestic consumer debit cards by Visa and Mastercard tend to have the lowest rates, whereas foreign, premium credit cards have the highest fees.
You may be offered a simpler pricing structure if the monthly card turnover is relatively small, but this usually means a higher fixed rate per transaction. Accepting American Express requires an extra contract with separate transaction fees.
In any case, there’s a monthly minimum service charge (e.g. €30) which is the minimum amount that First Data requires in transaction costs on a monthly basis. If, for example, you only owe €10 in card processing fees one month, you will still pay €30 to cover that €10 plus the service charge to make a total of €30 for card processing.
Various monthly charges apply as well, mainly for card machine rental, software features (for Clover in particular), PCI compliance and the merchant account. If you’re using a mobile terminal, you may also pay for SIM card usage.
There are also fixed costs for things like chargebacks and setting up. You can expect to pay extra if a terminal needs a replacement or repairs.
If you decide to leave the contract early, an early termination fee applies which could amount to hundreds of euros if there are several months/years left on the contract.
We strongly recommend close-reading any new contract with AIB Merchant Services, Clover and/or First Data as they all have rules about notice periods, termination fees and responsibilities around PCI compliance and terminal leases. It’s normal for merchants to be surprised about hidden fees after signing a payment contract.
The ‘Insight’ web portal for viewing transactions and reports is free to use, but we’ve seen a €7 monthly charge for the luxury of getting paper statements.