Also - from the FAQs page of the Omega Website:
Quote:
Q: What is the "Merchant Discount Fee" that you withhold from payments? Can I charge members for the "Merchant Discount Fee" when they pay by credit card?
The Merchant Discount Fee is solely associated with credit card payments. It is the fee the bank charges you for the liability associated with credit card payments and for the time value of money. Typically, when a member pays by credit card, you receive payment in a more timely fashion because the member might not otherwise be able to pay at that time. Also, once the payment is approved payment to you is guaranteed, even if the member does not pay the credit card company.
The Merchant Discount Fee cannot be passed on to the members. It is a violation of the merchant agreement to charge a card user the "Merchant Discount Fee" applied to credit card transactions. Despite the fee associated with credit card payments, this payment option will likely benefit your chapter in the long term.
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*edit* okay, so I was mistaken when I said it was 'against the law.' I meant that it violated the merchant agreement.
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Last edited by amanda6035; 04-22-2008 at 10:54 AM.
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