Annual Fees...

[MikeAMS]

Since we noticed there were a couple of questions regarding the several annual fees, we just thought it would be nice to clarify matters a little. Since it’s arranged a bit different in Europe and the US and our hq is based in Amsterdam, I will only talk about the European situation (doesn’t matter if the merchant is located anywhere else/outside Europe).

Once you signed up with most of the (officially registered) payment processors out there, you will often receive the request to settle your annual fee(s). First of all I would like to mention that in the end these annual fees have to be paid by Verotel to the credit card companies prior to the first transaction. They are necessary to cover the costs for the MasterCard payment facilitator program. It has to be paid by each individual webmaster/company as they will be registered as a submerchant with MasterCard via Verotel
For Visa (Europe at least) it’s arranged a bit different. This means that we (Verotel) do pay an annual fee for their services as well. But we pay this for all the merchants together at once. So we don’t charge them individually.
This means that most of the times we are a bit cheaper than some of our competitors from the US (when it comes to annual fees).

Other major cards like e.g. Diners Club International do not charge comparable fees.

Furthermore we would like to emphasize once more that if you can show that you have a certain average processing history (minimum of EUR 1.000 per week) we will move you over to our Verotel Premium package and we will waive the fee for you. For Verotel Basic we will waive the annual fee when the average weekly volume exceeds EUR 100.
So this means no additional annual costs at all!!

Feel free to reach out in case you may have any questions left!!!

[MikeAMS]

Hope its useful for some of you!!