What is MTOT disc on my bank statement?

MTOT DISC is the term that means merchant account total discount fee. MTOT means merchant total, while DISC is the discount fee. The generic charge seems like a mystery to many merchants as they have no idea why they had to pay a substantial sum of money. MTOT is a part of the bank’s monthly statement deduction.

What is the difference between BTOT and MTOT?

BTOT and MTOT have become line items. With MTOT being the monthly total, BTOT is the bank total.

What is a BTOT deposit?

When you see “BANKCARD-3241 MTOT DEP” or “BANKCARD-3241 BTOT DEP”, that is the automatic direct deposit from your payment gateway for the sum of all transactions processed within a day. The name listed on your bank statement may vary from one payment gateway to another.

What is Intuit payme?

Intuit Payment Network (ipn.intuit.com) is a payment and money transfer service created by Intuit Inc., the maker of the popular small business accounting software, Quickbooks. The service is similar to those of PayPal and Dwolla and allows for bank-to-bank money transfers and payments as well as credit card payments.

What are BankCard deposit fees?

Cost Summary

What is a bank card discount fee?

A discount rate is a fee associated with collecting, assessing, approving, processing, and settling credit card transactions. This fee is often a percentage of the transaction value.

What does BTOT stand for?

BTOT

Is paying through Intuit QuickBooks safe?

Yes, millions of customers know that Intuit payments are made secure. QuickBooks is also designed with encryption technology that helps guarantee the security and safety of customer data. Intuit payments are made secure with the use of SSL and RSA that enables message encryption.

Is connect Intuit Com safe?

Intuit software products, including QuickBooks Online and QuickBooks Self-Employed, protect your transactions with multiple layers of security so you can bank online with confidence. The connection for online banking is always “read-only” so that no one can use any of your information in our product to move any money.

What is bankcard settlement?

A settlement is just another way of saying the transaction is complete and will be done as soon as the credit or debit card was swiped. Businesses can work with their credit card processing company to see if they are going to have any type of transactions that will settle immediately.

Is a credit card a bank card?

Bank cards let customers access funds in checking or savings accounts or make purchases against a line of credit. ATM cards, debit cards, and credit cards are all considered types of bank card.

What is the Visa transaction fee?

Average credit card processing fees: 1.3% to 3.5%

Is there such a thing as a bankcard mtot disc?

BankCard Mtot Disc i signed up with them, they advertised theirs services was for free, but its was not , they trick me with theirs services. 9 month later they charged me $ 179.99 for annual fee which was a scams. be a… Date occurred: 12/19/2016 Reported Damage: $179.99 clifford Posted: 12/20/2016 46 Related Reports View All BankCard Mtot Disc

Who is David Wells from Bankcard mtot disc?

BankCard Mtot Disc field rep david wells called said new new machine for chip credit cards now, free no charge, he closed out old account and started new( did without my knowing it) an now both company’s taking my mone… Date occurred: 05/02/2016

What does Mtot stand for in bank card?

MTOT stands for Merchant Total; DISC stands for the discount fee; and BankCard refers to your acceptance of credit and debit cards from your customers.

Are there any Mtot companies or btot companies?

They are not tied to a particular company. There is no MTOT company or BTOT company. Like all industries, there are unscrupulous companies and reps out there. If you do not understand these charges or they are not matching your statements from the merchant services company, then investigate it. Make your rep or the company explain the variance.