Checking Services and Credit- Card Transactions

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Presentation transcript:

Checking Services and Credit- Card Transactions Section 5.2 Checking Services and Credit- Card Transactions

Bank Services available to customers ATM cards Overdraft Protection Return-Deposit Item Stop-Payment Order Cashier’s Check Money Order Notary Service Online Banking

Deposits w/ Credit Card transactions Credit card sales are deposited into a business checking account with a merchant batch header ticket. Sales Refunds (Credits) $218.68 $468.17 $73.82 $106.18 $75.96 $132.36 $524.36

Discount fees on credit-card deposits Businesses that deposit credit-card transactions are charged a fee by the bank.(usually 2% - 5%) It varies based on: Type of processing (electronic or manual) Dollar volume of credit-card usage Average amount of sales

Find the fee charged and the credit given to the merchant at the statement date if the company pays a 2 ½ % fee: Sales Refunds (Credits) $218.68 $468.17 $73.82 $106.18 $75.96 $132.36 $524.36