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Credit card processing statements can be confusing and hard to decipher. A really quick way to determine how much of your monthly processing is being paid out as credit card processing fees is to calculate your Effective Rate

The math is pretty simple: Effective Rate = Total Monthly Fees / Gross Monthly Volume 

Let’s take an example from a Gravity Statement.

Start with your Total Gross Sales Submitted. This is usually on the second or third page of your statement. Make sure you use the gross figure, as this is the amount your fees are based off of. Section of a processing statement.

In this case, that total is: $37,579.93.

Next, let’s find our Total Fees at the bottom of your statement. 

Section from a processing statement showing total fees.

In this case, that total is: $770.17.

Now that we’ve found those two totals, let’s run the effective-rate calculation: $770.17 / $37,579.93 = 2.05%

That’s it! 

Need a hand figuring out how much you’re paying for your credit card processing? We’d be happy to help walk you through it. Give us a call today!


Ashlie BlaskeAshlie Blaske is a Gravity business analyst. She writes regularly on processing and finance.

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