What does bank card MTOT disc mean?

merchant account total discount fee
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 an MTOT deposit?

MTOT definition: (Adj) An abbreviation of ‘MERCHANT TOTAL,’ meaning ‘merchant account total batch.’ It is often seen on business checking account statements. MTOT DEP means ‘merchant account total batch deposit.’

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 are Bankcard deposit fees?

Cost Summary

How does credit card batching work?

During batch processing, the merchant sends the authorization codes for every credit card transaction to its payment processor, and the processor categorizes the transactions by the bank that issued each customer’s credit card. Each of those banks then remits the payments to the merchant in a step called settlement.

What does BTOT mean?

BTOT

What is Gateway Services Webpayment?

Our credit card gateway service is a password protected Web site hosted by our parent company, Mountain Media. It turns your PC into a virtual financial management center. You simply login to the Web Payment Software™ to manage payment transactions from your eCommerce Web site.

What does BTOT stand for?

What bank is bankcard?

First National Bank of Omaha
That’s why First Bankcard, a division of First National Bank of Omaha, is a leader in the credit card partnership arena. Drawing on 160 years of experience, today we serve approximately 250 financial institutions, co-brand, and affinity partners nationwide.

What are Bankcard deposits?

A bank deposit card is linked to business accounts and allows for electronic deposits at all ATM machines. Each deposit card has its own pin and all deposits are recorded on your monthly statements. 2. Additionally, ATM cards have Visa/MasterCard logos that can be used for electronic purchases.

What’s the difference between Z totals and end of day banking?

Z Balance – A Z read is generally performed at the end of day trading and will provide a transaction total print and reset the terminal. End of Day – An End of Day report is performed at the end of day trading and will provide a Z Report and End of Day report.

What does a bankcard mtot disc do for You?

“Bankcard Mtot Disc” is a monthly charge from your credit card processor for running Mastercard/Visa transactions. This charge will vary according to volume of credit card transactions processed, the type of card (debit, reward, corporate, etc) your customer used, and the total dollar amount processed each month. The “INTUIT *QB ONLINE”…

What is the difference between mtot and disc?

MTOT means merchant total, while DISC is the discount fee. This is a monthly payment many merchants pay without even knowing about it. 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.

What does mtot stand for in bank card?

Our customer service team here at BankCard USA fields a lot of calls each day from business owners trying to discover the source of a mysterious charge on their business bank accounts. They tell us the charge includes “BANKCARD”, “MTOT”, “DISC”, or some combination of the three.

What does disc stand for on a bankcard?

They tell us the charge includes “BANKCARD”, “MTOT”, “DISC”, or some combination of the three. 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.