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What’s the Difference Between Card Acceptance and a Deposit?

GP Logo Horizontal 140pxGlenbrook's Carol Coye Benson has just posted an article on our PaymentsViews.com blog asking the question: "What’s the difference between card acceptance and a deposit?"

In both cases, money is being delivered into a merchant’s bank account – in fact, a purist would point out that a deposit actually is the last stage of card acceptance for a merchant.

But consider instead a different kind of deposit – something that is more like the deposit of your salary into your bank account. In the U.S., this is done through our ACH system. Your employer sends a file to their bank, and a day or two later money is deposited into your account.

Your bank doesn’t charge you for accepting this deposit – in fact, they are glad to have your money come in. They pay a tiny processing fee to the ACH operator who sends the file to them. But no one pays anything like the “merchant discount fee” that a card-accepting merchant pays.

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