What Is MTOT Disc?

What is MTOT Disc?

MTOT Disc stands for merchant account total discount fee. It may appear as a fee on your monthly account statement. Some merchant processors have used it in the past as a way to surreptitiously add extra fees to merchant statements.

MTOT Disc on Bank Statements

MTOT is part of the monthly statement deduction by the bank. It's their direct cost. This deduction may stay hidden, and customers might not know about it until they review their yearly expenses.

Some banks choose to reveal their fees upfront and make merchants aware of the different types of charges they'll incur as a customer. However, the matter gets more complicated when a merchant is trying to figure out their monthly expenses. Instead of steady monthly fees, the deduction is sometimes made yearly.

Are Processing Fees Transparent?

Before you sign up for a merchant account, the bank should disclose fees upfront. Regarding the MTOT Disc fee, it's common that a merchant was uninformed while registering for a credit or debit card account.

The charges range from bank to bank and person to person. A common range for the fees is from $40 to $150.

Some banks instate this as a processing fee, cultivating the client's trust. If you want to report an issue with the charge or create a dispute, be sure to do so within 60 days of it appearing on your statement.

MTOT Disc and BankCard USA

MTOT Disc and BankCard USA have a history together. This company uses this term along with BTOT to display certain fees. BTOT stands for Banking Total.

The disclosure of this deduction impacted many customers when the statement showed debits above $150.

Key Terms and Fees

MTOT Disc Meaning:

• BTOT and MTOT have become line items. MTOT is the monthly total, while BTOT is the bank total.

Authorization Fees:

• Don't confuse authorization fees with electronic authorization. Electronic authorization is for online payments via credit card.

Monthly Fees:

• If you notice a "monthly fees" deduction, the transaction is mostly from accepting credit cards through your merchant account.

Annual Fees:

• To help you monitor your account fees, update the account setting to show annual fees on each invoice. It is roughly around $40 per year for each debit or credit card.

Remember to review your merchant account statements regularly and reach out to your payment processor if you have any questions about fees or charges.