Understanding the charges on your statement
Scheme fees, processing fees and VAT, and where each one appears.
Charges are grouped so you can see what drives your costs.
- Processing fees - charged per transaction against the relevant account.
- Scheme and interchange costs - passed through where your agreement is on an interchange-plus basis.
- Service and equipment charges - fixed items billed for the period.
- VAT - applied to fees where due and shown separately.
Compare periods using the same date range and account selection so the totals are like for like.
The video follows the same steps as the SOP, so you can read and watch together.