What is MTOT Disc? What to do about MTOT Disc.

What is MTOT Disc?

If checking your monthly account statement has led you to wonder what on earth “MTOT Disc” stands for, you are in the right place. MTOT Disc basically refers to the merchant account total discount fee charged by your payment processor or bank. MTOT means “merchant total” while Disc stands for the “discount fee”. The acronym is a generic one commonly used by merchant processors to describe your account processing fees.

This will most likely appear as a monthly deduction on your account statement. However, for a number of merchants, this fee may only appear cumulatively on annual account statements.

Why does ‘MTOT Disc’ appear on bank statements?

It is clear that some banks and merchant processors are better than others when it comes to transparency regarding merchant processing fees. When it comes to MTOT Disc charges, some merchants believe that unscrupulous merchant processors use MTOT Disc as an excuse to add unjustified additional fees to their merchant account statements.

Effectively, MTOT is a justifiable direct cost that can be billed for as part of customers’ monthly statements. However, some providers compound this cost and make large, single, non-itemized deductions which may raise alarm bells.

What to do when if you suspect unjustified merchant processing fees?

MTOT deductions should be clearly communicated to merchants at the point of the account registration. While some banks and payment processors such as TailoredPay are transparent about proposed fees, a few unscrupulous processors keep these charges hidden to prey on the ignorance of their clients.

For merchants, the key to dealing with these charges when ambiguity is detected is to file an

objection within 60 days of appearing on the statement. Furthermore, you can request to opt-out of your merchant account contract and register with a transparent merchant account provider that offers complete fee transparency.

MTOT Disc charges

Some business owners might find ambiguous charges on their accounts headed as MTOT, Disc, BANKCARD, BTOT (Bank total) or a combination of these. This is because of the common history that MTOT Disc and BankCard USA share.

Here are a few common related terms to help you identify these charges so that you can take appropriate action when required.

• Bankcard: This refers to a bank-issued payment card that can be used for buying and selling. It has no affiliation with the company incorporated as Bankcard USA (and that uses “Bkcard USA” as descriptors for their charges).
• MTOT: Merchant Total
• BTOT: Bank Total
• Authorization fee: This is the cost of authorizing a credit card transaction – not to be confused with an electronic authorization.
• Annual fee: This is a service fee that is charged for maintaining your account and keeping your account PCI-compliant. You can monitor this by updating your account to show annual fees on each invoice.

If you’re looking for a transparent merchant account provider that protects you from surprises with a clear fee structure, then contact TailoredPay today!