Amazing Service. The process was very easy to sign-up. Daniel at Tailoredpay was on top of his game! He made sure we were taking care of no matter what!
Thank you so much! I highly recommended Tailoredpay!
High Risk – No Problem
I own and operate an online company that is considered “high risk.”This was not an obstacle with Tailored Pay. They went above and beyond to provide the best rates with the best acquirers for my business. I definitely recommend any merchant to work with Tailored Pay.
Our representative was great he’s very…
Our representative was great he’s very person centered which made our business experience terrific
Great so far
Great so far. Processing is working well and my representative is very helpful and surprisingly responsive.
Communication was great and they…
Communication was great and they offered the lowest rate for our industry. I was talking to many different providers but TailoredPay offered many incentives, I do not regret it. Highly recommending using TailoredPay!!
Great Company easy communication and…
Great Company easy communication and great rates
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.
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