- Find total monthly card sales
- Find total monthly fees
- Calculate effective rate
- Identify monthly and annual fees
- Look for PCI fees or non-compliance fees
- Check chargeback and retrieval fees
- Separate pass-through costs from processor markup where possible
Processing audit checklist
A practical credit card processing audit checklist for small businesses.
A credit card processing audit should review total fees, effective rate, processor markup, contract terms, payment methods, deposit timing, chargebacks, reconciliation, support quality, and whether the current setup still fits how the business gets paid.
Review-first boundary
HMG reviews actual statements and payment workflows before making claims about savings, switching, or processor fit.
Useful input
A recent merchant statement and a short note about how customers pay today usually gives the review enough context to start.
Plain-English guide
What to review before making a payment processor decision.
Use this as a practical starting point. It is not a guarantee that a different provider is better.
- How are invoices sent?
- How are cards accepted?
- Is ACH available and actually used?
- Are deposits easy to match to invoices?
- Are failed payments followed up quickly?
- Does the processor support your actual use case?
- Is there an early termination fee?
- Is equipment leased or owned?
- Are rates fixed, tiered, flat-rate, or interchange-plus?
- Are annual increases or pass-through adjustments clear?
- Can you reach a knowledgeable person?
- Are issues resolved quickly?
- Do you understand your statement after asking questions?
- Does support help with reconciliation, ACH, or invoicing workflow?
FAQ
Common questions before requesting a review.
How often should a business audit processing fees?
At least annually, and any time fees increase, payment volume changes, or the business changes how it collects payments.
Should the audit only focus on rates?
No. Rates matter, but workflow, support, contract terms, ACH fit, and reconciliation can matter just as much.
Can I use this checklist before talking to HMG?
Yes. It helps you organize the statement and questions before requesting a review.