Understanding your account statements

Keep reading to find out all the information you need to understand your account statements.

 

Introduction

  1. DateThe account statement covers the period indicated here.
  2. MerchantThis is your ID number. It’s a good idea to have it on hand when you call customer service. If you own several businesses, use this number to determine which business the account statement is for.
  3. Account The account number indicates the account into which deposits are made and from which fees are deducted. 
  4. News box This section provides general information. 

 


 

Effective discount rate summary

  1. Effective discount rate summaryThis section presents the effective rate by card type. The effective rate for each merchant is calculated by dividing the total transaction fees paid to the acquirer by the total sales volume for the payment card type.
  2. Card typesOnly cards accepted by the merchant will appear in the summary. The card numbers in this section may change from one month to another depending on your client groups.
  3. Interchange rateThe interchange rate is the transfer rate that retailer’s financial institution (the acquirer) must pay the cardholder’s financial institution (issuer) each time a payment product is used. 

 


 

Summary of fees

  1. Summary of fees This section presents a summary of all the fees, organized by category. It provides an overview of the sections that follow (Visa, Mastercard, direct payment and other fees, etc.).

 


 

Exclusive advantages for members

  1. Advantages This section shows you how much you’ve saved in the last month as a member of Desjardins, or how much you could have saved if you became a member.

 


 

Visa fees

  1. Discount rateThe discount fees are the fees paid for each card based on the established rate. For example, in the first line, the discount rate for a Desjardins Visa credit card is 2.45%, so the total fees paid amount to $11.33.
  2. Card/Device present This section indicates that the card (or mobile device) was read electronically (including contactless interface or magnetic stripe).
  3. DesjardinsAll Desjardins Visa credit cards are grouped under this category (Visa Desjardins Business card, Desjardins Modulo Visa card, etc.). 
  4. Card/Device not present This section indicates that the card (or mobile device) was read electronically (including contactless interface or magnetic stripe). 
  5. Total The total equals the card/device present discount rate plus the card/device not present discount rate. 
  6. Network fees Fees collected by the acquirers on the volume of transactions and paid to payment networks. 
  7. Visa Network fees apply to the total volume of transactions made with Visa cards. 

 


 

Mastercard fees

  1. Discount rate The discount fees are the fees paid for each card based on the established rate. For example, in the first line, the discount rate for a Standard Mastercard credit card is 2.45%, so the total fees paid amount to $27.40. $.
  2. Card/Device presentThis section indicates that the card (or mobile device) was read electronically (including contactless interface or magnetic stripe).
  3. Card/Device not present This section indicates that the card (or mobile device) was read electronically (including contactless interface or magnetic stripe). 
  4. Total The total equals the card/device present discount rate plus the card/device not present discount rate. 
  5. Network fees Fees collected by the acquirers on the volume of transactions and paid to payment networks. 
  6. MastercardNetwork fees apply to the total volume of transactions made with Mastercard cards. 

 


 

Direct payment fees

  1. Discount rate Unlike Visa and Mastercard, the discount rates for direct payments are calculated for each transaction and there are no network fees.
  2. Card/Device present This section indicates that the card (or mobile device) was read electronically (including contactless interface or magnetic stripe).

 


 

Payment solutions fees

  1. Solutions This section is based on the types of payment solutions you use.

 


 

Administrative fees

  1. Administrative fees These fees will differ based on your profile. Administrative charges may include opening an account, postage, programming, installation, express installation, set-up, removal or return of a payment terminal, paper account statement, bank account deposit, processing non-Desjardins acquirer cards, insufficient funds, chargeback processing, or account cancellation.
  2. Paper statementIf you choose online statements, the recurring fees will be removed from your account and you will save $36 per year.

 


 

List of deposits

  1. List of deposits Summary table of accepted volumes and number of transaction per payment network per day.