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This is a marketing ploy by Intuit - in reality you aren't getting flat pricing on a significant majority of your transactions under their new plan. For a very
by pitdesi 15y ago
This is a marketing ploy by Intuit - in reality you aren't getting flat pricing on a significant majority of your transactions under their new plan.
For a very small portion of transactions you get a very good rate (1.7%flat) under the new pricing (if you pay the $13/month), but tiered pricing means they can charge you the non-qualified rate whenever they want. “Non-qualified” means whatever the hell they want it to, and ultimately the vast majority of your transactions/cards will fall under that pricing tier and you’ll pay 3.7% plus 22 or 37 cents on them. (non-qual rates still have what they call an authorization fee appended to them – 22 cents or 37 cents based on what plan you choose). In our experience, typically over 70% of the transactions are non-qualified. My guess is that Intuit will give you the qualified rate for debit cards and some standard cards (but these days everyone uses rewards cards).
To be a little honest, I'm shocked that TC didn't do a little more research for this article (not to mention the huge number of other errors this article is riddled with). I just wrote a blogpost explaining this in a bit more detail: http://feefighters.com/blog/intuit-drops-per-transaction-fee-sorta-is-it-now-a-good-deal-hell-no/ http://feefighters.com/blog/intuit-drops-per-transaction-fee...