How to read your merchant statement

30 September 2026 · 3 minute read

Merchant statements are built to be filed, not read. But you only need two numbers, and every provider's statement has them somewhere.

Number one: card turnover

The total value of card payments you took in the month. It's usually called turnover, total sales, gross processed, or transaction volume. Big number, near the top.

Number two: total fees

Everything the provider charged you — transaction fees, monthly plan, terminal rental if bundled. Look for total fees, total charges, or the amount debited from your account for the month.

The maths, once: fees ÷ turnover = your effective rate. It's the honest, all-in price you pay to accept cards — flat plans, bundles and extras all included. Two businesses on the "same plan" can have very different effective rates.

Why this one number beats the advertised rate

An advertised rate is what one transaction type costs on a good day. Your effective rate is what the whole month actually cost you. It's the only number worth comparing between providers, and it's the number the checker on our front page works out for you in a minute.

From April 2027 this gets easier

Under the Reserve Bank's reforms, every provider must issue standardised statements — same layout, same labels. Until then, the two-number hunt is the way.

Check your rate free — 60 seconds →

FeeFox provides factual comparisons of your card fees against published market rates. What you do next is your decision. We are not financial advisers and this is not financial advice.