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That stat about Canadian payment processing fees blew my mind
Was looking into Stripe alternatives for our small startup and found out Canadian merchants pay almost 1.5x more in credit card fees than US ones do. Found the number on a Payments Canada report from last quarter. Our interchange rates here are just brutal compared to the states. Anyone else look into this and find a better processor for Canadian businesses?
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ninas675mo ago
Right there with you, Matthew, I switched banks last year after getting hit with nearly $400 in surprise processing fees.
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matthew1665mo ago
Yeah I used to just assume fees were basically the same across the board, but that Payments Canada report really changed my mind on how much we're getting squeezed up here.
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taylorc405mo ago
Oh man @matthew166, it's wild how much those hidden fees pile up without us even noticing lol. I remember when I first saw that Payments Canada breakdown and I was legit shocked at how much extra we're paying just to move our own money around. The thing that got me is how banks make it sound like it's basically nothing, but when you actually add it all up over a year it's hundreds of dollars in some cases. And what drives me crazy is how hard it is to even compare fees between different banks because they bury them in fine print and weird categories. You really gotta read those agreements carefully or you'll miss half the charges. Canada needs way more transparency on this stuff for sure.
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