Any Credit Card/debit card and EFT Processing vendor for insurance brokerage?

[insuranceforever1]

Hello everyone,

I would like to ask for your help regarding the credit/debit card and EFT processing vendors that you use for your insurance brokerage. I'm curious about who pays for the card processing fees, is it the brokerage or the insured? Additionally, I'm interested in learning which vendor has a good quality of service and offers low rates.

If you could kindly share your experiences and recommendations, it would be greatly appreciated. Thank you!

 

[MIGA1626]

I got setup up with a cash management system at my back. They had to vet me because there are technically advancing money that day. If it is ran and if it doesn't go through its on you to pay it back. (This however is the same with vendors). I did use "epay policy" but they kept slowing my transactions down to 5 business days which ended up being 7-8 real days after charging more for the faster service. ($30/month and the client gets charged 1% of the payment up to a max of $5.00/payment) I use the cash management system at my bank for agency bill E/S down payments and for my premium finance company. For my premium finance company it is great because I can set 9x automatic payments after funding the carrier and the money comes back in automatically.

 

[Al3x Lee]

We use ePay policy. The insured pays the processing fees