Running a successful dental practice can make you feel like you need to have expertise in  everything. Navigating credit card processing fees can be complex, so here are some tips from MDA-endorsed Best Card to ensure you don’t sign something you regret.

1. Understand your costs and watch for increases. It’s important to have a basic understanding of credit card processing costs. Often, processors will sign you at a low rate, then regularly raise costs until the pricing you signed up for bears little relation to what you pay now.

To find your monthly effective rate, divide your total fees by your total sales. Best Card’s average dental office pays about 2.18%. You can send a recent statement to CompareRates@BestCardTeam.com or fax to 866-717-7247 and they can tell you how much you could save every month!

2. Always get early termination fees in writing. It’s common for processors to verbally claim “no contract,” yet have excessive fees listed on the signed agreement. These are commonly $250-$799, but some processors add in clauses that can make them even more expensive. It is not uncommon for dental offices to pay over $100,000 in early termination fees due to lost profitability clauses, despite the sales person saying there was no long-term contract at signing.

3. Never lease terminal equipment. Leases are probably the most expensive way to get equipment. During the term of the lease, you will pay multiple times more than the actual equipment costs. Usually “free” equipment actually means signing a very expensive commitment.

Best Card is the endorsed credit card processor of the MDA and offers exclusive member pricing, saving the average dental offices $2,768 (24%) and providing great customer service. The MDA itself has been processing members’ dues using Best Card since late 2017, as part of the vetting process, and has realized significant savings and has experienced superior service.

Best Card has no leases or hidden fees and provides a wide range of processing options to suit any practice, including:

EMV “chip” credit card terminals
• Already own EMV equipment? Best Card often can redownload the terminal at no charge.
• Need equipment? MDA-special pricing: New terminals for as little as $169 to own with 2-year warranty.

Online Processing Systems
• Use office computers with the option of recurring and website payments. Best Card now offers Paylink, a program that automatically posts payments into popular dental practice management software (Dentrix, Eaglesoft, Open Dental & PracticeWorks—more to come).
• Mobile Processing options using smartphones and tablets.

Call 877-739-3952 to learn more, or send a recent statement to CompareRates@BestCardTeam.com or fax to 866-717-7247 to see how much you could save.