Do you even have an effective rate? If you accept credit cards you do and you should know what it is. The effective rate is the total overall cost to your business to accept credit card payments. A lot of credit card companies try to hide this number so you won’t actually know what you are paying and they can tell you that you are getting a good deal. But you should know what it is and it's really easy to calculate.
To calculate your effective rate you take the total amount that was deducted in fees for the month and divide that by the total amount you processed. So, if your sales were $100,000 and your fees were $3,000 your effective rate would be 3%. A good rate will be below 3% in most cases. If you sales are over $100,000 per month it should be lower than 3%.
Some companies charge their fees daily, some include them with software costs, but there is always a way to find them. I am happy to help you find your effective rate if your processor has made it hard to calculate. Just give me a call.