Statement Analysis Training

Why do I ask for a statement?• Statements are the best and only way to accurately complete an analysis in our

industry due to the variables involved. There are no two statements alike, even from the same processor!

• What if the customer is hesitant to give me a statement? - Gain the customers trust

- Mark out any customer information associated with address, bank account, etc- You must communicate to the merchant that a statement is necessary to be able to illustrate what they are paying as there is not just “one” rate

* What other documents are helpful to carry around with me during the initial statement request presentation?INTERCHANGE! INTERCHANGE! INTERCHANGE!

A good clean copy of our statement examples

I have a statement what do I do next?

• Grab the processing bank buy rates and Interchange grids. You cannot do a proper analysis without Interchange by your side (unless you decide to memorize all rates on Interchange)

• Look for the following sections:

Statements are like school papers:*Introduction-(Usually contains Volume Summary)* Body-(Usually contains deposit/batch totals)* Summary-(Usually contains Fee summary)

These sections are usually in no particular order. They are just sections on every statement regardless of processor. It will be helpful to know these sections to eliminate the ones you need or do not need.

I have found my sections. What do I do with them?

Within the summary, the fees should be listed. Look for the Gold!

• 1.First thing:ANY monthly fees such as statement fee or PCI Fee. These are easy comparisons and you can pin point them out right away to keep the customer curious as to what you can bring back in terms of the analysis.

• 2.Secondly: Visa and MasterCard Volumes $$, Transaction #’s, Rates and or fees associated with these from the current provider. This is the main part of the statement and what you need to complete the analysis.

Found them! What do I do next?

• Use an analysis template preferably in excel to compare apples to apples. Tiered to cost plus or cost plus to cost plus.

• We will now go over Interchange, Cost plus vs. Tiered and a few statement example analysis

Going back to merchant to show your savings…

• Show savings analysis and points in analysis

• Point out other selling points if they apply:- Tiered pricing to cost plus - Our easy to read statements versus current- Any PCI Fees or other monthly fees that we will not be

charging- Other non necessary miscellaneous fees that current

provider is charging