I cannot work out how the banks set their merchant fees for Eftpos and credit cards. I have one business doing huge numbers each month paying more than another doing less. Another bank comes along and offers a considerable discount to win the business and my bank responds with a discount to keep the business. I am curious as to what the low point might be.

All this discounting makes me even more cynical about bank fees. Better customer service would see banks adjust their fees to ensure they always remain competitive and not just when they face losing the business.

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