What is MTOT Disc?

MTOT Disc means Merchant Account Total Discount fee. It can show up on your monthly account statement in the form of a fee. It has been used by a few merchant processors in the past for adding some additional fees in a sneaky way to merchant statements.

Bank Statement and MTOT Disc

MTOT happens to be made by the bank, and is regarded as a part of the deduction in monthly statement. This is the direct cost of the bank that deducts the money. The deduction might appear to remain out of view, and thus – could be out of the knowledge of customers of the bank. It could only be brought to their notice in case and when they check their yearly expenses.

There are several banks that charge this fee in a clandestine way. A few of these charge this money in a less transparent manner. That said, quite a few banks prefer to reveal such fees upfront. This lets merchants know about the various kinds of charges that they are likely to pay as a customer. 

The MTOT Disc fee affair gets even more complicated while monthly expenses are being figured out by a merchant. At times, the deduction made annual rather than monthly. 

Transparency of Processing Fees

A bank, prior to a customer signing up for a merchant account, needs to reveal the fees upfront. When it comes to the fee for the MTOT Disc, a merchant is often not informed about the same when he / she signs up for a debit or credit card account. 

Keep in mind that the charges tend to vary on a person-to-person as well as a bank-to-bank basis. $40 – $150 is the kind of fee that is charged commonly. However, this is instated as a fee for processing, thus managing to earn the trust of customers. In case you would like to create a dispute or report a problem with the charge, you must do it in 60 days from the date of it showing up on your bank statement.

BankCard USA and MTOT Disc 

BankCard USA and MTOT Disc go back some way in time. This term is used by the agency along with BTOT for showing specific fee. Banking Total is what is indicated by BTOT. When this deduction was revealed, a lot of customers were affected when their bank statement displayed a debit of more than 150 USD.