Definitions for "Monthly Minimum"
Keywords:  merchant, minimum, discount, worth, met
The majority of Merchant Providers have a monthly minimum. This is a fee that is imposed if your credit card charges (Discount Rate) doesn't add up to their monthly minimum. For example, your monthly minimum is $25 a month. If you only sold $100 worth or products for that particular month, then it would cost you say 2.39% for charging the card, 30 cent transaction which equals to $2.69. Now, that is $25 - $2.6 = $22.31, so you would be charged $22.31 for that particular month.
The least amount of total monthly charges that a specific long distance plan requires. Example: If a specific long distance plan has a monthly minimum of $20 but only $15 worth of calls are made that month, that customer will still be charged $20. Any total under the monthly minimum is rounded up to meet that monthly minimum. Some long distance plans have monthly minimums while others do not.
This is the amount of fees you must meet each and every month, usually $25. If month sales do not make the monthly minimum the merchant account holder must make up the difference.