Marshall - 11:24 pm on Jan 24, 2012 (gmt 0)
My processor is treating them like credit cards. I would like to know if others who are ecommerce only are able to get the cheap rate for debit card processing.
To my knowledge, all processing terminals (in US) treat debit cards as credit cards insofar as the merchant fee is concerned. The only difference in processing as a debit card versus a credit card is the need to enter a PIN. Of course, now a days, credit cards have the VISA or MasterCard logo on it and, are in effect, credit cards against a specific account. Many banks require a backup account in the event the primary account is overdrawn, while others allow a small overdraft as long as it is covered within 24 hours. Depends who you bank with. But, a debit card does not (necessarily) offer you the same buyer protection as a credit card does even with VISA or MasterCard printed on the front.
Personally, I prefer the debit card. While a lot of people are suffering during these hard economic times and have my deepest sympathy, I can relax knowing I do not owe anyone anything. So, in effect, it is my way of screwing the banks.
As for the OP, you are never going to get away from processing fees. The financial institutions are, in fact, doing you a service and deserve to be paid for such. How much? That is another topic.
<rant>The advent of credit cards was the beginning of the downfall of everyone's' financial security, IMHO</rant>
<humor>Why do drive-up ATM's have Braille dots?</humor>