Understanding Billing Statement Terminology

The following list will help you become acquainted with the possible terms you might encounter as you read your billing statement:

Payment: When funds are actually taken from your account for fees associated with use of the RTWare.net service, that transaction will be described as a payment.

Billing: When a bill is assessed to your virtual balance, it is described as a “billing.” This does not indicate that money has been taken out of your account. The actual charge to your account for a bill is described in a different entry as a “payment.”

Transfer: On your billing statement, this term is used to describe a transfer of funds from your RTWare.net billing reserve in order to offset your balance.

eCheck: An eCheck.Net payment is a billing to the merchant’s checking account for the outstanding balance. This payment is automatically processed by the system during the billing cycle.

eCheck Minimum Processing Fee: This is the monthly minimum amount paid for use of eCheck.Net.

Gateway Fee: This is a fee paid for the right to use the RTWare.net service.

Credit Card: This is a description of a bill that is assessed to your credit card for services (used as a means of secondary billing—eCheck.Net will usually be used.)

Intra Account: This is the “item” description for a transfer, and indicates a transfer from the billing reserve to offset your billing balance.

Chargeback Fee: This is a fee for a eCheck.Net chargeback, which occurs if the customer withdraws authorization for an eCheck.Net transaction.

eCheck Returned Item Fee: Should an eCheck transaction be returned by a customer’s bank, a returned item fee is assessed.

eCheck Transaction Fee: This is a fee that is assessed on a per-transaction basis for use of the eCheck.Net service.

eCheck Discount Fee: This is a fee that is assessed according to total funds from eCheck.Net transactions.