Bank of America and RVDA Team Up to Offer Members Lower Credit Card Processing Rates

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Bank of America Merchant Services reaches out to RV dealers in a small, but potentially beneficial way by offering lower credit card service charges and swipe fees to RVDA members. Pedata RV notes that this is a small but positive step towards helping an industry hurt by the current economy.

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We are taking advantage of the discounts. Our customers use their credit cards for deposits, down payments, RV service and RV rentals. Small rate changes can mean thousands of dollars to a large volume RV dealer. It's a great thing to offer the industry.

As the economy weighs heavy on the RV industry, Bank of America Merchant Services reaches out to RV dealers in a small, but potentially beneficial way by offering lower credit card service charges and swipe fees to RVDA members.

Average service charges imposed by merchant account providers in 2008 for Visa and MasterCard swipe transactions were anywhere from 2.5% to 5.5% depending on the business' monthly volume. Transaction fees in 2008 averaged anywhere from 30¢ - 45¢ per item. Bank of America Merchant Services, endorsed by RVDA, announced last week that it will offer 1.74% service charge and 10¢ per item fee to RVDA members.

"Pedata RV feels this is step toward bringing a failing industry back. While this isn't a huge difference in fees B of A offered in 2008 to RVDA members, it is better, and every little bit helps these days," says Clint Ethington of Pedata RV, who has been a long time customer of Bank of America Merchant Services. "We are taking advantage of the discounts. Our customers use their credit cards for deposits, down payments, RV service and RV rentals. Small rate changes can mean thousands of dollars to a large volume RV dealer. It's a great thing to offer the industry."

Chuck Boyd of RVDA says each RVDA member should follow up with Bank of America to ensure you are receiving the adjusted rates. RVDA members can call Jay Machamer with Bank of America Merchant Services at 678-784-0567 or e-mail jay.e.machamer (at) bankofamerica (dot) com. To become an RVDA member and take advantage of this program, call Chuck Boyd at 703.591.7130 or by e-mail at cboyd (at) rvda (dot) org.

For More Information:
For more information on Pedata RV Center or current trends in the RV industry contact Clint Ethington, General Manager, at clint (at) pedatarvcenter (dot) com or by phone at: 1-888-545-8314 or 520-807-0900. Or visit Pedata RV Center online at http://www.pedatarv.com.

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Clint Ethington


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