(mainly US, commerce) a document, usually negotiable, containing a signed promise to pay a stated sum of money to a specified person at a designated date or on demand Also called note, note of hand.
Before the amendment, retailers paid an average of 44 cents for a typical debit card transaction, then valued at roughly $38. The Durbin rules meant that for that typical $38 purchase, the maximum fee would be about 24 cents, 45% less than the average cost before the law took effect.
1 Debit fee â A debit fee is the transaction fee associated with each individual ACH debit, or payment from your customer to you. 2  It covers the cost of processing the transaction and ensuring the funds are transported from the customerâs bank account to your bank account through the ACH network. Credit Fee â A credit fee is the transaction fee associated with each individual ACH credit, or payment from you to a vendor, employee or other third party. 2  It covers the cost of processing the transaction and ensuring the funds are transported from your bank account to their bank account through the ACH network.