See answers below for additional Detail...In most cases this can be avoided if you enter the billing zip code on a key entered transaction. There are some other issues which can cause the transaction to downgrade to EIRF (see below) but in most cases its the zip code on a key entered transaction. Interchange will change from EIRF to key entered and reduce your interchange cost by 1/2% OR 50 Basis points.
Any time you leave a batch open over 48 hours, you get EIRF'ed. Interchange goes up to 2.3% + $0.10 for all the transactions in the batch. If you're taking a lot of Regulated Debit, that's a big hit so make sure to avoid that. The best way is to set your system to auto-batch but if you're not able or unwilling to set up that convenient process you need to set a reminder to look for a batch receipt or to check the totals in your terminal/system in the morning.
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Answers (11-12)
See answers below for additional Detail...In most cases this can be avoided if you enter the billing zip code on a key entered transaction. There are some other issues which can cause the transaction to downgrade to EIRF (see below) but in most cases its the zip code on a key entered transaction. Interchange will change from EIRF to key entered and reduce your interchange cost by 1/2% OR 50 Basis points.
EIRF cost - 2.30% and $0.10
Key Entered Cost - 1.80% and $0.10
Any time you leave a batch open over 48 hours, you get EIRF'ed. Interchange goes up to 2.3% + $0.10 for all the transactions in the batch. If you're taking a lot of Regulated Debit, that's a big hit so make sure to avoid that. The best way is to set your system to auto-batch but if you're not able or unwilling to set up that convenient process you need to set a reminder to look for a batch receipt or to check the totals in your terminal/system in the morning.