bankcard mtot dep

You may come across strange acronyms and terminology while looking over your bank statement. A phrase like this is "MTOT DEP," or "Merchant Total Deposit." When a firm processes bankcards—where they take debit and credit card payments—this description is often used. In essence, MTOT DEP shows the entire amount of card sales proceeds that have been deposited into your company account, less any applicable fees. As a company owner, knowing this phrase is essential to maintaining your financial well-being. Link to Transaction Fees for Merchants The costs you pay when you take consumer credit card payments are known as merchant…