Short answer
To get a merchant statement, explain what you will do with it, ask for the last three months and the contract, tell the merchant where to find it (the provider's online portal, an emailed PDF or the paper copy) and offer a secure way to send it. If they hesitate, start with a bank statement and an estimate of monthly card turnover.
Part of Selling and savings quotes. Start with the main guide: Merchant statement analysis in five minutes: a repeatable method
Key takeaways
- A merchant says yes when they understand what you will do with the statement and what they get back.
- Ask for three months of statements, the contract and any separate terminal invoice.
- Most statements are in an online portal, an emailed PDF or a paper copy, so tell the merchant where to look.
- Offer a secure way to send it and never ask for card numbers.
- If the merchant says no, a bank statement and a turnover estimate still give you a rough analysis.
The first obstacle in merchant services is rarely price. It is getting hold of the statement. Without one, you are guessing. With one, you can show a business owner something about their own costs that they have probably never seen. A good analysis depends on this one document, and many people starting out do not know how to ask for it, or where it lives.
This guide covers where statements are kept, what to request, how to phrase the request on the phone, by email and in person, and what to do when the answer is no. It is written for payment consultants and ISO agents, and it assumes you want a relationship, not just a document.
Why do merchants hesitate?
Understanding the reasons is the first step to getting past them.
- They do not know where it is. Many owners have never looked at one.
- They think it is private, and worry about what you will do with it.
- They expect a sales pitch and do not want one.
- They are busy, and finding a document is a task.
- They are loyal to their provider, or assume all providers are the same.
A request that deals with each of these gets a better answer than one that just says "send me your statement".
Where do statements live?
Tell the merchant exactly where to look. It removes the biggest practical barrier.
| Place | How to find it | Tip to give the merchant |
|---|---|---|
| Provider's online portal | Log in with the account details | Look under statements, documents or reports. A "forgot password" link often works |
| A monthly PDF sent to the account email | Search the inbox for "statement" or the provider's name | |
| Post | A paper statement | Check the office file or the person who handles the post |
| Accountant or bookkeeper | Many keep copies | Ask them to send the last three |
| Bank statement | Shows fees taken or net settlements | A fallback when the statement cannot be found |
If the merchant cannot find any of these, the provider's customer service can send a copy. Suggest they ask for the last three months.
What should you ask for?
Be specific. A narrow request is easier to say yes to, and a complete one saves a second request.
- The last three monthly statements. One month can mislead, particularly for a seasonal business.
- The contract or the page that shows the term and notice period. You need the end date and the exit cost.
- Any separate invoice for the terminal or gateway. It is part of the real cost. See double contracts.
- The monthly card turnover and number of transactions, if the statement does not show them.
You do not need card numbers, personal customer data or the merchant's login. Say so, because it makes the merchant more comfortable.
What should you say? Scripts that work
Keep it short, honest and about what the merchant gets.
On the phone
"I help businesses check what they pay for card payments. Most owners have never seen it broken down. If you can send me your last three statements, I will show you what you pay, what it is made of and whether it is fair. There is no obligation, and I will keep it confidential."
By email
"Hi [name], I work with businesses on their card payment costs. If you send me your last three card statements, I will send back a one-page breakdown of what you pay and where it goes. You do not need to share card numbers or customer details. If it looks fine, I will tell you that."
In person
"Have you ever had your card fees explained line by line? Most people have not. If you can find your last statement, I will walk you through it now, and if you want, I will take a copy to check properly."
The offer that tends to work
Offering something back in a day, such as a plain-English breakdown, gives the merchant a reason to act. Saying that you will tell them if their pricing is fine builds trust, and it is true to the better consultants' practice.
- Say what you doOne sentence about helping businesses understand their card costs.
- Say what they getA breakdown of what they pay, in plain English, and an honest view.
- Ask for specific thingsThree statements, the contract end date and any terminal invoice.
- Offer a safe routeA secure way to send it, and a promise to keep it confidential.
A pattern for any channel.
How do you handle the replies?
"I do not know where it is."
Offer to help them find it. Ask which provider they use, whether they log in online and who handles the post. Often a two-minute call locates it.
"Why do you need it?"
Explain in a sentence: you cannot tell whether a quote would save them money without seeing what they pay now. A quote without it is a guess.
"I am happy with my provider."
That is fine, and many are. Say that checking costs nothing, and that if the pricing is fair you will tell them. See handling "I am happy with my provider".
"I do not want to send documents."
Respect it. Offer to look at it with them on a call or in person, or ask for just the totals: monthly card turnover, number of transactions and the amount taken for card fees.
"Send me a quote first."
A quote without their figures is a generic one. Explain that you would rather give them a real number. If they insist, give a range with the assumptions clearly stated, and say that it will change once you see the statement.
What if the answer is no?
A merchant who will not share a statement can still be helped, in a smaller way.
- Use a bank statement. It shows the fees taken and the net settlements. It gives you a rough effective rate if you know the turnover.
- Use a quick estimate. Monthly volume and total fees give an approximate effective rate, and one industry source suggests such an estimate can be useful when a prospect will not share statements.
- Offer to review it together, on their screen, with nothing copied.
- Leave a one-page guide on how to read a statement, so they can check it themselves. See how to read a merchant statement.
- Ask for their contract end date and diary it. See contract length, auto-renewal and notice periods.
A rough guide to how firmly you can state a saving. Illustrative scale, not a measured figure.
The scale is not scientific, but the logic is: every extra document lets you make a firmer, more defensible claim, and the claim should match the evidence you have.
How do you handle the documents with care?
Treat the statement as confidential business information.
- Use the secure intake method your ISO, acquirer or organisation approves. Do not ask for statements to be posted publicly or sent through an unapproved channel.
- Do not ask for or store card numbers.
- Say how long you will keep the document and delete it when you no longer need it.
- Follow the data protection rules that apply where you work.
Saying this out loud is part of the request. It tells the merchant you have thought about it.
What should you do the moment you have it?
Move quickly. A merchant who sends a statement is waiting for an answer.
- Run the analysis using the five-minute method.
- Run the bill check, so you find any second invoice.
- Send back what you promised, within the time you said.
- Be honest about the result. If their pricing is fair, say so.
- Diary the contract end date, so you can come back at the right time.
The checkmyrates calculator lets you enter the figures in a few minutes and produces a clear comparison to send back.
Frequently asked questions
How do I ask a merchant for their statement?
Say what you do, what they get back, ask for the last three statements and the contract end date, and offer a secure way to send them. Make it clear that you do not need card numbers.
Where can a merchant find their statement?
Usually in the provider's online portal, as an emailed PDF or as a paper copy. Their accountant or the provider's customer service can also send it.
How many statements should I ask for?
Three, so you can see normal months and avoid being misled by a quiet or busy one.
What if the merchant refuses?
Ask for a bank statement showing the fees, an estimate of monthly card turnover or a screen-share review. Say that any result will be rougher without the statement.
Is it appropriate to ask for card numbers?
No. You do not need them and should say so. You only need the totals, rates and fees on the statement.
What should I do with the statement afterwards?
Analyse it, give the merchant what you promised, store it securely and delete it when it is no longer needed.
Sources and further reading
Figures in this guide are examples to show the method. Fees, rules and rates change, so check your own statement, contract and current rules before you decide. This is general information, not financial or legal advice.