Why is there a BP FDMS CAT Charge on Your Bank Statement?
If you observed something like “BP FDMS CAT” being charged to your bank, you may wonder what it all means. This charge is linked to credit or debit card sales at BP (British Petroleum) outlets/filling stations.
It is not an error or a fraudulent charge; it is an actual fee charged in relation to credit card processing services offered by First Data Merchant Services (FDMS).
By gaining knowledge about this charge and why it is charged, it becomes easier to improve your financial control without worrying about any issues.
Why you may find the BP FDMS CAT Charge on your Bank statement
The bank statement’s BP FDMS CAT charge can be attributed to the FDMS conducting your card transaction at a BP gasoline outlet. If a customer swipes their card on the pump, it becomes the responsibility of FDMS to determine whether the transaction is safe and whether the transaction will be successful.
This includes the confirmation of the credit card used as a mode of payment, ensuring a clearance has been given by the card issuer, and effecting the transfer of the amount paid for a product. The charge accrued on these services, such as the one you might see from ’50 Beale Street San Francisco’ on your credit card statement, makes it convenient for customers to pay for fuel through a card.
Elements of the BP FDMS CAT Charge
The BP FDMS CAT charge is composed of several elements, each of which plays a crucial role in the transaction process:
Processing Fees
Processing fees rank among the main costs of the BP FDMS CAT charge. The fees above are the costs that FDMS incurs when processing your credit or debit card at the pump. These are the costs of allowing payment, communicating between the gas station and the card issuer, and clearing the transaction.
These processing fees are necessary because card payments at BP stations would not run as smoothly as they do presently if the fees were absent.
Interchange Fees
The second component of the BP FDMS CAT charge is the interchange fee. This fee is set by the customer’s bank or the credit card issuer for each sale to the merchant’s bank or acquirer.
This fee can be fixed or a percentage of the credit card type, the specific transaction, and other factors. Interchange fees are necessary to establish proper reimbursement to all the participating banks.
Equipment Rental Fees
FDMS also entails expenses on the facilities installed at the BP gas stations to enable the processing of card payments. The equipment rental charges in the BP FDMS CAT fees recover these expenditures.
FDMS has credit card terminals and other necessary facilities acquired from other companies that must help all BP stations provide contact and safe payments to customers.
Service Charges
Another factor in the BP FDMS CAT charge is the service charges needed for the services offered by the FDMS CAT. These include the continuous services FDMS offers, including the cost of customer support, security services, and system maintenance.
Such services help keep the payment processing system secure, dependable, and current so clients can have positive transaction interactions in BP gas stations.
What Do You See in Your Bank Statement When You See the BP FDMS CAT Charge?
The BP FDMS CAT charge can be reflected on your account in various formats based on the bank and card company procedures. Some common descriptions include BP FDMS CAT, GA BP FDMS CAT, BP FDMS CAT charge, Gas at BP, BP FD, BP FDMS CAT Warrenville, BP FDMS CAT, and AUSTELL, GA.
These different descriptions all refer to the same proper charge. If you previously swiped your card at any BP petrol station when the charge shows in your statement, it is most probably related to it.
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Concerns People Have About the BP FDMS CAT Charge
Sometimes, one may find it worrying when encountering a charge they do not recognize on the bill. Here are some common concerns and what you should know about them:
Is the BP FDMS CAT Charge a Scam?
The BP FDMS CAT charge is not a fake. It is entirely reasonable, as it is charged as a merchant fee incurred when you make purchases with your card at a BP petrol station.
If you recall the transaction but have questions about the fee, do not worry; it is a normal part of processing card transactions.
What If I Didn’t Use My Card at a BP Station?
Suppose, for instance, you have not used your card at a BP FDMS CAT station and then realize that the transaction has been made—it must be checked.
Search for the transaction by the date and place of the transaction to check if it could be a fuel purchase. However, you should call your bank to investigate further if it does not.
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FAQs
What is the BP FDMS CAT charge?
The BP FDMS CAT charge is a fee for their credit and debit card system through BP’s gas stations.
What is the purpose of the BP FDMS CAT fee?
This fee is charged when you use a card to pump gas at a BP station. Thus, the relatively small fee compensates for transaction processing expenses.
What is the cost of BP FDMS CAT services?
The fee is normally between 1% to 3% of the total gas you intend to purchase.
How can I challenge or appeal the BP FDMS CAT fee?
If you are certain the fee was charged by mistake, review your statements and contact the bank to complain.
Can I omit the BP FDMS CAT fee?
A way to avoid the fee is using cash and not a card at the time of your fill-up at any BP station.
Conclusion
The BP FDMS CAT charge is the common charge shown on a bank statement whenever a customer swipes a credit or debit card at a BP gasoline station. It is not something to worry about as it includes the basic expenses in processing card transactions through FDMS.
Knowing what the charge is made of and why it is on the statement can assist in efficient financial management. If you have any questions or issues concerning the charge, it is wise to contact the bank or the FDMS you are affiliated with.
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