[MCA]

Also to be 100% transparent and to calculate a true cost of the money, we need to add in the Gateway fees..
The February Gateway Statement.
Monthly Fee $5.00.
244 Transaction @ $0.05 per transaction = $12.20.
Total Fee for gateway = $17.70.

Now lets recalculate the effective rate.
Sales Total = 35532.66
All fees ($17.70 gateway + $541.29 processing) = $558.99
Effective Rate = 1.573%

Is that right?

Again, no way that is right. You are missing some other fees. True interchange cost for Card not Present transactions is 1.80% + $.10 and that is for a regular card, rates are even higher for reward and corporate cards. The above is the actual cost your processor would receive from Visa. Assuming they add 5bps and $.03 per tran then your effective rate would be somewhere around 1.9 - 2.10%. If you want to send me your statement, I will show you what your true cost is. I am not even in the CC processing industry anymore but spent 13 years in it. I will not ask for your business, just point out what your true cost is. I would also look at your bank statements and see if there is an additional debit every month from your processor