IEEE Credit Card Processing payment schedules and transaction fees are used for the Merchant Lending Program and the Credit Card Machine Rental service. Payments and fees may vary depending on the type of bank account.

Payment schedules and transaction fees

Type of Bank Account Payments and Fees
Credit card fees

IEEE services charge standard rates for each credit card transaction (subject to change):

  • American Express, MasterCard, Visa, and Discover: 3%
Fees for IEEE Concentration Bank Accounts (US)
  • Payments are transferred to your concentration bank account daily.
  • Credit card transactions and fees display in your statement within 48 hours of processing the transaction.
  • No administration fees.
  • Credit card transaction fees are returned with refunds.
Fees for other bank accounts
  • Payments are transferred to your bank account every 2 weeks by check or wire transfer.
  • Credit card transactions and fees display in your statement every two weeks.
  • An administration fee of US$50 is charged per month.
  • A fee of US$20 is charged for each wire transfer.
Lost, stolen, or damaged fees (machine rental only)
  • If any equipment is stolen or damaged beyond repair due to neglect, accident, or intentional misuse, you will be charged for all replacement costs incurred by IEEE.
  • Exact cost of repair or replacement will be based on original purchase fees.

Who do you talk to at IEEE?

If you have any questions, please contact: 

  • If you believe cardholder data has been compromised or stolen, notify IEEE Treasury immediately:
    +1 732 562 5322

IEEE MCE Services:
+1 800 810 4333 (US & Canada)
+1 732 465 7810 (Worldwide)

IEEE MCE General Inquiries:
+1 855 340 4333 (US & Canada)
+1 732 562 3878 (Worldwide)

IEEE Merchant Lending Program:
+1 732 562 5391 (Worldwide)