You may ask: Why the pressing need to look at the statement?  You may rationalize that such statements are difficult to understand and that the numbers just don't add up anyway.  Aside from ensuring that the rates quoted are the rates actually being charged, your processor often indicates important messages on the merchant account statement.  Indeed, the credit card processing statement may enlighten you about future charges that you need to know.    

Consider the ubiquitous PCI compliance fee.  Merchant account providers are charging this fee to defray their cost to ensure their backend networks are secure and that their merchants are properly managing, storing, and transmitting credit card data.  Most processors are announcing this fee on the merchant account statement.  Here is a sample notice:

"PLEASE NOTE THAT THE ANNUAL PCI COMPLIANCE FEE OF $X AMOUNT WILL APPEAR ON YOUR [ANY GIVEN MONTH] 2011 STATEMENT. FOR MORE INFORMATION ON PCI COMPLIANCE AND WHY ITS IMPORTANT, PLEASE VISIT [ONLINE SITE]. THESE REGULATIONS ARE BEING IMPLEMENTED UNIVERSALLY AROUND THE INDUSTRY AND THE ANNUAL FEE IS NECESSARY TO OFFSET THE SIGNIFICANT EXPENSES ASSOCIATED WITH PAYMENT CARD INDUSTRY DATA SECURITY STANDARDS (PCI) COMPLIANCE.

By knowing that a fee will be charged at a certain time, you can ensure that you'll have ample funds in your bank account to cover it.  Many small business owners only keep a relatively small amount of money in their account, and an unexpected fee may not be able to be collected.  Here, you'll receive an NSF fee from both your merchant account and bank -- regrettable charges.

Also, if there are any announced changes on the merchant account statement that affect your bottom line, you may wish to close your merchant account.  Of course, consider the particular change and determine whether you'll do better with another vendor.  (For instance, the vast majority of processors will charge a PCI compliance fee and switching to another company may not prove to be financially beneficial.)  Of course, if you decide to close the account, ensure that there is no cancellation or termination fee.

By reading the statement, you'll also be aware of any responsibilities you'll have to fulfill.  For example, as part of your PCI compliance duties, you will have to fill out a PCI questionnaire -- either offline or online.  Processors may charge an additional penalty fee if you do not complete a mandatory requirement.  You can't claim you weren't aware of any requirement if it is outlined on the statement.

Some processors even have "opting out" programs.  In other words, if you don't notify the processor that you aren't interested in a particular service, you may still be charged.  Unfair or not, you have to be up on your provider's policies, procedures, and rate changes -- all which may be accomplished by simply studying your merchant account statement, an absolute must-read.