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Michael with SwipeSum discusses early termination fees, also known as early cancellation or deconversion fees when working with a credit card processing provider. There are three types: flat rate, prorated, and liquid damages. Flat rate fees are common, usually around $300. Prorated fees are cheaper the closer you are to the end of your contract. Liquid damages try to estimate the company's lost profit if you left early. When signing up, be aware that salespeople may hide margins in fees to earn commissions.