Which Merchant Account is Right For Your Business?
There are so many things to consider when starting up a business; it seems a shame that finding the right merchant account would add to your stress.
The fact is that without such an account you simply can't accept credit and debit cards for payment.
That makes your decision more significant than it might seem on the surface.
There are several factors that make a particular account better suited to your needs, but you must be aware of the variables first.
Reputation Above all other considerations should be the providers' reputation.
A quick check online and with the Better Business Bureau will provide you with some information about a specific company.
Search for association memberships and testimonials on the website to further confirm a positive reputation.
Account Fees Every single merchant account provider will charge fees.
Check around to get a good idea of the range of normal fees, but remember to search for hidden fees as well.
One company might charge you to set up your account, but another may require you to rent equipment and pay constant maintenance fees.
Some work better than others depending upon the kind of business you run.
Customer Service Will you receive 24/7 support if something goes wrong with your connection, terminal, or account? How about a toll free number or technical support if you don't understand how to use a specific function on the terminal or online? Are the customer service people pleasant, efficient, and well trained? You are likely to be involved with your merchant account provider for a long time, so make sure you are happy with the customer service offered.
Fee Caps Every provider charges for processing your credit card sales.
These arrangements are usually based upon an expected number of charges per month.
If you exceed the cap of charges placed upon your account on a given month, what will happen? Make sure you know, in advance, what sorts of fees and charges you will incur if this happens to you.
Finding a good merchant accounts provider isn't all that difficult, but it does take a bit of investigation.
Do your homework so you don't get stuck with something you can't handle..
The fact is that without such an account you simply can't accept credit and debit cards for payment.
That makes your decision more significant than it might seem on the surface.
There are several factors that make a particular account better suited to your needs, but you must be aware of the variables first.
Reputation Above all other considerations should be the providers' reputation.
A quick check online and with the Better Business Bureau will provide you with some information about a specific company.
Search for association memberships and testimonials on the website to further confirm a positive reputation.
Account Fees Every single merchant account provider will charge fees.
Check around to get a good idea of the range of normal fees, but remember to search for hidden fees as well.
One company might charge you to set up your account, but another may require you to rent equipment and pay constant maintenance fees.
Some work better than others depending upon the kind of business you run.
Customer Service Will you receive 24/7 support if something goes wrong with your connection, terminal, or account? How about a toll free number or technical support if you don't understand how to use a specific function on the terminal or online? Are the customer service people pleasant, efficient, and well trained? You are likely to be involved with your merchant account provider for a long time, so make sure you are happy with the customer service offered.
Fee Caps Every provider charges for processing your credit card sales.
These arrangements are usually based upon an expected number of charges per month.
If you exceed the cap of charges placed upon your account on a given month, what will happen? Make sure you know, in advance, what sorts of fees and charges you will incur if this happens to you.
Finding a good merchant accounts provider isn't all that difficult, but it does take a bit of investigation.
Do your homework so you don't get stuck with something you can't handle..
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