Applying For Merchant Services Account The Easy Way

Applying For Merchant Services Account The Easy Way



Applying for​ Merchant Services Account the​ Easy Way
Before applying for​ a​ merchant services account, it's important to​ research the​ various merchant account providers to​ avoid paying too much or​ signing with an​ unscrupulous company.
In applying for​ a​ merchant account service, consider prices, integrity and​ customer service.
• Merchant account rates and​ fees
Be sure you understand all of​ the​ rates and​ fees charged by a​ merchant account provider .​
The usual charges include monthly fees, discount rates, transaction fees, application fee, equipment and​ installation fee.
Monthly fees are usually around $25, though that may vary according on whether you meet your minimum monthly transactions .​
Discount rates are a​ percentage taken from a​ sale that the​ merchant pays to​ cover the​ transaction costs and​ the​ risk involved .​
The usual discount rate is​ 1.5% to​ 3.5%.
The transaction fee is​ a​ flat fee charged for​ each transaction, generally anywhere from 20 cents to​ $1.00 .​
The application fee, if​ there is​ one (some merchant account providers don’t charge them), is​ the​ fee to​ open the​ merchant account.
The equipment and​ installation fee covers the​ cost of​ software installation .​
It can be free, or​ it​ could cost as​ much as​ $1,200 or​ more, depending on whether the​ processing is​ batch or​ real-time .​
The cost for​ POS terminals depends on the​ model you purchase but can range from $500 to​ $1,500.
• Choose only reputable merchant account services
You should consider the​ reputation of​ the​ merchant account service.
What to​ look for​ when searching for​ a​ merchant account:
• Beware of​ merchant service providers who have misleading ads offering things like free merchant accounts or​ lowest prices guaranteed .​
Read the​ fine print on the​ website to​ find out what they really offer.
• It’s a​ bad sign when every call you make to​ the​ company is​ answered by a​ machine.
• Beware of​ merchant account services that make use of​ free domain or​ free web hosting services .​
If they can't afford a​ domain name, how are they in​ business?
• Be careful of​ providers who can't answer your questions.
• Avoid merchant account sites that don't post rates and​ fees on their web site.
• Use the​ Internet to​ find reviews of​ merchant account companies and​ take note of​ all unsatisfactory remarks
• Make absolutely sure that your chosen merchant account service provides reliable customer service.




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