Tips About Merchant Account Providers

Does the thought of sifting through merchant account providers to find the right fit for your business send cold shivers up and down your spine? Well, you'll be happy to know just how easy and painless the whole process has become.

Gone are the days when looking for merchant account providers meant filling out mountains of paperwork and trying to convince the person behind that cold hard stare that small businesses needed merchant accounts, too.

We Are Pioneers in the Merchant Account Arena

We were one of the first merchant account providers to hit the scene and we've grown right along with the industry. There are many merchant account providers on the Internet today. Here are some simple guidelines and term definitions to help you narrow down your search for the right provider.

Tip #1 Don't pay an application fee. Application fees were an outdated means of making money, even if the applicant didn't end up qualifying.

Tip #2 Don't pay a setup fee, either. Merchant account providers make money by charging for the use of our service. That shouldn't include charging you for something you haven't even used.

Tip #3 Do make sure the merchant account provider has a secure online application page. Hint: if the webpage is secure the URL in the address bar will start with https://.

Tip #4 Set up a formula that has you selling a certain number of items per month, then use the merchant account providers fees to calculate what your total monthly charges would be. Compare at least 3 merchant account providers to get an idea of which will offer the better rates over time.

Tip # 5 Look for a customer focused provider, one who places your best interests first. For example, why pay for an added service or part of a bundle that doesn't suit your business?

Tip #6 Good merchant account providers offer settlement times* of about 2-3 days.

Tip #7 Look at the whole picture. A slightly higher discount rate* may be worth it if you are getting a premium list of services at no extra charge or a reputable processor.

*Terms Merchant Account Providers Use:

Settlement Time

The length of time between a credit card sale your business has made and the time you actually receive the money in your account.

Transaction Fee
This is a small flat-rate fee that is charged for each credit card transaction you process.

Discount Rate
Basically, this is the percentage of each transaction that merchant account providers collect. Since this can range anywhere from 2% to over 10%, it pays to shop around.

We are proud of our rates and fee structure, which is often much less than that of our competitors.

There are a lot of merchant account providers out there. We have the most to offer your business. Call us at 888-760-1700.

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