10 Questions to Ask When Choosing a Merchant Account Provider

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By MerchantGuide

When getting ready to set up a merchant account, sometimes it's tough to know what questions you need to ask a merchant account provider.

After all, sometimes you don't know what you don't know.

And let's face facts.

Are you really going to read through the fine print buried in “terms of service” agreements (which don’t really tell you anything anyway)?

So, to help you get the best merchant account, I've put together a list of 10 critical questions you simply need to ask any merchant services person BEFORE you sign on the dotted line.

10 Critical Merchant Account Questions

  1. Is there an application fee?
  2. Are there any reprogramming fees or set up fees?
  3. Do you offer any free equipment programs?
  4. Will I be locked into any credit card terminal leases?
  5. How do the quoted rates apply to my account?
  6. Are the quoted rates guaranteed? And if so, for how long?
  7. Are there any interchange fee surcharges, and if so how much are they?
  8. Will I be locked into a contract?
  9. If so, for how long?
  10. Are there any early termination fees?

Now that you have a good idea of what to ask you can make an “apples to apples” comparison to find the best provider.

After all it's your money.

Choosing a Merchant Account Provider

Quickly match up all the important features and benefits of each provider, and then write down their responses on paper.

That way, you can see which one comes out on top.

You can get started today by requesting free merchant account quotes from qualified merchant account providers.

After all, why should you do all the work of finding the best provider?

This way you can compare their offers allowing you to get the best account for your business needs.

One final point.

If your business is considered "high risk" you'll need to speak with a high risk merchant services specialist in order to get approved. Not all providers are the same, and most companies do not work with "high risk" businesses.

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    Other Merchant Account Tips...

    There's more to accepting credit cards -- whether you have multiple locations or you own a "mom and pop" business.

    In fact, believe it or not asking "what's your rate?" over the phone is the LAST thing you should be thinking about, because there are multiple rates, fees and other charges depending on your type of business and how you want to accept credit cards.

    Not to mention that quoted rates over the phone are often misleading, or only apply to your business 20% of the time.

    The key?

    To get the best merchant account you need to talk with a solutions provider. You can learn more about merchant processing services by checking out some articles below:

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