Finding
the right merchant account for you and your business requires measuring
and comparing a few criteria. Here some things you may consider
when making the choice:
What is the cost? What type of fees
will be charged?
How long does it take to receive
the money in my account?
When are fees deducted? When the
transaction occurs or at the end of the month?
Are my rates and fees fixed? Will
they increase?
Is there a maximum or minimum transaction
amount per month?
Can this company provide references,
customer reviews or a rating from the Better Business Bureau?
Common Types of Fees
Application or Setup fee
Discount rate - these can vary from 2.35%
to 1.59%
Transaction fee - these can vary from $0.20-$0.50
per transaction
Statement fee
Monthly Minimum fee
Programming fee
Chargeback fee
Annual fee
Debit fee
Foreign Card surcharges
For a listing of recommended merchant accounts,
check
out this list provided by 100 Best Merchant Accounts.
