credit card processing services

Make Sure you're Aware of All Merchant Account Fees!

Merchant account fees can turn up unexpectedly, but the concept of "hidden fees" is often misconstrued. Make no mistake -- merchant accounts are a great asset to any modern business -- big or small -- translating to increased efficiency and revenue for you. However, one must understand that these accounts are equipped to handle the countless transactions that occur over the course of a day, and the fees involved can be a bit tricky to fully quantify.

Regardless, it is very important that you understand what fees your business will be charged up-front, per transaction and any other fees that are associated with the provider.

Transaction fees, or processing credit card fees, are among the most common. These will vary depending on how you accept the credit card payment: swiping a physical card, manually entering a card, and/or address verification services. If you swipe a customer's actual card, you will most likely be charged the discount rate, the lowest transaction fee that the provider charges. On the other hand, if you manually enter the credit card information, the provider will likely charge you a mid-qualified rate or non-qualified rate (may incur when you do not use address verification services that cost you extra to begin with).

Additional Fees

There is also a batch fee, which some providers charge to cover the cost of closing out the credit card transactions over their network. It is likely that your provider will charge you a monthly fee to cover their overhead costs and staff. Beware of possible cancellation fees charged by your provider if you sign a contract and should choose to cancel the service. Most providers will charge a fee if you have to use your account to process a refund for a client back on their credit card -- a chargeback fee.

Ultimately, as a business owner, you shouldn't fear merchant account fees. Merchant accounts pay for themselves many times over by offering your clients the ease and convenience of making credit card payments. For the sake of increasing efficiency, cutting costs, and gaining exposure to increased profits, merchant account fees are a minor price to pay.

Sign up today by calling 1.800.362.1481 or fill out the simple form to the right to begin accepting credit cards!