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 dont 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...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
