Four Tips For Finding The Best Small Business Merchant Accounts

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It is important for any business to find the best small business credit card processing account. After all, your provider will handle sensitive data and part of your income, which can turn nightmarish if you select the wrong company. Luckily, considering a few simple tips will ensure you make the right choice.

Know the Costs for Everything

The costs are a huge factor in selecting small business merchant accounts. Most people know to look at the discount percentage rate the provider charges on every transaction. While this is an important number, you’ll miss some great deals if you look at this rate alone.

Look for monthly or yearly service fees, signup fees, administrative fees, fixed transaction fees, and fees for special operations like keying in credit card numbers instead of swiping. When considering the discount percentage rate, note whether the rate includes all card providers (VISA, MasterCard, Discover, etc.) or if each provider charges a different rate.

Perform Thorough Research

While finding a small business credit card processing account used to be a long process, the Internet has made the process simple today. It is important to take advantage of this ease by visiting the Web sites of different providers to research which one may best suit your business. You will discover the services, benefits, and fees on any provider’s Web site. If you don’t, move on to another website. You will also get a good feeling for the provider. Look for a professional Web site with well explained text free from misspellings and grammar errors. Pull up Google or Yahoo! and search the Internet for positive or negative reviews and feedback about the providers you consider.

After you’ve done your research, contact the provider and ask for references. Contact their references along with other business owners to find out which provider they use. With thorough research, you will know everything about a provider, from their customer service abilities and reliability to the security and technology they provide.

Selecting Your Equipment

There is much more to opening small business merchant accounts than just choosing a provider and signing up. You will need the credit card processing equipment to take advantage of the service. When choosing your equipment, consider whether you need a wireless terminal or if a less expensive wired terminal that plugs into your telephone line is best. Some providers even offer a free terminal of your choice when you open an account, so consider whether the savings is worth the fees charged by the provider. While you may incur a $100 per month terminal rental charge, it may end up being less expensive than going with a provider offering a free terminal, but with higher rates and fees.

You will also need ecommerce and security software for your business so you can offer credit card payments to your customers.

Customer Service Is Crucial

Make sure the provider you choose offers superior customer service. Call the customer service line for the providers you consider as a test. Only select providers with excellent customer service, even if the fees and rates are a little higher. You will appreciate making this decision should a problem arise.

You can greatly improve the profits of your business with small business merchant accounts Ć¢EUR” if you choose your provider carefully. Consider reputation, quality of service, cost, and security in making your decision. By choosing the right small business credit card processing service, you’ll enjoy the benefit of a high-quality merchant account without worry.



Source by Chris A. Harmen

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