A business that accepts charge cards as payment must do so through a merchant account service. There are certain fees associated with that service. However, you can’t let merchant fees stop you from offering payment options to your customers or you could be out of business!
Merchant account services are a business expense
Early in the cards-as-payment era, businesses tried offering two prices. If you paid with a credit card, they charged more than if you paid cash. They wanted to recoup the cost of merchant fees. But being penalized for paying by card did not sit well with the average consumer. The practice was soon eliminated. Individual businesses cannot legally process credit cards themselves so merchant account fees are now part of the cost of doing business and tax deductible just like any other business expense.
Compare merchant account services
It’s sensible to compare merchant account fees as long as you compare them service for service. You may find cheaper fees are not worth the poor quality of customer service or the limited number of services. If you have to pay every time you need tech help or get stuck in a contract that limits your volume then cheap service may turn costly.
With a typical merchant account provider, you could pay as much as $1,200.00 or more, just to set up a merchant account, and it could take up to two weeks for approval.
The list of start-up fees can include:
- Non-refundable application fees average between $50 and $250.
- Set-up fees may be between $50 and $150.
- If you want to accept checks by phone or internet, the average cost is $300.
- A shopping cart on your e-commerce site for easy check out is usually about $300.
- Include Discover and American Express and pay expect to pay an additional fee $100 or more.
- Programming fees may be up to $100.
The discount rate charged by merchant account services is based on several factors including whether your business is high risk, how much volume you do and average price of goods and services sold. That rate is typically between 1.9% and 2.9%.
Save more. Choose Charge.com Merchant Account Services
There are some important perks that set Charge.com apart from other merchant accounts. Instead of paying up to $1,200.00 in application and start up fees you could pay $0 instead. The whole list including application, set-up, checks, shopping cart and additional cards are all free from Charge.com when you sign up for a new merchant account.
Charge.com guarantees the best rates, so you will find their discount rate to be as low as .25% and the transaction fee as low as 15 cents. Low costs, but how about the customer service? Charge.com is superior in every area, including:
- Applications are approved immediately.
- High risk businesses and poor credit rating are not generally disqualifiers.
- Charge.com will train your staff.
- Customer service is available around the clock.
- There are no cancellation fees for most US customers.
- Most US customers do not have to agree to a minimum contract term.
Save more on your card payment processing and receive the best customer service from the most experienced provider. Call Charge.com at 1-888-924-2743 or visit them on the web at www.charge.com.