What’s the Best Merchant Account for a Small Business?

If you want to get a merchant account service, you have several options at your disposal. It’s important to understand these options and what they mean, since not all merchant account services are created equal – some are better priced, some have more features, and some manage to provide both. In this article, we’re going to take a look at how a small business can find the best merchant account service.

The Importance of a proven record

Since opening a merchant account is a service, it’s important to go with a company that has a proven track record with positive testimonials. A company that is not even a few years old may be a fly-by-night organization that may not be there for you when you need them in the future.  A company that has been around for decades is probably not going anywhere.

Also consider asking business owners for recommendations. If a small business owner has been using a merchant account for an extended period of time, odds are that they have found a reliable service.

Look into the details

Preferably, a merchant account service provider should have a solid customer support service which offers a toll-free service number, 24/7 support and similar features. This can be indispensable in case any issue pops up–whether or not it’s during business hours–and you need to get your credit card processing system doing what you want it to do before you lose a sale.

You then may wish to look for reasonable rates. Make sure you get a clear rate quote that will apply specifically to your business before signing up.

Matters concerning your business

Due to the large variety in merchant account services, it’s important to keep your business needs in mind. Are you looking for online processing mostly, or are you interested in selling both online and offline? Do you employ mobile salespeople? Do you plan to expand in the near future? All of these questions will help to determine which service fits your criteria best.

You also want to be aware of your monthly processing volume and its expected growth. Some companies, like Charge.com can get you an account no matter how small your business is. And if your volume is extremely large, you may be able to negotiate a discount in pricing, either at the time you sign up or down the road once you’ve proven yourself to your merchant account provider. They won’t want to lose you!  And that’s a reason to make sure that there are no cancellation fees if you decide to take your business elsewhere.

For more information on how to choose the best merchant account service for your business, or to open a merchant account, please call (888) 924-2743 or go to Charge.com.