Kevin Collinson

When you are looking for merchant accounts, no matter what type of account you are looking for, there are some very important aspects to be clear about before you sign up with anyone.

Generally, the people who do NOT take the time to understand these things end up with a nasty surprise when they get their statement at the end of the month, or when they cannot actually process transactions.

A lot of people are just concerned with finding out what the rates are. This can often be very misleading. You really need to think in terms of charges or costs, because there are several other charges that will be added to an account beyond the rates.

Also the rate that is charged can vary greatly, from when and where the transaction is taken to what information is recorded at the time.

It means that ultimately to really understand your merchant account, you need to have a consultation with a merchant account provider, so that they can really explain all the different costs involved.

The difficulty is that many companies will not be prepared to do this and employ what could be described as rather strong sales tactics to get people to join on one of their merchant accounts. This should serve as a warning sign and the companies should be given a wide berth.

The other key aspect that everyone should be aware of is the need to have low costs backed up by a very high quality customer service team. The teams should generally specialize in both account support and technical support. This means they should have separate teams for both different areas. If this doesn't happen it is unlikely that they will be able to offer the highest level of service.

If the systems are not working then you cannot accept payments. If you can't get through for authorization or other problems then you can't accepts payments. Either way it is significantly going to affect profits.

Kevin Collinson

Kevin Collinson

Kevin Collinson: Kevin Collinson

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