Choosing a Credit Card Merchant Account
Having a credit card merchant account can significantly boost your business’s sales. By allowing your customers to pay by credit – which has become one of the most popular payment methods, both online and off – you effectively open a new stream of revenue while giving your customers what they really want: convenience.
Before you start accepting credit, however, you have to choose your credit card merchant account carefully. You don’t want to be stuck with a system that isn’t reliable, secure or right for the needs of your business. To help you choose, here are some key questions you need to ask while comparing merchant providers.
Questions to Ask About Your Credit Card Merchant Account
-What type of system do you have for my business?
Ask the merchant processing company for information on the various credit card readers they offer. For example, if you run a coffee shop, you probably don’t want the same type of machine used at a gas station, right? Some merchant services companies only specialize in certain types of accounts, while others like BankCard USA provide an extensive range of solutions to meet the needs of every type of business. Before you sign up, make sure the company has the right option for you.
-What are the fees?
Once you become a credit card merchant, you will of course have to pay fees on the transactions that you process at your business. Typically, processors will ask you to pay a flat monthly fee for the account, as well as a small percentage of each individual transaction, sometimes determined by your total monthly sales volume. If you are not careful about these fees before you sign up, you could end up losing a much larger percentage of revenue than necessary. That’s why it’s so important to look carefully at all fees, and the fine print, and shop around to make sure you are getting the best pricing and the best value.
-What types of cards are accepted?
Do not assume that your credit card merchant account will enable you to accept every type of card. Sure, most legitimate processors will accept MasterCard, Visa and American Express. But what about Discover, Diner’s Club, or debit cards? If you have many customers who prefer to pay with these methods, then you must be sure to ask the merchant services company about their accepted cards before signing up.
-How quickly are payments deposited into your account?
Paying by credit is convenient for your customers, but if you’re not getting those funds deposited into your own bank account for several days or a week, then it could pose some serious problems for your day-to-day cash flow. Look for a provider that deposits your funds in the shortest amount of time possible. BankCard USA offers next-day deposits to help businesses improve cash flow and access their money fast.
85,000 Satisfied Credit Card Merchant Customers and Growing
Since 1993, BankCard USA has equipped more than 85,000 customers with reliable, secure credit card merchant account services. We offer a wide variety of solutions for every business, backed by honest, competitive pricing.
Our quick 5-minute online application makes it easy to get started, and we provide instant approvals, enabling approved merchants to start processing by the next business day. Call us today at 1-800-589-8200 to learn more about Credit Card Merchant Accounts.