Asking the Right Questions Before Applying For A Merchant Account

Jul 1, 2016 by

Asking the Right Questions Before Applying For A Merchant Account

Making a decision to enroll in merchant credit card processing isn’t the most exciting decision a new business owner makes, but it’s one that will affect the life of that business. It’s not a decision to be taken lightly. That’s why you should learn to ask the right questions while you’re comparison shopping for a great deal. Asking good questions will cue you into the terms, conditions, hidden fees and more pitfalls that add up to a bad investment.

Ask About Fees

There are some fees that are ok to pay for, such as administration fees, and others (like setup fees) that you should request to be waived. A good rule is to keep in mind that a fee is probably junk when you can’t tell what it pays for. There are also fees for the credit card processing itself, which vary depending on the type of card you use. Be sure to inquire about these fees, known as “interchange fees”, so you can get a clear picture of what you’ll owe to use the service.

Contract Terms

Creating an account to allow a business the ability to accept credit cards online isn’t a cheap or simple task. Very often, merchant accounts will require the businesses they work with to keep a contract duration that can last one to three years in length for a standard contract. This helps recoup some of the costs of setup, but that’s why you need to review your contract for hidden fees. You don’t want to be stuck paying volume discount fees if you can’t meet the sales volume for three years straight.


Charge.com Payment Solutions, Inc. has been rated the #1 merchant account provider for 6 years in a row, and offers low cost fees and fast setup.

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