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![*]()
Applying for a Merchant Account
![*]() Applying for a merchant
account is not difficult! It is just one page application
form which has to be filled out. A new account is usually
opened on the same day that a completed application is
submitted.
But when selecting merchant account provider which is
best suited to provide a merchant account for your business,
you must be sure to ask following questions.
Q: What are the charge or fees for your products and services?
Fees include transaction fees, discount rates and set-up
or application fees. Fees range from merchant account
provider to provider and varies based on credit history,
type of business, transaction volume.
Q: Do you have a minimum transaction number per month?
Most merchant account providers require a minimum number
of transactions per month.
Q: What is the time delay between a credit card transactions
and the time when the money is deposited into your bank
account?
The time delay is usually one to three days.
Q: What storefront solutions, payment gateways, and E-commerce
back-ends are compatible with my merchant account?
When conducting real-time processing, your transactions
will not execute properly if each of your E-commerce components
is not compatible.
Q: What security features do you have?
Your merchant account provider should have ways to reduce
the risk of fraud during the transaction process. Namely,
they should have software like SSL that will encrypt sensitive
customer information.
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