Discount Merchant Accounts
Does A Discount Merchant Account Exist?
There truly isn't a Discount Merchant Account but some companies offer that as a marketing pitch. The main course of action is to identify the company and check to see if there are any hidden fees or costs involved. In such a highly competitive market the merchant must identify their business plan and associate that plan with the processor.
Of course, if you are looking for high risk or offshore merchant accounts there are different guidelines and fees that are accessed in making that decision. You can always refer to our merchant services introduction for the most up to date questions and concerns you would have in chosen a merchant account provider. See what the monthly fees are and set up fees as well the longevity of the company. Take time in filling out our online form and we can direct you in the right direction.
Typical processing fees include per transaction fee, batch closing fee, monthly statement fee, and chargeback fee. Additional fees that may apply are application fee, termination fee, account maintenance fee, monthly minimum fee, and gateway access fee.
Discount Merchant Accounts, Are there really discounts?
Most business owners generally try to find a merchant payment provider that offers the lowest discount rate. This fee is usually calculated as a percentage to hundreds (basis point) on the gross dollar amount of each transaction and is deducted from your deposit of credit card funds. In some instances, it can be more advantageous to have a higher rate rather than a lower one because the overall impact on an average ticket depends on the way a merchant account is set up.
Merchant Account Questions
Below are some of the most important questions and answers on how to prepare
yourself for the world of merchant accounts and credit card processing.
What are some important questions to ask before signing up for a merchant account?
What is an explanation of a merchant account?
How much do I have to pay for a merchant account cost?
Why should I consider Fasttransact for my merchant account?
How many merchant accounts can someone have?
Is having a merchant account the best way to accept online transactions or should I use a PC?
How long does the merchant account approval process take?
Do you accept non-U.S. merchants?
Do you have any hidden fees for merchant accounts?
How fast can you set up my merchant account to accept credit cards?
Do you decline any merchant account applications or online processing applications?
Can I process for more than one business with my merchant account?
Do I have to be a U.S. citizen to open a merchant account?
What if I want to open a Canadian merchant account?
What are your fees and costs for merchant account processing?
What are the underwriting requirements to open a merchant account?
What kinds of typical startup costs can I expect in obtaining a merchant account?
I already have a retail merchant account, can I use this for internet processing?
Are there merchant application fees involved?
How do I apply for a merchant account?
How long will it take for my merchant application to be processed?
What if my merchant application is not approved?
Can you describe the merchant application process?
Does Fasttransact require a contract or is it month to month?
Will you charge me for a second merchant account?