Merchant Account Fees
Determining Merchant Account Fees
What are merchant account fees and costs?
A number of factors can have an effect on your merchant account fees and costs. For example, the rates are dependent on the Standard Industrial Classification (SIC) and vary for different types of businesses. If a person uses VISA or MasterCard to pay for their purchase there is an interchange fee paid to the banks who issue the cards. Whether a card number is keyed into a swiped terminal or point-of-sale terminal can affect the discount rate as well . . . and the list goes on.
We do not have any hidden fees. Your monthly processing statement will be easy to read and understand. It includes detailed information such as (1) how much is processed a month; (2) what types of transactions are most frequently processed; and (3) what is paid to process those transactions. If you have questions about your statement charges, our live Customer Service department is available to answer your questions.
Fees and costs for a merchant vary depending on which type of merchant category you fall into. There are high risk merchants, low risk merchants, offshore merchants, U.S. only merchants, and many more. Your volume of business will also affect how we can offer you the lowest price. Drop us an email or give us a call today for an honest evaluation of transaction fees and processing costs.
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?