Merchant Account Setup
Hidden Fees and Merchant Accounts
How fast can you set up my merchant account?
Typically the industry standard is from 24-48 hrs depending on how the paperwork is obtained either through an online application or mailed application. I would give yourself a week time in advance so you can cross you T's and dot your I's. If you are started a new business then I would take time in discussing your needs and go over the rates and credit card terminals you will be using.
If you are switching over the process is much more immediate and you can expect a speedy turnaround time. Also, you must consider there are different types of merchant accounts as well. If you are obtaining a virtual payment type system there will be programming involved typically and this could prolong the process.
Always ask the customer service representative these questions if time is an issue. If you are a retail business and will be using a credit card terminal then the software download in the terminal as well as arrival could be an issue as well.
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?