Do Not Open a Merchant Account Until You Read This!!

If you are a business owner seeking to accept credit cards as a form of payment from your clients or if you currently accept credit cards, you must read this!

Many business owners find out too late that the fees that they were presented with for their merchant account are NOT what they end up being charged. Often they do not find out until they receive their first statement!

DO NOT fall into this trap.

You want to deal with a company who leads with their best foot forward the first time. When searching for a merchant account provider make sure not only are they disclosing their best deal, but they are indeed disclosing the material facts!! Every company will “guarantee” to beat their competitor’s rates, but why haggle when you should be given the best offer up front?

When you shop for your merchant account, see what information they give you without you having to ask about something. Typically all you will be quoted is a rate, transaction fee and monthly fee. What about the other fees? At that point, you should feel betrayed, as they did not keep your best interest at heart.

DO NOT sign up with another company if they do not disclose the fees below! You will be surprised how many DO NOT disclose these fees up front and how much they charge without you asking.

Make sure you find out the following fees:
Application/Set Up Fees
Qualified Rate
Mid Qualified Rate
Non Qualified Rate
Transaction Fee
Batch Header
Monthly Minimum
AVS
Interchange Pass Through Credit/Debit
WATS/Auth Fee
Annual Fee
Monthly Basic Service/Statement Fee
Contract Term

If someone tries to set up your account without mentioning these fees, check your paperwork or statement closely, you’ll be surprised how much you weren’t told!
Oliver Mupas
United Bank Card