WebProWorld - View Single Post - Is there a reasonable merchant account that is secure too?

StevenAllen · #6 (**permalink**) 07-29-2006, 04:48 PM

I thought this old post may be helpful to you and other new members:

Merchant Account Basics, Information on how to choose the best merchant account.

The processors play a revenue game of hide the ball. Sometimes the revenue for them is hidden in chargebacks, statement fees, monthly fees, float time (delay of funding), per transaction fee, batch fees, AVS fees etc.

Below is a list of fees that may apply to a merchant processing account:

1) AVS Fees.
2) Batch fees.
3) Non - qualified AKA up charges.(this can comprise 30% of a merchants monthly costs). Please be advised that mid-qualified (corporate and government cards) are NOT non-qualified.
4) Initiation fee.
5) Term of contract fee.
6) Chargeback fees .
7) Funding time.
8) Annual fee.
9) Amex or Discover convenience fee.
10) Set up fee.
11) Application fee.

Discount rates and cost per transaction are important, but do your homework and be sure to check ALL the fees OR you will not make your BEST decision. Of course, good service should also be part of any relationship. Nothing in life is a good value, if you do not receive good service as well.