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Best Credit Card Processor

We receive questions about where to get the best merchant account on a regular basis. Until now we haven't been able offer an answer because we refrain from endorsing individual providers. To help businesses to find the best merchant account, we're recommending an affiliated web site called CardFellow. CardFellow allows you to get quotes from multiple merchant providers under the guidance of a neutral third party. CardFellow ->>

Updated: June 26, 2009

How to Get the Best Merchant Account for Your Business

Business owners want the best merchant account, but there's no provider that can offer the perfect account to every business. Providers may claim 100% satisfaction, but as the saying goes, "You can't please all the people all the time" and the same is true with merchant accounts. Best Merchant Account Services ->>

June 19, 2009

Merchant Account Complaints

The credit card processing industry doesn't exactly have a stellar reputation and merchant account complaints are far more common than they should be. In this article I'll talk about how you can avoid doing business with the bad eggs in the industry, why it's so tough to be heard when you have a merchant account complaint and what you can do to get the word out about a poor provider that you've encounter. Merchant Account Complaints ->>

June 18, 2009

Flat Rate Merchant Account

A flat rate merchant account would make the lives of business owners and accountants much easier, but they eventually come to realize that there's nothing flat about merchant account fees. Fortunately, there is something close. While it still won't boil processing charges down to a single rate, interchange plus pricing does apply a flat mark-up to all discount fees. Flat Rate Merchant Account ->>

June 15, 2009

Merchant Account Leads

The payment card industry is fiercely competitive and the calls, letters and visits from salespeople can be relentless. The attention can be annoying and even aggravating at times, but as I'll explain in a moment, there is a money-saving silver lining to the cloud of sales pressure. Merchant Account Leads ->>

Visitor Question June 5, 2009

Credit Card Convenience Fee

I had heard that if you do not talk to a live person a convenience fee should not apply. Is this correct? Convenience Fees ->>

June 1, 2009

Interchange Pass Through: What it is & why you need to know

The demand for interchange pass through pricing has been fueled by the rapid spread of information online that has led to increased merchant awareness. Interchange is a complex topic, but simply understanding the basics of how it affects the credit card processing fees that merchants pay is vital knowledge for any business owner or manager. Interchange Pass Through ->>

Updated: May 29, 2009

Multiple Merchant Accounts May Help Reduce Processing Fees

Getting multiple merchant accounts may seem counter-productive when you're trying to save money on merchant account fees, but for many businesses another account would actually lower credit card processing charges. Multiple Merchant Accounts ->>

May 26, 2009

Merchant Account Consultant

There are experts in every field willing to sell their skills to anyone who could benefit from them, and the payments industry is no exception. The question is whether this new flood of payment consultants are simply salespeople giving themselves a new title, or if they're legitimate professionals that will help to combat the abuses toward merchants born out of the lack of unbiased information and support. Merchant Account Consultant ->>

May 19, 2009

Consumer Discount and Fee Transparency Amendment

The Consumer Discount and Fee Transparency amendment to H.R. 627: Card Holders' Bill of Rights offered by Sens. Richard Durbin (D-IL) and Kit Bond (R-MO) has been met with fierce lobbying pressure by the payment and industry and merchant groups alike Consumer Discount and Fee Transparency Amendment ->>

May 14, 2009

4 Tips to low merchant account fees

This article covers four tips to help you lower your merchant account processing fees. Even if a single one of these tips applies to your situation, you may be able to cut your processing expenses substantially. Low Merchant Account ->>

May 13, 2009

Start Accepting Credit Cards

There are many incentives to start accepting credit cards as a form of payment for the products and services that your business offers. In this article I'll talk about the importance of accepting credit cards, what to expect as you compare merchant accounts and how to keep your merchant account in good standing once you begin processing. Start Accepting Credit Cards ->>

Visitor Comment May 12, 2009

Cost & Considerations to Cancel a Merchant Account

Cancelling a merchant account is as simple as contacting your merchant service provider and requesting that the account be closed. Although the process of closing an account is simple, it is sometimes accompanied by a surprise in the form of a potentially large early termination fee. Cancel Merchant Account ->>

May 12, 2009

Merchant Account Hold: What it is, why it's done & how to avoid it

An extremely important but seldom talked about topic regarding credit card processing is that of merchant account holds. One of the most financially devastating things that can happen to a business is for a processing bank to freeze its merchant account. If this happens to your merchant account, you won't be able to access the account and your funds from open authorizations will be held without deposit for an undisclosed period of time. Merchant Account Hold ->>

May 5, 2009

Merchant Account Effective Rate

The trap that many people fall into is that they get intimidated by the volume and apparent complexity of the different charges associated with merchant processing. Instead of looking at the big picture, they fixate on a single aspect of an account such as the discount rate or the early termination fee. This is understandable but it makes recognizing the total processing costs associated with an account very difficult. Effective Rate ->>

April 30, 2009

Basis Points and Merchant Accounts

The terms "basis point" in reference to credit card processing and merchant accounts is used to refer to the percentage of a sale that a business pays their service provider to processing a credit card transactions. Basis points sound a lot more complicated than they really are. Simply put, the basis points are 1/100th of 1 percent or 0.01% and they're used specifically when referring to the discount rate that a merchant pays to process credit cards. Merchant Account Basis Point ->>

April 22, 2009

The Mainstreaming of Interchange Pricing

Until recently interchange pricing has only been available to merchants with enough processing volume to support the profits that merchant service providers have become accustomed to reaping from the conventional three-tier pricing structures that have dominated the merchant account landscape. Interchange Pricing ->>

April 9, 2009

Credit Card Processing Calculator

Over the past several years many credit card processing calculators that estimate a business's monthly processing costs in an attempt to make the task of comparing merchant accounts transparent have popped up on various web sites. A credit card processing calculator sounds like a useful tool at first, but the reality of creating one that's accurate is another story. Credit Card Processing Calculator ->>

Update: April 9, 2009

Personal Credit & Merchant Accounts

Visitor submitted question:
If a merchant account gets closed due to excessive charge backs, or any other reason, can the merchant account ding your credit score, or is your credit score left intact?Personal Credit & Merchant Accounts ->>

April 2, 2009

The Lowest Merchant Account Rate isn't Always Cheapest

Diligent business people will do their homework when shopping for a merchant account. They'll get multiple quotes and negotiate the lowest rates to get what seems to be the least expensive merchant services. Here's the kicker, a merchant account with a low rates may not be less expensive than an account with a higher rate. Lowest Merchant Account Rates ->>

March 26, 2009

When to Switch Merchant Account Providers and How

When an account is cancelled because a business no longer needs to accept credit cards, it usually means that the business is being dissolved and there's no reason to have an account at all. However, cancelling a merchant account to switch to another provider that promises lower rates may be more trouble than it's worth – literally. Switch Merchant Account Provider ->>

March 25, 2009

Merchant Account Rates: Interchange-Plus VS. Tiered Pricing

Deciphering exactly how merchant account fees are charged is a necessary but confusing task. Understanding the options available and which one is best for your business isn't always easy. This guide will explain merchant account rate structures with minimal industry jargon to provide you with a solid understanding of how fees are assessed. Merchant Account Rates ->>

March 11, 2009

Paying Credit Card Processing Fees on Sale Tax

Improperly deducting credit card processing fees paid on sales tax at year-end can be a costly mistake. Sales tax can have a significant impact on merchant account fees that many merchants who do their own business taxes fail to consider. Sales Tax & Processing Fees ->>

March 4, 2009

Merchant Accounts for Non-Profit Business

Not for profit businesses are often able to receive discounted pricing for many business services because of their legal structure. However, most merchant service providers don’t give non-profit merchant accounts special consideration. The news isn’t all bad, though. Non-Profit Merchant Account ->>

March 2, 2009

Credit Card Processing Fees, Refunds and Customer Returns

Credit card processing fees are not refunded when a customer returns an item that they've purchased. Not surprisingly, this is a point of contention that many business owners have with merchant accounts and credit card processors. Processing Fees & Refunds ->>

February 19, 2009

Credit Card Processing fees You May be Paying without Even Realizing It

Paying close attention to your credit card processing expenses is a must, bust sometimes even the most conscientious merchants miss some not-so-obvious costs. This article covers three common processing expenses that you may be paying without even realizing it. Unknown Processing Expenses ->>