Merchant Account Operation

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Merchant Account Residuals

There's plenty of information available regarding the "hows" of merchant accounts and credit card processing, but hardly anything covers the "why." Why is the industry so competitive? Why is it so hard to tell exactly what you're paying for? Why are pricing models for credit card processing so confusing? These are all important questions that can help shed light on why things are as they are in the payment industry. Merchant Account Residuals...

Merchant Account Holds

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...

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...

New Merchant Account Business Guide

The process of getting a new merchant account can be pretty intimidating. There's a lot of merchant account information out there and most people don't have time to wade through all of it before getting a new account. If you're that person, this tutorial is for you. If you're pressed for time, here's the vital information that you need to know before, during and after you get a new merchant account. New Merchant Account Business Guide...

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...

Convenience Fees: What are They, and Can You Charge Them

The subject of convenience fees can get pretty confusing, but for the right businesses, they can be a money-saver. Convenience fees are a confusing topic, especially since each card brand has a different take on what they are and when they can be applied. This article examines the topic of convenience fees as they apply to the four major card brands. Convenience Fee...

Five Ways to Save Money on Credit Card Processing

Credit card processing fees account for a substantial portion of monthly expenses for many businesses. Keeping processing expenses low is a very worth-while priority that requires consistent attention and diligence. This article covers five specific things that you can do to lower your monthly processing fees and keep them low. Complete article...

Charging a Minimum on Credit Card Purchases

One of the most contested issues in credit card processing is whether a merchant should have the ability to impose a minimum purchase amount on credit card transactions. At one point or another we've all walked into a store to make a quick purchase and after seeing a sign that read "minimum credit card purchase $10," realized we didn't have any cash. Complete article...

Merchant Account ACH Delays and Their Effect

An ACH delay is a temporary hold on an electronic deposit from the acquiring bank to your direct deposit account (DDA). An ACH delay is imposed on new merchant accounts as a way of lower the risk that is associated with the new account. Complete article...

5 Reasons Why Businesses Overpay for Credit Card Processing

Credit card processing and merchant account are complex things and it's tough to get a handle on everything. However, taking a few minutes to learn a few quick pointers can help ensure that you don't overpay for credit card processing services for your business. Complete article...

Merchant Account Mistakes - How to Keep your Account in Good Standing

Stories abound of credit card processors closing merchant accounts and freezing funds. Most of these stories portray the processor as the evil villain out to steal from the small business owner. While this interpretation makes for an interesting plot, it’s far from accurate. Complete article...

Charging Customers a Fee to Pay with a Credit Card

As credit card processing gets more expensive, a burning questions on the mind of many business owners is, "can I pass credit card processing fees on to my customers, and if so, how?" In short, the answer is yes; you can charge customers a fee for paying with a credit card, but the issue is far more complex than that. Complete article...

How To Accept Credit Card Without A Merchant Account

Although it is not possible to accept credit cards without a merchant account, it is possible to utilize the processing accounts and/or services of a third-party to accept charges. Complete article...

Is my merchant account affected if a customer that I charge does not pay their credit card bill?

No, any legitimate charge that you place on a customer's credit card will be honored by the issuing bank of that card regardless of whether the customer has paid their credit card bill. Complete article...

Can a merchant invoice the card holder for a portion of or all processing fees?

This is a great question because the answer is a loop-hole that can save your business valuable revenue. While you can't directly invoice a customer for processing fees, you can effectively pass the cost of processing to them by integrating the processing fees into the price of the product or service. Complete article...

As a merchant, can I require a minimum transaction amount on credit and debit card transactions?

As the cost of processing credit cards increases it's not uncommon to walk into a business and see a sign that reads something similar to, "$10 Minimum on Credit Card Purchases". Complete article...

Pin Debit vs. Signature Debit, Which to Use When

True debit cards can only be accepted when a merchant is able to accept a pin number from customers using a pin pad. However, most debit cards today are actually check cards that are mistakenly referred to as "debit cards". The difference between a debit card and a check card is that a check card has a Visa or MasterCard logo in the lower right-hand corner, where a true debit card does not. Complete article...

Rolling Reserve - Merchant Account Reserve

A rolling reserve is applied to an otherwise unacceptable merchant account by a merchant service provider to lessen the risk associated with the account, making it possible for the provider to underwrite the account. Complete article...