Think You Need A Merchant Account?

Think You Need A Merchant Account? Read This First!

By Marie Parker

More Details at: http://www.osonet.com/netbiz

This article is primarily written for business owners who already see the benefits of obtaining Merchant status. Hopefully this
article will assist you in avoiding unnecessary costs and will prevent you from becoming an unwanted victim of a scam artist.

Does Every Business Need A Merchant Account?

Although most merchant account providers will tell you "yes." The answer is no. Not every business will necessarily profit
from obtaining a merchant account. The key way to determine if your business will profit from obtaining merchant status is
to look at your monthly business volume.

If you are producing less than $500 a month in sales, wait until your sales volume increases before you apply for Merchant
status. A Merchant account is meant to increase your profits. It can possibly even triple them.

However, if you are a new or very small business, the monthly lease/fees you may accrue may not be a smart business
move for a business just starting out. A "third party service" may be a wise choice for a new business until the business
profits increase. Eventually, a business can "upgrade" to a merchant account.

Should You Buy Or Lease Equipment?

This truly depends on your current financial state. If you can afford to purchase the equipment outright, you can save a
bundle, and only have to pay a small monthly fee for transactions and other fees that may apply to the nature of the
equipment you will be using. If you cannot afford to buy the equipment, your other alternative would be to lease.

If you are a bargain hunter, there are many great software programs on the market that allow merchants to avoid
purchasing equipment and only use their merchant account for credit card transactions.

This can save you thousands in avoided fees...but of course read the fine print for everything. Make sure you completely
understand before you sign the dotted line! Always be informed!

How Do I Know This Is Not A Scam?

Research! Don't hand your hard earned money to just any company that offers you a good deal. If it sounds too good to be
true, sometimes it is! Trust your gut instincts. Ask for referrals from your friends and business associates. Check the Better
Business Bureau. Ask questions. Do your due diligence. Find out how long the company been in business. Look for "Red
flags" such as:

* Hefty Application Fees

* Exorbitant Fees

* No Refunds Under Any Circumstances

* No Customer Service Number Provided

* Authorization To Debit Your Bank Account At Any Time And For Any Reason

***WARNING!! DON'T OVERLOOK READING THE FINE PRINT UNLESS PROTECTING YOUR MONEY IS
NOT IMPORTANT TO YOU!

Legitimate Charges: Expect to pay higher fees for bad credit ratings, mail-order, telephone and travel related and internet
businesses. Any business where the credit cards may not be manually swiped through a physical terminal, or may have a
higher incidence of chargebacks. A higher rate of fraud can occur because the Merchant may not be able to physically
"see" the cardholder and therefore cannot verify that the information given by the cardholder is really true.

Questions Should You Ask Before Applying For Merchant Status

*Discount rates for your particular line of business. (If your business is considered "high risk," your rates will be higher.)

* Reserve Fees: (Do they withhold a percentage of each sale as a protection against chargebacks?)

*How long does it take for money to be deposited into your bank account? (2-3 business days on average).

*Are there penalties for exceeding your approved monthly sales volume? (you would think they would be happy about this,
but some will charge you for it)!

*Any "hidden" or extra fees? (Again, read the fine print)!

*Can You Accept ALL Major Credit Cards?

*How long does it take for the account to be set up? (Average 7-10 business days.)

*Reprogramming Fees: (If You want to change the information programmed on your equipment or change the products
you were approved to sell).

*Is the lease noncancelable? How long is the lease? (Average: 36 or 48 months.)

*Any prepayment penalties If you lease? (Will they charge you for paying off the remaining balance of your lease early?)

Can you accepts checks as well? Are you protected in case you get a "bad check"?

Protect Yourself! If it is internet related, does the company offer real-time processing and a secure gateway to protect you,
the merchant from fraudulent purchases? Look for "merchant friendly" providers. Avoid getting "kicked to the curb" by
your credit card provider if you are scammed!

Alternatives For New/Small Businesses

Research these services until you are ready to upgrade to a merchant account. I don't personally endorse them, but you
may find them useful in the meantime. Always read the fine print!

http://www.Paypal.com

http://www.ccnow.com

http://www.ibill.com

http://www.clickbank.com

http://www.ccslide.com

Save On Equipment Purchases With A Merchant Account!

http://www.icverify.com

http://www.dydacomp.com

http://www.versacheck.com -Accept Checks Through Your Email!

A Merchant Account I WILL recommend!

This merchant provider is a real winner! They offer low discount rates, NO Monthly statement fees, NO set up fees, NO
leases, And SAME DAY deposit of funds. Very affordable! You can cancel at anytime if you change your mind! How can
you beat that? Check this company out by visiting: http://strictlybu.evsholdingco.com

Keywords: merchant account, credit cards, e-commerce, online sales, web sales, credit card processing,

Written by: Marie Parker, Scottsdale, AZ, USA

travelbiz@usa.net

http://www.youshowmethemoney.com