LINKS

"
THE LOWEST RATES...
MOST BUSINESS TYPES...
WE SAY YES WHEN
OTHERS SAY NO...
7 DAY APPROVAL...
NO HIDDEN FEES...

"

 
 
1.800.393.3230
 
 


   

PAYING THE DUES OF YOUR HIGH RISK OFFSHORE MERCHANT ACCOUNT

Getting an “Offshore Merchant Account” involves a lot of paperwork and certain set up fees. However, some merchant account providers offer to set up a merchant account with them, for free. However, for an “Offshore Merchant Account”, there will mostly be some kind of a fee involved.

Merchants hesitate to open an Offshore Merchant Account because they think that there are several hidden costs embedded in the agreement documents. Then, what you would do is to sign up for a number of services because it was reasonable to you. However, once you get the bill, you will see a big number as a result of the small number of additional fees for your account. This will cause a lot of frustration to you.

Therefore, this article will give you a good idea as to what kinds of fees are charged by the providers to open a merchant account. They are:

  • Statement Fee
  • Address Verification Fee
  • Discount Rate
  • Fee for Shopping Cart Software
  • Check by Phone or fax, fee
  • Software fees for Retail Swipe
  • Transaction Fee
  • Gateway Setup
  • Over limit Fee
  • Maintenance Fee, paid every month
  • Annual Fee
  • Programming Fee
  • Setup Fee
  • Application Fee

The application fee is waived off by most of the providers because of huge competition in the field. 0 fees for application is one of the strategies for marketing and attract more clients. But for the sake of information, the application fees charged are between $75 and $125.

The companies are also not charging any Setup fees these days. This is again due to competition. The industry rate varies between $50 and $150.

The programming fees should be paid by you when you install a terminal or software. This is also a thing of the past and was in the range of $50 - $95.

Annual fee is like a membership fee and reached a maximum of one hundred twenty five dollars. This fee is also waived off by many providers. “Monthly maintenance fee” is an alternative for the annual fee and can be chosen by the customer whether he wants to pay once in a year or once in a month. This is about $10.

Over limit fees is like a penalty that is charged when you exceed the limit offered by your account. This is also a thing of the past now.

The “Payment Gateway Setup Fee” is charged for the setting up of the payment gateway.

The credit card processor charges the merchant for every transaction called as Transaction fees which varies from 20 cents to 30 cents.

The “Retail Swipe Software” is a software solution for processing of credit cards. The fee charged for this ranges from $175 to $395.

“Check by Phone or Fax PC Software” fee is charged for payments that are made by sending a fax or the phone using the check. The fee charged is $149 a month.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.