|
Some Merchant Account Fees You Should
Avoid Like The Plague
Merchant Accounts have fees – obviously.
While investigating these fees you might
come across a provider that might try and
pass ‘additional’ fees past you. The scope
of these fees might come in any form –
startup, annual, termination or a fee for
each transaction.
SETUP FEE – Should you be presented with
this fee – DO NOT accept it. It usually
occurs when your account is O.K.’d. Always
say “NO” to this fee.
ANNUAL FEE – There is no reason for this
fee. The provider is just “trying to stick
it to you”. Always say “NO” to this fee.
MONTHLY FEE – It is usually stated that you
have to meet a minimum monthly dollar amount
of processing. Always say “NO” to this fee.
TERMINATION FEE – At the time of the
merchant account contract , (the contract
usually runs for a 36 month time frame), the
processor will try to stick in a clause that
states if you cut your business ties with
him sooner than 36 months that they want a
early termination fee.
Always say “NO” to this fee. Always be aware
of unnecessary frivolous fees. They will
always affect your bottom line.
|
