While choosing merchant accounts, you need to make sure that some important aspects of the account are dealt with before opting for the account. The salient aspects that must be taken into consideration while you are comparing the prospective merchant account providers are as follows:

The first vital feature is Interchange Pricing that was extended to only large business establishments. But this is not the case these days and it has become a commonly available feature of the merchant accounts. This involves applying mark-up prices to processing costs for all transactions. It is also known as interchange plus or cost plus. The advantages of Interchange pricing are its cost effectiveness and transparency when it is compared to tiered pricing that is popular in merchant accounts. If start up companies and small establishments face difficulties in obtaining interchange pricing, the best thing to do is comparing the quotes of different account providers. This way, the merchant can find the best deal in terms of rates and fee.  

Zero cancellation fees are another feature that is not difficult to find these days. Due to competition, providers of merchant account are keen in improving their businesses and so are keen in offering some advantages to their customers by announcing that in the event of cancelling the credit card they will not burden the customer with any fee.

A well-informed and committed representative is any customer’s wish and all busy customers want quick assistance without waiting for their turn. All merchant account providers should extend this facility to customers so that it becomes easy for customers to obtain help inspite of their busy schedules.

Low rates and fees are an attractive feature when merchants hunt for cost effective merchant account providers. Though rates and fees are not the only deciding factor, it is good to enjoy reduced fees. When rates are high, merchants can check out what other benefits compensate it such as gateways and credit card machines.

Prompt and efficient customer service is another feature that needs consideration while choosing merchant accounts. It must be easy to reach the customer care executives over phone. It is also advantageous to have local representatives who can be paid a visit for any concerns.

Though the above features are indicative of a good merchant account, it is really not possible to weigh a merchant account based upon these features alone. Anyway, making sure that these features are present will provide minimal assurance on the quality of the merchant account. There may be other features which would be of importance for different merchants. So, it is essential to collect sufficient information pertaining to other features as well before making a decision. The internet is a massive source of information and by spending just a few minutes to about an hour can fetch enough information that will help in the process of deciding the best merchant account. The merchant account business is ever expanding and it is quite easy to zero in on the suitable merchant account that can address all your needs. 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.