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TOBACCO MERCHANT ACCOUNT PROVIDERS AND LIMITS

There are numerous merchant account providers who have high rates of approval and merchants will not only be able to find a suitable account provider but will also rest on the fact that that they will not face any denial. Adding to this is the fact that the approval is not directly related to the credit history of the merchant and so merchants who are yet to build a good credit history too can benefit from merchant accounts. Having a merchant account facilitates payments using credit cards and there are a multitude of merchant accounts available like retail, free, online etc.

The limits on the merchant accounts are decided after considering the credentials of the merchant, size of the business and the time for which the business has been in existence. For those businesses that have the potential of growing fast and for those whose major portion of the sales is via credit cards do not have unlimited processing. Banks even choose to hold back some amount from the revenue of the merchant for charge backs. The factor that is used in the negotiation of discount rates is the sales volume that reflects in the number of transactions. As a general rule, an increase in the number of transactions will prove beneficial for merchants and banks since this means that profits are good.

Some of the benefits extended by providers of merchant account to businesses that are internet based are – less rates and international processing, free of cost virtual terminals and gateways, constantly available customer service & technical support in addition to experienced representatives. Some even waiver setup, monthly minimum and gateway costs.

Some providers accept payments quickly, even within a day. The first month is a trial period and all cards are accepted. Separate support is available for shopping cart and the shopping cart itself is free. Check whether the account provider you shortlist charges or does not charge for the gateway transactions. Authenticating the cardholder too is free of cost with some providers.

Some merchant providers send statements without charging even a minimal fee. The other facilities available are protection against fraud, multiple currency transaction, tracking affiliate etc. While some providers charge a fee for setting up the account and offer additional features, some offer free setup and limited features.

It is convenient to compare and contrast between merchant accounts providers these days since the rate of accepting merchants is far too high. So, assuming that merchants will be approved by multiple account providers, the merchant should collect information about some recommended account providers and cross check which costs can be easily borne and which costs need to be waived. The decision will solely lie with the merchant though he can talk to multiple representatives about the fee and rates. In addition to ease of obtaining the account, the merchant must also consider after sales service like technical support and round the clock customer service since these cannot be compromised in any case. 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.