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WHAT TO LOOK FOR BEFORE OPTING FOR FREE POKER MERCHANT ACCOUNT

There are numerous types of merchant accounts that are common these days. Even small businesses need a merchant account so that they do not indirectly encourage customers who prefer to pay using credit cards to visit their competitors. But before opening a merchant account, first it is better to know the merchant accounts that are available. After judging the suitable merchant account, more details must be collected so that all the rates are clear much before opening the account. The actual process of opening the account is not tedious and many account providers do not charge for opening the accounts.

Throwing some light on the different merchant accounts, the 3 types are Internet, mail order - telephone order (also known as MOTO) and retail. There are some differences in these accounts with respect to the fee associated with transaction and also the rules that govern their usage. It is also quite common for a single business to own different types of merchant account and not restricted to one.

Retail merchant account - These accounts have the least transaction fee associated. On the contrary, the rules that are associated with such accounts are more restrictive compared to those of other accounts. The feature of this account is that it requires minimum 70 percent card sales to be done ‘card present’. The card should be swiped in the card terminal present. Generally, these accounts are related to businesses like groceries, hotels, restaurants and brick & mortar.

MOTO merchant account – Whenever credit cards are not swiped, it means that the account associated with it is the MOTO merchant account. They are associated with high transaction rates. These accounts came into being for meeting mail order firms’ card processing requirements. These companies have the history of receiving nearly all their sales either by phone or mail.

Internet merchant account – They are similar to MOTO accounts and have some additional unique features.

In addition to this, there is something called free merchant account and these are some of the traps that merchants should avoid before deciding on them.

First, the agreement should be read thoroughly so that he/she does not miss out any hidden charges and fees. No merchant account is free of charges and it is the duty of the merchant to be clear about discount rates, transaction fees and monthly fees.

All fine print details must be read without fail. In fact, these details must be read first. It is here that you will find important information that you will have to bear in mind in the long run.

Whenever there is a doubt, it is a good idea to note it down and clarify it as soon as possible. There are enough customer support and representatives to offer you more details, wherever necessary.

Know the account providers well – Get adequate information about the account provider who you are interested in so that you will get to know past customer experiences and their general functioning.

While doing all of these, it is indeed fine to accept freebies provided the reputation of the company is not questionable. 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.