merchant accounts with low transaction and monthly fees?
Posted by admin in Merchant Accounts Friday, 16 April 2010 16:03 2 Comments
I’m searching for a merchant account that has a low discount rates/transaction fees and low monthly rates. I found one with a 2.07% + $0.25 per trans fee, but I know there has to be lower than that.
I have an online retail store.
Any help is appreciated.
Get a merchant account at Costco.
Anytime you see a single rate quote like this you are only seeing the tip of the ice. Is this your “qualified” rate? What happens if you take a rewards or business card? Is this rate lower if you take a signature debit (check card)? And then there is the fee schedule, minimum billing and 3-year contract terms with early termination fees.
You want to avoid this type of quote. First, insist on a month-to-month merchant service agreement (read all the fine print for yourself) and second, insist on direct Interchange pass through pricing. Month-to-Month terms prevent “introductory” pricing schemes.
You can get an instant merchant Interchange rate quote at http://merchantrates.com. Then with ALL the rates and fees in hand, speak with a professional consultant who can answer your questions. Or Google keyword “merchant Interchange rate quote”. I hope this helps.