A Step-by-Step Guide to Applying for a Free Online Merchant Account
Signing up for a free merchant account is great if you are still a startup business that cannot yet afford expensive credit card payment processing fees. When you have an online merchant account, you can immediately accept credit card payments with ease. Because of the increasing number of businesses out there, you should not wonder why you can find many companies that offer free online merchant accounts. For those who have plans of getting this account free of charge, you have to first consider finding lenders who are very much interested to partner with your company. If you want to create an online merchant account through these lenders, some of them may require a $100 payment from you. There are other lenders, though, that will not charge you this fee and other expenses with your merchant account. These companies are around to attract businesses such as yours. You may be approved quickly with this option and your account will be set up quickly in a matter of days. This allows you to know accept online credit card payments. But then, your merchant account service provider will be there for you if you make sure to also find them first.
To find companies that offer free online merchant accounts, you have to check with lending institutions and larger name banks. A lot of companies offer merchant accounts. It is important that you take your time looking into the various terms and prices offered to you so you know you have a good deal. Even popular banks can botch any merchant account offer. This goes to say that you should not rely on the name of the bank or its past performance. If you want to make the right selection, be sure that you focus on the terms and conditions when applying for a merchant account. You should be asking about other costs that you don’t see from their price list. For future reference, be sure to file the reply they give you in writing.
To be sure that you know what you are getting yourself into with your free merchant account, check every page of the website that provides featured accounts. Choose a company that can provide you with the best payment option for your business interests. Some companies will require a free per transaction while some will only charge your account at a low percentage rate per month. You have to take the time to call the lender representative and talk about your options if you are not sure which one will suit your business needs and clients best.
Once you’ve made the right free online merchant account selection, you can proceed to process your application online. In just a couple of days, you will find out through email or postage if you have gotten a rejection or confirmation of your application.