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Introduction Merchant account solutions Merchant Account List No merchant account
Merchant Account Solutions If you run a home based business, you have two options for accepting credit cards. You can either get your own merchant account or sign up with a third party that will handle the transactions for you. When making your decision, it really comes down to how much money you're willing to spend. A merchant account will have a much higher cost than a third party service, but often the transaction fees (a percentage of each sale) will most likely be lower with that option. With a third party, no equipment is required, but you don't have control over as many aspects as you would with a normal merchant account.
First, let's take a look at what is involved when getting a merchant account. Further below on the page, we will cover the alternative of going with a third party to handle your credit card transactions. Getting a Merchant AccountGetting a merchant account is much easier these days than it was 5 years ago, and is much easier than it was before the internet. As noted on the previous page, there are many companies that will use their own reputation to secure a merchant account for your business. In exchange, and as a source of income for the company, you are required to purchase or lease either a credit card terminal or credit card processing PC software at a high price. While you might be put off by the thought of paying extra money for a terminal or software, this is a good deal considering the difficulty associated with getting a merchant account directly through a bank. This is especially true for home based businesses that may be classified as high risks. The price of this equipment is usually $200 to $800 US, and with additional fees the cost can run up to $1000. When you decide it's time to get setup with a merchant account, there are some things you can expect to be asked to provide:
Where to get a Merchant AccountThere are many companies that offer the merchant services mentioned above. As you would expect, not all offer the same rates, equipment prices or quality of service. To make matters worse, there have been many cases of merchant account scams where the provider would tack on all kinds of hidden fees with outrageous service charges. You can find a list of merchant service companies in the Directory, but you should use common sense and caution when looking over a companies website. These are some important things to look out for when comparing merchant services:
International IssuesMost of the companies offering merchant services have arrangements with US banks, so your business will need to be based out of the US as well. However, even if you don't live in the US you can get a merchant account from these companies. You have two options. The first, is to incorporate your business in the US. This can be done even if you're not a US resident, but the cost can be high. This is a good long term solution, However, you may not need to go with incorporation if you have any family members residing in the US. You can register a business using a relatives address (if they allow you to) and have your business based from there. However, without US credit you may still need a security deposit.  Business Startups NewsletterRecommended LinksBusiness Opportunity Goldmine at Home Make Money Make Money Online Work at Home Jobs Work at Home Vision Add your link |
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