February 18, 2010
how much does it normally cost to open a merchant account?
kristincoburn21 asked:
I signed up for a merchant account to accept credit cards for my new in-home business but my husband said that I probably made a big mistake cause they charge you a lot. I really didn’t see much writen about fees but he says there are probably tons of hidden ones, now I’m worried. It anyone in here has a merchant account could you give me a little more insight to them.
I signed up for a merchant account to accept credit cards for my new in-home business but my husband said that I probably made a big mistake cause they charge you a lot. I really didn’t see much writen about fees but he says there are probably tons of hidden ones, now I’m worried. It anyone in here has a merchant account could you give me a little more insight to them.
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Comments on how much does it normally cost to open a merchant account?
the one I have charges me $25 a month plus 2-3 % per transaction. I think there was also a setup fee of $100-$200 (I forgot, it’s been a while). They also had a minimum commitment of 3 years. AMEX was $5 a month extra. Every thing should be in the fine print that you signed.
well i have had all kinds of offers and the best one i have seen is that they give you equipment for free, no monthly charges, no minimum requirements and then a small percentage fee per transaction. They all vary upwards from there. see buyerzone.com i got four offers right away there and then used them against each other to get them to keep lowering their prices and requirements.