Easy Merchant Account Services

What are merchant account services?

Merchant account services allow you to accept credit cards and debit cards as a payment method. Let's face it - personal checks are not only outdated, but they inconvenience the customer, and they're risky for you (I'm sure you are quite familiar with the term "non sufficient funds"!). Cash, while easy, also is a risk to customers, so many people prefer the ease and security that comes along with using credit cards. When you sign up for merchant account services, you are taking the next step in the business world and accepting the preferred payment method - credit cards.

Can I use a friend's merchant account services to process transactions?

Most definitely not. While it may seem harmless to "borrow" a friend's merchant account services to take care of several transactions, or even one or two, this practice actually has a name - credit card laundering. It may not be considered illegal in a court of law, but it is strictly prohibited by most credit card companies (especially Visa and MasterCard), and definitely prohibited by almost all merchant account service providers. Avoid fines and penalties and rather than using a friend's merchant account services, sign up for your own merchant account services.

When will I receive funds from my merchant account services?

When you will receive funds from your merchant account services depends upon the withdrawal and deposit schedules that are set and adhered to by the provider of your merchant account services. Some providers of merchant account services promise to have funds deposited in as little as two to three business days (note that weekends are excluded). Others may go by a more traditional schedule, ie every week or on a bi-weekly basis. In some instances providers of merchant account services may be willing to make extra deposits or deposits ahead of time, but there may be fees assessed for this benefit, so make sure you inquire about them before requesting those types of deposits.

Are there other types of merchant account services available?

Standard merchant account services refer to the type of merchant account where you, the business owner and/or operator, receive credit card processing equipment to use in a store setting to process credit cards and debit cards. But, as you may already know, there are other types of merchant account services available for use. These additional services include real-time processing for websites, software for computers for those who process orders via mail, telephone and the internet, touch-tone processing for low volume transactions, seasonal accounts and mobile (wireless) accounts. Each of these merchant account services has its own guidelines and usages, so make sure you know exactly what it is you're looking for before agreeing to a certain account.