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Some Merchant Account Fees You Should Avoid Like The Plague

Merchant Accounts have fees – obviously. While investigating these fees you might come across a provider that might try and pass ‘additional’ fees past you. The scope of these fees might come in any form – startup, annual, termination or a fee for each transaction.

SETUP FEE – Should you be presented with this fee – DO NOT accept it. It usually occurs when your account is O.K.’d. Always say “NO” to this fee.

ANNUAL FEE – There is no reason for this fee. The provider is just “trying to stick it to you”. Always say “NO” to this fee.

MONTHLY FEE – It is usually stated that you have to meet a minimum monthly dollar amount of processing. Always say “NO” to this fee.

TERMINATION FEE – At the time of the merchant account contract , (the contract  usually runs for a 36 month time frame), the processor will try to stick in a clause that states if you cut your business ties with him sooner than 36 months that they want a early termination fee.

Always say “NO” to this fee. Always be aware of unnecessary frivolous fees. They will always affect your bottom line.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.