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Helpful Tips When Applying for a Free Merchant Account Online
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. Only with an online merchant account will it be possible for you to take a credit card as payment for your products or services. With the rise in startup businesses, it should not be surprising at all why there are plenty of free online merchant accounts there. If you are interested in signing up for one, then you have to first find an interested lender who wants to work with your company. The usual lenders will be charging you $100 for an online merchant account. Through your merchant account, you will find that there are some companies that will not be requiring this fee from you as well as other associated expenses. These companies are around to attract businesses such as yours. For this case, your approval can be fast and setting up your account can only take a couple 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 begin looking for free online merchant accounts, you have to start checking larger name banks as well as lending institutions. Plenty of companies are offering these merchant accounts. To ensure that you get a good deal, you have to compare terms and prices. Even popular banks can botch any merchant account offer. In short, you should not just consider the past performance or name of the bank when choosing one. 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 have to inquire about costs that are not part of the price list. If possible, get their reply from this query in writing so that you can file it for future reference.
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. You have to go with a company that gives you the best payment option for your kind of business. Some companies will require a free per transaction while some will only charge your account at a low percentage rate per month. If you have no idea which option suits you best, make sure to give the lender representative a call.
You then proceed to make an online application if you have identified the company that gives you the best offer for a free online merchant account. You will know if your application is rejected or confirmed after a couple of days through email or postage.