Online Merchant Account for Identity Restoration Business

Are you running an Identity Restoration Business? Few things should know for an online merchant account. You require a merchant account to accept credit card and debit card payments. Your merchant account works as a bridge between your bank account and the customer's bank. When you get a merchant account, you are required to take after standards and controls set up with the credit card companies and your bank. This incorporates the number of fees related to both the accounts.


Fees associated with a merchant account

Cancellation fee: It is charged when you send your contract with an online merchant account before the due date of your contract. Not all the providers require a contract, but those who have this police ask for the cancellation fee.

Chargeback fee:
When money is returned to the customer. This fee is initiated by the bank of your customer, often because of fraudulent transactions. Chargeback is one of the reasons why merchants around the globe lose thousands of dollars. It is a fee that merchant account providers take for processing the chargeback request.

Gateway Fee:
It is a monthly fee to keep your merchant account. This fee is the charge to maintain your online merchant account. Some online payment gateways don’t charge money, while others may charge as much as $20.

Monthly minimum:
This is the amount your account is required to process on monthly basis. The fee is charged to maintain the account, but if you don’t exceed the minimum, then merchant account providers will charge you accordingly.

Statement fee:
A statement fee is charged by all the online merchant account providers. This fee is associated with your statement and it is taken at the end of the billing cycle. You will pay between $7 and $10. It is charged when you get a paper base or paperless statement.

Transaction fee:
As the name suggests, it is a fee that is charged every time a transaction is processed. Usually, it is between 20 and 25 cents. This fee remains the same no matter how big the transaction was.

Merchant Stronghold understands that your Identity Restoration services require customized account so that you can run your business flexible.
Location: Clearwater, FL, USA

Comments

Post a Comment

Popular posts from this blog

Why Cannabis Oil Is Big Business | Merchant Account for CBD

Image
Merchant Accounts for CBD CBD merchant accounts are our most in-demand product, for which we have proven domestic and offshore banking solutions for CBD merchants. Merchant Stronghold provides the best merchant services for your CBD Businesses . Legalization brings a lot of opportunities, including many that are unexpected. One of the biggest areas for expansion is cannabis oil. Cannabis oil can mean a lot of different things but most importantly, it’s giving consumers and entrepreneurs a new way to explore and benefit from the marijuana industry. Here’s why cannabis oil is big business, and how any entrepreneur can tap into this nascent market. The cannabis oil market is huge There are many different kinds of cannabis oil on the market. All of them are growing in popularity. The CBD market alone is predicted to reach $22 billion in 2022, according to Brightfield Group. The CBD market is blossoming CBD, short for cannabidiol, is the main non-psychoactive
Read more

How to avoid TMF or MATCH LIST?

Image
Firstly, follow the lawful business practices to never get quarantine by the Banks. After that you can avoid the following situations: Never try any kind of fraud Decrease the number of chargebacks Pay the debts on time If you owe any amount to the bank, try to return it in the stipulated time frame Finally, get an expert to help you with the troubles How to Get Off TMF List? If you are under the TMF list then the previous merchant service provider can help you understand the exact reason for your query. You need to reach out to the previous bank that offered you the merchant services. For that, you can contact their support number or send an email. Otherwise, the MasterCard generally put the merchant for 5 years in the MATCH list In the case of fraud, you are highly unlikely to get off the list. You need to know the reason and the reason code, under which you are added to the MATCH. Talk to the bank executive for the reason and take notes of the reason co
Read more

Important Factors of Merchant Account Processing

Image
You are new to the business or have lots of experience, you still might have some misconceptions about it. Not Worth the Time  – Firstly, entrepreneurs find that they have the  best payment processing  with the banks, some businessmen don’t care about the ease they get while doing the transactions through a merchant account. Expensive Affair  – Yes, the merchant accounts don’t come cheap, but they are not costly either. They just tell you the fees in a package where all the things are segregated and revealed as one. As well as the providers tell you the fees in percentage so, you have a clearer perspective on the rates. Misleading Promotion  – The misconception is that the service providers prevent the facts and sell the merchant accounts in higher percentages or give out misleading information as a result of non-formal training and burdened pressure to close a deal. Independent agents have a bad reputation for failing to disclose some of the more serious terms of the
Read more