Internet Marketing -- Merchant Account Costs
Don’t let them rape you:
Get firm numbers right up front regarding fees. Find out the following fees BEFORE you sign a contract:
>> Monthly fees
>> Credit card percentages
>> Per transaction costs
>> Find out exactly what a transaction is
>> Does calling for an "authorization only" constitute a transaction?
>> Does doing a return equal a transaction?
>> Do they charge a Gateway fee?
>> Do they charge a monthly statement fee?
>> Do they have a discount fee after you meet a money quota?
>> What is the money quota?
All these fees add up.
>> What credit cards will your customers be able to use?
The big three that you need are Visa, MasterCard and American Express. Sometimes you can throw in Discover card if you feel like it. I've never lost a sale that I know of because I only take three credit cards.
One of the places I've heard you can get merchant accounts is at the big warehouse store, Costco. I don't know the details, but apparently if you shop there they have a program to get you a merchant account. It's certainly worth checking out.
You must sign up with American Express directly. You can do it on line at http://www.americanexpress.com/homepage/merchant.shtml
Assistance on securing merchant accounts
http://www.acceptcreditcards.com/default1.asp