How to get a merchant account

How to get a merchant accountIf you want to take credit and debit card payments you need set up merchant account. "How do i get a merchant account?" - with wonder you asking yourself. So we can help you with this case. You should know if you are going to set up a merchant account you may stuck with various problems in the process. And if you don't want miss your business in case when people want to pay you, but can't because you haven't a merchant account, you can get help from our experts.

Answering the questions "Нow much is a merchant account?" and "How to create a merchant account costs?" is difficult because the cost of merchant account depends on many things such as the type of business, the type of merchant account, whether or not it is high risk or low risk and a number of other variables things. But one thing remains constant in all merchant account providers - a monthly statement fee.

Monthly statement fee can be $10 a month or even less, but if you haven't a high volume of credit card transactions a minimum fee can be $25-$30 a month. So monthly statement fee depends on the number of transactions and could range from $10 to $50 per month. Merchant account service providers also receives a commission on every single credit card transaction. This fee can range from 2-5%, which means that commission depends upon the provider.

 The transaction commission remains the sameIn case when company is considered high risk or has poor credit history or this is a new company with little to no track record, discount rate could be appreciably higher. By the way, the owners of merchant account pays an additional fee per transaction with a range of 20-80 cents per transaction. The transaction commission remains the same and no matter how much money is processed during the transaction. In addition, if the customer want to get a refund, there will be a chargeback fee that depends upon the merchant account provider.

At present there are a lot of merchant account providers around the world and from your choice depends your monthly fees. But don't worry about that PaySpace will help you to create and open merchant account with optimal fees.