“Fast and easy”, “Quick and Smart”, “Overnight approval”, these are some of the terms that have been used to catch your eye on merchant account servicer websites. Don’t fall for the sales tactics. Take your time looking for the merchant account servicer that will work for your business.
Let’s just say
You need an adult dating merchant account. Don’t settle for just any servicer. You have a very sensitive account that will need lots of servicing. You don’t need failure and you sure don’t need your money held up.
With a site like this
You can count on it being in the high risk pool. Don’t panic! It’s only because of the business that might require an extra-ordinary amount of chargebacks; Also known as refunds. If you take care of all those and they don’t end up in the chargeback system with the cardholder’s bank, then you won’t have to worry about being a high risk account for very long.
A lot of businesses that we count on every day are in the high risk arena. Just think airline tickets when you get frustrated, because they too are in that pool.
Your Escrow Account
Also known as a reserve account, this will be something you need to plan for. As a newbie to the business and a new account, your merchant account servicer will hold a certain amount back in a reserve account. For the trial period of three to six months, that money will sit in an account until you have reached that goal. Once that is over, then it is released to you in full.
If you cover your policies in a section on your website, then you might be able to get your trial period over sooner. As long as you follow the rules and take care of your refunds, you should be rocking and rolling your business, right into a stream of success.
There are many merchant account servicers out there to help you process your debit and credit card purchases. All you have to do is locate the one that best works for you. You want great customer service. You want someone that will pick up the phone when an issue arrives, and you want to make sure they deliver the cash when you ask them to. So, take your time to find the right one and don’t let those fancy advertisements pull you in. You want the one that works the plan and plans to work.