A Step-by-Step Guide to Applying for a Free Online Merchant Account
When it comes to most small business owners, they don’t have that much money to shed in credit card payment processing fees that is why they turn to getting a free merchant account. When you have an online merchant account, you can immediately accept credit card payments with ease. With the rise in startup businesses, it should not be surprising at all why there are plenty of free online merchant accounts there. For those who have plans of getting this account free of charge, you have to first consider finding lenders who are very much interested to partner with your company. If you want to create an online merchant account through these lenders, some of them may require a $100 payment from you. Others, on the other hand, will not be requiring such a free and additional expenses just so you can work with them. These companies are present to make sure to attract your business. You may be approved quickly with this option and your account will be set up quickly in a matter of days. You can then begin accepting credit cards online as payment. However, you have to first find a merchant account service provider that will help your company in this regard.
To begin looking for free online merchant accounts, you have to start checking larger name banks as well as lending institutions. A lot of companies offer merchant accounts. It is important that you take your time looking into the various terms and prices offered to you so you know you have a good deal. You have to be careful in these aspects because even popular banks can both such an account offer. This goes to say that you should not rely on the name of the bank or its past performance. To make the right merchant account choice, you have to consider their application terms and conditions properly. If there are costs not included on the price list, make sure to ask about them. For future reference, be sure to file the reply they give you in writing.
Even if you are getting a free merchant account, you have to take your time looking through each website page where these accounts are featured. You have to always look after the interests of your business in terms of the payment option you get from the company. 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.
After figuring out which provider of free online merchant accounts is right for you, get an online application. You will know if your application is rejected or confirmed after a couple of days through email or postage.