Understanding Merchant Account Fees: A Comprehensive Guide Introduction Let's face it: merchant accounts can be confusing. There are a lot of different types of fees, and you're not always sure what they'll cost. To make things even more difficult, different providers use different terminology to describe their rates. But as a merchant account provider ourselves, we know how to help our clients navigate these waters. We want to share some of our knowledge with you so that you can learn about merchant account fees—and how to avoid getting caught up in traps that could cost your business big-time money! What are merchant account fees? Merchant account fees are the costs associated with accepting credit cards. They can include interchange, assessment and monthly fees. Interchange: This is the price you pay to your processor for every transaction that goes through their network. It's regulated by Visa, MasterCard and American Express. The fee varies depending on which card...
What is a High-Risk Merchant Account? High-risk merchant account is a type of business bank account that is assigned to those merchants who present a degree of risk associated with their business. The industries that fall into the high-risk category are – . Adult Entertainment . Cigarettes and Tobacco Industry . Tech Support . Gun and Firearms . Debt Consolidation . Smoking Accessories . Forex Trading . Annual Memberships . Bail bonds . Casino and Gambling Business . Telemarketing . Telecommunication Features that make Businesses to High-Risk Merchant types The businesses with one or more of the following features make them to the high-risk merchant business – . The business that has been blacklisted by credit card companies on the TMF or match list. . A business that sells future deliverable products such as hotel reservations, tickets to an event, etc. . A business that sells expensive items such as furniture or custom auto parts. . Businesses with high sales vo...