There are many merchant account providers (commonly known as “credit card processors” or just “processors”) so it’s important to understand what a merchant account entails and what to keep in mind both when you apply and while processing. While merchant accounts aren’t free, we’re not going to tackle rates and fees extensively in this article. […]
If you run a business and want to accept credit cards, you’ll need to open a merchant account.
An ACH delay is not the most restrictive condition a processor can impose, but it’s still important to consider how it will affect your merchant account. Find out what this means for your business in this article. What is an ACH delay? Effects of an ACH Delay on Your Business Fast Facts About ACH Delays […]
When signing up for a new merchant account in order to begin accepting credit cards, some businesses may be asked to agree to an ACH delay.
Merchant account holds or full account freezes disrupt your cash flow and can make it difficult to conduct business. In this article, we’ll take a look at both holds and freezes, why they happen, and what you can do about them. This article refers to account holds and freezes on funds from sales at a […]
An extremely important but seldom talked about topic in credit card processing is merchant account holds and freezes.
Let’s take a look at what matters – and doesn’t – when it comes to applying for a merchant account. Why does my personal credit matter? During the Application How good does my credit have to be? Does my personal credit affect my rates and fees? Can my existing merchant account be revoked if I […]
A merchant services account is essentially a line of credit that enables you to accept credit cards. As the applicant for a merchant account, your personal credit is an important consideration during the application process, but it doesn’t have the same effect as it would on a conventional line of credit or a loan application.
For example: If your merchant account has a 5% rolling reserve for 18 months, the processor will withhold 5% of your gross sales. The 5% of sales that are withheld will not be accessible to you for a year and a half. Why are rolling reserves imposed? Transactions Affected by Rolling Reserves Effects of a […]
A rolling reserve allows a credit card processor to withhold a pre-specified percentage of your gross sales. The processor deposits the held funds into a non-interest bearing account for a pre-determined period of time that is specified in your merchant processing agreement.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
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