What is a merchant account?A merchant account is a special bank account for businesses that allows them to accept credit cards. By setting one up, a retailer enters into an agreement with a merchant bank and a payment processing service, in which transaction and monthly fees are charged to the retailer in exchange for a credit card payment infrastructure. Not all accounts are created equal, as different types will be better suited to different businesses, and rates will vary from bank to bank. Spending some time to learn about the different credit card processing services available can potentially save a business lots of money in fees over the long term. This article will review the main kinds of merchant services available and the kinds of businesses that are best suited to each.Over the counter accountsRegular merchant accounts are most often used by retail stores. They are also called OTC,spyder ski hats store, or over the counter,kids moncler vests, accounts. These types of accounts have the lowest fees, usually around 2%, because they are considered to be the safest. This stems from the fact that the physical credit card is present and swiped at the point of sale, reducing the risk of fraud. Internet merchant accounts function in the same way except that credit card information will be entered manually into their computer by the customer. Fees will be higher because the risk of fraud is greater.Third party merchant accountsThese types of accounts use services like PayPal, 2CheckOut, and ClickBank as an indirect link to merchant banks. These companies will process credit card transactions in exchange for a percentage of the sale price. This amount can range between 3% and 15%. The advantage of this type of service is that there are no monthly fees or transaction fees. This can be a good solution for international businesses who don’t want the expense of a merchant account or occasional retailers who make infrequent sales. Rates will vary from company to company and will also depend on the type of transaction.High risk merchant accountsThese accounts are a subcategory of internet accounts that cater to industries where credit card fraud is more common. These industries include gambling, the adult industry, pharmaceuticals,spyder ski hats cheap, and telemarketing. Any business involved in sales of this nature will be required to sign up for a high risk account and pay higher rates. International accounts may also fall into this category.How to find a merchant accountA good place to start when looking around is to consult customer reviews online. It is important to compare as many reviews as possible in order to determine the prevailing opinions and not just a few isolated reviews. Another good way to search is by asking other local or similar businesses who they use. This way you can get practical reviews from people with experience. Checking the Better Business Bureau for objective professional comparisons of products is also an essential step to take before choosing an account.Accepting credit cards in this day and age is essential for most businesses, especially those that rely on the internet. Merchant services by nature include lots of transactions and so even small differences in fees can add up quickly,spyder ski pants for women. Because there are many companies that offer merchant accounts, it is possible for retailers to shop around for the best deal and the best fit for their business. Taking the time to learn the ropes will most likely represent significant savings over time.Now that you’re aware of the importance of a merchant account,cheap spyder ski outerwear for men, check out the resource listed below in the bio to learn more about getting one.