Merchant Accounts

If you are a business owner and wish to accept credit card payments, you need to establish a merchant account with a financial institution. The merchant account will keep track of customer charges and credits. At specified intervals, the net amount of money in a merchant account will be transferred to a bank account of the business owner's choosing. As a business owner, you will have to pay fees to the financial insitution for running your merchant account. Merchant account fees can include a setup charge, monthly/annual fees and per charge fees (typically a percentage of customer purchases). Merchant account fees can vary widely by financial institution, so it pays to shop around if you are looking for a merchant account. If you are looking to make sales online, make sure that your merchant account provider has the capability to handle Internet transactions.