Tips To Lower Your Merchant Account Fees

Just as with anything else you need to be a smart shopper to get the best rate when it comes to opening a merchant account. There are various types of merchant accounts offered by different merchant banks and online merchant banks or online payment providers such as Solid Trust Pay. Paying attention to certain factors and acting on them will guarantee to lower your merchant account fees considerably. These a few things you could do to lower your fees:

Compare types of accounts

Compare the types of accounts offered by several merchant banks. Each institution will offer different types of accounts with various features. Find an account that will have the combination best suited to your needs, such as the minimal withdrawal amount, how fast your funds can be withdrawn, the basis on which fees are charged, chargeback protection and other such facts.

This way you will be paying only for the services you need and not paying more for features that are not useful to you. Visit www.solidtrustpay.com to find out the various options they offer.

Compare prices

Get a list of fees charged by each merchant bank and you can select the most economical option. Make sure to ask for all the fees that are involved like start up fees, any recurrent fees, minimum fees and everything else. At Solid Trust Pay you are guaranteed to find the best rates for merchant accounts along with the many features that will meet your needs.

Chargeback fees

If you are operating an online business the chances are that you will have a high rate of chargebacks, therefore find out specifically about chargeback fees and whether or not you will be provided with chargeback protection like that offered by Solidtrustpay.

The best way to reduce chargeback fees is to reduce the incidences of chargebacks. By using Address Verification Systems to make sure that the billing address and the delivery address are the same you can reduce the number of chargebacks on the grounds that the goods were not delivered to the right address and therefore the buyer never received them.

Is it a tiered fee structure or a single fee structure?

A tiered structure will charge more from online transactions than a point of sale card present transaction. With a single fee structure you will charge the same rate for both types of transactions. So if your business does more card present transactions you will be paying more for a single fee account whereas a tiered structure is more suited to a business doing equal numbers of both types of sales. Visit www.solidtrustpay.com to find out more about their fee structures.

Some merchant bank service providers give you added benefits like Solidtrustpay permitting clients to advertise their business for free on their member Message Center.

It is possible to avoid unnecessary expenses on your merchant account and at www.solidtrustpay.com you can choose a merchant account to suit your purpose at the best rates.