Any merchant in search of a credit card processing
account should expect that merchant service agreements carry
contracts and early termination fees. In general, the average
credit card processing contract is typically 3 years, and
the average early termination fee starts around $350.
The problem here is that these fees often aren’t
disclosed to the potential merchant. If you are in a perfectly
good structured contract, with the full disclosure
you’d expect, this isn’t an issue. If however,
you have signed a contract with what you later determine was
deceptive, you’ll be stuck.
This is often the kind of deception that credit
card processors use as their insurance policy against having
a merchant leave their company. Merchant Account Contracts
are standard and you’ll certainly be signing something.
Do they claim the contract is month to month? If so, keep
reading and make sure you aren’t falling into the “Creative
Processing” or “Hidden
Fees” related marketing strategies detailed later
in this guide.
Just be educated in regard to the practices,
review the Merchant Agreement contract thoroughly, and be
prepared to ask some questions. You’ll likely be just
fine. If you see a deal that is likely too good to be true,
we’ll even review a competitors contract and let you
know what to watch out for. Few things in this business seem
to surprise us these days.
For more information about 1st National Processing,
Mobile Solutions, Merchant Accounts, Credit Card Machines, Supplies,
and Gift Card Programs, please visit our website at http://www.1nbcard.com,
or give us call toll free to talk to an account