"No Contract" Processing

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.

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