Credit Card Processing Do’s and Don’ts Part II

The key to getting the most out of credit card processing is to avoid certain pitfalls. In this article, I will share with you a few merchant credit card processing do’s and don’ts.
Do’s of Merchant Credit Card Processing
Do gather up quotes from a few merchant service providers. Don’t base your final decision on price – consider the features and benefits the merchant account provider has to offer. Plus, you want to investigate a little and find out if it is the right company to do business with.
Do set up a seasonal merchant account if you are only open for a few months out of the year. Many businesses like tax preparation agencies, beach resorts and ski resorts are open on a seasonal basis.
Do check your statements every month and check for any kind of unusual activity.
Do get setup with the proper merchant account (i.e. ecommerce, retail, etc.).
Do offer customers other payment options such as payments by check.
Do keep all of your receipts in a safe location.
Do get set up 2-3 weeks before processing your first credit card sale.
Do pay your last bill with your credit card processing company. If you neglect paying your final bill, this could lead to collections and go on record.
Don’ts of Merchant Credit Card Processing
Don’t settle for your local bank. Most traditional banks have much higher merchant credit card processing fees.
Don’t process credit card refunds for a check or cash payment. A dishonest customer may still file for a chargeback.
Don’t process your personal credit card on your credit card machine.
Don’t email credit card numbers because email is not 100% secure.

Don’t sign up for any merchant account service offer without thoroughly investigating the company.

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The Best Merchant Account

I've spent years researching and writing about different merchant services companies. Did you know that the best credit card processing company for a retail store, may not be the best merchant account for an online ecommerce store? This is why it is important to know everything so you can make an informed decision!
Do you want to know who I think the best merchant services company is for your business? Fill out the form below: