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Merchant Account Fees- When it comes to internet merchant accounts there are several merchant account fees you need to know about. This merchant account fees article by Best Internet Merchant Account will explain some common merchant account fees.

Best Internet Merchant Account has been through many merchant accounts and experienced many merchant account fees headaches. Some merchant account providers won’t tell you about all their fees until you get a bill from them. However some of the best internet merchant account providers will be straight forward with you and tell you their merchant account fees. In an effort to prevent you from having the some merchant account fees headaches that Best Internet Merchant Account had, we are going to discuss some of the common merchant account fees.

The first merchant account fee that you will encounter is going to be either the application fee or set up fee. Yes some internet merchant accounts will charge an application fee. This is because they sometimes will waive another common merchant account fee. You have to be very careful about the merchant account hosts that will charge you both an application fee and set up fee. This is a scam because both fees go hand in hand. A typical application fee will be around $200.00. That isn’t set in stone though. It can depend on what type of merchant accounts you are looking at.

The second most common merchant account fee is a transaction fee. This transaction fee occurs for every transaction that is run through the merchant account. The amount of the transaction fee will vary from company to company. It can also vary based on the number of transactions that are processed each month. Transaction fees can either be a percentage of the amount that is processed or a flat fee per each transaction. That flat fee could be as low as 20 cents.

The third most common merchant account fee is the discount fee. Kind of sounds like a real estate mortgage fee but isn’t. A discount fee in the merchant account industry is similar to a transaction fee. It is a fee that is charged per sale that is processed. This is usually a flat percentage of the sale. The discount fee is different for online purchases and actual credit card purchases (credit card is physically present at the time of the purchase.) Online purchases are using slightly higher that actual credit card purchases. Either way you are looking at about 1.75%-3% for a discount fee.

The fourth most common merchant account fee is the statement fee. Now this is definitely sounding like a bank. Yes you get charged a monthly statement fee. You may ask why you get a statement from a merchant account host and the answer is that for every transaction that is completed that money goes into an account that the merchant account host runs. The host charges a statement fee to send you a detailed list of statements. Just like a lot of other companies that send out paper statements, online merchant account providers will typically waive the statement fee if you enroll in electronic statements.

The fifth and final most common merchant account fees are minimum monthly fees. This fee is associated with the number of transactions that you process each month. It is a way for the companies to guarantee that you will process a minimum number of transactions each month or pay a fee for going under that number. This fee is usually waived if you meet the minimum requirements each month.

Those are the five most common internet merchant account fees that Best Internet Merchant Account has encountered. One last tip for you…ask a lot of questions and make sure you get honest answers when asking about merchant account fees. Don’t get caught with the merchant account fees headaches!

Merchant W.H.

Charge.com

MerchantExpress