Increase Sales! Why You Should Accept Credit Cards
There are many hurdles small business owners must clear when running a small company. Besides dealing with major competitors, being bought out, going bankrupt, and making a profit they somehow must also deal with banks. Many small business owners avoid involving any banks in their transactions. But they are missing out on the various advantages of credit card processing and having a merchant account set up for their small business.
There are many steps a small business owner must complete before they are granted a merchant account. First you must get in contact with your local bank and ask to speak to a representative. They will inform you on whether or not that particular bank offers merchant accounts to small businesses. If you are not accepted by the bank you can easily get a merchant account from a third party provider. These organizations offer similar services at fair prices.
After speaking with a bank representative and if they inform you that you are being considered for an account you must then present your work space. The bank will need to verify that you are conducting business, so they will send a bank staff member to observe your office space.
You may have to submit paperwork to a company considering giving you a merchant account as well. This is to verify that are you are real business making a profit or losing money. The bank will want a copy of your tax return from the previous year as well as complete access to your bank account to deposit or withdraw funds from your account.
Normally banks charge 2-3% tax on your transactions. Keep your options open and shop around until you find a company who you feel charges an adequate amount. 2-3% is the standard fee but be very wary of any company that says they will charge anything higher than 5%.
With a merchant account you are able to charge a customer or consumer who wishes to pay for a service or item with a debit card. With the ease of such services as online banking, direct depositing paychecks, and ATM machines people are less likely to carry around cash. They are more inclined to charge things or pay for them with their bank card.
Not being able to accept debit cards can severely harm a business. With so many businesses accepting bank cards and the decline of carrying cash people are incline to walk out of a business after finding out they dont accept debit cards. As a business you are reliant on customers you want to welcome them and ensure their continued service, not drive them away.
There is no reason to not start a merchant account with your local bank. Your company will thrive with all the customers you are acquiring with the new technology. Guaranteeing youll stay in business for a long time. - 23208
There are many steps a small business owner must complete before they are granted a merchant account. First you must get in contact with your local bank and ask to speak to a representative. They will inform you on whether or not that particular bank offers merchant accounts to small businesses. If you are not accepted by the bank you can easily get a merchant account from a third party provider. These organizations offer similar services at fair prices.
After speaking with a bank representative and if they inform you that you are being considered for an account you must then present your work space. The bank will need to verify that you are conducting business, so they will send a bank staff member to observe your office space.
You may have to submit paperwork to a company considering giving you a merchant account as well. This is to verify that are you are real business making a profit or losing money. The bank will want a copy of your tax return from the previous year as well as complete access to your bank account to deposit or withdraw funds from your account.
Normally banks charge 2-3% tax on your transactions. Keep your options open and shop around until you find a company who you feel charges an adequate amount. 2-3% is the standard fee but be very wary of any company that says they will charge anything higher than 5%.
With a merchant account you are able to charge a customer or consumer who wishes to pay for a service or item with a debit card. With the ease of such services as online banking, direct depositing paychecks, and ATM machines people are less likely to carry around cash. They are more inclined to charge things or pay for them with their bank card.
Not being able to accept debit cards can severely harm a business. With so many businesses accepting bank cards and the decline of carrying cash people are incline to walk out of a business after finding out they dont accept debit cards. As a business you are reliant on customers you want to welcome them and ensure their continued service, not drive them away.
There is no reason to not start a merchant account with your local bank. Your company will thrive with all the customers you are acquiring with the new technology. Guaranteeing youll stay in business for a long time. - 23208
About the Author:
This article was written by Amy D. Perry. She wrote it to show the benefits of Credit Card Processing as well as Online Credit Card Processing get both services at the best rates on the internet only at americardpayment.com
posted by X - Men @ 4:25 AM
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