Important Questions to Ask When Opening a New Merchant Account

A merchant account in very simple words is an arrangement between a merchant and a bank that allows the former to accept credit card payments from his customers. Most businesses looking for expansion and improving their reach look for a merchant account that suits their needs the best. Before a merchant signs up for a new account, he needs to ask the following questions.
1. Be Able To Do both ACH and Credit Card Payments
When looking for a High risk merchant account provider, the merchant should look for one that offers the dual options of processing credit card payments and e-checks. These payments are collectively called as ACH payments. The merchant is able to procure the payment directly from the bank by this option.

2. Check About The Security
The merchant must ask the high risk merchant account provider about the levels of protection that will be offered to him. All intricate details about keeping the customer information safe should be taken.
3. Have Complete Clarity on the Actual Cost
Most high risk merchants dread the idea of going through each and every word of the agreement document, and prefer taking the word of the salesman. This mistake sometimes costs them, dearly. They should go through every detail carefully and only sign when they know what they are getting into.
Ask these questions when you evaluate a low or high risk merchant account service provider and you will not have to regret at a later date!