Wednesday, October 24, 2007
Merchant accounts to accept credit cards
One of the first shocks that you get when you start your own business is the extra cost of business accounts. Whilst the list of charges for personal accounts is usually fairly short, there seem to be untold numbers of things that banks feel the need to charge you for as a business.? Now, you would sort-of expect that they would charge you if you?re depositing large amounts of cash in that there?s obviously work involved in handling it. You probably also know that they charge a percentage of your credit card sales too and that there?d be a charge for the credit card terminal too. But setting up the terminal? Providing the software for it? Surely not?? Well, if you plan on taking everything from your own bank, yes, you probably will be charged for setting up the terminal and you probably will be charged for the software required to run the thing too (anything up to $500). Not only that, but try accepting card payments online and you?re potentially talking another $500 for the
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