10 Reasons to Break Up with Merchant Account Provider

You may have been with your merchant account provider for years. Your account representative may be a close personal friend. You may think your bank will give you the best price and service. You may be wrong; you may be paying too much; you may deserve a better rate and better service. So when do you know when it is time to leave? Here are 10 definite reasons to make a switch; if any one of them applies to you it is time for you to move on:

1. You do not have straight pass through - if you do not have this price model it is definitely time to leave, you are paying too much for your account.

2. You have not spoken to your account executive for over six months.

3. You have never received a statement review to make sure you are paying the lowest fees.

4. Your provider does not speak to you about qualifying your transactions for the lowest rates.

5. You see “mid-qualified” or “non-qualified” categories on your merchant account statement - if you have these you certainly do not have straight pass through.

6. If you are not receiving your full rate reduction on debit card transactions.

7. If you cannot understand your merchant account statement.

8. If you have charges from multiple months on your statement.

9. If your sales volume has grown since you started with your provider but your rate has stayed the same.

10. If you have a flat rate for all your transactions - you are definitely paying too much.

If you want to test the water and see what else is available in the merchant account world go ahead and fill out the form here and I will show you how much better your merchant account provider relationship can be.

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