11/04/2014
How long does a merchant account setup take?
A merchant account setup can take as little as a few days, or possibly several weeks.
You can do your part in making the merchant account setup process as quick and as painless as possible by keeping your paperwork and files organized. During the setup process, you will be asked for a lot of information, so I must emphasize that you have everything you think you'll need on hand! Once your paperwork is processed, the bank or financial institution will run checks on you, your credit and your business. Once they are assured that you are of an acceptable risk, and not an unacceptable one, your application will be approved, and you will be up and running with credit card processing in no time.
What all does a merchant account setup involve?
During the initial application, you will need to provide some basic information.
This information includes your name and info (this includes a valid driver's license and your social security card/number), your credit history, your tax info, and then a lot of information about your business: what type of business you have, annual or even monthly profits, its location, and any applicable licenses and tax forms associated with it. Once all of this is in hand, the processor for the merchant account setup will go through everything, and then work on getting you matched with a type of merchant account that meshes well with your business type and your own needs.
How much will a merchant account setup cost me?
The total cost you will incur for a merchant account setup can vary greatly.
For starters, some merchant account providers charge various initial fees, including application fees, setup fees, installation fees and programming fees. Other merchant account providers don't charge anything for a merchant account setup. And those that do charge fees can have differently scaled fees, depending on the type of merchant account being provided, the type of business it is going for, or your own personal financial and/or credit history. Before committing to paying certain fees, shop around and make sure you're not being hit with unnecessary ones!
How can I expedite the process of a merchant account setup?
As mentioned above, in answer to the first question, you can help move things along a little faster by being your own secretary with your files and papers.
Rather than hand over a manila folder with papers, photocopies and post-it notes, organize and label everything. Use paper clips and small post-it notes to keep related items together, and sort things alphabetically, chronologically, or by importance! The person or persons handling your merchant account setup will not only appreciate you making their work load a little easier, but they will be able to go through everything quicker, which means you may have your merchant account setup completed sooner!
http://merchant-accounts-setup.com/
