Merchant Account Fees & Rates
If you are planning to get a merchant account, the very first thing comes in mind is that what are the fees associated it? And after that, a merchant might think about set-up, integration, flexibility and other factors. Without wasting much of time, let we clear one thing that the Merchant Account Rates are not fixed that we can discuss here. Its depend on factor like industry type, your processing history and expected sales volume. But still, there are some fixed prices that we will discuss, and try to get merchants aware of various charges that are liable to pay when using a Merchant Service.
What Are Merchant Account Rates?
Types Of Merchant Account We Provide At affordable Rates?
- Low-Risk Merchant Account: Low-risk account is an account which can be easily approved. If your business also comes under low-risk, you will enjoy smooth onboarding.
- Offshore Merchant Account: Offshore Merchant Account means you are doing business in one country and having a merchant account provider from another country. The solution comes in need when there is no domestic solution able to provide you with a merchant account based on your requirement.
- High-Risk Merchant Account: A High-Risk Merchant Account is for businesses involved in high-risk industries like CBD Oil, Firearms or many more.
- eCheck And ACH: The solution is very popular in the US, and it also gets approved quickly with smooth onboarding. It is suitable for accepting a high-value transaction. The settlement period can vary from 24 hrs to 72 hrs based on transactional volume.
- Third-Party Merchant Accounts: The account is suitable for small business and startups. Merchants didn’t get a merchant account on their business name. Instead, they use the third-party merchant account provider to accept payment. It is a service a merchant can use instead of his own full-fledged merchant account.
What Charges Associated With A Merchant Account?
- Application Fees: The very first charge to get a merchant account is the application fee. Fortunately, we didn’t charge you anything. The application fee is free with satisfactory customer service.
- Set-up Charges: We offer zero set-up charges. But still, some of the processors may ask you for a nominal fee, try to convince them to waive off the fees.
- Transactional Charges: This is the requisite fees a merchant should be aware of. Merchant will be charged for every debit/ credit card payment acceptance. Quadrapay offers a very affordable rate, i.e. 2.9% + 30¢ for each transaction. We may even provide you with a lower fee based on your processing history and industry-type.
- Monthly/Annually Maintainance Charges: Sometimes, monthly fees can be a burden for businesses not having enough transaction or low transaction volume. So it is recommended to ask from your processor and try to negotiate it at minimum.
- Chargeback Alerts And Notification: It is an additional service which helps merchants to reduce their chargeback ratio and improve sales ratio. It is a recommending service to all the merchants because it helps you to build a good credit history.
- Rolling Reserve: It is money that a payment processor’s bank holds to overcome eventualities such as chargeback, refunds or any fraud. It can be anything from 5-10% of your weekly sales volume. It might even be lower based on your processing history and the risk involved in your business.
- Account Termination Charges: Merchants usually unaware of the termination fees and might end up paying a substantial amount for pre-mature closure. Our most of the processor partner charge you nothing for termination.