Here are 5 things you should ask before you sign a credit card processing contract:

1. What are all of the fees, not just the rate, that apply to the account?
2. Is there a cost for next day funding?
3. Will the equipment you are recommending work with other systems?
4. Is there a minimum monthly, or inactivity, fee?
5. Why do I have to sign a contract?

In an ever changing world, is a contract necessary? If someone is providing a great service, consistently delivering on their promises, with a great total cost of processing – won’t they choose to stay on their own accord?

If you are thinking about a change, make sure the company you’re considering can provide you with a total cost of services based on your company’s past processing history. If you don’t have credit card processing now, don’t agree to a long term, or even a short term contract, until you know more about your merchant services volume.

Of course, there are many more things to think about, but these are just a few.
~ Mary Ann

PS We never require a contract, have no termination costs and we are upfront with our fees.