Questions,Ask,Potential,Intern ecommerce 7 Questions to Ask A Potential Internet Merchant Account Pro

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Recently, I went looking for an Internet Merchant Account.My mission was two-fold:1. Open an account for myself and2. Research options for my new ecommerce information siteTake-Payments-Online.com.After some research, I thought I'd found an attractiveMerchant Account offered through a reputable reseller. As itturns out, I learned the hard way that I was wrong.Fortunately, my experience can help you avoid the same trap.Based on my own experience, I developed a list of questionsto ask a potential merchant account provider. Understandingthe answers to these questions before signing an applicationor agreement will help make for a solid partnership betweenyou and your account provider.But first, the story:My Internet Merchant Account ExperienceI found what looked to be a competitive Merchant Accountoffered through a program at a popular reseller. Fees weresummarized on the reseller's site and applying was simple. Ipaid an $89 set-up fee, which took me to an onlineapplication I was required to submit to get the processgoing.That's when things got interesting. Submitting anapplication meant agreeing to a previously undisclosed 45page merchant agreement. An unmentioned termination fee wasburied on page 11.If I ever cancelled the account, I'd be hit with a $295termination fee. I knew from my research that the largetermination fee was not competitive with other merchantaccounts and other aspects of the account were notattractive enough to compensate.Suddenly, this merchant account was not such a good deal.More critically, however, the termination fee was notdisclosed before I was required to pay for set-up. Iimmediately asked for a refund.Non-RefundableThen things got even more interesting. I was told the $89fee was non-refundable. I'd seen a footnote that the fee wasnon-refundable, but interpreted it to mean only if theyactually did some work and processed an application. I hadnot completed an application and did not intend to afterlearning of the extra $295.Using the email support system so I would have documentedproof if I needed it, I insisted on a refund. Still no go.When I explained there had been no set-up to justify a 'set-up' fee, they responded that the fee was really an'application' fee - non-refundable, as explained in thefootnote on the order page.Basically, they were telling me I'd paid $89 for a link toan online application, which I had not and did not intend tosubmit.Finally, A RefundI explained I would not take no for an answer. If wecouldn't work this out I'd report them to the BetterBusiness Bureau for undisclosed fees, file a complaint withmy credit card company, and copy the company president oneach. My complaint was sent to the next level.Finally, after an additional three day wait, the refund wasapproved.Avoid An Internet Merchant Account TrapI made the mistake of taking information at face value andrelying on the reseller's good reputation in other areas.To avoid unpleasant surprises such as mine, insist on allinformation and agreements up front, before committing tothe account or paying initial fees.Having all of the documentation may not be enough. Be sureyou understand all aspects of your Internet Merchant Accountagreement as well as fees and equipment required.If you find incomplete, unclear, or conflicting information,ask questions.If your sales representative is more interested in gettingyour signature than helping you understand your commitments,ask for another representative or go elsewhere. There aremany, many Internet merchant account options available. Youneed not be trapped into one that is uncomfortable for you.Based on my own experience, I developed a list of sevenmulti-part questions to ask a potential merchant accountprovider. Before contacting a provider about fees andagreement details, you may also want to familiarize yourselfwith all of the potential fees associated with an InternetMerchant Account. There is a list here, about half way downthe page:http://www.take-payments-online.com/InternetMerchantAccount.html7 Questions to AskUnderstanding the answers to these questions before signingan application or agreement will help make for a solidpartnership between you and your account provider:1. Can I accept credit cards both online and offline?Do I need to get separate authorizations or permissions whensetting up my account for different types of transaction(Internet, retail, phone orders, etc.)?What other additional fees are involved if I accept bothonline and offline credit card charges?2. Can I accept online payments using methods other thanMastercard and Visa (Discover, American Express, Diner'sClub, online checks, debit cards, etc.)?If so, what are the fees and do I need to do anything to"activate" those payment methods?3. What are the different discount rates and fees fordifferent types of charges (Internet, in person, telephone,mail, etc.)?4. What are the other fees related to this account - yearly,set-up, application, monthly minimum, statement, support,cancellation, discount, per-transaction, gateway accessfees, card reject fee?Are these subject to change?Are there any other fees?5. Do I process charges manually or automatically?If manually, is it possible to get automatic processing?If so, do you provide a secure online payment gateway?How do I do it and what extra charges will I pay?6. What other software and services do I need to becomefully ecommerce enabled online (such as secure gatewayprovider, etc.)?Do you have a list of compatible or preferred providers?7. Do I need additional hardware or software?If so, what is the cost and how do I get it?Ask these questions and establishing a mutually comfortablerelationship with your Internet Merchant Account providerfrom the start. It will help you avoid "traps" and lay thegroundwork for a long, solid partnership. Article Tags: Internet Merchant Account, Merchant Account Provider, Internet Merchant, Merchant Account, Account Provider, These Questions