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Buyers' Guide to
Online Payment Acceptance
Chapter 3: General
Questions To Ask
In
addition to all the fees previously described,
there are several things that you should ask a
company before you take the plunge. Follow this
checklist for your convenience:
1. Can you provide me with the email
addresses/URLs of at least 5 customers
I can contact as references?
2. Are you willing to put everything in writing,
including all fees?
3. What is the name and location of the
processing bank?
4. Are you registered with Visa/MasterCard?
5. Do you provide 24/7 support over the phone?
(If so, and they should, test it out.)
6. Is a reserve account required? (If the answer
is yes, look elsewhere unless you're business is
located out of the US in which case a reserve
account will most likely be required.)
7. When will funds be available? (Look for 3 days
or less)
8. Are you a member of your local Chamber of
Commerce and/or the Better Business Bureau (BBB)?
(If they are, check to see if there are any
previous complaints or disputes on their record.)
9. Are the banks you are partnered with to issue
merchant accounts FDIC-Insured?
10. Ask if they are a member of the Electronic
Transactions Association (ETA). ETA is a trade
organization that supports fair and ethical
business practices for Independent Service
Organizations (ISO) - another name for Merchant
Account Providers.
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