What is a Merchant Account Rates, Pricing, Terminals and how it works
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- เผยแพร่เมื่อ 15 มิ.ย. 2024
- #merchantacount #paymentprocessing #whatisamerchantaccount
What is a merchant account? In today’s video we’ll discuss the details of a merchant account and go into depth on merchant account pricing, merchant account equipment and provide references to helpful resources.
@1:25 What is a merchant account
@2:46 Credit Card Terminals
@4:11 Merchant Account Rates - 2 main rate categories
@7:41 Underwriting and Account Approval
@8:40 Faq’s and common questions about merchant accounts
@10:48 How to pick the best merchant account for your business
►Sign Up For CardConnect Merchant Account Here: www.bancardsles.com/cardpoint...
►Video reference #1 - Paypal, Stripe Square vs. Merchant Account :
• Paypal, Stripe, Square...
►Video reference #2 - Merchant Account Pricing (rates and fees):
• Merchant Account Rates...
►Best fit survey - Find out what's best for you: www.bancardsales.com/lp/best-...
★Book a call with Brian and/or his team:
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• What is a Merchant Acc...
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• What is a Merchant Acc...
Transcript:
What is a merchant account and how does it work?
Let’s talk about that today and in addition to that title content, we’ll talk about the following:
Credit card terminals Point of sale equipment and software available to you,
the 2 most popular (general) credit card rate categories that apply,
underwriting approval and account setup
guidelines tips and important things to remember when applying,
Frequently asked questions
And toward the end, I’ll tell you how to go about figuring out the best merchant account option for your business.
Put a channel notice countdown bar on this section
So as we get started, this video is time stamped for your reference.
All of the information is important and pertinent to setting up and maintaining a merchant account so please do watch the entire video and at the same time I always try to make my videos easy to navigate so for some of my videos on this channel, I’m going to link the time stamps for the various sections of the video, in the description.
So if you wanted to skip to a certain section, you can just pop the description box open and click the section link. And if you use these time stamps to navigate the video, let me know if that is a helpful thing to do in the comments below.
Now, on with the lesson.
What is a merchant account?
Let’s start with a simple definition: A merchant account is a specialized bank account that exists for the sole purpose of allowing a business to accept electronic payments through the use of credit cards and debit cards, from their customers. .
The term merchant account is often used interchangeably with terms like: “credit card processing account” or “merchant processing,” “payment processing” or “payment service provider” OR “payment aggregator” and I’ve even heard people refer to it simply as a “Merchant”… and speaking of that,
A payment aggregator account is different than a true merchant account.!
We’re going to stay focused on the merchant account in todays video so if you’re interested in comparing the aggregator companies like PayPal, Stripe and Square to merchant account providers, click the link in the description (or the card on the screen) for that detailed comparison video after you’re done watching this one.
It is hard to find this type of content online. Thank you for what you do!
Thanks Avelino. I appreacite the comment and thanks for watching too. Let me know if you have any questions.
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Thank you for breaking everything down and making it easy to understand and easy to find. Love the time stamps!
We watched this video as part of our eCommerce Master material and it's incredibly clear and comprehensive, thanks a lot!
Thank you and thanks for watching! -Brian
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Love the time stamp! Thank you for the clear explanation
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Damn, what a need, thumbs up for a very detailed video
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
this is an in depth explanation for the first time merchants !
Thanks for watching. Let me know if you have any questions. -Brian
Daposit Name EZEKE ONYEMEME MPU 900,000,000 Bank approved
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Thanks 🙏 a million you’re dope!! I do like the time stamps organizing is always the best way people love convenience and ease of use so don’t stop that. Moving in this direction so I may schedule and appointment to talk with your team about who ad where is the right direction to start off with on the bank side, software side, and proper structure for a small online business. Just a heads up. But great work nice and simple but thorough explanation for starters like myself.
Thank you for the feedback and I'm glad you liked the content.
And please do feel free to schedule a meeting when you're ready!
Thanks
-Brian
Do you have any other questions about what a merchant account is, that was not covered in this video? Let me know in the comments below! ~Brian.
yes pls, can you tell me how to do to create my own aggregator business, just like paypal in my country, regards, and thanks for the good content
I have a clover flex it was with a nother merchant but I'm not with them know more so can I switch to another merchant using my old clover flex
Do merchant accounts procces monthly payments or is that a separate service entirely
How to purchase merchant pos
Thanks! This is excellent information.
Great explanation! Very clear and concise.
Glad it was helpful!
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Finally got some insight on how this works
so much clearly present, really thanks!
thank you and thanks for watching!
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Very nice video. A lot of great info!
Thank you and thanks for watching!
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Excellent. Very well articulated.
Thanks and thank you for watching! -Brian
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
I liked! Thank you very much!
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Thank you for the information. It is very useful.
Glad it was helpful!
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Thank you so much for this type os content
You're welcome and thanks for watching !
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
This is very helpful.
Great video - thank you!
Thank you and thanks for watching !
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
The video was informative. I need to book a phone call regarding to good advice on managing the cash advance
Hey Jason. Thanks for warching.
You can book with me here: Www.bancardsales.com/call
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Great info. Thanks for posting.
Thank you!
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
So Helpful thanks for the video
Thank you and thanks for watching!
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
What would be the best merchant account? I’m a personal trainer. My transactions are typically higher, anywhere from $300-$900 and typically I’ll have clients pay for the year and it’ll end up being $4,000-$8,000. But this is rare. I also have fewer transactions since I’m selling a higher priced service
Whats your total volume? (Year/month)
Are there any down months where you would not have any transactions to run?
Do you have equipment needs? Software needs? (I.e. how are you processing the payment )
All these questions and a couple more are the types of things I'll cover with you on a strategy call.
Www.bancardsales.com/call
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Great content! The terminals used in these payments systems, what are available options for those?
Sami, thanks for watching. If you'd like to discuss specific terminal options, you can schedule with us for a free consultation: Www.bancardsales.com/call/Brian
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Such a informative.
Glad you liked it and thanks for watching! -Brian
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
Great insight 👍
Glad it was helpful!
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Great video, what is the your rate for scheduling a call ?
Jay, the consultations are offered free.
No obligation: schedule with me here-- Www.bancardsales.com/call/Brian
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Well done 👏
Thank you 😁
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Great video.
Thanks!
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
My question is why would you need to give your social security number when they have your EIN number or tax identifying number. The big companies don't have to give their personal social security number they give their tax ID number or EIN number to set up an account
What solution would you suggest for new online business owners to start with other than a merchant account ? I've seen Paypal as an option, but is there an alternative if you don't want to use them either ?
2 months have passed and you have not received an answer. How rude !
Jasmine, there's always links in the description of my videos that will allow you to schedule a call with our team. If you are still using PayPal now, there's a video coming out next week that shows you when and how to upgrade to a merchant account. If you have other questions, feel free to reach out: www.bancardsales.com/call
Stripe
Daposit Name EZEKE ONYEMEME MPU $790,000 Bank approved
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
I sent you a mail regarding support required for payment solutions but the mail is not able to go through shows it is a spam
Your website doesn't allow me to book meeting too.
If you help me out it would be great
Great information...thank you!
You're welcome and thanks for watching!
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
Can you make a video on how to be a middle man in merchant services?
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Is it necessary to have a merchant account if i run an online store or its okay to not have one if I have a good payment gateway provider?
Hey, I work with a company that allows you to stop paying fees all together, is that something you're still interested in doing?
Can I send funds out to customers, employees using my merchant account and if yes do your team help in setting up a merchant account?
Around minute 7:40 or a bit after he says how to book a call with him or his staff.
Yes we set up merchant accounts, but sending funds OUT instead of receiving payments is not really what a merchant account is for. Sounds like you need an ACH program that allows for payroll type payments.
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
I work from home , my clients sometimes want to pay with card , how would I go about the application for merchant account?
Thanks for watching. You can click here to apply. It will also give you a calendar link to talk to me:
Www.bancardsales.com/cardpointe/application
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
Can you apply for a Merchant account if you are doing dropshipping?
Yes. You can get a merchant account for dropshipping business.
If you want to discuss schedule with me here: Www.bancardsales.com/call/Brian
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
Does merchant account brings profit
Why are many big companies still using PayPal ?
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
So is a merchant bank account better than PayPal (ansa merchant bank)
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
How can I find out which merchant account a company is using? Is this information kept in any master database?
Marty, why do you want to know? Is there something I can help clear up for you?
@@Bancardsales I have a judgment against someone who continues to operate their business while claiming they have no money. They have like 10 different P.O. boxes and UPS store mailboxes, etc. Their website said they accept all credit cards. So I need to know what entity to send the subpoena to that might have this information. That is why I am trying to find if someone has a master database on the merchant names. You seem like you know how this whole process works. If you have any suggestions, it would be greatly appreciated. Thank you
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
I’m reaching out. Are you available for a consultation? And can you work with me from the Big Island of Hawaii?
Hey Rick, yes I offer consults. you can book here: www.bancardsales.com/call/brian
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
WHy type your social security? is this even safe?
Am using shopify store and from Asia . Can i use merchant Account.? Kindly help me for that.
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're still interested in doing?
the best fit link in the description does not work
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
@@AkaAdubs Let me guess. By charging the customer??
Why would someone go with a merchant account rather than a psp?
It depends on your business. Have you seen this video? This should help you along: th-cam.com/video/eA6RUWYZ97Q/w-d-xo.html
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
🙏❤
I need a merchant in usa
👍🏻👍🏻
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
Question, can i have a square terminal with a merchant account?
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
I need help with my merchant account. are you in position in providing it?
David, I can help you out.
Reach out and schedule a call with me here: Www.bancardsales.com/call
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
What is the best payment gateway for payments under 10 usd?
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
How can I reach you?
Your effective rates seem a tad bit low, don't you think?
Hey John, I try to be accurate with my suggestions in the videos but keep in mind that they are always benchmarks and not meant to represent every business out there. There's lots of variables as I illustrate in the video so effective rates can vary.
With that, are you comparing my suggestion in the video to your effective rate that you're paying? Lmk.
Thanks for warching !
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
@@AkaAdubs No.
One of the worst worst worst merchant service provider is barclays UK, they blocked my account for just one chargeback, that also when it was customer's mistake, barclays didn't give my business any support...to make things worst they held my funds for 6 months and also black listed my business on MATCH, this way it gets very difficult to apply for any other merchant....barclays literally killed my business for just one chargeback .....do not do business with barclays they are the worst in the industry...they will not only block your account, they will also hold your funds for 6 months and also black list you on match.....they don't even deserve one star ....Useless barclays
Hey, I work with a company that allows you to stop paying card processing fees all together, is that something you're interested in doing?
How to stop doing business with Merchant POS.