Why You Should Stay Away From Discount Merchant Account Providers

by Jun 5, 2014General Merchant Account

There’s really only two reasons you would shop at buyerzone.com or another cheap merchant account provider site like this:

  1. Lack of options – you don’t know who else to call or talk to so you’ll just put the word out there and see what each company comes back with
  2. You are a rate shopper – you are only interested in the lowest rate and NOTHING else

Both are dangerous places to be.

If you fall into either of those two scenarios, you might want to consider going about it a different way.


The “blind bid” fluke

If you go fishing for a fluke, you might just find one.

You know that saying right?

Well, unfortunately the fluke here will be finding a reliable processor from these sources because of the way it’s all set up.

Think about what happens when you submit your information to a company that shops it out to multiple providers.

The person or computer that returns a quote to you doesn’t know your business OR what you are looking for unless you are VERY specific in your request.

Even then, what about the questions you don’t know to ask?

They cannot ask you questions or offer you suggestions and tips that might make MORE sense than the options you thought were available to you. Additionally, they don’t always tell you about all the options. They just blindly give you want you want completely neglecting the possibility of better options.


Start with simple questions

Before you just fill out a bid application to see what kind of rates and fees you can be approved for, think about what is important to you when operating your merchant account.

If you haven’t given this any thought, check out the 7 questions list by clicking here. 

In that article I talk about 7 of the most important things you should be concerned with when opening a new merchant account.

All of them are derived from questions that business owners (just like you) have brought to my attention AFTER getting screwed by a provider that didn’t take the time to set them up with an account that was in THEIR favor.

They didn’t ask questions about transaction limits, terminal upgrades or ANYTHING about PCI Compliance. 

Learn from those who have paved the path before you and go about it the smart and efficient way. The effective cost merchant account provider will come if you lay the foundation first for what you want it to look like.


Here’s your chance to stop the cycle

Do yourself a favor and eliminate, or at very least, reduce the possibility of falling into the cycle of change. 

If you want to know if you’re getting a fair deal there is a much easier way to go about it than to use the rate shopper options like buyerzone.com.

If you are stuck on what to do next check out our merchant account 101 that will get your started down the right path.


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