How to Protect Yourself From Hidden Fees
Once you’ve learned how to accept credit card payments online for your business, it’s essential that you also understand how your payment gateway company can make the most of the money that comes into your merchant account. One of the most important things to know is how to avoid losing money from hidden fees and penalties. Here is a list of ways that you can protect your company from losing revenue through hidden fees.
Research, Research, Research
Before you open a merchant account, it’s important to research companies and their services. Find out what they offer and the rates they charge. Look at comparison charts and evaluate their online reputations to determine which will best serve you and your company’s needs.
Read and Understand the Terms of Service Agreement
It may seem like a no-brainer, but too many people fail to read above the dotted line before signing contracts, even for something as important as your business’ merchant account. If you want to understand how to accept credit card payments online, you’ve also got to understand the terms that you are legally agreeing to.
The fees and rates associated with many merchant accounts are likely to be complicated. Be sure that you perfectly understand what charges the company will apply for chargebacks, retrievals, percentage fees, currency conversion rates, debit card or credit card fees, customer service and support fees, and other merchant service charges and transaction fees.
Talk to the Company
Starting a merchant account can be understandably confusing. Before you sign, be sure to speak with a representative from the payment gateway company through a live chat client or on the phone. You’re likely to have many questions regarding how to accept credit card payments online, the company’s fees and charges for various services, and hidden costs and fees that you might have missed or not understood in the terms of service agreement.
Speaking with someone from the company will also allow you to evaluate their level of customer service. Are they likely to help you if problems arise in the future? Does the company seem invested in their clients’ satisfaction? If your experience with a customer service representative is lacking, it’s probably better to move on to a different company that better suits your expectations.
Allied Wallet: A Payment Gateway Company You Can Trust
At Allied Wallet, we are constantly striving to provide our clients with premium customer service and affordable rates. We strive to offer merchants the lowest rates available. Our customer service representatives can be reached 24 hours a day, seven days a week through our live chat client or over the phone. If you have any questions about how to accept credit card payments online, merchant accounts, eWallet, or any of our other fine services, please do not hesitate to contact us here.