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Finding the best Low Rate Merchant Accounts can be very frustrating for busy business owners in today's hectic marketplace. Business owners become overwhelmed with trying to find a merchant account provider who can provide them a low rate. These low rate offers can be a smoke screen to hide other fees that off-set any savings and cost a merchant more in the long run. Business owners must look at the entire offer, to make a sound decision. Understanding key elements of the merchant account agreement will give the business owner a greater advantage when negotiating with merchant account providers and seal a great deal for there business.

Now, we will breakdown the key elements of a merchant account agreement.

Blended Rates: - Blended rates combine both "Credit Card" and "Signature Debit Cards", into a single "Qualified Rate". The industry standard is between 1.69% and 1.84%. Beware of teaser rates where you are quoted a rate, then next month they raise your rate to be closer to the industry norms.This rate structure is the standard for most merchant accounts.

Split Rate Options: - This is where the merchant has the choice of splitting the "Credit Card Rate" and the "Debit Card Rate" into two totally separate rate tiers, one rate for credit and another rate for debit. This option would lower debit card costs, but increase credit card costs. An industry standard would be 1.39 Debit and 1.94 Credit. Use caution here as this option could increase your overall cost.

Mid-Qualified Rate: - In general this is a surcharge on certain card types, such as "Rewards Cards". Standard rate is 0.40% to 0.75%. Beware, this is often overlooked by most merchants.

Non-Qualified Rate: - Another overlooked surcharge Processing Equipment other card types, such as "Business Cards", "Corporate Cards", "International Cards", or "Procurement Cards". Also in this category is keying card numbers with a swiped account and failing to attempt AVS + CVV2 fraud controls on a keyed account. Industry standards are 2.75% to 4.33%. Merchant beware.

Termination Fees - Every merchant account agreement has a "Contract Term" within the contract. Associated with this term, is a "Early Termination Fee". This fees off-set potential losses when a merchant closes their account before the contract term has expired. The standard fee averages around $295 - $395. Again, merchant beware.

Free Equipment Program's: - Free equipment programs are truly loaner programs, that require the equipment be returned to the processor, when the merchant account is closed. Equipment must be returned within 30 days, in perfect working condition, or the business owner will be charged a penalty. Usually between $495 - $895, depending on the Financial Institution agreement.

Well we given you important things to consider prior to signing up for merchant services. These facts should give you some negotiating points and some important facts to consider when trying to find the best merchant account.

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