Businesses often make the mistake of only looking at merchant account rates when evaluating companies that offer merchant services. This is not a good way to evaluate competitors because it does not take into account if there are termination fees, the level of customer service they offer, and the choices and requirements for POS equipment. Charge.com and Merchant Warehouse will be evaluated to show the importance of a proper evaluation of a company.

Hidden termination fees make changing merchant accounts painful. When a service has not worked out, no one wants to have to pay to get rid of it. Some merchants charge up to $1,000 for early termination. Cancelation fees are used by companies to make clients feel like they are locked into the service. Termination fees are a sign that a provider does not believe they offer a good value to their clients. Both Charge.com and Merchant Warehouse do not charge termination or early cancelation fees.

Customer service is important with a service that is vital to company’s ability to operate. The hours of availability and how support is contacted is different with every service. Business that have late or extended hours can end up not being able to get support when they need it. Charge.com has 24/7 phone support. Merchant (more…)