When it comes to getting a merchant account for your small business, many people turn to their local banks.

And why not?

After all, your bank probably handles all your accounts, both for business and your personal accounts.

Yet, when it comes to accepting credit cards for your business there’s something your local bank may not have told you. And being left in the dark may cost your time, money and aggravation…

Bank Merchant Accounts

Let’s cut right to the chase.

The biggest problem you’ll run into when using your local bank for a merchant account is the simple fact that they don’t handle your credit card processing.

That’s right.

99% of all local banks use a “mega-processing” company (like Elavon, First Data, etc.) to “handle” your credit card processing.

So why is that a problem?

For starters, you’ll most likely pay more for your merchant account, since your bank gets a cut of your overall fees from their “corporate partner.” Yes, you guessed it. By referring you to their “preferred provider” they stand to profit from your account.

But that’s not all.

When you run into a problem – say your credit card terminal stops working – should you ask your bank for help they’ll say “we don’t handle that.” Which leaves you with an 800# to call and waiting on hold for “customer service.”

It often gets worse…

Gary, a family friend who owns an auto repair shop in Massachusetts, turned to his credit union thinking they would handle his account. So he didn’t really check the fine print when signing up, because he figured his bank “would take care of him.”

The end result?

He got stuck with a $49.95 monthly fee for a credit card terminal lease he never asked for – and it gets worse. He can’t cancel the lease for 48 months. So in the end, he’ll pay $2,397.60 for a credit card terminal that retails for roughly $250 and wholesales for around $175.

Ouch!

And contacting his credit union only got him more frustration, as they reminded him that “they don’t handle merchant accounts.”

A lot of good that does after the fact, right?

Find the Best Merchant Account Provider

For a new merchant account, simply request your free rate quotes today by clicking the link below.

And if you already have a merchant account, request a merchant account comparison from qualified providers today…

Click the link and compare free
merchant account quotes today >>>

Or you can follow the link for our directory of retail merchant account providers that can help you get set up for your State or Metro area.

Either way the choice is yours…