Identifying a Safe Credit Merchant Account Provider
One of the major inconveniences of possessing a Credit Card is that, you will be charged higher rates for withdrawing cash via ATM. For example, Visa charges a massive 10% withdrawal charge for cashing out your balance via ATM. People then started selling Merchant Account services. In simple words, when you have your card swiped, the service provider will pay you discounted cash .This violates the rules set by the principal credit card companies. So if you have another option available it’s better to use that.
A credit merchant account providers charges you with a normal transaction fee + “illegal” fee of 2-3%. Here some tips on finding a safe credit merchant account service providers:
1. You can never find these kinds of services through search engines, newspapers or any other media ads
2. Always use a word of mouth advertisement
3. The “legal” fee for using Credit Merchant Account services is 10%. You will be charged the default transaction cost of 2-4%, so if the “illegal” fee is more than 6%, simply forget it. It’s not worth your attention
4. Always put extra attention on the credit merchant account identity. If possible ask for a copy of their ID
5. Pay some attention to your billing. If in the future there is a fraud transaction from this EDC, first thing you have to do is contact the banks that issued your card, they’ll apply some safety measures to prevent further loss
