It's NOT what
the salesperson says.
It's what the fine print in the CONTRACT says
that counts!

Read the Fine Print!

• What is the term of the contract? The fine print in the contract specifies the term; the number of years you are bound to that merchant service processor. You also need to pay attention to the penalties you will be responsible for in case of early termination known as early termination fees, and you should also note the procedures and requirements for non-renewal and automatic renewal .

  Typical and reasonable contract terms are 2-3 years, and typical early termination fees are $295 to $395. Be wary of contracts whose terms and early termination fees exceed those numbers. Also watch for contractual verbage that requires you to 'jump through hoops' to avoid renewal of the contract. These are dangerous signs that you are being 'low balled', are about to be gouged, and are in for a very unpleasant experience.

• Does the contract specify DAILY discounting or MONTHLY discounting. The difference can be significant. If you don't know the difference, CLICK HERE
• Does the contract specify GROSS processing or NET processing? Again, the difference can significantly affect your cost of accepting credit cards. If you don't know the difference, CLICK HERE
• Are there any Hidden Fees besides the discount rate and per item fees? To find out more about hidden fees CLICK HERE
• Reserve Accounts Contracts can vary regarding the processors policies on reserve accounts, including how and if they may implement them. Some are less favorable to the Merchant than others. Make sure you read and understand these important terms.
• Chargeback Policies Contracts may also vary regarding processor policies on cardholder chargeback issues. Some are much more stringent than others. You should be clear on these terms.