Sunday, August 2, 2009

7 Questions You Should Ask Any Processor Before & After Sign Up


7 Questions You Should Ask Any Processor Before & After Sign Up

Weather you just starting out or have been around for a while Merchant Services Brokers is the right fit for you....with our customized programs. 99% of the time we will save YOU 30% - 50% on your merchant fees.

  1. Are you the sales rep or the owner of the company?
    • The reason you ask this is because if they are just a sales rep they will most likely be gone when you have a problem.
  2. Is the rate you are offering subject to change for any reason?
    • The reason you ask this question is because I have many programs where the rate they offer you is just an introductory rate and will change is you do not reach a certain level of processing.
  3. When Visa Does the Global Rate Increase that happens 2-3 Times A Year does your company do a pass-through on the rate increase?
    • 99.9% Of Processor Use That Time To Add More Hidden Fees, this is an important question because if you don't have a company looking out for your best interest than you will pay the extra later.
  4. Do you have any control over the fees I am charged either now or in the future?
    • This is important because if he/she is a sale rep for the processor once they sign you up the processor can do whatever they want.
  5. Are You Paying A Merchant Club Fee, Compliance Fee, Or Any Other Fee That Wasn't Disclosed To You When You Set Up Your Merchant Account?
    • I have seen this happen before where a processor wants to make some extra money they will charge a "Compliance Fee" for one month and everyone that asks for a refund gets one, but the ones that don't, well extra money for the Processor.....I don't know about you, but where I come from that is stealing.....
  6. If the sale rep offers you or You are already receiving FREE Paper or FREE Ribbons? Then You Are Being OVERCHARGED by 30% - 50% On Your Merchant Fees!!
    • It is simple the money has to come from somewhere.
  7. Have You Ever Had Your Money Held Up Because You Had TOO Many Sales?
    • That is why we are caller Merchant Services Brokers because we not only BROKER you a great deal meaning I didn't just work for one Processor I have contract with many, we also customized a program what works with your business.
  • 2 Bonus Questions
  1. Have You Ever Had a Fee Show Up on Your Merchant Statement After You Signed The Contract?
    • You were not only lied to, but you are being overcharged.
  2. What are all of your rates and fees?

If a processors quotes you a rate before they ask how you are going to process (i.e. swiped, orders over the phone, internet website) they are only giving you a half truth meaning there will be more fees than just 1.59%, you can trust me on that one.

Well thank you for time the time,

And thanks for considering me as your Merchant Broker. My true heart is for your business to be a success and I want to come along side you and help you grow even if you choose another processor I will be happy to answer any questions you might have.


Phil Herrington
"The Credit Card Guy"
1-877-500-PHIL (7445)
Merchant Services Brokers

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