With thousands of credit card processing companies on the Internet, it can be hard to find one that is reputable, honest and affordable. Instead of signing up with the first processor that shows up in a search result, research should be done ahead of time. One of the most important things that a business owner should pay close attention to are the reviews — and here’s why:
Customer Service — Can a Business Make Contact?
We all know that customer service is everything in the business world. If a credit card processing company is impossible to get in touch with, this could be harmful for a business. For example, if the credit card terminal were to go down during a busy point in the day and the company couldn’t be contacted, the business wouldn’t be able to accept any credit cards. A good company should have many contact methods and a 24/7 customer service hotline.
Hidden Fees — Beware!
Aside from the basic credit card transaction fees, some merchant accounts are sneaky with their hidden fees. While they may outline it in the contract, some businesses may overlook it or not know about it. Usually, inside most reviews, many disgruntled business owners will vent about the fees they may have paid without realizing it. A good company should outline their fees in an easy-to-read way in their contract and on each monthly statement. As a habit, review any contract before signing any sort of deal.
Payments — On Time?
Since a business is working with a “middleman,” the money won’t show up in a bank account instantly. Depending on the processor, some companies can have the money inside a bank account within 24 hours, while other companies may take days. Read the reviews closely to see how long it took other businesses to receive their money. On average, most merchant accounts should the money transferred within three days.
All credit card processing companies aren’t created equally. In terms of software, some accounts may be compatible with a shopping cart online, while others won’t be. In most reviews, business owners will often vent if their particular software doesn’t work with their website. Be sure to pay close attention to see what is compatible and what isn’t.
Any business owner can learn a lot from online reviews. When reading any review online, be sure to look for these key four points to find the best credit card processor for a business.