Finance

How to Open a Merchant Account

How to Open a Merchant Account

The new business you’ve been working so hard to get started is finally about to open. With the many finishing touches that require your attention, it’s hard to keep your focus on what’s most important. One thing you don’t want to forget is to open a merchant account to accept credit/debit cards and electronic payments. Consumers make more than 50% of their payments with credit and debit cards, so getting acceptance up and running is a front-burner item. It’s important to know that major banks are not usually the best choice when you open a merchant account, because they often charge high fees and require you to rent their equipment. That’s why so many businesses are turning to online banks to provide modern merchant accounts with low prices and excellent service. Bildlerlings is the most trusted online bank you can use to open a merchant account.

What’s A Merchant Account?

Most businesses have a bank account that they use to write checks for their expenses and to deposit checks that they receive from customers and other sources. These accounts have their purpose, but something else is needed for businesses to accept credit/debit cards and other electronic forms of payment. In the 20th century, most businesses that accepted credit/debit cards had to open a merchant account with their brick and mortar bank. Banks charged businesses a monthly fee, plus commission on each transaction, and often required companies to rent the bank’s hardware and software to utilize the account. Now there are many better choices with options that are narrowly tailored to suit the specific types of businesses, large and small. The best online banks offer a wide range of pricing options to choose from, including a choice between monthly and per-transaction pricing. It can take weeks to activate a merchant account with a large bank, whereas accounts with dedicated online banks can be ready to use quickly. That’s why so many businesses are choosing Bilderlings to open their merchant accounts.

What Should I Consider Before I Open a Merchant Account?

Like any other important decision, it’s beneficial to carefully consider your needs. In order to make the best choices when you open a merchant account, you should consider the following:

  • Do you need to accept payments over the internet?
  • Will you be offering subscription services?
  • What is your fraud protection plan?
  • What type of terminal would you like to use for in-person payments?

Once you know what you want and need, you can make better decisions about the features you choose when you open your merchant account.

What Do I Need To Do To Open A Merchant Account?

Bilderlings provide the most streamlined approach to opening a merchant account, with a single registration for all of their products. There’s a fast track towards having a merchant account to accept credit/debit and electronic payments in 21 countries, and a slightly longer process for the ability to accept payments in every country in the World. 

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