Choosing a card acceptance account

Acquiring banks offer a variety of card acceptance accounts to suit different merchants.

Before you sign a contract with an acquiring bank, ask yourself the following questions:

How well do I know the financial institution I’m thinking of doing business with?
Do I deal directly with the financial institution or through a third party?
What are the typical fees for card processing? Research per-item fees, discounted fees by volume, statement fees, chargeback processing fees and so on
Should I buy, rent or lease point-of-sale equipment? Consider upfront costs, arrangements for repairing or replacing broken equipment, and whether obsolete hardware can easily be upgraded
How many days will pass between a customer making a purchase and the funds reaching my account?
How often will funds be credited to my account?
Where can I turn for support in the event of a settlement query or customer dispute?
What support is available for queries about terminal malfunctions, repairs or upgrades?
What training support is available?
What signage, marketing and promotional material are available?