Lead Generation Websites

Lead generation companies are everywhere on search engines disguised as Comparison websites. They don’t compare, they simply take your enquiry details and sell them to many card payment providers. So don’t leave your details on these websites or else your phone will be bombarded by call centres trained to push their own products.

“Lowest Rates” Claims

Beware of the headline “lowest rates guaranteed” claim. This can hide a multitude of costs hidden in the rest of the contract. We are familiar with how many of the leading UK card providers work, the card rates, their after sales service and the detail of their contracts.

Avoid High Street Banks

It may seem the obvious route for a merchant account but High street banks are not Merchant banks, and will simply pass on your enquiry to their partnered acquiring bank. This route is not recommended  as the quotes are usually far from competitive. You should not choose them simply because you bank with them.

The “small print”

Remember you are dealing with banks so there’s no shortage of terms and conditions and a lot of “gobbledy gook.” We read the small print to highlight any unfair additional fees or penalties. It’s too late once you have signed the contract so let us independently advise on any potential pitfalls that may affect you.

Agents’ Commissions

Some companies operate commission structures that reward self-employed sales agents with bigger commissions for charging higher rates. If you sign with them, its unlikely they will be able to offer you any comprehensive back up support, should you need it.

Monthly Service Charges

All merchant accounts generally have a minimum monthly service fee. For merchants who only need to take the occasional card payment, this can add 25% to the cost of their monthly merchant services. Pay as you go may for smaller merchants be a better route to take even though the rates may be higher.