| We are all familiar with credit card fraud and as a | | | | prove worth it rather than turning over all that vital data |
| merchant that can be stuck holding the bill, you need to | | | | to an unknown entity online. |
| be extra careful. The first place to be cautious is long | | | | If you are looking to save money on your online |
| before you take your first customers electronic | | | | transactions you might be surprised at the rates |
| payment. When setting up your online credit card | | | | traditional merchant services companies can offer. |
| processing account make sure to avoid scams. | | | | Just because a service is found and offered on the |
| Review your choices as carefully as you would | | | | net does not always make it cheaper or a better deal. |
| opening any bank account for your business. | | | | When applying for a merchant account you may be |
| While opening a online merchant account you may be | | | | required to have some information ready for your |
| required to disclose both business and your personal | | | | application. |
| financial information. Under the current credit crunch | | | | These things might include: |
| we are experiencing, more personal information will be | | | | * A business tax I.D. number and or your social |
| required from owners and officers of companies and | | | | security number. |
| corporations to obtain all kinds of credit including | | | | * Specifics about the business; name, address, time in |
| merchant accounts and online card processing. | | | | operation. |
| Keeping these security issues in mind, completing a | | | | * Annual business done and how many dollars of that |
| merchant account application online may not be as | | | | would be credit card. |
| safe as a local back or credit card agency. Keeping | | | | * A current bank statement. |
| your own information safe is the first step in avoiding | | | | * And if you already process credit cards, a copy of |
| credit card fraud and possible personal identity theft. | | | | your current statements showing volume and charge |
| If possible, going into a brick and mortar bank may | | | | back history. |
| offer you greater protection. Banks help keep | | | | Remember, most of the traditional bank credit card |
| information safe by using extensive ant-fraud | | | | merchant account departments have many customers |
| software and procedures. | | | | like you who do business online and offer |
| While banks may charge a small application fee that | | | | pre-programed and tested solutions for you to do so |
| web based merchant accounts might waive in order | | | | safely and effectively. |
| to attract your business, the extra expense may | | | | |