A chargeback is just that. It’s when a customer wants to get a charge back, also known as a refund. Normally, a refund would not be something to worry about. But if you get above a 2% chargeback amount, the nerves of the merchant servicer begin to quiver. If you didn’t know, the merchant account servicer is responsible for the refund amounts if you go out of business and don’t cover your chargebacks. It’s no wonder It’s no wonder that merchant account servicers are so nervous about a chargeback. So, plan ahead and take charge if someone is not happy […]

When the country fell apart with the housing market, unless you came into a bank or credit union with unwavering credentials and a credit report about 700, you were not going to get the financing that you needed. Your desperate cries were heard Merchant account servicers heard your cries for help. A lot went unheard until they got a little organized. Some were taking advantage and groups were formed to prevent this from being legalized stealing. With the watch group in place, plans were initiated and a great way to get a business cash advance came into fruition. It’s a […]

Just like a lot of other accounts in the merchant arena, if you plan on accepting credit or debit cards, you are going to need a merchant account. Don’t panic when you are told that you could be high risk, because a lot of day to day services are in that same pool. It does not mean that you personally are high risk; it means your services are. So, don’t take it to heart, just do some more research so you understand why. Getting your merchant account Having a merchant account does several things for your business. First and foremost, […]

If a chargeback has made its way into your system, as a merchant you have five to seven days to get back to the merchant account servicer. At all costs, you need to have this done. As a busy merchant, you may think it a most inconvenient thing to happen, but it is also your responsibility to answer to this. By avoiding it, you set yourself up for the loss of your merchant account. Let’s start at the beginning A customer has requested a chargeback. The first thing you need to do is verify that indeed, that customer made a […]

PayPal announced that they are  offering a new service to its  consistent customers. In a matter of  minutes customers service representatives can answer the  questions that inquiring minds want  to know. Does their business qualify  for the new ‘Pay Pal Working  Capital’? And really, this is not a new  idea. Merchant account servicers  like firstamericanmerchant.com  have been doing this for some years. How it works  This idea is not new to the payment  processing industry, but PayPal is  opting to bring it into the light  through their venue. They require that you pay a ten percent rate on the money […]

There are a few things that you need to have when  you start your smoke shop. Your online service  will need to cover many things before you can get  started. You will need a merchant account and if  you decide that you should sell those electronic  cigarettes, then you will have to have an  electronic cigarette merchant account. This gives  you all sorts of options to share with your  customers and make sales worldwide. Of course,  you also need to know the laws in some countries,  and how to walk through the legalities of selling to  those that might not […]

It is no surprise that banks and credit unions have tightened      their requirement for loans the past few years, especially when  it comes to businesses regarded as high risk. Every business  owner needs working capital in order to start-up, expand or  maintain their company until it generates a positive cash flow.   Banks traditionally use credit histories and credit scores to  determine the level of risk associated with a business. So if you  have a high credit score acquiring a loan is fairly easy, but if  you are a business owner with poor individual credit, it is  inevitable that […]

Whether it is a small eatery, a catering truck or a large chain of restaurants, opening and running a  successful restaurant can be a very rewarding yet challenging task. From picking the perfect location and  creating a distinct ambiance to the recruitment of the right staff and the conception of a savory menu, an  extravagant amount of time and dedication goes into serving people. In a recent industry survey of  restaurant owners, although many restaurant operators continue to do well, only 38 percent described  their financial situation as ‘good to excellent.’ And if you are a restaurant owner, chances are […]