A Merchant Account Rate

Can your company afford to pay the going merchant account rate? That is the question you will have to answer before applying for a merchant services account with a preferred lender. Your company should be in solid financial condition, with no serious credit problems or bankruptcy history, when you are ready to apply for a merchant account. Another criterion that many lenders consider is whether your company is involved in questionable activities. Barring any negatives like these, you should be able to find a bank or another lender that will approve your application for a merchant services account. But before submitting an application, you should check all the terms associated with each offer to get the best deal for your company.

Generally, there may be several types of fees tied into a merchant services account. You can find many different offers on the Internet or even in your local business community. Some things to ask about are the application fee, if any, since some lenders require them while others do not. Another type of expense is the annual membership fee that some lenders require, although this may not kick in until the second year of your account. Other fees may include the monthly gateway cost, setup fees, maintenance or service, and more. Thoroughly scan the price list for an idea of how you will be charged for your merchant account. It’s a good idea to contact the customer service department to ask about fees that you don’t see posted. Compare all of the lender fees and services to find out how your company can get the best deal for your particular needs.

The actual merchant account rate may be dependent on the means that you choose for paying your account each month. For example, check the per-transaction rate offered by various lenders. Some may charge anywhere from 15 to 35 cents per credit transaction. Other lenders might offer a low monthly percentage rate around two percent for your merchant account credit card transactions and services. If some of the listed or unlisted fees are unclear, don’t hesitate to get in touch with the lender to ask questions and get the information you need to make an informed decision. You don’t want to sign a contract now only to find that you have problems with it later. Your merchant services account is supposed to help you, not the other way around. If you are concerned that you may not be able to keep up with expenses associated with a merchant account, this may not be the time to consider applying for one. Wait until your company’s profits are a little more established on solid ground. You will feel less pressure if other expenses are under control before taking on new ones.

Don’t rush into getting a merchant account until you have evaluated all the best offers and have found one that seems to be affordable while serving your company’s needs. Take time to find an account that works with, not against, your interests to build a solid future by offering you a reasonable merchant account rate.

Master Card Merchant Account Providers

As your company gets to grow, you may be ready to set about some credit hazards by gap an account with MasterCard merchant account providers. A merchant account will supply the agency of securing electronic equipment to upgrade your business dealings. The principal benefit is the chance to accept credit card payments from your customers. People love to shop using plastic these days, and they often will avoid businesses that make not offer this convenient bill-paying method. Brand it easy for your clients to make business with you by providing credit card payments through a low cost merchant account.

With a MasterCard merchant account, you will enjoy the agency of expanding the manner you make business. A financial investment banker can quickly O.K. your application if your company is solvent and is prepared to do timely monthly payments for this service. A MasterCard account for your business will allow you offer credit card paying options for your clients in existent clip transactions via a assortment of methods. For example, if you make business in a shop or a store, you can put in a credit card swiping unit of measurement that allows clients pay by credit at the checkout line. But if you operate business while on the move by operating a home or business bringing service, for example, you can take a wireless credit card processor with you to allow clients pay immediately. This tin save you clip and money when you avoid sending out monthly statements and trailing bad checks. You also can take along a pager that volition allow you remain in touching with employees at the home office or clients who are waiting for your arrival.

Perhaps the best manner to utilize a MasterCard merchant account is to put up a company Website, unless you already have got one, and fit it to accept credit card payments online. Your clients will love the easiness with which they can browsing your land site at any clip and pay when they are ready instead of coming in to your store during regular business hours. A Website interior designer tin work with you to make a functional, exciting mental representation of your business that can operate indefinitely in cyberspace, often without changeless support. Of course, you will need to keep technical support on an as-needed basis, although your merchant account supplier may include this as portion of the terms. Your land site should also have an electronic mail nexus so clients can get in touching with inquiries or concerns. It is of import that your land site be maintained on a regular footing to get quit of broken golf course or add new 1s that are more than relevant. You also can add the latest merchandises and terms to your land site to maintain your clients up to day of the month with company wares. An occasional discount, survey, or industry tip will maintain them coming back on a routine basis.

These are just some of the antic ways that you can advance your company beyond the usual ways. Talk to your financial investment banker about the terms and costs of a MasterCard merchant account.

Merchant Account Processing

What can merchant account processing make for your business? The most valuable service, according to many business owners, is the ability to accept credit card payments. Letting your clients pay with a plastic card rather than paper money may advance more than disbursement in your shop or at your Website, according to recent research. Consumers today often prefer the freedom of paying by credit card, which intends they don’t have got to carry around extra cash or a checkbook. They can draw out a thin card, swipe it in a second or two, and be on their way. Your clients will love the convenience of credit card payments, and they are likely to go through the word among friends and coworkers. This simple measure can assist to turn your client alkali and spread out your sales figures.

Merchant account processing is easy to get if your business is in good shape. You just need to demo that your company is not bankrupt and makes not have got a poor credit history. Then you should allow the lender see that your income is adequate for meeting the disbursals of a merchant account. Finally, convert the lender that your business makes not include questionable endeavors that tin do the investment bankers uneasy. After applying online or by mailing an application, you could have got a positive acceptance in a few years and be ready to put in equipment that volition allow you accept credit card payments.

Finding a lender who will put you up with merchant account processing can be as easy as talking to your banker or doing an online search. When you happen one whose terms suit with your company’s budget and objectives, you can speedily apply, get accepted, and set up a credit card processor at your store. You can also get a wireless processor to take along on your bringings or service phone calls to clients at home or at their topographic points of business. You can even put in a credit card processor phone system that allows clients dial a toll-free number, come in a merchandise order by responding to a pre-recorded automated prompt, and pay by credit card when they come in each account number by pressing the corresponding number on the telephone keypad. Perhaps the most promising option is to put up a Website that allows clients order from respective land site pages and then pay with a credit card. The lender will funnel the payment through a gateway system and then sedimentation it in the company account. Fees will vary, so check them out before applying for your merchant account with a certain provider.

When you spouse with a professional, trustworthy lender to open up a merchant account, your business can boom and even turn by utilizing account services in an appropriate manner. You can put in credit card processor equipment, spread out services by using a pager, and construct a more than expansive marketing domain by taking credit card payments at a assortment of locations. Don’t bounds your company’s income to customers’ check and cash payments. Find out how you can construct your client alkali and net income through merchant account processing.

The Merchant Account Gateway

Accepting credit card payments online is easy when you guarantee that your lender back ups a merchant account gateway. The manner it works is that your company uses for a merchant account. If accepted, the lender assists you to put up a Website that accepts customers’ credit card payments and communicates with a gateway. The lender plant with a gateway system to procedure the credit card payments and transfer them to your company account. Although this procedure may look complicated, it’s really pretty simple. All you need make is happen a company that volition offer you a merchant services account and assist you put up the required Website.

Finding a merchant account gateway can be handled with the aid of the lender, who works with many types of gateway systems. You just have got to do your Website nexus to the gateway so that the merchant account supplier can conduct through credit card payments. You may cognize of a gateway system you would wish to utilize based on the reports of co-workers or recommendations of a lender. Otherwise, your account supplier can suggest a system to use. If it doesn’t work out, you may be able to switch over later. The of import thing at first is to set all the pieces in topographic point so that they suit together to make a seamless flow of credit card income.

As may be expected, the merchant account gateway system necessitates an mixture of fees that are imposed by the account provider. Typically, these include the gateway fee, which could run on average about 35 cents per transaction. The merchant account bank may accumulate another 2.40% for each transaction. Your bank probably won’t necessitate further fees for deposits, and you may not have got got to pay a fee to have the Website put up and maintained. However, these latter two non-fees are negotiable, along with others, so it is of import to speak to your merchant account supplier to get a clear thought of all costs before you subscribe up for this account. You also need to check whether you will be billed for these costs or whether they will be deducted from your account each month. Some accounts include a minim number of transactions, so that the fees can travel higher if you have got fewer transactions than expected, or it could travel lower if you transcend the expected number.

A successful merchant account human relationship with your lender can lead to many potentiality benefits for your company. You can offer more than merchandises and services at your Website, along with further characteristics to attract new clients. A few Web-savvy marketing tips can turn your client alkali in a relatively short span of time. But you will need to apply for a merchant account, have got your application accepted, turn up a gateway that is integrated with your merchant account provider, and streamline the processing system to place bugs and hole them before the Website goes operational. Get in touching with your business lender or a new financial supplier to learn more than about the importance of a trustworthy merchant account gateway.

Merchant Account Information

Do you cognize where to happen merchant account information? It may be near than you think. Getting the facts on this valuable account may do the difference between your business growing dead and becoming vivacious with new life. Here are some ideas to consider.

Merchant account information may be available from the bank where you keep personal or business accounts. Check with your bank representative to happen out how to apply for this particular service. If your bank makes not offer a merchant account or if you make not measure up for it, the bank may be able to suggest another lender who can supply an account to suit your business goals. Most lenders look for business stableness that is reflected in a good credit history, enough current income to cover the disbursals associated with a merchant account, and a positive image in the business community. If your company rans into criteria like these, you have got a good opportunity of being approved for a merchant account. You can learn more than by doing an online Internet search using a search engine and phrases like “merchant account” Oregon “merchant services account.”

You also can learn something about merchant account information by asking around your business community. Civic organizations, conventions, trade shows, Chambers of commerce, and small business associations are just some of the topographic points where you can ran into other business common people who have got experience with merchant accounts. They can counsel you where and how to apply, what to expect, and how much to pay for services and fees. You can see their Websites or their companies to see how credit card processing actually works. Peers and co-workers can give you testimonies about their experiences using a merchant account for credit carding processing and other types of benefits.

There may be black and white booklets or booklets at some of these locations to supply inside information about how to apply for an account or where to happen more than merchant account information. Chat suite or treatment boards for small business proprietors may be a good topographic point to check in and perhaps inquire questions. You may desire to simply “listen in” on other members’ conversations to see what they have got to state about this valuable service. Merchant account inside information are widely available and can assist you do of import determinations about your company’s future. Since gap a merchant account implies the payment of fees for services, you will have got to calculate out if your company budget can afford to take on further payments based on the type of benefits you are likely to receive.

As more than companies set up to come in the electronic age in the manner they make business in this twenty-four hours and age, it is of import for you to happen all the possible merchant account information that you can. This is not a determination to be taken lightly, so arm yourself with the facts before you subscribe a contract for merchant services. While this account offers the possible for growing and increased net income revenues, there is also a certain amount of hazard involved, which is why it pays to take short letter of available merchant account information.

Factoring. Cash Without Borrowing

How to Increase Cash Flow Without Borrowing

Cash flow is one of the main reasons businesses fail. At one time or another, every business, even successful ones, have experienced poor cash flow. Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow.

What is Factoring?

One solution is called factoring. Factoring is the process of selling accounts receivable to an investor rather than waiting to collect the money from the customer.

Oh, the Irony…

Factoring has an ironic distinction: It is the financial backbone of many of America's most successful businesses. Why is this ironic? Because factoring is not taught in business colleges, is seldom mentioned in business plans and is relatively unknown to the majority of American business people. Yet it is a financial process that frees up billions of dollars every year, enabling thousands of businesses to grow and prosper.

Factoring has been around for thousands of years. Factors are investors who pay cash for the right to receive the future payments on your invoices.

An unpaid receivable or invoice has value. It is a debt your customer has agreed to pay in the near future.

Factoring Principals

Although factoring deals exclusively with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these large consumer finance companies are really just large factors of consumer paper.

Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, even though you do not make payment until you are ready. For this service, the credit card company charges Sears a fee (typical fees range from two to four percent of the sale).

The Benefits

Factoring can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product or service that has already been delivered, a business can factor (sell) its receivables for cash at a small discount off the amount of the invoice.

Payroll, marketing efforts, and working capital are just a few of the business needs that can be met with this instant cash.

Factoring provides the means for a manufacturer to replenish inventory and make more products to sell: There is no longer a need to wait for earlier sales to be paid. Factoring is not just a cash management tool for manufacturers: Almost any type of business can benefit from factoring.

Generally, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a moment about how much money is tied up in 60 days' worth of invoices: You cannot pay the power bill or this week's payroll with a customer's invoice, but you can sell that invoice for the cash to meet those obligations.

Factoring is a fast and easy process. The factor buys the invoice at a discount, usually a few percentage points less than the face value of the invoice.

The Drawbacks

People consider the discount a small cost of doing business. A four-percent discount for a 30-day invoice is common. Compared with the problem of not having cash when you need it to operate, the four-percent discount is negligible. Look at the factor's discount as though your business had offered the customer a discount for paying cash. It works out the same.

Companies consider the discount the same way they treat a sales price: It is simply the cost of generating cash flow, much like discounting merchandise is the cost of generating sales.

Factoring is a cash flow tool used by a variety of businesses, not just those who are small or struggling. Many companies factor to reduce the overhead of their own accounting department. Others use factoring to generate cash, which can be used to expand marketing efforts and increase production.

Why Factoring Appeals to the Start-Up

Factoring is especially appealing to young and rapidly growing companies. Since the process shortens their business cycle, these businesses can grow faster. The ability to make more products to sell while waiting for invoices to be paid is largely eliminated. Such businesses usually net much more profit with factoring than without, even when the discount is considered.

Factoring vs. Bank Loans

So, why not simply go over to the friendly banker for a loan to alleviate cash flow problems? A loan can be difficult if not impossible to receive, especially for a young, high-growth operation, because bankers are not expected to decrease lending restrictions soon. The relationships between businesses and their bankers are not as strong or as dependable as they used to be.

The impact of a loan is much different than that of the factoring process on a business. A loan places a debt on your business balance sheet, which costs you interest. By contrast, factoring puts money in the bank without the creation of any obligation. Frequently, the factoring discount will be less than the current loan interest rate.

Loans are largely dependent on the borrower's financial soundness, whereas factoring is more interested in the soundness of the client's customers and not the client's business itself. This is a real plus for new businesses without established track records.

There are many situations where factoring can help a business meet its cash flow needs. It provides a continuing source of operating capital without incurring debt, which can result in growth opportunities that dramatically increase the bottom line. Virtually any business can benefit from factoring as part of its overall operating philosophy.

Every good businessperson must understand the concept and benefits of factoring in order to operate as profitably as possible. The following chart can help you understand the differences between factoring and other sources of funding.

For more information on factoring and other non-traditional ways to obtain funding, contact Fred Coutts at (206) 364-9613 or Fred@FredCoutts.com.
Please visit my website
at http://www.fredcoutts.com/index3.htm for more information on
powerful funding programs without going through a bank

Fred Coutts, CPA, CMA. All Rights Reserved.

Credit and Banking Money Saving Services

The first regulation when applying for banking and credit services is to always read the mulct black and white and to understand all of it. Read up, take it home, and analyse it, inquire the banking manager questions. The mulct black and white is there for a reason. The charges and demands contained in there, will impact the nest egg or added disbursals you incur, whenever you bank or usage credit.

Checking Account
You can generate nest egg of more than than $100.00 a year, when you choose a checking account with a low or no minimum required balance. Request a listing of the fees that are applicable to your account and compare with other checking account offers. Read the mulct print. See if you measure up for the statuses and stipulations, the bank requires.

Savings account
Prior to gap a nest egg or investing account with the bank of your choice, inquire the bank and check to see that the account is insured by the federal authorities (FDIC or NCUA). Otherwise, you will presume 100% of the risk; you may stop up risking more than rather than saving.

Certificates of sedimentation or exchequer measures or notes. These certifications and short letters are accurately called forced savings. They earn above average but only after, they’ve reached a adulthood period. If you retreat before the owed date, you‘ll incur penalties. This is a competent manner to generate nest egg from finances you have got no contiguous need for.

Once you’ve selected the type of nest egg or investing products, compare the rates and fees offered by different institutions. These rates can change a batch and, over time, can significantly impact interest earnings.

Credit Cards
You’ll generate more than nest egg by researching on credit cards. Or you can name a research credit firm that volition for a modest fee; direct you a listing of low-rate credit cards. Use the listing to compare the characteristics of each of these credit card companies, according to their interest rates and charge cycles. Are it a 28 twenty-four hours charge cycle, or a monthly one? What are the freebies? Such as Cash back or airline miles offers. Volition you utilize these? You could be paying for these in the word form of higher interest rates.

If you have got a credit card, pattern the wont of paying off your full measure at months’ end. You generate nest egg by not paying late payment or over-the-credit-limit fees, which will add up to bigger charges.

If you have got a batch of credit cards, see using only one or two credit cards.

In the long run, your research on banking and credit services, will pay you back well in terms of consistent savings.

Investing in Mutual Funds Online

Are you thinking of investment some money? There are thousands of different common finances that you can begin investment your money in, but the inquiry is how make you pick the best one to suit what you are looking for? Or maybe you’re wondering if investment in common finances online is the right thing for you to do.

When you are setting up an account over the internet with your online broker, you must first ran into three of import requirements. Your computing machine must be able to link to the internet, your web browser must be at least 128-bit compatible such as as Netscape 3.0 or Internet Explorer 3.0 or higher, and you must have got at least a small amount of money if not more than to start. Some online brokers necessitate that you have got as much as $1,000 or the equivalent in securities to open up an account.

When investment in common funds, you should check around for different accounts that may be available. Some necessitate you to put cash up presence and others may not necessitate any cash to open up the account. You should make an extended elaborate search to happen an account that tantrums your needs as well as your bank account. Your best research tool is the World Wide Web and it is right at your finger tips 24 hours a day, seven years a week.

Investing in common finances online are always topic fees and this tin be a slippery subject. Brokers charge fees and these tin widely differ depending on the broker you take to travel with. Always read the mulct black and white with anything dealing with money exchanging hands. There could be hidden fees or fees for changing finances that are within the same monetary fund family. Some brokers don’t charge any fees and these may be the 1s you should look into. There are websites like http://www.globefund.com that tin supply you with daily, monthly and historical common monetary fund data. You can also see the public presentation charts of a peculiar monetary fund and compare finances against each other. This is an easy manner to happen the 1 that is best for you.

Prevent Identity Theft

Identity theft is fast becoming the major manner in which criminals are stealing your money. They are not only stealing your money but they are stealing your identity, using your personal inside information to derive access to your credit and unfastened up new accounts in your name redirecting the mail to a new address.

It is fast becoming easier for criminals to steal your identity as record numbers of consumers are obtaining credit cards and using their credit cards on unsecured websites. It is not only using your credit card in what may look to be otherwise normal states of affairs that you need to be wary of. You should do certain that credit card statements are disposed of in the right mode as well as all stuff that includes your personal details.

Shopping

Situations that you may believe normal when using your credit card could be otherwise baleful your identity. Corrupt cashiers or servers could easily scan the achromatic strip on the dorsum of your credit card to obtain inside information that they can then utilize to clone your card. When buying commodity or paying for your measure never allow your credit card out of your sight as it would be more than hard for fraudsters to swipe your card.

Other scanning machines that you need to look out for are at cash machines where you infix your card. Criminals have got been known to attach these scanners at cash machines duping customers. If when using a cash machine and you believe there might be a scanner attached make not utilize the cash machine and report it as soon as you can.

Online

If you are not security witting when purchasing online you could go a victim of identity theft. When buying an point on the internet be certain the land site is secure as you may be entering your credit card details. You can check this by making certain there is a padlock symbol on your browser bar. You may also wish to have got a Paypal account, which will further protect you from online fraud. New security measurements are being updated frequently to seek and wipe out the problem of online fraud.

Personal Documents

When disposing of your credit card statements, measures or any written documents that may have got got your personal inside information included on them you must believe about who may be able to have access to them. Investing in a shredder will eliminate nosy eyes seeing your inside information and they are quite a cheap investing considering the amount of money you could lose if you were to fall victim of identity theft.

It is of import to check your credit card statements against gross every calendar month to verify what you have got bought and what you are paying for. Any sort of abuse on your credit card should demo up and you can then move on it immediately.

Be vigilant and be just as protective of your personal inside information as you would be your cash.

Have You Ever Opened a Checking Account?

Maybe some of you are saving it in your trusty piggy bank, under your mattress or way back in a sock drawer. Although I’m glad that you are saving, your money is not doing anything for you locked up in your house. Consider a checking account where you can make some interest on your money. And for those of you who already have a checking account, after reading this article you may want to change banks.

Checking accounts are the most popular accounts banks hold. People use them to pay bills and expenses but did you know that there is more than one type of checking account? To name a few there is the basic checking, free checking, interest-bearing, joint checking, express, lifeline, senior/student checking and money market. For a summary of them, go here (http://www.bankrate.com/brm/green/chk/basics1-1a.asp).

Choosing a checking account

You should put more thought into getting a checking account. Why you ask? Because some charge you for an in person transaction or have a high insufficient fee, or ATM fee, even when you use one of their ATMs, etc. When selecting the right account for your needs, you have to take all your banking habits into consideration. Think about whether you bounce checks on a regular, how many checks you write a month, if you prefer to get your statements in the mail or view them online, if you prefer to do your banking online, by phone, at ATMs or work with a bank teller in person, how much money you usually keep in your account, etc.? Knowing all these things beforehand will make it easier for you to pick the right bank and checking account to keep your money in your account and not in the bank’s greedy hands.

Free checking really free?

Some banks say they offer free checking but there are all these stipulations, such as if you don’t maintain a certain balance then you will get charged X dollars a month until you meet the minimum. Other banks charge a fee for using the account. According to the Federal Truth in Savings Act, free checking means that there are no minimum balance requirements and no monthly activity and maintenance fees. But that doesn’t mean you won’t get charged for bouncing a check, stopping a payment or writing more checks than you are allotted for the month.

For those of you who still write checks, you can no longer count on having a couple of days before the money actually comes out your account. I just found out there is a law that took effect in October 2004 called Check Clearing for the 21st Century Act (Check 21). This law was designed to speed up the payment of bills. If you write a check to the light company, they can convert it into an electronic check and e-mail it to their bank without having to send the actual check through the mail. This may not concern those twentysomethings who manage to keep money in their account but for those of you who are living paycheck to paycheck, this might be a problem for you.

Bouncing Checks

Banks want to pretend that they are on your side. Look at this example taken from Bankrate.com.

“Say you had $300 in your checking account and you wrote six checks totaling $375. The six checks are for $200, $12, $50, $60, $23 and $30. If they all came back to the bank on the same day, the bank will clear the $200 check and the $60 check and bounce the rest since the next largest check ($50) won't clear.” You would have to pay four separate insufficient fees. At my bank the insufficient fee is $30. That would be $120! Although the bank could have cleared the smaller checks first, their stand is that the larger checks could be for something more important such as a mortgage or car loan.

To avoid getting those pesky insufficient charges, consider getting overdraft protection. In order to get it you have to have another account with the bank, whether it’s a savings account, credit card or some other line of credit. So if you overdraw your checking account, the bank will pay the remaining balance and take the money out of your account. As long as you keep money in your other accounts, the bank guarantees the check(s) will be paid. You will still get charged a fee but it will be dramatically less than the insufficient fee. But the trick is you have to request the overdraft protection. The bank will not automatically cover your checks because you have other accounts with them.

Okay, I have just given you a summary to get you started on choosing the right bank to hold your money. The rest is up to you. In fact, I’m thinking of changing banks myself, in researching for this article I just realized I am getting ripped off. For more on checking accounts go to bankrate.com.