You know, a lot of businesses especially new businesses feel obligated or even stuck using their bank for their credit card processing needs. This could be a very costly mistake and can actually cost you more than 25% on your fees for credit card processing. So let’s take a look at the first three of four main reasons why not to use your bank for your credit card processing needs.
1. Credit Card Processing Fees
· Cost you on average 25% more than a reputable merchant services provider (like schmooze inc.). Most banks do not do their own credit card processing. They outsource them which in return makes their rates a lot less flexible.
2. More Upfront Fees Owed
· An application and/or programing fee’s to get your account setup and equipment programmed are the most common upfront costs associated with getting a credit card processing account through a bank.
3. Equipment Costs are Higher
· Banks are acting like a reseller of a reseller, so the costs to purchase equipment are much higher.
Compare that to a reputable merchant services provider like schmooze inc., we are a specialist in doing nothing more than providing you the best credit card processing we can with the most competitive and flexible rates to meet your needs. Those three items just mentioned above are good enough reasons why not to use your bank for your credit card processing. But let’s take a look at one more important reason which is;
4. Customer Service & Technical Support
· There is a myth that if you choose your bank for your credit card processing, they can provide you the same level of service for your credit card processing, as they do for your banking needs. This cannot be further from the truth! Just as it was mentioned above, Banks outsource their credit card processing which in return, means the customer service and technical support also is routed to that processor the bank uses.
Compare that to us, we are a local, direct point of contact between you and the processor. You might want to compare us to a local insurance agent for a large insurance provider. We are here to service your account, answer all your questions, come out to your place of business to repair or replace a faulty credit card machine, deliver you free paper supplies, and the list goes on! Are you going to get that with your bank? Nope!
A local reputable merchant services provide, like schmooze inc., is vested in your business. This is all we do! Credit card processing is not an add-on service for us like it is with the Bank. You have a local company who appreciates your business and is always available to you night and day. Making sure you are getting the absolute best customer service to keep you happy and providing you the most up-to-date processing solutions for your business needs.