Tips For Getting Out Of A Merchant Account Contract

There is no sure shot method of getting put of a merchant account, without paying the ETF. However the chances of getting out of a merchant account without paying a cancellation fee are not bleak. The important thing to remember is to not to get into a contract, which slaps you with a hidden cancellation fee later on.

Read on to know how to get out of a merchant account safely –

1. Do Your Homework

Before signing on the dotted lone, please ensure that your research is complete. Do check the profile of the company before taken any decision.

2. Don’t Take The Sales Agents Words Literally

We are not saying that all sales agents need to be viewed cautiously, but we are strongly insisting that you don’t take their word literally. But the fact of the matter is, that the sales agents out there will go to any limit to get a businessman to sign on the dotted line.

3. Read The Terms And Conditions Carefully

Businessowners, who flip through a terms and conditions document of a high risk merchant account, always live to regret it one day. No matter how tedious it may seem, a merchant must read each and every page of the document. Only then will he know intricately about the conditions and the rates that will be applicable to his business.

4. Get all promises in writing

No matter how many promises the agent might have made to you, they have no value if not in the written word. Always insist on getting it in writing with a special mention of the agent who committed to it.