The merchant account checklist

Pricing and statement clarity

Request a complete schedule of recurring, per-transaction, percentage-based, one-time, and conditional fees. Ask how interchange and network charges appear if they apply. A sample statement can help demonstrate reporting clarity.

• What is included in the quoted rate, and what is excluded?
• Are there gateway, PCI-related, statement, monthly minimum, batch, chargeback or other fees?
• What changes when transactions are keyed, online, refunded or disputed?
• What triggers repricing or reserve requirements?

Contracts, equipment and ownership

Understand the parties in the relationship. The platform, processor, sponsoring bank, equipment provider, and software company may not be the same entity.

• What are the term, renewal, termination, and early-exit provisions?
• Is equipment purchased, rented or leased? Can it move to another provider?
• Who owns the merchant's account relationship, customer tokens, and transaction data?
• What assistance and cost apply when migrating away?

Operations and support

A financially attractive proposal can fail if deposits are hard to reconcile or the checkout no longer works.

• When are funds usually available, and what are the exceptions?
• Who handles disputes, freezes, reserves, refunds and funding questions?
• Which POS, gateway, ecommerce, accounting and vertical software versions are supported?
• Who is accountable during installation and cutover?
• What are documented support hours and escalation procedures?

Keep the evidence

Request written answers and store your comparison securely. Do not email cardholder details, passwords, unredacted statements, or bank credentials to unfamiliar sales contacts.