Mistakes and FAQ
12 Common Credit Card Processing Mistakes That Cost Merchants Money
Avoid the most expensive card processing mistakes, from equipment leases and auto-renewing contracts to ignoring statements, settlement timing and downgrades.
Before You Sign a Merchant Agreement Checklist
A practical checklist for reviewing a processing contract, pricing and equipment terms.
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Pricing
Contract
Equipment
Compliance
Funding
Use this checklist before you sign any merchant services agreement, whether it is a traditional merchant account, a payment facilitator account or an add-on to your point-of-sale software. Tick each item as you confirm it in writing. Verbal promises from a sales representative do not bind the company, so ask for the answer in the contract, the fee schedule or an email you can save.
The items are grouped by where trouble usually starts: pricing that resets after an introductory period, contracts that renew automatically, leased equipment that outlasts the service, and compliance fees that appear only on the statement. If a provider refuses to put an answer in writing, treat that as a reason to compare other options.
The checklist is generic and is not a substitute for reading the full agreement. For high-volume or high-risk businesses, have an attorney review the contract. Your progress is kept in your browser only.
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