ECommerce Merchant Accounts: Do Not Sign Long Term Agreements

Here is a quick ecommerce tip when shopping around for a merchant account/gateway provider:

Do Not Sign Long-Term Merchant Agreements!

If you shop around a bit, you can find merchant account/gateway providers that do not require a long term commitment. Long term agreements benefit the provider and not you as a merchant. Signing a long term agreement commits you to staying with a processor regardless of your satisfaction and in some cases pricing changes. Cancellation fees and terms are hard to find in an agreement so check very closely before you consider canceling your existing plan or signing up with a new provider.

Canceling in the midst of your term means paying a steep termination fees or remaining monthly fees.