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Merchant account

Asked by: Eva Fekete - 1 September, 2011 Can I use a checking account as a merchant account for my corporation?
Answered by: Lloyd Johnson - 5 September, 2011 Eva,

Merchant accounts are different from regular checking accounts, and if you want to open one for your company you should contact a merchant service provider.

Typically you would need to submit an application and go through a credit check. Then in order to process payments you would need a terminal. It can be physical terminal where you would swipe cards, or online terminal such as this used by websites to process payments.


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