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Merchant account

Asked by: Eva Fekete - 1 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 Can I use a checking account as a merchant account for my corporation?
Answered by: Lloyd Johnson - 5 September, 2011
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/36.jpg-879792e1197755ef7c796380de659758 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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