If you’re just getting started in a new home business, online, or small business you’re going to need a merchant account in order to accept credit cards. But do you know what to look for when it comes to fees? Let’s take a look at some of the different fees you’ll see so you know what to watch for.

Setup Fees: Setup fees will vary a lot from company to company. Some have a realistic fee, and others charge crazy amounts for this step. Make note of what they will charge to get started so you aren’t surprised by a $500 fee. You can find companies that charge a lot less than that!

Per Transaction Fees: Every merchant account charges some sort of per transaction fee. They usually break these fees up into two different ones. One is a flat rate such as $0.30, and the other will be a percentage such as 2.5%. As you process more and more with a merchant company the rate will usually go down. Or at least you can renegotiate it.

Monthly or Statement Fees: Almost every merchant account company I’ve seen will charge a monthly or statement fee. These fees also range all over the place. I’ve seen them range from $10 to $40 depending on the company. You may also find some companies that charge a yearly fee instead, but they usually increase their per transaction fees instead.

Account Limits: This is another thing to watch out for. A lot of merchant companies will put a limit on how much they’ll process for you each month. This is a huge problem if you have a good month that goes over that limit. You’ll have to renegotiate and go through a lot of other problems. Look for companies that either have a high rate or are very easy to work with on this.

Those some of the different main merchant account fees that you’ll run into as you look at different merchant account companies. There are usually a few others, but this should be enough to get you started on your comparisons.