Merchant Accounts: All you need to know

Friday 14th January 2022

Chloe

What are merchant accounts?

A merchant account is a type of business account.

They are an intermediary account, receiving funds from your customer then passing the funds to your bank account.

You need a merchant account to be able to receive card payments.

Merchant Accounts are completely different to a regular business bank account.

Why does your business need a merchant account?

Merchant accounts are used to check if a customer has the funds to purchase your product/service.

Without a merchant account, your business will NOT be able to process card payments.

Merchant accounts help protect you from card fraud.

Fraud checks are made, checks to ensure the customer has enough funds for the transaction, then the money is sent directly to your merchant account.

Then once that is complete, the money is sent to your bank account, usually within 3 working days.

How can Omni Merchant Services help?

We will help you set up your Merchant Account.

So, you can begin taking card payments from your customers.

This is a free service we include when you set up your card payment solution.

Contact Us today on 01179 902298 to start your journey with OMS.