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- Be wary about advertisements that are misleading or are flat out
dishonest. If they lie on their ads then most likely they will not care
about you later on. Watch out for blurbs like:
- $500 Cash Reward if you can find a Better Deal.
Research their reward and see what exactly they mean by reward. You
may be surprised to find out that the reward is actually a cash refund
after you sign up.
- Lowest Prices Guaranteed (Again, research their guarantee.
They usually offer money if you can find lower prices, but the money
paid to you is a refund once you sign up).
- No Setup Fee (Search their prices very carefully, they
usually have another name for it like "real-time fee",
"gateway fee", "software fee", or "virtual
terminal fee").
- Instant Activation (These types of accounts have severe limitations attached).
- Instant Merchant Account (Be sure to ask them
when you can receive your funds).
- Free Merchant Account (This is a gimmick; find out
where the hidden costs and stipulations are, because every company
must make a profit somewhere).
- No Merchant Account Needed (Do you really want someone else
to handle
your money for you and pay you when they want to? Technically you are under their
umbrella, even though they issue you a merchant ID number. MasterCard
and Visa do not allow multiple parties to share the same merchant
account and will eventually shut these companies down).
Remember that Visa and MasterCard regulations require that a
company disclose who their sponsoring bank is if they mention Visa and
MasterCard anywhere on their website or advertisement.
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