Should I open a Merchant Account with my bank?

Q: My bank is offering me merchant services....is there a reason I should not go with them? 
     Yes!

Banks are not in the merchant services business! It is a product that they offer like ordering you checks from a third-party for your checking account. They go to an outside merchant services company that they have a monetary partnership with. By doing this, you are losing out on a couple of good aspects that Merchant Processing Solutions Inc has do for you:

• Usually someone in the bank takes the application or they call an exclusive rep from the partner Merchant Services company. They will take your application and then they are done! 
• You will have your equipment shipped to you along with and 800# to call for installation that you will have to do on your own.
• If you have any issues with the installation, you may have to spend a lot of time on the phone or call in someone to install the terminal or software for you; at your own expense.
• The first time you have a problem, you will realize the value of a local representative and a local company that can bring you immediately a replacement terminal so you have NO down time! 
• Then the statement comes and you realize that are a lot of charges on the statement that you do not understand or you might even feel that you were not even told about them! Your only choice is to call the 800# for customer service and spend however long it takes to get the answer you need.
• I always ask potential customers if they are currently under contract with their bank. Many merchants say they are NOT, only to find out that not only are they under a contract, but that it is for 3 years with a VERY LARGE cancellation fee!!! Yikes!!!
• I have other merchants that come to me and say, I just finished my contract so let's get things going! I ask them when "SPECIFICALLY" their contract expired and what were the terms to cancel that contract. Merchants don't know that they have to give cancel notice with so much time in advance, otherwise many of the bank contracts have AUTO-RENEWAL clauses to them. 
• Banks have also partnered with equipment leasing companies to lease equipment to their bank merchants. Again, many potential merchants think they own or are renting their equipment only to be told that they are on a 4 year+ lease. 
• Lastly, one of the most horrific discoveries is when they realize that the bank they thought HELPED so much to get set up with a merchant account, not only signed you to a 3 year contract with cancellation fee but also a 4 year lease with an even bigger cancellation fee!

                To Summarize:

                        Bank Merchant Accounts:                            MPS Inc. Accounts:

                 - Contract with Cancellation Fee                         - No Contract, No Cancellation Fee,
              & Auto-Renewal                                                  No Auto-Renewal

                 - Lease of equipment – sometimes                      - No Leases

                    longer than the contract                                     - Equipment at Cost

                - No Local Customer Service Rep                        - Local Sales Rep for Application, 

                           - No Local Installation & Training                         Installation & Training
                                                                                                         - Local Customer Service Support
                                                                                                             & 24/7 back office support.

Call Merchant Processing Solutions Today and see the difference! 954-938-2420

Creating Relationship NOT just transactions!!!