Merchant Accounts for Bail Bonds
Are you thinking about starting a bail bonds company? This can be a lucrative business, but you need to make sure you are able to accept payments using a variety of methods. Choosing the right merchant account is crucial if you want your startup business to be successful. Luckily, there's a good chance you'll be able to find one if you do your research and look around. To help, we've come up with a simple list of some of the major points you want to consider when you're making your decision.
If you're wanting to start a bail bond company and don't know where to start when it comes to getting a merchant account, here are a few things you should carefully consider before you make any decisions.
Billing Options - You're going to want to make sure you can take as many different types of payments as possible. The more billing options open to you, the more likely you're going to get paid without any problems. This means accepting Visa, Mastercard, Discover and Amex (American Express) credit cards.
Chargebacks - Unfortunately, chargebacks are a problem that businesses in the bail band industry face all the time. The good news is that the right merchant account is going to understand this and work with you rather than just charging you outrageous rates.
Retail / Card Present / Signature - While not a retail business, most bail bondsmen are going to want to be able to take a card present payment along with a signature. At the same time, being able to use a virtual terminal to take payments online is also important in the modern world.
Friendly Staff - Yes, the technology associated with a merchant account is important, but you shouldn't forget about the human element. This means finding a customer support staff who is friendly, professional, and knowledgeable about the bail bond industry and their specific needs.
Application and Setup Fees - When you're running a startup business as a bail bondsman, you don't want to have to pay a lot of money upfront to get started. Some merchant accounts are available with no application or setup fees so that you're not drowning with bills before you get started.
Using the list above, you should be able to go through all the merchant accounts that are available and choose the company that's going to do the most to help you.
Merchant accounts for bail bond companies need to be flexible. As mentioned above, another important aspect to look at carefully is the policy on chargebacks. The list above should be helpful, but you want to make sure you choose one that's going to work for your particular business. IBI Merchant Services is a solid choice because we have a lot of years experience dealing with merchant accounts for bail bondsmen. Give us a call today to learn more about what we can do for you company. You might be surprised by our low fees and rates.