It is common for business owners to use e-Commerce merchant accounts as they deal with credit card transaction. These accounts come with some disadvantages but merchants should also take note that this type of accounts has its own share of benefits as well. It is wise to weigh the pros and cons before signing any agreement with a merchant bank.

Disadvantages of getting an e-Commerce merchant account
1. High risk of fraud
Fraud is a common problem when it comes to obtaining an e-Commerce merchant account. You need to do your homework and research, obtaining the best security features money can buy just to make sure your e-Commerce website is safe from unscrupulous people who are out to steal your customers private details and using it for their own gain. The security features you employ to keep your business safe should also prevent fraudulent credit card usage from happening. Ask your e-Commerce merchant account provider about online fraud protection so as to ensure greater peace of mind – for both your customers and you!

2. DIY maintenance
Most of the time you only have yourself to rely on when it comes to maintaining your site. This is because some e-Commerce merchant account do not provide technical support and webhosting. Those that do, are genuinely interested in offering you a full package so that you can sit back and see your business prosper but most of the time it’s all DIY for you!

3. Fees payable
The charges associated with getting an e-Commerce merchant account ranges from mild to heavy. There are so many fees to take note of: setup fees, annual fees, statement fees… and also the infamous percentage fees per transaction. Merchants who enjoy high volume sales will be glad to find out that they quality for discounted rates and fees but for those who don’t, they may be disappointed to find that they could potentially lose out per transaction in the long run.

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