What Is A Merchant Account & Why Do You Need One? [Merchant Accounts EXPLAINED]

Without a merchant account, you're leaving money on the table - money that would look so much better in your bank account💰🏦. In this video we'll walk you through what a merchant account is, how it works, and more importantly, how to secure one for your business.
What is a merchant account? Think of it as a specialty bank account that allows you, the business owner, to accept credit card transactions. Essentially, a merchant account acts as the bridge between your customers bank account and your business's bank account, supporting the secure transaction of funds. Its main job is to temporarily hold funds to allow time for refunds, chargebacks, gratuity and other back end transactions to settle before transferring to your business bank account.
Leave a comment below if you have any questions or want us to dive deeper into any topics of interest!
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Additional Resources
What Is a Merchant Account & How Does It Work? The Ultimate Guide ➡️ paymentcloudinc.com/blog/merc...
Merchant Account Fees & Rates: A Complete Guidebook ➡️ paymentcloudinc.com/blog/merc...
Merchant Account vs Business Bank Account ➡️ paymentcloudinc.com/blog/merc...
How to Get a Merchant Account ➡️ paymentcloudinc.com/blog/how-...
What Is a High-Risk Merchant Account? ➡️ paymentcloudinc.com/blog/what...
What Is Payment Processing? ➡️ paymentcloudinc.com/blog/paym...
Payment Gateways Explained ➡️ • What Is a Payment Gate...
Issuing Bank vs. Acquiring Bank: What’s the Difference? ➡️ • Acquiring Bank vs Issu...
What Is a Virtual Terminal? ➡️ • What Is A Virtual Term...
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Apply for a merchant account with ☁️PaymentCloud☁️ ➡️ paymentcloudinc.com/apply/?ti...
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Chapters
0:00 Intro
0:21 What Is a Merchant Account?
0:52 How Does a Merchant Account Work?
1:47 Why Do You Need a Merchant Account?
3:31 Merchant Account Fees
4:06 How to Open a Merchant Account
#merchantaccount #merchantaccountexplained #whatisamerchantaccount #merchantservices
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[@user-tt1vf3cm5i]

Wow, very informative! I never knew a card transaction size was larger than a cash one!

[@drewklebine9487]

Very straightforward and clear-cut explanation! I think I may need to upgrade to my own merchant account

[@jguardado_pc]

perfect explanation

[@MitchellB350]

Super informative!

[@user-cq5vs9bz9r]

This really helped me, thanks!!!

[@madhuranamu7184]

I have money in merchant account but i can't withdraw

[@madhuranamu7184]

They are telling that my account has frozen so what to do