As an entrepreneur, I’m always looking to optimize my finances, and one of the best ways to do that is through better merchant account services. In this list of the 7 Best Free Merchant Accounts for Small Businesses in 2022, I’ll discuss the pros and cons of some of my favorite free merchant account options out there. Which one will be best for your business? Find out!
1) Flat Fee 2.75%
For small businesses on a budget, it’s tough to beat Intuit and Stripe. Both companies offer free software, with Intuit charging merchants a flat fee of 2.75% per transaction and Stripe charging 2.6% per transaction plus 30¢/transaction. In both cases, there are no monthly or sign-up fees.
2) Zero Liability
Securely and easily accept credit card payments with no worries about chargebacks, returns or frauds. The Zero Liability protection shields you from fraudulent transactions so that you never have to worry about liability.
3) No Minimum Transaction Amount
As a small business owner, you probably look for ways to cut back on expenses and ensure your clients pay their bills on time. These are two important factors if you want to stay afloat in this economy. However, with so many options out there, it can be tough knowing what features you need for your company.
4) No Monthly Fees
When it comes to managing your finances and freeing up some cash flow, free merchant accounts are a fantastic tool. If you’re running a small business, then there’s no need to fear; we’ve got you covered with seven of the best merchant accounts that don’t charge monthly fees!
#1 Square Payment Systems: With Square, your merchant account fee is 0% for most products as well as affordable rates on all other products and services. This means that there are no hidden costs or penalties when using Square.
5) No Statement Fee
Working with a merchant account company that doesn’t charge any fees to sign up and provide services will save you money upfront, as well as giving you access to expert support without extra charges. You won’t be nickel-and-dimed for every transaction or purchase on your card.
6) All Major Credit Cards Accepted
The best free merchant account is one that will accept all major credit cards. Additionally, you should consider signing up with a provider that doesn’t charge hidden fees. This will help lower your company’s costs and ensure greater profitability.
7) Great Customer Service Section (optional, but really really helpful!)
We are not done with merchant accounts yet! We need to talk about customer service. You need a company with fantastic customer service. Finding a company that will promptly answer any questions and resolve any issues can be one of the hardest parts of opening a business. Fortunately, you now have plenty to choose from. Here are just some options