Merchant Account Blog

This may sound obvious, but you would be surprised how many new merchants don’t do this. But once you have established a new merchant account you should run a test transaction for $1. Why? Because:

1. You want to make sure your credit card terminal works properly

   There’s no better way to make sure your equipment is setup properly then to use. Make sure it communicates with your processor successfully and prints out a complete receipt for you.

2. You want to make sure your credit card terminal is setup properly

   Is it your business name at the top of the receipt? Is it spelled correctly and have your correct address and phone number?

3. You want to make sure you receive your deposits

   This is the best reason of all to so a test transaction. You want to be sure that the $1 transaction you processed actually gets deposited into your business checking account. If there is an error somewhere that is preventing you from receiving your funds, you are better off discovering this by “losing” $1 rather then $1,000 (or more). If you don’t see that $1 in your business checking account within three business days or so, call your processor and see what the story is. You just might be saving yourself a huge headache and nightmare.

This entry was posted on Friday, May 26th, 2023 at 9:31 am and is filed under Merchant Accounts. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.