How Many Merchant Accounts can You have?
You should have one merchant account processor for processing the credit card transaction. However, you can use more than one payment processor. For this, you should apply for an additional payment processor and activate them to accept payments.
Yes, some businesses have more than one merchant account, but we do not recommend it. They use Merchant X for processing VISA, Master cards, and Merchant Z for Amex cards. However, they cannot use two merchant accounts for all cards.
Please remember the following points while choosing a merchant account providers UK.
- Each merchant account should be set to process a unique set of cards (read the previous example).
- You cannot use the authorization from one merchant account to process manual transactions in another account.
- You should check about the non-qualified transactions and higher fees.
Can you Have Two Merchant Accounts?
Most of the businesses in the UK have only one merchant account. We prefer to use one account for all cards. It helps you in many ways.
Some people think having more than one account allows them to process a higher volume of payment and increase security. The short answer is, it depends on you.
How Much is a Merchant Account?
In the UK, fees can range from 0.5% to 5.0% of the transaction amount. Many providers charge hidden fees. We recommend you read all terms and conditions before choosing your provider. There are fees like
- Set up fee
- Card capturing system fee
- Processing fee
- Penalties and other fees.
Please remember all of these before choosing more than one provider.
How can I create a Merchant Account?
If you want to create a merchant account, you should choose Utility Umbrella, the leading merchant service provider London.
We charge the lowest transaction rate in the UK. Besides that, we offer 24/7 UK based customer services to solve all your queries. We are transparent and do not charge ‘hidden fees’.
Please visit our service page to know more about our services. Please feel free to book a call with us. We are looking forward to talking to you.