Just Like In Error# 2, Be Sure To Check The Company First

Category: Finance.

Carl Mahoney owns a ladies' perfume shop. His store made good business.

At the start of his business, he used his garage and converted it into a makeshift store where customers can drop by and purchase items using cash, credit cards or personal checks. Soon rented a decent space from a mall for his unique brand of perfume. From one outlet, Carl got additional three outlets. Then he expanded his store space. Later, a friend advised him to put up an online shop for his business. Hardly has his site been uploaded in the Internet when he got swamped with offers for his payment processing requirements. He did.

Being a busy man, he didn' t spend time scrutinizing each of the company but instead settled the very first one. His business record books showed he was losing money fast with the processing system that he chose. Soon, he had to pay a bewildering array of exorbitant fees to this company. It bit a sizable chunk into his profits. And when he did, it was too late. It took time before he realized such mistake. He already lost to it a considerable amount of revenues.

Be vigilant and watch out for these five most common mistakes merchants make when choosing for an echeck processing system: )MERCHANTS USUALLY TAKE THE FIRST ECHECK PROCESSING COMPANY THAT COMES THEIR WAY. Learn from Carl's bitter lesson. From a financial point of view, only lazy people make this blatant mistake. To remedy this, take time to examine and scrutinize each echeck processing company that vie for your attention. It's nonsense, too, and very costly. Look for a company that had been long in the business. )MERCHANTS DECIDE ON ATTRACTIVENESS OF THE ECHECK PROCESSING COMPANY BROCHURE. They will mislead you into thinking that they operate a legitimate company by the attractiveness of their accompanying brochure when in reality, they are nothing but a bogus.

This is where deceptive individuals come in. Only a careful background check will reveal the sad sorry state of their company. It's a bait to lure unsuspecting merchants like you. Never fall for full- colored, glossy brochure. Go for a company with a proven track record. )MERCHANTS CHOOSE AN ECHECK PROCESSING COMPANY WITH COLORFUL, WELL- DESIGNED HOMEPAGE. Remember that, for a little fee, one can hire a good webmaster to design an excellent, corporate- looking website.

Similar to mistake# 2, only this time, it's not about the paper brochure but the homepage of the echeck processing company. Don' t fall for this one. Search your government's listing of legitimate companies and do some double- checking, if possible. Just like in error# 2, be sure to check the company first. Select a company with stable resources. )MERCHANTS CHOOSE AN ECHECK PROCESSING COMPANY ENDORSED TO THEM. When the topic centers on echeck processing service, one or two attendees will drop hints about a particular company.

Let's say a merchant attends a business forum. The poor merchant will take that as gospel truth and then subscribes to its service. Only a careful scrutiny will tell. Of course, this particular company may or may not be a good one. But why take unnecessary take risks? More so if the salespeople happen to be sexy, attractive and very persuasive ladies. As we have said in# 1, choose a company with a proven track record. )MERCHANTS FALL FOR SMOOTH- TALKING ECHECK PROCESSING SALES PEOPLE.

The sales talk will be too convincing you will be blown away with the salespeople's purported facts and figures. They assure you with empty promises. Usually they talk glibly. If you get into their bait, you will end up the loser. Remember, it's your hard- earned money at stake here. So be vigilant and don' t fall for this lousy mistake.