All-about Merchant Accounts
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In today’s world with large Scale business and merchant transactions being carried online and offline speedy and safe payment options are an essential requirement. merchant accounts are therefore one such solution that takes care of this specific need of the business community.
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A commercial account or a merchant account is established by agreement between the bank or to the merchant account provider and the businessman or the merchant is known as a merchant. This agreement has a well-defined set of rights, warranties and duties. You can approach the bank or the payment processor to get the account.
Once you decide to set up a merchant account provider to accept credit cards, try to compare the offers of the various banks or the merchant services. After you approach the bank, the bank requests information about your business to access it. According to this assessment it determines what fees you will have to pay for the transaction the processing time is around 1 to 4 weeks. Budding businesses may take more as the bank requests additional information from them.
Generally the bank requires information about your business history and performance particulars, details about your expected turnover, business accounts, average transaction values and what goods and services you are offering or selling before setting a merchant account and providing credit card machines.
www.merchant-accounts.com work in a very particular way when a customer makes a purchase you key in the customer card number or swipe the card in the credit card machine. The next step is key to the transaction amount in the terminal then passes on the details to the bank where the customer’s account is checked to see Whether enough funds are available or not. If funds are present than the transaction is authorized. Once the transaction is completed the bank carries on the transaction process. It then credits your merchant account with the money from the customer’s account. Within 3 to 4 days. The bank charges a credit card processing charge for this service.
Accepting credit cards can be risky if certain precautions are not observed like asking the card security code, use an online database to check the address and names you have been provided by the customer. You can also use the address verification service offered by the banks which checks the numeric details of the customer’s address.
Merchant account is the number one credit card processing service provider in U.S.. Visit the site www.merchant-accounts.com to get more information about merchant account services.
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Is Electronic Banking a Good Idea?
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Electronic banking also known as online banking is a great way to do your banking business without having to leave home. With today’s added security features, so this is a safe way to do your banking. However, with all things “online” you need to take some precautions.
Electronic banking is simply the process of doing your banking transactions via your computer rather than physically going to your bank online banking can be used to make deposits and withdrawals. It can also be used to pay bills once your accounts are set up for online transactions.
Online banking can be Used for personal accounts or for commercial accounts. In fact, with more and more work being done on a global basis, online banking is becoming more popular than ever. Truth is many people use online Banking and exclusively that they never see a paper check anymore.
Electronic banking requires that you have an internet connection and a computer. While a dial up account will work, broadband Internet is better. You must therefore set up the account with your bank once you have done these things, you can access your account with just a few clicks of your mouse. Best of all, you-can-access your account anytime of the day or night.
This unlimited access to your account Allows you to keep track of your checking account balance, see which checks have cleared your account or bills, and if you wish, you can authorize payments to utility companies.
Online banking can then be used for other types of accounts as well, such as monitoring your savings account. Most banks will allow you to set up online accounts for all of your accounts and they keep them separate for you, which will minimize confusion.
A few cautions are in order about online banking. First, you will be asked to set up a user name and password for your account. You should never give out this information to anyone. If someone has that information they can access your account and cause all types of problems for you. You should treat your password as carefully as you would your ATM PIN treat.
Most banks will never call you and ask you for your password. They will never send you an email asking for that information either. If you get a phone call from someone stating that they are from the bank, refuse to give out your password. Instead, tell them you will call them back and get their name and extension number at the bank Then call the correct number for your bank and ask for the person that called you. This way you know you are talking to the bank and not to someone who may be pretending to be from the bank
If you notice your online statements with any discrepancies you should contact the bank immediately. They can, if need be, put a stop payment on something that is suspicious or that you did not authorize.
Online banking is a great way to save time and energy and because it is so safe and secure these days, it is really worth the effort it takes to get it set up once you try it, you will love it.
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Question by Josephine H : What is the difference between in accounting clerk, accounting technician and staff accountant? I was so happy that I found a job in public accounting, however, they gave me an “Accounting Technician” title and I am pursuing a professional accounting designation. Will I ever get a chance to become a “Staff Accountant” instead?Is “Accounting Technician” a position below what a Business degree in Accounting graduate should be getting?Like I am in a three months probation, after three months do you think if i can pass the probation, then I can become a “Staff Accountant?Thank you.
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Best answer:
Answer by Duncan B From a UK perspective
we have three or four categories:UnqualifiedQualified by ExperienceAccounting TechnicianCCAB Qualified AccountantAccounting Technician is a distinct qualification offered by The Association of Accounting Technicians.Qualified Accountants are usually Chartered Accountants, Chartered Management Accountants, Chartered Certified Accountants or Chartered Public Finance AccountantsQualified Accountants qualification is more advanced than a degree.Hope this helps
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