Tips for switching merchant account providers

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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

Switching Merchant Providers: A User-Focused Guide

Understanding the Process of Switching Merchant Providers


Switching your merchant provider may seem like a daunting task, but it doesn’t have to be. At Merchant Advice Service (MAS), we understand the importance of finding the right merchant account for your business. In this user-focused guide, we will walk you through the process of switching merchant providers, providing valuable insights and tips along the way. Whether you’re seeking better rates, improved customer service, or enhanced payment solutions, we’re here to help you make a smooth transition.

Why Switching Merchant Providers Matters

Switching merchant providers can have a significant impact on your business operations and bottom line. Here’s why it matters: 


Improved Rates and Fees: Switching providers gives you the opportunity to explore competitive rates and fees that can reduce your overall payment processing costs. 


Enhanced Payment Solutions: Upgrading your merchant provider can open doors to advanced payment solutions, such as contactless payments, mobile wallets, and online invoicing, allowing you to cater to evolving customer preferences. 


Better Customer Service: Exceptional customer service is crucial in today’s competitive landscape. By switching to a provider known for their responsive and knowledgeable support team, you can ensure smoother transactions and swift issue resolution. 


Streamlined Integration: Switching merchant providers can enable seamless integration with your existing systems, making it easier to manage your payment processes and reconcile transactions.

The Switching Process: Step-by-Step Guide

Switching merchant providers involves several essential steps to ensure a successful transition. Let’s explore each step in detail: 


  1. Evaluate Your Current Provider: Assess your current merchant provider’s performance, considering factors such as rates, fees, customer service, and available features. Identify areas that need improvement and determine your specific requirements. 


  1. Research Alternative Providers: Conduct thorough research to find alternative merchant providers that align with your business needs. Compare their offerings, fees, reputation, and customer reviews to make an informed decision. 


  1. Notify Your Current Provider: Once you’ve chosen a new provider, inform your current provider about your decision to switch. Be sure to review your existing contract’s termination terms and provide the required notice period to avoid any penalties. 


  1. Set Up Your New Merchant Account: Work with your chosen provider to set up your new merchant account. Provide all necessary documentation and complete the application process promptly to expedite the account activation. 


  1. Migrate Your Payment Processes: Coordinate with your new provider to migrate your payment processes seamlessly. Ensure that your systems are compatible, and test the integration thoroughly to avoid any disruptions to your business operations. 


  1. Update Payment Methods: Notify your customers, suppliers, and any other relevant parties about the switch to your new merchant provider. Update your payment methods across all platforms, including your website, point-of-sale terminals, and invoicing systems. 


  1. Monitor and Optimise: Once you’ve made the switch, closely monitor your payment processes and track the performance of your new provider. Evaluate if the switch has resulted in the desired improvements and make adjustments if necessary. 

Frequently Asked Questions

Here are some common questions about switching merchant providers
Is it difficult to switch merchant providers?
Switching providers may require some effort, but with proper planning and guidance, it can be a smooth process.
Will I lose my current customer data during the switch?
No, your customer data should not be affected during the switch. However, it is essential to ensure a seamless integration to prevent any disruptions.
What happens to my existing contract with my current provider?
You will need to review the terms of your existing contract to understand the termination process and any associated fees. It’s crucial to provide the required notice period to avoid penalties.
How long does the switching process usually take?
The time it takes to switch merchant providers can vary depending on various factors, including the complexity of your business requirements and the responsiveness of the providers involved. It’s best to discuss timelines with your new provider and plan accordingly.
What should I consider when researching alternative providers?
When researching alternative providers, consider factors such as rates, fees, customer reviews, reputation, available features, and customer service. It’s important to find a provider that meets your specific business needs.
Can I negotiate rates and fees with a new provider?
Yes, you can negotiate rates and fees with your new provider. Take the time to discuss your requirements and explore options that align with your business goals.
How can I ensure a smooth integration with my existing systems?
To ensure a smooth integration, work closely with your new provider’s integration team. Test the compatibility of your systems and address any potential issues before fully transitioning.
What support can MAS provide during the switching process?
Merchant Advice Service (MAS) offers expert guidance and support throughout the switching process. Our team can help you evaluate alternative providers, understand contract terms, and navigate the integration process smoothly.

How Merchant Advice Service Can Help

At Merchant Advice Service, we understand that switching merchant providers is a critical decision for your business. Our experienced team is here to support you every step of the way, offering expert advice and guidance to ensure a seamless transition. We can help you assess your current provider, research alternative options, negotiate rates, and navigate the integration process.  For more advice like this, visit our blog page!



Transitioning to a different merchant provider can significantly benefit your business by availing competitive rates, enhanced payment solutions, superior customer support, and smooth integration with existing systems. 


For a small business owner, aligning with a merchant service that caters to your specific needs can help in reducing transaction fees, and offer better card readers and virtual terminals. It’s vital to consider the pricing structure, monthly fees, and whether a high risk merchant account is necessary based on your business model. With support from Merchant Advice Service, the switch can become a straightforward task, ensuring your business bank account is well-served by your new payment processing company. 


This move not only supports adept payment gateway solutions but also ensures that debit card transactions, along with credit card processors, work seamlessly to provide an efficient payment experience for your customers. Your journey towards better merchant service begins with a well-informed decision and a user-focused approach to accept credit cards and manage your payment processes proficiently.

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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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