This term merchant account refers to the an account held by the merchants who accept various payments on the goods and services they sell, that have been purchased by consumers through credit card or debit card payments. It is also regarded as an agreement between the store owner, and the bank to ensure the account is settled.
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All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.