Merchant Accounts and Annual Fees

Like with many banking relationships, annual fees are charged to merchants for adminstrative and other merchant acocunt management tasks conducted by the merchant service provider. In addtion, an annual fee is a way of attaching minimums and recouping supposedly “waived” setup fees. The only difference is the wording used in the contract.

According to Wikipedia, "The Annual fee can be charged by some providers to pay for costs of maintaining the merchant's account. Sometimes these fees can be quarterly. The fee can be from $49-$399."

Unlike many other merchant account providers, Eagle Merchant Services has no annual fees on merchant accounts.

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