Merchant Account General Introduction

Credit card processing can be a confusing subject. Before you jump in with both feet lets give you an introduction; What merchant accounts are, what information is needed to obtain your merchant account and rates/fees involved.
What is a Merchant Account?
A merchant account is a special account that is setup for a business to accept and process credit card orders. After processing a customers credit card the transaction goes through a series of complex stages. The money transferred through the merchant account is then deposited into the business's checking account within 2 to 3 business days.
Requirements for a Merchant Account
Getting important information together ahead of time will ensure that you breeze right through your merchant account application process. Here's what you may or may not (depending on the provider) need in order to obtain your merchant account:
Checking account (some providers set you up with one but most require that you have one already. If you're a Sole Proprietor you may usually use your personal checking account, however if you're an LLC or Corporation you may need a business checking account)
A copy of a voided check (if you use your own checking account for funds to be deposited in) Articles of incorporation, business license or reseller license. - only if applicable. (A 'Certificate of Assumed Name' from your county Register of Deeds office may be all that is required. These only cost around $8.) The purpose of this is to prove you are a legitimate business.