Everything you need to know about merchant accounts — how they work, what they cost, and how to get one.
A merchant account is a type of bank account that allows your business to accept credit card and debit card payments. When a customer pays with a card, the money doesn’t go directly to your bank account — it flows through your merchant account first, where the transaction is processed, verified, and settled.
Think of it as the bridge between your customer’s card and your business bank account. Every business that accepts card payments — whether in-store, online, or mobile — needs a merchant account or a payment facilitator (like Square) to process those transactions.
Here’s what happens in the 1-2 seconds when a customer taps or dips their card:
Your merchant account provider (AGMS) handles steps 2-5 behind the scenes. You just see the money hit your bank account.
There are two ways to accept card payments:
Bottom line: Payment facilitators are easier to set up but cost more and offer less stability. A merchant account through AGMS gives you lower rates, better support, and your own dedicated account.
Merchant account costs include:
Setting up a merchant account through AGMS is straightforward:
No setup fees, no hidden costs, and dedicated support throughout the process.
A merchant account is a bank account that lets your business accept credit and debit card payments. It processes, verifies, and settles card transactions before depositing funds to your business bank account.
You need either a merchant account (through AGMS or similar) or a payment facilitator (Square, Stripe). A merchant account gives you lower rates and more stability.
Through AGMS, most merchant accounts are approved within 1-2 business days. You can start processing payments within a few days of applying.
A business bank account holds your money. A merchant account processes card transactions and deposits the funds into your business bank account. You need both to accept card payments.
