Q) If I find a better offer, should I break my current contract?
A) Do everything you can to prevent a messy divorce. There probably won’t be any church bells when you sign your credit card processing contract, but you should still read the fine print and look for the pre-nup. Some processors can charge “early termination fees” up to $1000. Others might amortize lost revenues into their “account cancellation fee.”
When I advise potential new clients about their options – this is the #1 reason I will suggest they stay where they are until their contract ends. In many cases, you can negotiate that this clause be removed while the bidder is still hungry for your business. The best way for someone to keep your business is to earn your business with great service, during the courtship and throughout the marriage.
