A: A merchant account is a central bank account that consolidates your payments from credit cards, electronic checks, and other payment processing services. Essentially, it is a relationship between a retailer and a merchant bank. This relationship allows businesses to accept credit card payments. Unlike other services, money collected through your merchant account is deposited into your checking account within 2 to 3 business days. You must have a merchant account to accept credit card payments using your company name and if you want the funds deposited into your checking account within 2 to 3 business days.
