What to look for in any merchant contract
Term length
Most UK merchant agreements run 12–48 months. Longer terms often come with lower headline rates.
Notice period
Commonly 30–90 days before the end of the term. Miss the window and the contract may auto-renew.
Terminal hire
Often a separate document with its own length, which can extend past the merchant contract.
Rate review clauses
Some contracts allow the provider to adjust pricing annually. Check the wording carefully.
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Start free reviewWhy two contracts is the norm
Most providers split the merchant account agreement and the terminal hire agreement into two separate contracts. Cancelling one does not automatically cancel the other, which is one of the most common causes of unexpected bills.
Key takeaways
- ●Always check both the merchant and terminal agreements before any decision.
- ●Identify the notice period in writing and put a reminder in the calendar.
- ●Auto-renewal clauses can lock a business in for another full term if missed.