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A merchant account is a type of bank account that allows businesses to accept payments made by their customers using a debit or credit card. In other words, a merchant account is an agreement between three parties: a retailer, a merchant bank, and a payment processor for credit and debit card payments. When a customer pays for their purchase using a credit or debit card, the funds are first deposited into the merchant's account and then transferred further to the company's bank account. Bank transfers are usually arranged daily or weekly.

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