The two big drawbacks for me in this offer are: * The contract gives them the right to demand that I pay for anything that they spend investigating their "rights, remedies, and security interests". Not if I sue them. Not if they win. ANYTIME. I could send them email, and get back a bill for the employee time spent answering it. And I've agreed to pay such bills, if I sign their contract.

13. Costs, Expenses and Interest. Customer, on demand from Bank, shall pay to Bank all costs and expenses incurred or paid by Bank for any reason in connection with this Agreement and relating to protecting, enforcing and determining Bank's rights, remedies and security interests, including but not limited to, attorneys' fees and costs . . .

* You pay 4% -- in the BEST deal -- on every transaction. The high-initial-fee merchant account still charges you 2% on the way in, and 2% on the way out. You don't even have to spend any of it, you pay for just moving money among your accounts. If both payer and payee are using one of the low-initial-fee accounts, the total loss could be as much as 10%. There's lots of little drawbacks too. I sure hope the competition arrives soon. John