What are the benefits of a Personal Merchant Account? In general it is very easy to qualify for a Personal Merchant Account. For high-risk or low-volume businesses that have trouble qualifying for traditional accounts this may be a good solution. Also, while the discount rate and transaction fees tend to be higher, personal merchant accounts usually don't charge other fees typical of traditional merchant accounts, like gateway fees, statement fees, etc. Who should use a Personal Merchant Account? If you're a very small business, or don't qualify for other types of merchant accounts, this type of merchant account may be right for you.