Powersellersunite Power Sellers Unite
Bringing Buyers and Sellers Together
 

Merchant Services
Click here to go to the original topic

 
       Power Sellers Unite Forum Index -> Merchant Accounts
::  
Author Message
greedygert



Joined: 26 Jan 2005
Posts: 17

Posted: Sat Feb 05, 2005 5:52 am    Post subject: Merchant Services  

Merchant Accounts are for people who do a large volume of transactions and need a monthly service. This is equivalent to a store front business having a credit card and banking service.

Charge.com
They have NO application fee, NO setup fee, $.05 per check for checks by web, 2.39% plus $.25 fee for credit cards, fast approvals, and seems ideally tailored to small and individual businesses.

Past credit problems not a problem. Users of this site have reported excellent success rate getting a merchant account there. Does not accept international or adult merchants at this time. When you close down your account, they charge you $75.00. They don't tell you this until you signup.

Paybyweb.com
Paybyweb.com has been online since 1998 (in business since 1992) and provides merchant accounts set up in one business day for most business type, including online pharmacies, adult, merchants on TMF, and other high risk merchants. Low risk accounts begin at 2.19% and .30 per transaction with no set up fee! High risk accounts have a $60 setup fee (refundable if you are not approved) and rates comparable to the market. Also provides online checks, EFT's, bank verification, IVR, etc.

Intelli-Collect
Intelli-Collect: is trying very hard to setup people with their own merchant accounts. They do e-checks and credit cards. Credit Cards: Swipe rate of 1.59% + .19 and MOTO/Internet rate of 2.17% + .24, E-checks flat rate of .25-.50 per transaction.

The above three sites where recommended by our friends from paypalsucks.com. Make sure to do your research before signing up with any merchant account service. Powersellersunite.com does not endorse any of the above sites.
Back to top  
ldgifts



Joined: 07 Feb 2005
Posts: 249
Location: lamps.LDGifts.com

Posted: Mon Feb 07, 2005 5:46 am    Post subject: Re: Merchant Services  

I started to sign up for Charge.com, but stopped when I saw they will charge you $75 to close your account. I had problems with one merchant account, and don't need to be charged if I have another.

Thanks for the links, though.

LDGifts
Back to top  
greedygert



Joined: 26 Jan 2005
Posts: 17

Posted: Mon Feb 07, 2005 3:31 pm    Post subject: Re: Merchant Services  

Does that information become available during the sign up process? Is there a termination fee if you close within a certain time frame or do they charge you that regardless? What is your experience with other Merchant Services?
Back to top  
ldgifts



Joined: 07 Feb 2005
Posts: 249
Location: lamps.LDGifts.com

Posted: Mon Feb 07, 2005 4:27 pm    Post subject: Re: Merchant Services  

That info does not come available until the very end of the sign up process on the actual application. I didn't like that, either. I like to know all costs up front, and feel I am being lied to if they don't show me beforehand.

I was with GoEmerchant in the past. Not only did I have to wait 2 weeks for my money to hit my bank account, that they set up. When I tried closing it down, they sent me an email to fax something to them, but it got sent back to them because I did not have enough space in my email box. Instead of them calling me, or writing a short email to let me know, they just continued to charge my credit card for monthly fees. Not only that, but they never gave me info on the actual bank...or told me I had to close that account separately. They never faxed my info to the bank. I was very displeased...they were out to get money.

Well, that is my experience with a merchant account. I think my bank uses wells fargo, and since they are our mortgage company also, I may try them. I will look into it.
Back to top  
sapphiresdelight



Joined: 26 Jan 2005
Posts: 60
Location: Maple Ridge BC

Posted: Tue Feb 08, 2005 1:45 am    Post subject: Re: Merchant Services  

Hi greedygert,
Thanks for the information, I will checking a them out this week.
I really need to get a new service for my website as I have no intent to keep with an ebay afilaite paypal for too much longer.

United We Stand
Margaret
Back to top  
elphin



Joined: 08 Feb 2005
Posts: 6
Location: Monterey Bay California

Posted: Tue Feb 08, 2005 2:33 am    Post subject:  

I use www.paymenow.com but if you only have a few transactions to process I would suggest www.propay.com it's basically $40 a year then a transaction fee per transaction. That way there is no termination fee. If you choose not to renew you're already paid for the current year.
Back to top  
bigmooselodge



Joined: 29 Mar 2005
Posts: 143
Location: Big Moose Lodge

Posted: Wed Mar 30, 2005 1:56 pm    Post subject: Re: Merchant Services  

If your looking for a true Merchant Account for accepting credit cards without paying the price of a third party service, contact your local Wholesale Club, eg: Sams Club, Costco. They all have financial departments that cater to small and large businesses.

We dropped paypal fees altogether and are paying LESS now with our own Merchant account.

Plus the fact that you are in control of any potential fraudulent charge backs instead of having the 3rd party fight on your behalf.
Back to top  
Lisaweb



Joined: 31 Aug 2006
Posts: 11

Posted: Mon Sep 04, 2006 7:31 pm    Post subject: Re: Merchant Services  

bigmooselodge wrote (View Post): › docWrite("quote")If your looking for a true Merchant Account for accepting credit cards without paying the price of a third party service, contact your local Wholesale Club, eg: Sams Club, Costco. They all have financial departments that cater to small and large businesses.

We dropped paypal fees altogether and are paying LESS now with our own Merchant account.

Plus the fact that you are in control of any potential fraudulent charge backs instead of having the 3rd party fight on your behalf.

I looked into Costco merchant accounts (via Nova), and they are the cheapest I've seen, so far. http://www.novainfo.com/costco/index.asp

They also provide a gateway, via "viaKLIX"

Any one have any experience with either of them? And can they be used to process payments through Ebay?

Thanks.
Back to top  
mac



Joined: 20 Sep 2006
Posts: 9

Posted: Wed Sep 20, 2006 5:01 am    Post subject:  

Also you can check with ChronoPay.com they have no monthly or annual fees, they provides everything you need to accept and process payments by credit and (some) debit cards online. They are reputed and reliable payment processor with intelligent fraud protection system.
Back to top  
Blue77



Joined: 07 Feb 2009
Posts: 1

Posted: Sun Feb 08, 2009 12:04 am    Post subject:  

Watch out your credit card processor, don't matter they are big or small, they can do more harm to your business than the credit card fraud itself.

I have a web site selling printer supplies as well as some office supplies. I was using Elavon, formerly call Nova, affiliated with Costco and a subsidiary of US Bank, as my credit card processor for last 2 years. Last October, they suddenly withhold my account before even notice me there was a inquiry request. The inquiry request was issued because the accounting department of my customer fail to recognize the transaction but later their boss clarified the transaction was totally legitimate. However, even with all document and explanation sent to Elavon, they ignored the fact and making up their own explanation. Elavon kept withholding money from my account, and later cancel my account without any reason provided. I even could not get access to contact the department took the action against me.

Later, it got worse, Elavon went into my bank account tried to withdraw $23000 ($23000 is an unknown amount, even the transaction with inquiry was about $9000). Even they did not took all $23000 but successful took all the cash in my account including the overdraft. Certainly, I made complaint to Elavon as well as the Federal agencies. Elavon not only provide no explanation but insisted they have all the right to do so.

At this moment, my business had almost immediately shut down. With no cash, and credit card processing account canceled, I even do not have the money to pay tax. Fortunately, I got some corporation accounts and they just paid in time to ease the problem.

After I brought my complaint to OCC (Comptroller office of Currency) and FTC, Elavon finally provided some reply in writing and they said they took the money because of "future obligation." The explanation is totally ridiculous, I did not have any chargeback or complaint, the only inquiry request was settled a month ago, the future obligation is not exist. Furthermore, In November, Elavon tried again to withdraw money from my bank account and this time in the name of service charge. However, the charge they tried to withdraw was more than the statement stated and again no explanation provided.

I was forced to close my account then and Elavon used it as a reason to withhold my money for 2 more months.
Not until January, 3 months after, I finally got my money back but Elavon already deducted some unknown charges without any explanation.

Credit card processing is basically a un-regulated industry. As the banking system in turmoil, credit card processors associated with banks can easily using any excuse to steal money from merchant to cover up they financial problem. Unfortunately,merchants' money is totally unprotected, not by FDIC or any specific agency. And even if you have complaint, the federal agencies are reluctant to take care.
Thanks
Ken
Back to top  
 
       Power Sellers Unite Forum Index -> Merchant Accounts
Page 1 of 1




Powered by phpBB © 2001, 2002 phpBB Group