Does anyone here have one? I am going to need one for my retail website and would like to know how difficult the process was. My credit is clean now (Yea!!!) ....no negs but my debt ratio always appears high because I use my cards for my business. Will this be a problem? Any suggestions or help would be appreciated.
Yes, merchant accounts are just like any other lines of credit. They will do a credit check on the principles of the company. How difficult are they to get? Depends how much credit you want. Not many banks offer merchant accounts for internet biz. You'll pay a higher discount rate, meaning charge per transaction. You may want to consider using a third party to process your transactions, you won't need a merchant account. Having a merchant account can turn out to be expensive. Especially for an Internet based business. Check out these third party processors, they have been in business for a long time. What ever you do make sure the bank or processor you choose is in the U.S. http://www.ibill.com http://www.ccbill.com or try here: http://www.authorizenet.com/
Check out these third party processors, they have been in business for a long time. What ever you do make sure the bank or processor you choose is in the U.S. http://www.ibill.com http://www.ccbill.com or try here: http://www.authorizenet.com/ [/B][/QUOTE] I have a merchant account and agree with the above. Especially if you're just starting the retail site, you may want to experiment by using a third party company. If you get a merchant account and end up having to lease a terminal as well, you'll end up getting locked into a 5 year lease of some sorts, and God forbid, if you're business isn't successful, you'll still be locked into that non-cancellable lease. Try paypal.com too. It's becoming more acceptable along with the others mentioned. It provides the same service you would get with a merchant account.
Thanks for the replies. I will check into those sites. We have been using Paypal for the last couple of years. I run a full time business selling on ebay so I am not really concerned about a lease. We have been at this for a while and are confident in the amount of business we can do month to month. It should only increase with the addition of the website and proper promotion. Even if the website fails I would still like a merchant account for ebay and the occasional shows that we do. So in addition to the 3rd party sites, can anyone recommend a real merchant account that they have had a good experience with, and give a description of what the process was like? I know there are a lot of crappy companies out there and want to make sure I find a good one. Thanks again for the info.
Hello Jen. If your still looking I am in the merchant account business and would not steer a fellow-credinetter wrong. I can at least let you know what to expect and the associated cost/benefits of a 3rd party vs. your own merchant account. You can reach me at drm13@hotmail.com if interested. Best of luck.
I have a merchant account. Ive been using QuickCommerce for over 2 years now and am really happy with them. Honestly I dont remember what we pay, it comes out automatically each month but I think its somewhere around $39 per month plus discount fees, and statement fees. I signed up here http://www.qc123.com/qc/oleani/ Misty
