Credit Card Merchant Account

njtktt

Hi
I've recently opened a furniture showroom having been trading succesfully online for about a year. I have been using PayPal for my online transactions and found this to be fine if somewhat expensive.
Now that we have the showroom we really need to have a PDQ machine to be able to process payments face to face.
I asked my bank for a machine and merchant account but they declined me. The business has been trading well but personally I have had financial problems following redundancy two and a half years ago. Unfortunately my credit file looks a bit grim (CCJ - satisfied, late/overdue payments etc) and the bank tell me that a merchant account is considered a "facility" and therefore is subject to status.

Is there any hope?!!

want2Bdebtfree

We have been in business for 6 years and the company has had its financial problems, but we changed from Barclaycard to Cardsave last year and were quite concerned that we may be refused but they accepted us regardless.
If you want the details I'll dig them out for you

njtktt

Hi there and thanks very much for your reply. If it is not too much trouble for you, I'd be really grateful if you could let me have any further details. Thanks again

want2Bdebtfree wrote: »

We have been in business for 6 years and the company has had its financial problems, but we changed from Barclaycard to Cardsave last year and were quite concerned that we may be refused but they accepted us regardless.
If you want the details I'll dig them out for you

TCM_3

Hi there
Are you a member of the Federation Of Small Business? They may be able to help you. I have got better terms with my Streamline terminal through them. A credit card machine that is electronically linked is a far safer way of payment going into your bank as you can see if something is approved straight away rather than taking a risk that a cheque might not clear.
T

ukbill69

Have a search in this forum for "merchant account" there is lots of people ask this all the time.