Help needed ref merchant services and business account

paulwf

bigcatman wrote: »

is there any other good reliable business banks out there that offers FREE banking

My advice would be to choose the best possible bank that works for you...I understand that cost is an important factor but isn't the only consideration. There are plenty of tips to keep transaction costs to a minimum and most banks give an initial 18 months for free.

In the grand scheme of things banking fees probably won't be your largest professional fee.

miche

bigcatman wrote: »

Got to agree with you I'm afraid.
I've been looking into other merchant account suppliers and I've found one that is cheaper than FSB merchant rates.
I approached FSB and asked if they could match or even beat the quote I received and I was told that the prices they quote are fixed and they cannot move from them.
So, sorry FSB you've lost a customer.

hi bigcatman,
i've been following this thread as i am in the same situation: trying to find a competitive merchant account to use with sagepay. can i ask which merchant account supplier you went for in the end?

sandiep

Please make sure though that you do know who it is that you are dealing with. There are many payment companies out there offering good rates, cheap alternatives etc, but google Patrasys to see a good example of how cheap card processing isn't always the best option.

Personally, i'd rather pay a few quid more each month safe in the knowledge that i'm dealing with company with a bit of credibility.

bigcatman

miche wrote: »

hi bigcatman,
i've been following this thread as i am in the same situation: trying to find a competitive merchant account to use with sagepay. can i ask which merchant account supplier you went for in the end?

Hi there,
We decided to go with acceptcards as they seem to know what they are on about.
We have heard quite a few good things said about this company, so we had a chat with the Director and the process is going through.
I will say they are allot cheaper than Elavon, but the PDQ machines are a little expensive as they are going through 123.
If you want further information, please feel free to give me a shout.

bigcatman

Just wanted to say, thank you to all the people who have replied to this thread.

abigbill

Hope this helps soemone:

Our rates

===========================
FSB Streamline Rates @ Aug 2010

All cardholder not present

We pay Sagepay £20.00 per month

Merchant a/c via Sagepay MOTO (Mail Order Tel Order)
M/C 1.295%
Visa 1.295%
Debit Maestro/Solo 18p
Debit Elctron/Visa 18p
JCB 30.5p
Maestro 18p
Maestro inter 1.295
Commercial Cards 1.795%
Refunds 0p per transaction

Merchant a/c via Sagepay Internet Cart Sales
M/C 1.345%
Visa 1.325%
Debit Maestro/Solo 18.05p
Debit Elctron/Visa 18.550p
JCB 1.845p
MaestroUK 18.05p
Maestro Inter 1.345%
Commercial Cards 1.845p
Refunds 0p per transaction

Dionne terminal @ 14.95 per month Lower tx rates than above. Never used so just closed term a/c Used to be 0.5% lower. Not sure now. Not relvant to us. Should be lower thatn 'Not present' sales
===========================

Never seen better. Join FSB!

Can anyone get Paypal down in price??

martindow

abigbill wrote: »

Hope this helps soemone:

Our rates

===========================
FSB Streamline Rates @ Aug 2010

All cardholder not present

We pay Sagepay £20.00 per month

Merchant a/c via Sagepay MOTO (Mail Order Tel Order)
M/C 1.295%
Visa 1.295%
Debit Maestro/Solo 18p
Debit Elctron/Visa 18p
JCB 30.5p
Maestro 18p
Maestro inter 1.295
Commercial Cards 1.795%
Refunds 0p per transaction

Merchant a/c via Sagepay Internet Cart Sales
M/C 1.345%
Visa 1.325%
Debit Maestro/Solo 18.05p
Debit Elctron/Visa 18.550p
JCB 1.845p
MaestroUK 18.05p
Maestro Inter 1.345%
Commercial Cards 1.845p
Refunds 0p per transaction

Dionne terminal @ 14.95 per month Lower tx rates than above. Never used so just closed term a/c Used to be 0.5% lower. Not sure now. Not relvant to us. Should be lower thatn 'Not present' sales
===========================

Never seen better. Join FSB!

Can anyone get Paypal down in price??

Are these rates fixed? Streamline normally charges high rates for low turnover and lower rates as turnover rises.

Ogion

Hello All,

First post - please be gentle

Does anyone suffer from the following - and how have they dealt with it? Apologies if this is off-subject perhaps you could tell me where to go if it is

My company is a holiday accommodation agency. 97% of my turnover is online payments using credit cards. I use Sagepay and Global Pay (formerly HSBC Merchant Services). SInce HSBC sold (me) out to Global Pay I have been required to provide a security deposit to underwrite my transactions that equates to 33% of my monthly turnover since they base their risk assessment on the maximum exposure that they perceive is posed by the company. This seems extortionate - it is made worse because we hold clients' payments for a period and release it to the property owner once the holiday is completed to the client's satisfaction.

Does anyone else suffer in the same way?

Thanks for listening!

Ogi'