Hello,

I am looking for a Merchant Account for a Registration.

I am expecting to have to do between 250,000 and 500,000 in Credit Card and Check Transactions...over the span of 12 months

What is the best place for something like this, looking at authorize.net, 2checkout seems to be the most popular...

Are there some that are better or cheaper?

Thanks, I know this isn't exactly a host related question...but since most hosts have a merchant account somewhere, I thoughy you guys could help...

EDIT: Does anyone know about online check processing, is there someone that does credit cards and checks, or am i gonna need to different accounts...

Well the answer really depends on how you are charging your clients, on a monthly, quarterly, semi-annually, or annual basis? If you are charging your clients on a monthly basis then I would use www.echo-inc.com as they are great. If you are charging clients on any term greater than 1 month then go with an authorize.net account as they are the most widely used merchant gateway.

These are all one time charges...
About $250- $400 a pop....

About 1500-1750 Transactions

then go with an authorize.net reseller. From my time spending researching this, I found the companies who have the best authorize.net rates are
www.ezmerchantaccounts.com (talk to Barry)
www.merchantexpress.com (talk to Joy)

http://www.onlinedatacorp.com cheapest I have seen so far, and I believe cheaper than anyones in this board, and with instant account activation :)

Maybe my math is wrong.

Originally posted by HostInspect
http://www.onlinedatacorp.com cheapest I have seen so far, and I believe cheaper than anyones in this board, and with instant account activation :)

Maybe my math is wrong.

How can they set it up instantly? Normally they do credit checks, sounds dangerous to go with someone who doesnt.

I recommend http://www.ematic.com [Talk to Brian] They provide excellent service - no complaints so far - only fast response, great support and answers to all of my questions . :)

Be aware, that with that level of sales, it is likely there may be some wiggle room, or negotiaitng room, no matter who you go with.

The card compnaies charge a certain percentage, but I believe that their distribution channels, (merchant account sellers) then tack on a tiny percentage, or perhaps get a portion of monthly fees.

So, it does not hurt to ask..because a quarter percent of 250,000 is better than a half percent of nothing from the merchant sellers point of view.

I like authorizenet because of its extensive fraud protection options.

Regards
Deja

They instant setup automaticly on you to be able to accept credit cards right away. Then you need to fax them a VOID check so they can transfer the funds to your bank every 12:18AM CST. This is what I like fund are deposited every day.
Originally posted by brandonk


How can they set it up instantly? Normally they do credit checks, sounds dangerous to go with someone who doesnt.

Originally posted by HostInspect
http://www.onlinedatacorp.com cheapest I have seen so far, and I believe cheaper than anyones in this board, and with instant account activation :)

Maybe my math is wrong.

Just wondering what the rates are, seems as some of the rates posted on this board are VERY cheap.

Originally posted by insiderhosting


Just wondering what the rates are, seems as some of the rates posted on this board are VERY cheap.

Sir,

We are very HAPPY with Online Data Corp. We loved them and we are not going to move to other merchants. They are for real, you signup and get them instantly. Most merchants wait days and sign papers stuff. They dont do that. Just signup, fax a void check, expect 48 hrs, first time deposit will be sent then every 24 hours funds depoisted.

I and OnlineData have a good realtionship and we will contiune to do business with them.

We will soon sell web hosting billing software that will work with BluePay (Online Data Corp Payment Gateway) for all new merchants signup with us. This will be a good killer one, I hope.

I am just tired seeing people coming to this board and whine telling 2checkout is down, recevom is down, too many problems, hostcharge is not available, delays and other merchant are too costy, cant afford setup fee. Geesh, this needs to stop and be a growups and start get your OWN merchant account so you will stop whinning. This is business. You pay what you get, period.

If you need help with merchants, contact me.

You guys have a nice day!

Thank you.
Regards,

I'm sorry if I sound skeptical, but are these companies I can trust, like onlinedatacorp seems to have the lowest rates, but i have to present this proposal to a commitee, and when it's a company no one is ever heard of, and money in such a large amount, I think they will worry...

Am I just worrying to much, and just figure something out with onlinedata?

Thanks...

Originally posted by DealSpree.com
I'm sorry if I sound skeptical, but are these companies I can trust, like onlinedatacorp seems to have the lowest rates, but i have to present this proposal to a commitee, and when it's a company no one is ever heard of, and money in such a large amount, I think they will worry...

Am I just worrying to much, and just figure something out with onlinedata?

Thanks...

That will not be a problem, contact me and I ll help you to get this more clearly, I think your afraid about the fees they are charging, correct?

Online Data Corp charges a $99.00 recurring annual fee. Most Authorize.net resellers charge a one-time setup fee.

We use Online Data Corp as well and I fully believe they're very good. I myself have nothing against them. We have no problems so far and they have great phone support and Matthew from there is a really cool guy as well as Tony..

Originally posted by TimPD
We use Online Data Corp as well and I fully believe they're very good. I myself have nothing against them. We have no problems so far and they have great phone support and Matthew from there is a really cool guy as well as Tony..

I have to agree with TimPD too. OnlineData is a very good merchant services you wont find elsewhere.

I like some reps there, very cool and very helpful.


option:

Online Data Corp charges a $99.00 recurring annual fee. Most Authorize.net resellers charge a one-time setup fee. This fee is ONE time every year not every month or else. It is for to cover all the services, You can get it wavied if you upgrade to upper level meaning higher transcation fees otherwise stick to it.

If you think you're going to do that level of sales then get a real Merchant Account with a reputable company. I recommend checking out BankofAmerica, Fleet, or WellsFargo. (add .com to each to get the respective websites) . They will give you good rates and quality service.

Originally posted by NetMongol
If you think you're going to do that level of sales then get a real Merchant Account with a reputable company. I recommend checking out BankofAmerica, Fleet, or WellsFargo. (add .com to each to get the respective websites) . They will give you good rates and quality service.

Sir,

Not to metion, most of them charge as much as $495 setup fee and little higher transcation charges.

I can beat thier deal, no problem. However, People cant afford these setup fees etc that much so please double think about that.

Thank you.

If he expects to be doing $400k+ yearly in processing then he should be able to afford $400 in setup fees. You are right, the setup fees are steep but if you're processing a reasonable amount you can easily recoup that because most do not charge a per transaction charge that many of the online companies do.

Someone can always offer a better deal. But the difference is that this is being done by someone such as Bank of America, not Joe's-Credit-Card-Processing. Joe has less overhead and can offer lower prices with less markup. But Joe's is not the same as Bank of America plain and simple.

Last time I checked, BofA and Wells Fargo required 2 years in business.. but with that high volume of transactions (and of course their profit) they may close their eyes... the economy is low currently.....

Apollo

www.merchantexpress.com (talk to Joy)

I second this one. Very easy process, I have been highly satisfied.