Hi,

I decided to get real merchant account and I have a couple of questions.
How hard is to get real internet merchant account in Canada?
What are the average expenses to get real merchant account?
Are there any monthly fees associated with your merchant account?
What is the normal % charged from the total transaction?
Do you know banks/companies in Canada that offer merchant accounts?
I need links to web sites with general information about internet
merchant accounts (if they are for Canada would be better).

Thanks for your help,
Peter

Hi,

I don't have single replay to my questions.
Are there any Canadians with merchant accounts at all? :laugh:

Peter

check Bank of Montreal and Royal bank (http://www.moneris.com/)

TD Canadatrust (http://www.tdcanadatrust.com/merchantservices/index.jsp)

Scotiabank (http://www.scotiabank.com/cda/eventindex/0,1604,LIDen_SID20,00.html)

a quick search will find all the information you need

Hi:
The best solution that I could find is:

http://www.revecom.com

The costs are good, and it is very easy to setup. You should only go to the banks as a last resort and only if you plan on being able to fork over anywhere from $500 to $1000 not including monthly fees. If you think I'm joking just give one of them a call.

You could of course do what I did and search and search and search. There are lots of ecommerce providers in the US who say they will set up a merchant account for you in Canada. The catch is you have to have an account at an actual bank in the US. Not to mention a few other hoops you have to jump through.

The only other one I came close to signing up with in the US was:
paybyweb.com
But that was only because I was able to use my Royal Bank US account as the US bank account. But then I still had to order checks from their US bank affiliate and then I would have to fax copies of my birth certificate, drivers licence etc. etc. etc.

Good Luck in your search. If you want more info you can send me an email.

DPerley

Sfcommerce.com its a canadian Company, we got our Merchant account from them.

Jedito,

Can you give-up any more information on Sfcommerce.com ?

Such as how good their supprt is and what the set-up/monthly cost is?

We are a canadian company as well and are looking for a on-line payment solution. I have checked out Revecom.com but would like something that's canadian, if I can afford it.

thanks
-Jeremy

I don't know if they changed the rates now.
The latest information that I got was.

$300 Setup Fee
2.35%+$0.25 per transaction.
$15 Minimun monthly fee.

PSIgate.com is pretty good. They are $199. (canadian) set up fee and 50 or so a month .... accounts are set up fairly quickly, and they are pretty easy to set up.

Hope this helps,
Karen

Jedito,

Are this CAD or US?

$300 Setup Fee
2.35%+$0.25 per transaction.
$15 Minimun monthly fee.

US dollars.
The only bad side of Sfcommerce its that they do not support recurring billing, you have to manually charge all your customers every month:bawling: :bawling:

Revecom is only $49 setup fee. No other monthly fees. You do pay more for the transactions fees - $1 per and 3.95%.
But if you want the lowest fees then go to the bank but like I said before be prepared to spend up to $1000 just to set up the account. Then they will charge you 3 or 4 other monthly fees. And like all other services with banks if you don't like it they really don't freaking care.

If you are trying to build your business and you should be using a budget use a service like Revecom until you can afford an account directly with one of the banks.

With the difference between a Revecom and a SF account you could process your first 250 transactions with Revecom and still be ahead the $15 a month to offset the higher % fee.

Good Luck with your choice, I know it's not an easy one. I spent more time on this issue than on any other when starting out.

DPerley

Originally posted by DPerley
Good Luck with your choice, I know it's not an easy one. I spent more time on this issue than on any other when starting out.


Yes. agreed. this does take a lot of time :) I had to setup a merchant account for a non-profit organization and finally ended up with http://www.internetsecure.com

Haven't got it yet, but hopefully it would be setup soon :)

I wish one day we have no setup / no monthly / 1% merchant accounts :)