I have had a online savings as well as a checking account with them for the last 8 months.

Anyone here can tell me what it costs to have a merchant account with them or is it better if i jsut go with CDGcommerce.com?

In any case please let me know what its gonna cost me at hSBC merchant services?
I am also in the process of trying to contact them but would also want to her from soemone here.

thanks

I dont know about HSBC but about 3 mo ago I applied at CDG and after submitting all their crap they wanted a rolling reserve, a deposit, and a cosigner this might not be a problem but if your considering them check out this outfit: http://www.995merchantaccounts.com/ it ends up being about $20/ mo + your transaction fess and their service has been great. I'm suprised no one talks about them on here.

HSBC is a large multi-national bank. However, for most of their merchant services they delegate that to ISO/MSP's like Global, TMS and others from what I have seen in the industry.

For an Internet merchant account, most banks are not well equipped to handle the many unique nuances, technical support & risk management and so it is logical for them to outsource those functions to other companies.

For bricks-and-mortar type accounts like retail stores, restaurants, hotels/motels - it makes less of a difference whether you get your merchant account from a bank or an ISO/MSP although usually you'll find more aggressive pricing and promotions from a non-bank merchant provider.

Keep in mind that you would still be able to keep your existing checking & savings accounts with HSBC even if you utilized a merchant account from another provider with a different sponsoring bank - all of the funds are deposited just the same into your existing bank account.

Lastly, regarding the comment on CDG requiring a rolling reserve or co-signer, that is definitely not the norm. I would say that around 1% of our total applications require one or the other and typically it is due to either an unverifiable or low credit score and/or a combination of business/industry risk factors.

For 99% of the merchants that we board each month, there is NO reserve requirement whatsoever, NO co-signer requirements and NO deposit of any kind needed. This is also true for most other merchant processors as well, the kinds of stipulations mentioned above are the exception to the rule - not the norm.

Try merchantaccounts4less they never ask you to send any documentation till your account is in good standing and also they take a digital signature so no need to sign and send them the merchant agreement. The whole process is online and they would get you up and running in just 2 business days.

We have an Internet merchant account from HSBC in the UK. There is no charge for the actual merchant account setup. Discount rates are set according to the payment currency and individual business but should be in the 3.0 to 4.2% range. We also use HSBC e-Payments and there is a UK Pound 200 setup fee for the account (payments in US$ Euro and UK Pounds).

webwrigh (http://www.webhostingtalk.com/member.php?u=118322) vbmenu_register("postmenu_3565643", true); did HSBC asked for any previous processing history before they setup a Internet Merchant Account for you?

The only questions HSBC asked related to the volume and value of transactions. I have both personal and business accounts with HSBC so maybe that helped.