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Thread: Merchant Account Rates?
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10-28-2002, 03:02 PM #1Aspiring Evangelist
- Join Date
- Apr 2002
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- Fort Wayne, IN
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- 418
Merchant Account Rates?
Do these rates seem good for a Merchant Account? This stuff gives me a headache
- $99.00 Authorize.net payment gateway license
- No merchant account application fee
- 2.29% discount rate (Visa & MasterCard)
- $0.30 network connection fee (per occurrence)
- $0.10 interchange fee (per occurrence)
- $10.00 monthly gateway fee
- $10.00 monthly bank statement fee
- $25.00 monthy processing minimum
If you know of something better please suggest it. I definitely want to use Authorize.net and defintely do not want to use PayFlow or anything else from Verisign. Any time I deal with Verisign I have to take an Advil afterwards.NxTek Solutions Inc - www.nxtek.net
Award-winning Hosting, Development, and Ecommerce Solutions
Locally-owned and operated Datacenter since 1999
There is no best pizza, only the pizza that's right for you.
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10-28-2002, 04:20 PM #2Web Hosting Master
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- Jul 2002
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- 1,021
Not bad but those monthly fees seem to add up quick. You may be able to find similar merchant accounts with the same features but with less monthly fees (slightly)
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10-28-2002, 05:12 PM #3Aspiring Evangelist
- Join Date
- Apr 2002
- Location
- Fort Wayne, IN
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- 418
Any suggestions?
NxTek Solutions Inc - www.nxtek.net
Award-winning Hosting, Development, and Ecommerce Solutions
Locally-owned and operated Datacenter since 1999
There is no best pizza, only the pizza that's right for you.
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10-28-2002, 05:54 PM #4Aspiring Evangelist
- Join Date
- May 2002
- Posts
- 431
I've yet to find a merchant account with lower monthly charges. The best I could find was the merchant account from ModernBill. Their monthly amounts are the same but no setup for Authorize.net and they have low discount and per transaction fees.
Jordan Bouvier
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10-28-2002, 05:55 PM #5Web Hosting Master
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- Jul 2002
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- 1,021
Wells Fargo
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10-28-2002, 05:57 PM #6Aspiring Evangelist
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- Jul 2001
- Location
- St. Louis
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- 379
The rates seem in line with the norm. I think it depends upon your volume if you can justify the monthly minimums and fees.
We have been using Authorize.net for some time and are very happy with their service.Brad @ Xiolink
XIOLINK. Your data...always within reach.®
http://www.xiolink.com
1-877-4-XIOLINK [+01 314 621 5500]
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10-28-2002, 06:26 PM #7Account Disabled
- Join Date
- Apr 2000
- Posts
- 1,726
Wells Fargo is great, but their setup fee when we got our account was $149 if i remember, other then that, I found that they block alot of countires, and support is cumbersome, they tell you to call authorize.net for merchant info (IE: merchant info, not authorize.net help) then anet tells you to call wells fargo, and it goes like that for about 3-4 calls
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10-28-2002, 06:43 PM #8Aspiring Evangelist
- Join Date
- Jul 2001
- Location
- St. Louis
- Posts
- 379
Merchant accounts, like many other businesses go through agents to sell their services.
For our Authorize.Net account, we used http://safesolutions.com. Michael was our contact. He was great to deal with and has been very helpful after our account was set up to work with Authorize.Net. We needed a credit line increase to keep up with our growth and he was able to help us work through the process very quickly.
I highly recommend them!Brad @ Xiolink
XIOLINK. Your data...always within reach.®
http://www.xiolink.com
1-877-4-XIOLINK [+01 314 621 5500]