Well most companies have learned that you need some type of a monthly fee to help make sure you stay in business. It is usually about $10-$15 a month - called a statement / customer service fee.
And then you have an electronic payment gateway fee a month as well. (But we won't count that since it is not part of the MAP)
And then some companies have a monthly minimum that they want you to process but usually depending on your locatoin, discount rate etc, if you process over $1,000 a month, that monthly minimum has been met
Originally posted by Staedtler I'm looking for a merchants account that is reliable, has a proven track record, and does not have a monthly fee.
I have no issue paying a high transaction rate!
If you are looking for a "real" merchant account with no monthly fees and are willing to pay a higher transaction fee, which you have stated you are, then I would say take a look at www.modernauthorize.com They have a deal setup with BluePay and eonlinedata to provide you with a no monthly minimum plan and the rate is 4.95% plus .40 per transaction. they do have a one time 49.00 setup but after that...nada
The nice thing is as your business grows, you can upgrade to the lower percentage plan anytime and at that point the monthly minimum fee along with the gateway and statement fee will not be an issue. Bluepay has been in business for a long time and I use them for my business and think that you should give them a look.
If you are based outside of the U.S., I do not know of any direct merchant solution without a monthly cost.
In the U.S., there have been a couple that have had programs with an annual cost but no monthly cost, albeit at a high transaction cost.
If you are looking for a U.S. merchant account without the higher discount rates and a very minimal monthly cost (sometimes as low as $10/month), you might want to also consider using a Pay-by-Phone type merchant account setup where you process sales over any touchtone phone... or even a software-based solution.
Or, if your business is just getting rolling - you may want to avoid any setup/annual cost at all and start with a service like PayPal initially.
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