Hello, I have been selling on ebay for about a year now and I currently use paypal as my payment proccessor and I accept money orders. I would like to setup a merchant to sell clothing and apparel but I was told merchant accounts hold the funds until a investigation begins with tracking order ? I am not quite sure if anyone have any feedback or resellers which can guide me and show me the precautions with a merchant account that would be great.
Most processors do not hold the money. Some might until you have proven yourself but it is usually only for a few days. If you were selling high risk items, there might be a 10% reserve.
Clothing is very tircky because a lot of times it just does not look the same. If you have been successful with very little chargebacks, that can be a good thing and you might look into a merchant account processor in conjunction with Paypal.
So, it's pretty easy to get merchant acc in the USA. This would be a good option for you as 3pp would have worse rates. Actually the personal merchant accout is the only possible option ( I mean profitable ones) for you to accept credit cards payments. There are good agents at WHT, Corey Bryant, CDGcommerce, they would give you all needed info on merchant accs and payment gateways. Good luck!
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Consider a true merchant account. Since you are located in New york, you would have no problems getting a merchant account. You would more than likely be approved in less than 24 hours and I doubt that you would have any hold back (but I leave that up to the real e-commerce experts on the board).
I second it for Corey on here. He always tries to go above and beyond to help us out when needed.