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  1. #1

    I am a newbie, would like to know about WorldPay remittance.

    Hi, folks
    I am new here. Just want to know how long it takes to transfer the funds from WORLDPAY account to my Canada bank account? 5 days? or longer? I received the invoice this Tuesday(Canadian time), how long will the bank show up the records? This is my first time getting the remittance.
    BTW,anybody knows that how often should I use World Access? 60% over all of my transaction will be fine?
    Please advise. Thank you all.

  2. #2
    Join Date
    Apr 2004
    Location
    France
    Posts
    201
    Quote Originally Posted by limewiremu
    Hi, folks
    I am new here. Just want to know how long it takes to transfer the funds from WORLDPAY account to my Canada bank account? 5 days? or longer? I received the invoice this Tuesday(Canadian time), how long will the bank show up the records? This is my first time getting the remittance.
    BTW,anybody knows that how often should I use World Access? 60% over all of my transaction will be fine?
    Please advise. Thank you all.
    Hi,

    I have been with Worldpay for 3 years now - really good card processor company. They are very accurate and reliable .
    If you get a remittance on Tues or Wed it should be in your account Fri morn.

    Regarding Access, I have used it as often as needed and as long as you input the customers email rather than yours then no limit needs to be adhered to.

    Try and encourage your customers to use a debit card rather than a credit card as the commission is high. Once you have worked well with them for a while you can ask to reduce commission on credit cards.

    All the best

    Iain

  3. #3
    Join Date
    Sep 2006
    Location
    Canada
    Posts
    27
    Quote Originally Posted by iainw
    Hi,

    I have been with Worldpay for 3 years now - really good card processor company. They are very accurate and reliable .
    If you get a remittance on Tues or Wed it should be in your account Fri morn.

    Regarding Access, I have used it as often as needed and as long as you input the customers email rather than yours then no limit needs to be adhered to.

    Try and encourage your customers to use a debit card rather than a credit card as the commission is high. Once you have worked well with them for a while you can ask to reduce commission on credit cards.

    All the best

    Iain
    Can you give me an idea of WorldPays rates (per transaction, discount rate, monthly fees, etc)

  4. #4
    Join Date
    Apr 2004
    Location
    France
    Posts
    201
    Quote Originally Posted by CheapScotsman
    Can you give me an idea of WorldPays rates (per transaction, discount rate, monthly fees, etc)
    Hi CheapScotsman

    Rates per transaction - for credit cards it's about 4.5% and for debit card it's .56 pence about one dollar, this is per transaction so this is the better option if customers ask which you would prefer.

    No monthly fees at all

    You pay to join which i can't remember how much, i think 200 then there is the annual renewal fee of 160

    you get a full secure control panel (easy to use)

    Some people say it's too expensive but what you are paying for is customer confidence - my customers know that you are using a great company to process your cards, this gives you extra credibility and they are more likely to spend on your site.

    Worldpay pay on time, they won't go bankrupt and they are reliable, this goes a long way when you are dealing with thousands of pounds or dollars.

    It takes about 5 to 6 weeks after the customer has paid til you get the money but once you are used to this then it's great.

    Any other questions then just ask

    hope its helped

    Iain

  5. #5
    Join Date
    Nov 2006
    Posts
    33
    Worldpay is 100% a great company.

    But, if you have 20 clients per day, and if they buy for 50$ (1000$ each day), you need to wait 5 to 6 weeks (to 8, weeks I think) before you can earn the first $? Oohh! 42 000 $ outside your bank account for 6 weeks.

  6. #6
    Iain,
    Thanks for all your help. If sometimes I have got 5%-10% refund of all my transaction a month(even 2 chargebacks), will that be any problem? Speaking of debit card, I do not think that USA or Canada customers can use.
    Looking forward for your answers.
    Thank you!

  7. #7
    Quote Originally Posted by Macintosh
    Worldpay is 100% a great company.

    But, if you have 20 clients per day, and if they buy for 50$ (1000$ each day), you need to wait 5 to 6 weeks (to 8, weeks I think) before you can earn the first $? Oohh! 42 000 $ outside your bank account for 6 weeks.

    Yes! First 4 weeks (after 5-6 weeks you actually get the money) will be the toughest. After then, it should be fine I think.

  8. #8
    Join Date
    Sep 2005
    Location
    Middle England
    Posts
    918
    Quote Originally Posted by Macintosh
    But, if you have 20 clients per day, and if they buy for 50$ (1000$ each day), you need to wait 5 to 6 weeks (to 8, weeks I think) before you can earn the first $? Oohh! 42 000 $ outside your bank account for 6 weeks.
    You can negotiate with them if you are dealing in large sums

  9. #9
    Join Date
    Apr 2004
    Location
    France
    Posts
    201
    Quote Originally Posted by limewiremu
    Iain,
    Thanks for all your help. If sometimes I have got 5%-10% refund of all my transaction a month(even 2 chargebacks), will that be any problem? Speaking of debit card, I do not think that USA or Canada customers can use.
    Looking forward for your answers.
    Thank you!
    Hi Limewiremu,

    Refunds are no problem - you can do full refund or part refunds, it's easy to do and you and the customer get an email from WorldPay to say a refund has been made. Regarding chargebacks, i'm proud to say i have never had a chargeback so far, but doing holidays it must be hard for the customer to say they never had a holiday.
    I do know the less chargebacks you have the better a merchant you are, if a customer initiates a chargeback then it's hassle, immediately they are returned the money and then the battle begins, WorldPay reccommend that the best method is to contact the customer and ask them to rethink (this i would imagine is hard if you have had a problem with the customer)

    All the best
    Iain

  10. #10
    Iainw,

    Since you used Worldpay, do you have a IMA (Internet Merchant account) with them?

    As they wouldn't offer me one, only the cc proccessing.

    Thanks.

    2CO is a good alternative, But we will use worldpay within 6 months, as they are easier to deal with.
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  11. #11
    Join Date
    Apr 2004
    Location
    France
    Posts
    201
    Quote Originally Posted by TrafalgarWeb
    Iainw,

    Since you used Worldpay, do you have a IMA (Internet Merchant account) with them?

    As they wouldn't offer me one, only the cc proccessing.

    Thanks.

    2CO is a good alternative, But we will use worldpay within 6 months, as they are easier to deal with.
    No i haven't.

    If you have done well with worldpay then it can be good for you to go to another online bank like streamline and say that you have had a worldpay account for so many years, and they will consider you better.

  12. #12
    Join Date
    Jul 2002
    Location
    London, United Kingdom
    Posts
    4,366
    Quote Originally Posted by limewiremu
    Iain,
    Thanks for all your help. If sometimes I have got 5%-10% refund of all my transaction a month(even 2 chargebacks), will that be any problem? Speaking of debit card, I do not think that USA or Canada customers can use.
    Looking forward for your answers.
    Thank you!
    I you're doing that kind on amounts, you can get a shorter settlement period if you want to stay on WorldDirect, or better yet, just get a merchant account from your bank and switch to BankDirect - settlement at the end of the business day !
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  13. #13
    Join Date
    Nov 2006
    Location
    United States
    Posts
    4

    Wow, no chargebacks.

    Quote Originally Posted by iainw
    Hi Limewiremu,

    Regarding chargebacks, i'm proud to say i have never had a chargeback so far, but doing holidays it must be hard for the customer to say they never had a holiday.
    I do know the less chargebacks you have the better a merchant you are, if a customer initiates a chargeback then it's hassle, immediately they are returned the money and then the battle begins, WorldPay reccommend that the best method is to contact the customer and ask them to rethink (this i would imagine is hard if you have had a problem with the customer)

    All the best
    Iain

    The no chargeback record is awesome. Keep up the good work.

    The best method to stop a chargeback is to prevent it. It's hard to stop the chargeback process even if the customer wants to reverse the chargeback. Also you can't recover the chargeback fee. Learn from each chargeback, refine your chargeback procedures, and keep on selling.

  14. #14
    Worldpay used to be the good company.

    Now i have 4 remittances just missing. WP tells me that they need up to 4 weeks to trace the remittances and that there is nothing else they can do but wait????!!!!


    My WP experience is NIGHTMARE in the last month

  15. #15
    Join Date
    Jul 2002
    Location
    London, United Kingdom
    Posts
    4,366
    *ouch*

    sadly it takes many banks upto 28 days to chase and recall a missing elecronic payment, although often its done in under 3 working days.

    we've never had a WP remittance not arrive (although have had custoemr Amex payments never hit our account) and they alwyas blame the bank, but resend the money with the newxt remittance.

    if you've lost more than 1 in a row, go into WP, suspend all remittances (or change the amount to something big) and get a copy of the bank details they have on file) and check that your bank havent got the amounts in their *nostro/suspense account* - they will know what that means.

    Good luck.
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  16. #16
    I thought I would add a bit of relevant information to this thread should there be any folks from North America reading it.

    As mentioned above standard WorldPay remittance is weekly on a 4 week delay - but this is specifically for UK based merchants.

    For U.S merchant or Canadian merchants remittance with WorldPay is weekly with a 7 day delay. So it depends on which territory your business is in.
    David Goodale
    Merchant Accounts.ca
    Canada's merchant account provider.
    Toll free: (888) 414-7111 ext. 5 | Direct: (905) 901-2254

  17. #17
    Join Date
    Jul 2002
    Location
    London, United Kingdom
    Posts
    4,366
    Quote Originally Posted by dgoodale
    As mentioned above standard WorldPay remittance is weekly on a 4 week delay - but this is specifically for UK based merchants.

    For U.S merchant or Canadian merchants remittance with WorldPay is weekly with a 7 day delay. So it depends on which territory your business is in.
    And what you negoitiate with WorldPay. Before we went to bankdirect on our own merchant account, we had settlement every friday, 1 week in arrears.

    Now its settlement everyday as long as its over 2000
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  18. #18

    WP problems

    Thanks for best wishes, tried everything and nothing so far.

    The most disturbing thing is that the wordpay support tells me one story on the phone, then when i ask for that in written form they tell something else.

    regards

  19. #19
    4.5% is very high for a regular merchant account. Why would anyone pay that much, unless they are international and stuck with 2co and the like?

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