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07-14-2009, 11:56 AM #1Web Hosting Evangelist
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Authorize.net gateway + merchant account with less fees?
I currently have a merchant account with Wells Fargo and a Authorize.net account through them also (as a package). Their fees seem astronomical to me. I am doing about $1200 in credit card transactions and last month I was charged over $120 in fees!
Is this normal? Should I look elsewhere for a merchant/authorize.net gateway?
I originally went with my bank because it is nice to have my personal and business accounts in the same web interface. But my personal account has NO fees at all... why the business so much?
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07-14-2009, 01:45 PM #2Danananana Danananana Batman!
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07-14-2009, 01:45 PM #3Junior Guru
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You don't mention if the fees are for your credit card transactions or for your account in general?
Your going to pay at 3%?? in credit card feeds.... Thats $36, $25-$35 authorize.net gateway fee.. Now your are $61-$71. Monthly fees for wells fargo checking accounts $5-$15.. Now your up to $66-$86.. Merchant Processing fee, $20-$30, now your at $86-$106
So your left with $20-$40.. Authorize.net charges like 50 cents a transaction?, So we can assume you processed 40-80 transactions?
Does this about cover it? Basically people who only charge a couple grand a month get screwed....Personnal Blog
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07-14-2009, 02:51 PM #4Web Hosting Evangelist
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The fees include both. I only process about 15 transactions with higher amounts so your numbers are a little shifted. It's also hard to say what fees are what because they are usually all rolled into 2 fees which are just labeled 'bankcard fee'. But basically, Yes. It feels like I am that little guy who gets screwed
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07-16-2009, 12:27 PM #5Web Hosting Evangelist
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07-16-2009, 12:58 PM #6Web Hosting Master
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eVerity.com
Celebrating 9 years of customer service. Domain names, shared/semi-dedicated/dedicated hosting, SSL certificates, merchant accounts, reseller options, and referral program, since July 2000.
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07-16-2009, 01:03 PM #7Disabled
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07-16-2009, 01:28 PM #8Web Hosting Evangelist
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Thanks for the additional suggestions. Going to get quote from e-onlinedata.com also.
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08-03-2009, 05:52 PM #9WHT Addict
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- Aug 2008
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- Michigan
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e-Online is overpriced in their monthly fees. For a start up, I would recommend PayQuake.com
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08-03-2009, 06:25 PM #10Web Hosting Master
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- Orlando
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MerchantFocus has lower rates than PayQuake. MF includes Authorize.Net and has been around a while, so I would highly recommend them.
2.19% VISA/MasterCard Qualified Discount Rate
$0.24 per Transaction
$10.00 Monthly Service Fee (includes Monthly Statement)eVerity.com
Celebrating 9 years of customer service. Domain names, shared/semi-dedicated/dedicated hosting, SSL certificates, merchant accounts, reseller options, and referral program, since July 2000.
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08-03-2009, 06:45 PM #11WHT Addict
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- Michigan
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According to MF's website they charge an additional $15/month for Authorize.net. With PayQuake you can get a merchant account and authnet for around $10/month (including the monthly statement fee and authorize.net access fee)
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08-03-2009, 10:25 PM #12Web Hosting Master
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- Apr 2009
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- Dallas/FortWorth TX
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We use Chase bank , they have normal rate, but payments hit our account within 24 hours guaranteed. In this economy cash flow is what wins.
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