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Thread: Merchant Accounts
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08-25-2010, 04:39 PM #1WHT Addict
- Join Date
- Feb 2010
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Merchant Accounts
Hello Everyone,
I'm downright sick and tired of PayPal. Not only do they snag 4% of all transactions (that's a LOT when the payment is high!!) but now my account has been "compromised" and locked down by PayPal until further notice.
About a week ago, someone registered a new bank account with my PayPal and tried withdrawing my money to a bank in Florida. As I understand, PayPal has a policy and they were able to stop the full transfer before it was made since I'm located in Canada and the new account was in the United States. PayPal noticed something wrong with this scene and I guess closed things down.
Here's the problem: I work full time from home and my money is in PayPal, I'm screwed until they've resolved the issues and I've been informed there will be a FULL refund of all money since the problem was resolved before the funds were fully withdrawn. I've been informed this could take a few weeks now.
I need a new method of accepting money, not one that takes 4% of every payment.
I run a hosting company, an ecommerce company and a Development and Designs company that all accept payments online using PayPal.
What are my alternatives? Is there a company you can recommend? Should I get a merchant account? Is there someone you suggest?
Any help would be greatly appreciated!
Kind regards.
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08-25-2010, 04:45 PM #2Web Hosting Master
- Join Date
- Apr 2006
- Location
- Phoenix, AZ, USA
- Posts
- 771
We've had great success with Chase Paymentech - low fees and the rates are hard to beat. Contact your local Chase Bank branch to get the ball rolling.
The merchant account is just one part of the equation, you'll also need a payment processor - I'd take a look at Authorize.net. They are an industry standard and have great support, if and when it may be needed.
Chase Paymentech works directly with Authorize.net as well and they can help get things setup correctly with Authorize.net, simplifying the whole process.
Best of luck in your search.
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08-25-2010, 04:45 PM #3Disabled
- Join Date
- Sep 2008
- Location
- United Kingdom
- Posts
- 230
http://www.cdgcommerce.com
Accept creditcards.
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08-25-2010, 04:45 PM #4Backup Master
- Join Date
- Nov 2009
- Posts
- 816
I believe 2checkout accepts paypal as well as major credit cards but they also charge quite a bit.
If your paypal account got locked, try to call them up and explain the situation. You can usually resolve things faster with paypal if you call them.
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08-25-2010, 04:47 PM #5Cloud Hosting Pioneer
- Join Date
- Jan 2010
- Posts
- 1,030
We use Bluepay as both a processor and a merchant account. We used to use Authorize.NET but after a large outage last summer we bailed.
Check out Bluepay. They can work with you on rates if your volume is enough.
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08-25-2010, 04:56 PM #6Web Hosting Evangelist
- Join Date
- Nov 2001
- Posts
- 489
I second Bluepay.
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08-25-2010, 05:01 PM #7WHT Addict
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- Feb 2010
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- Canada
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- 104
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08-25-2010, 05:03 PM #8WHT Addict
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- Feb 2010
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08-25-2010, 05:05 PM #9WHT Addict
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- Feb 2010
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- Canada
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Yeah 2checkout is a bit expensive and I've been told there is a waiting period for withdraws, I don't like that restriction.
I did call PayPal and they've instructed me this is a situation in which takes time to resolve. Because of the situation there may also be legal actions against the person who did try and compromise my account. They informed me that this could take as long as 2 weeks before being resolved and opened again
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08-25-2010, 07:24 PM #10Junior Guru
- Join Date
- Jun 2004
- Location
- Tampa, Fl
- Posts
- 181
Since your in canada, look for a canadian MSP. Just google canadian merchant accounts, a bunch should pop up.
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08-25-2010, 08:16 PM #11WHT Addict
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- Feb 2010
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- Canada
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