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  1. #1

    merchant account and gateway with no monthly fees?

    Ok i have been looking everywhere they all say no monthly fee but then they charge a 10 dollar statement fee that you have to elect, I am willing to pay the percentage plus the fixed rate per transaction, but i don't need a god damned statement. Can anybody help me. I want the free merchant account(nothing is free i know there will be charges when the charges are processed but i want no monthly or annual fees.

  2. #2
    Join Date
    Jan 2004
    Posts
    593
    Good luck finding something that doesn't exist. The processor needs to make money as well. $10 is cheap for accepting credit cards.

    Usually a volume over $1200 monthly will make the fee pay for itself.

  3. #3
    Join Date
    Oct 2004
    Location
    USA
    Posts
    811
    I know CDG offers a old rate like that but the transaction fee is way higher. I know they ran the rate here on WHT and i found a similar rate for one of my friends.

    However i just checked the available apps and it looks like they have completely removed that application from the system. It use to be a rate that was like 4.5%.

    I think you are just going to need to pay the statement fee, honestly $10 is not bad at all to be able to accept them. I use to be with Card services international and paid about $40/mo to accept them and thats before i processed a card.

  4. #4
    Join Date
    Oct 2010
    Location
    Saint Petersburg, FL
    Posts
    22
    <<snipped>>

    As for the merchant account fees, NOTHING IS FREE!! Period! What does anyone on this board do for FREE?? Exactly! Some processors call it a statement fee. Some call it a monthly service fee. Some call it a monthly service/statement fee. When we set up merchants with First Data, they offered to waive the statement fee if the merchant signed up for electronic statements. Don't forget about PCI Compliance!! Nobody talks about that but you can bet that when you review your schedule of fees...it will be there. Bottom line, it costs money to make money.
    Last edited by bear; 10-28-2010 at 04:28 PM.

  5. #5
    Join Date
    Mar 2010
    Location
    Florida, USA
    Posts
    186
    I agree with all the posters who correctly noted that nothing in this world is really free. That's just a fact of life. Everybody has to make a buck somewhere? So that said, IF you do lots and lots of volume month in and month out, I can refer you to dozens of processors who would gladly write you with 'no' statement fee. Of course, those people would make their profit on the income generated by your volume. But if you're a merchant who does just a couple thousand a month in volume, then forget it. The processor has to make a profit somewhere, and since it's not going to come from the meager volume, it's necessarily going to come from somewhere else....the rate, the monthly fee, the monthly milnimum, any of a dozen possible add-on fees, whatever. And here is some very good advise for you: When evaluating and comparing processing fee schedules, NEVER get tunnel-visioned on the individual components. The ONLY number that counts is the bottom-line amount number of how much it costs you to process payments, ALL elements considered. I don't care if a system has a $50 monthly statement fee--if it's overall bottom line is lower than the others, than that's the best deal.

  6. #6
    Join Date
    Dec 2007
    Posts
    1,277
    google checkout and paypal are free.

    The statement 'fee' is basically like a 'key charge' when buying a car, or other silly charge.

    They can say we have no fees *.
    James Paul Woods
    Operations Manager
    HostKitty Internet Services

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