Thread: Business Merchant Account Help
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Old 07-10-2015, 10:09 AM  
RapidFinancialSolutions
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Join Date: Mar 2003
Location: Las Vegas
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Hi,

One thing you have to understand is that no one can give you the fee breakdown until you've been approved.

Only low risk retail companies have the same discount rates & even there it will depend on volume. High risk never does, & the fees are dependent upon your company, if you have previous processing, etc.

Yes the volume matters to the bank, but if you were a startup with a good amount of savings in your personal account & good credit, that matters too.

Any agent that gives you fees without first asking you for a lot of paperwork & has first sent it to their processors is someone I would be leary of. It's unfortunate that there are a lot of fly by nights in this industry or they have been in the industry for years, but still don't know what they are doing.

I personally don't like to take on companies that are doing less than $5-10k per month, closer to $10k.

As for what you need to get started, you need a site that is ready & it does help if you have previous processing (clean that is), but even if you are a startup I may be able to help you.

I deal with overseas companies as well. There are a few countries we won't deal with such as Iraq, etc.

I also have another partner who helps curb chargebacks if you need that service. This is VERY important.

As for the gateway software, some processors will want you to use theirs, others will let you use your own. Again, it all depends on the processor, how clean your account is, etc.

I hope this has helped you in some way. If you want to see what I can do for you, please pass me your e-mail address & I'll send you my pre-app.

Serious replies only.

Thank you


Michelle
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