Hey Barefootsies!
Here are some answers to your questions
Question: Who are the solid recommendations for those looking for merchant accounts? Whether you are looking for adult (high risk) or mainstream. I know I could use one for mainstream.
Adult Banks: Merrick is always solid; if you already have urls registered with CCbill you can not recycle those url's and apply with Merrick. With that said, you still have Bank Of Delaware, Humboldt and Harris Bank. Offshore is a different Beast and another conversation... But I have banks for offshore too : )
Mainstream- you have more choices- NPC, Merrick, Moneris, Applied, Bank Of Delware, Harris, Capital Bank Card, Wells Fargo, Chase and Merchant E-Solution
Question:Minimum requirements people need to know, as I am sure there are plenty of programs among others interested at this point. Minimum transactions, application fees, etc.. Whatever you think would be useful for those who should be considering this option.
Most of my mainstream banks do not have a minimum requirement for transactions or volume. They are more concerned about CB's then they are about volume.
For adult Merrick, Delaware and Harris like accounts to be over $30,000 to $50,000 with 3 to 6 months of history.
To apply for any merchant account you need a Tax ID and Corp papers, business bank account with voided check or bank letter, ID or Passport, 3 to 6 months processing statements and or business plan (if new business) and proof of address.
Once the account goes into underwriting they generally will ask for 3 to 6 months of business bank statements. 1 to 2 years of P & L or tax returns. They will also pull your credit. (yeah it's like buying a home...)
Bank Fees
Application fee are never more then $25.00 and you never get charged unless you are approved
You may see a Visa High Risk Fee for Adult, this fee is around $1500 and ONLY a one time fee.
Next step is picking your gateway. I suggest shopping around and finding a gateway with low transaction fees and around the clock service. Don't worry about the monthly fee as much, As you run more transactions and that's what adds up. I prefer DHD as a Gateway. They are integrated into most of my banks and I have heard nothing but great things about them.
When having a merchant account you are charge interchange, + a rate (%) and a transaction fee. You will also be charged per chargeback and refund. These fees are always listed on your application.
You are still generally paying lower then an IPSP at the end of the day... The real benefit to a merchant account is you are now storing you own credit card data. you are able to move rebills and now hosting your own join page. You will also see a increase in your conversions with your own merchant account. Your know have control of your billing.
I hope that helps, you know were to find me if you have questions
My Best,