Quote:
Originally posted by Rick Latona
... What?s the solution? Get your own merchant account and run all of your primary processing through it ...
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With your own merchant you have the freedom of a little more creativity .. however, be prepared for the "reserve" shakedown from the merchant bank .. any where from 30-50% of your monthly billing. Meaning, if you're billing $100k/month, they'll hold onto 15-20% off the top until you've got $30-50K sitting in the bank which cannot be touched for 10 months .. give or take.
CSI was infamous for saying "oh, congrats, you're growing! In order for us to continue to process for you we're going to hold onto 100% of your deposits until we have $10K. Once we have $10k, we'll release 80% of your net earnings twice a week. We don't care that you have webmasters, bills, etc. to pay, we don't trust you because you're adult. Oh, you've had another account with us for years? Fuck you, we don't care."