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Originally Posted by shuki
I just bought a new mainstream site and am looking at card service international for my processing.
Visa/MC Rate is 2.19% with a 25 cent per transaction fee.
My main question is regarding a personal gty. Is this common. I can't recall if I did this on others as it has been a long time.
Just want to know if it is standard and all will require this or if other firms will allow you to not use a PG.
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A personal guaranty is extremely common. I can set you up with an account without it, but then the Bank requires that you show 2 years of business financials instead.
Regarding your rate, that's a very good deal. But becareful with your mid and non-qual rates. If you expect a lot of business card, foreign cards, or don't pass through the right transaction info, then the transactions will be downgraded so you never see that 2.19%. I've seen non-qual rates as high as 5%.