Can I get some feedback from people using a merchant account - GoFuckYourself.com

tony286 · 03-13-2003, 02:54 PM

Can I hear from some adult webmasters who have merchant accounts and are using them to process recurring adultwebsites. What have your experiences have been? Are you happy you made the switch? I want to hear everybody expect Mitch lol.

tony286 · 03-13-2003, 03:35 PM

MandyBlake · 03-13-2003, 04:44 PM

2477 · 03-13-2003, 04:49 PM

What kind of info are looking for? If you just want answers re: merchant accounts and don't want to be sold, go ahead and post the question. I do biz dev for one of the few adult merchant account providers left. Are you looking for something Domestic or Offshore?

LMK.....

tony286 · 03-13-2003, 09:16 PM

I have a third party processor, I want to grow and feel uncomfortable being in a situation where if they go down the toilet I go with them because its their customers not mine. Also I feel there is less of a chance for a bank to go under. We have been a pay site now for 20 months and I am running a cb ratio of .36 % . I think when you take away the friendly fraud, the rest is their buggy software. Some one canceled and it kept billing them because our retention avgs between 75-83% the customer is important to us. What makes me scared is all these stories of big fines and banks dropping you for no reason. For someone like me what are the odds of that happening? Also does it pay to go right to offshore because I think in the US the rules are going to get rougher but going off shore will I have government bullshit even if I pay my taxes on the money like I am supposed to. One more thing the person I been talking to said it can be set up for around $300 now everyone else says $2000. Which sounds more likely to you. MY icq is 52416841 . Thanks Tony

2477 · 03-14-2003, 11:53 AM

Tony,

With a CB ratio of .36%, you should have no problem getting approved for a merchant account, unless you have some SERIOUS personal credit issues.

Getting heavy fines isn't quite an issue any more, as long as your merchant account is with a bank who has a familiarity in processing for the adult industry. The reason for this is very simple....Your account would more then likely be shut down if you ran a sustained CB ratio above 1%. The reason for this is, the risk exposure for the bank is too great if you are maintaining a CB% of 1% of higher.

I place many accounts Offshore. The main reason my clients choose to do this is because of the tougher US stance on the online adult industry. As long as you pay your taxes appropriately, you won't have any problems. One thing to understand about going offshore...you need to go w/ a reputable outfit. I'm sure you've heard of some offshore horror stories. The monthly volume requirements are pretty steep. You'll need to already have a minimum monthly credit card sales volume in the neighborhood of $75K / Month for the Offshore bank to touch your account.

For a US domestic adult merchant account you'll pay around $2k for the total set up. Who ever is quoting you $300. to set up an adult merchant has no idea how the process works. To give you a yardstick, the Card Association Registration Fees are $1500. alone.

Good luck,

Rob
ICQ: 195813751

03-13-2003, 02:54 PM	#1
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	Can I get some feedback from people using a merchant account Can I hear from some adult webmasters who have merchant accounts and are using them to process recurring adultwebsites. What have your experiences have been? Are you happy you made the switch? I want to hear everybody expect Mitch lol.

03-13-2003, 03:35 PM	#2
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	bump

03-13-2003, 04:44 PM	#3
MandyBlake The one and only! Industry Role: Join Date: Nov 2002 Location: Atlanta, GA Posts: 17,761	=) __________________ Mandy's Playhouse Her First Fat Girl If you're interested in promoting my sites, ICQ me! 178411921

03-13-2003, 04:49 PM	#4
2477 Confirmed User Join Date: Oct 2002 Location: Right behind you Posts: 414	What kind of info are looking for? If you just want answers re: merchant accounts and don't want to be sold, go ahead and post the question. I do biz dev for one of the few adult merchant account providers left. Are you looking for something Domestic or Offshore? LMK..... __________________ Coooostanza.....icq# 195813751

03-14-2003, 11:53 AM	#6
2477 Confirmed User Join Date: Oct 2002 Location: Right behind you Posts: 414	Tony, With a CB ratio of .36%, you should have no problem getting approved for a merchant account, unless you have some SERIOUS personal credit issues. Getting heavy fines isn't quite an issue any more, as long as your merchant account is with a bank who has a familiarity in processing for the adult industry. The reason for this is very simple....Your account would more then likely be shut down if you ran a sustained CB ratio above 1%. The reason for this is, the risk exposure for the bank is too great if you are maintaining a CB% of 1% of higher. I place many accounts Offshore. The main reason my clients choose to do this is because of the tougher US stance on the online adult industry. As long as you pay your taxes appropriately, you won't have any problems. One thing to understand about going offshore...you need to go w/ a reputable outfit. I'm sure you've heard of some offshore horror stories. The monthly volume requirements are pretty steep. You'll need to already have a minimum monthly credit card sales volume in the neighborhood of $75K / Month for the Offshore bank to touch your account. For a US domestic adult merchant account you'll pay around $2k for the total set up. Who ever is quoting you $300. to set up an adult merchant has no idea how the process works. To give you a yardstick, the Card Association Registration Fees are $1500. alone. Good luck, Rob ICQ: 195813751 __________________ Coooostanza.....icq# 195813751

03-13-2003, 09:16 PM	#5
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	I have a third party processor, I want to grow and feel uncomfortable being in a situation where if they go down the toilet I go with them because its their customers not mine. Also I feel there is less of a chance for a bank to go under. We have been a pay site now for 20 months and I am running a cb ratio of .36 % . I think when you take away the friendly fraud, the rest is their buggy software. Some one canceled and it kept billing them because our retention avgs between 75-83% the customer is important to us. What makes me scared is all these stories of big fines and banks dropping you for no reason. For someone like me what are the odds of that happening? Also does it pay to go right to offshore because I think in the US the rules are going to get rougher but going off shore will I have government bullshit even if I pay my taxes on the money like I am supposed to. One more thing the person I been talking to said it can be set up for around $300 now everyone else says $2000. Which sounds more likely to you. MY icq is 52416841 . Thanks Tony