Losing 8-10% earnings a day.
 

Ok heres the situation, im in the UK and to get a merchant account here the % the bank takes is like 8.5% then add 1.5% for netbilling and processing would be 10%.

Im currently with PSW and they do it at 11% which makes it pointless me going through the hassle of setting up my own merchant account.

Now i find out my lovely competitors in the USA process at between 2%-4%

When ur talking large figures per a day in affect we are losing a lot of money a year simply because we are in the UK.

Lets talk about solutions...

HELP! :)

... I guess buying some shares of your bank isn´t an option here ??

Not sure there is one except move to the States.

We have a Californian office and corperation, so we can take advantage of the proceeing rates.

see sig, based in UK

if u work the loss out over a year its in the 6 digit range... very annoying

U work with them? I sent a simple email to you guys about processing for a UK site in UK pounds and got the most unprofessional reply i have ever seen.


a bit like ur reply above "see sig in the UK" so what if ur in the uk unless u can offer me transactions at like 4%

Look for a different UK bank. I had to setup a merchant account for my old company (and for the life of me can't remember who I used in the end) a few years back in the UK> The rate was MUCH lower than 8.5%. Shop around.

for adult products?

I really love when people are crying about how much money they loose because they earn so much.

If netbilling pick this up can you contact me ICQ 46335817

it would be the same if i earned $10 a day and $1 of that a day went to the processor, thats $365 a year worse off... not good.

theres always the option of setting up a front man in the USA.

Run the site completely in his name so you can use his residence.

Might be costly to cut someone in to funnel your cash, but if your losses are that big you may wanna concider it.

Naturally youd have to trust the person 100% as he would have access to basically all your earnings.

:feels-hot

hope you understand all the nightmares that can go along with using your own merchant account. And I think the scariest one is that if you get TMF'ed I believe you are SOL when it comes to getting registered with IPSP.

am i right?

Darren,

I will ICQ you shortly. Sorry for the delay.

Mutt,

You can be TMF'ed with a merchant account or with a third party processor. The rules changed last November. I can count on 1 hand the # of our merchants that have been TMFed in the last 5 years.
It is all about the processing company, customer service and fraud scrubbing.

Mitch