streamline charges

[greenglaze]

Can anyone pin down what discounts you get on a Streamline merchant account when you join the FSB? Is the monthly fee to Streamline waived for the first three months or for as long as you remain a member of the FSB? Feedbcak appreciated.

[jazzydan58]

no monthly fee for streamline, FSB have a chart of all the charges I save more than 20 times the cost of the fsb memebership by having there discounted rates :)

[davidakerr]

As an FSB Member you receive 3 months rent free in 1st year of membership and 2 months rent free in 2nd year of membership.

The installation fee of £250 is waived if an FSB member. Credit Card handling charges are discounted. In all a good deal. It will save you more than it costs to be a member. There is also all the other additional benefits as well.

[mehode]

I would start with a Paypal merchant account until the shop gets more sells.
It will worth it to sign with FSB to waive the installation fee at least for the first year.
If it worth renewing FSB after that year will only depend on how many sells you make on the shop to balance the £170 renewal fee or how you value FSB services.

[davidakerr]

I disagree with mehode. If all you want is Streamline discounted charges then don't apply to be a member of the FSB. The FSB is not about discounted prices for this and that. The main reason for becoming a member is the protection the FSB offers its members in legal and tax situations; lobbying MP's to obtain a fairer deal for SME's and lastly, the benefits, like discounted prices for essential services used by small businesses such as ELI and PLI; FREE Banking; discounted telephone services incl VOIP etc etc. If you can obtain all of that for £170 per year elsewhere......................................... good luck.

[mehode]

I disagree with mehode. If all you want is Streamline discounted charges then don't apply to be a member of the FSB. The FSB is not about discounted prices for this and that. The main reason for becoming a member is the protection the FSB offers its members in legal and tax situations; lobbying MP's to obtain a fairer deal for SME's and lastly, the benefits, like discounted prices for essential services used by small businesses such as ELI and PLI; FREE Banking; discounted telephone services incl VOIP etc etc. If you can obtain all of that for £170 per year elsewhere......................................... good luck.

or how you value FSB services

[Mister B]

I know that joining the FSB allows discounted Streamline fees, but is it possible for existing businesses to join the FSB and then start claiming the discounted fees?

Mister B

[printinglocal]

Mister B, if you find this out then let me know!

[davidakerr]

If you are an existing Streamline merchant, I assume this is what you mean, then discounted rates thru Streamline are available providing you are an FSB Member.

Established businesses can apply for membership to the FSB and can receive any preferential rates FSB Members have with any of the FSB Service Providers.

If you want more info you are free to PM me.

[davidakerr]

originally posted by mehode

"........or how you value FSB services"

If I can have at my disposal a tax consultant (IR trained) who will deal with a tax enquiry instigated by HMRC or a qualified employment lawyer to offer advice and even represent me at a tribunal completely FREE OF CHARGE I really wouldn't quibble about a fee of £170 per annum, but there again there are some people who want to fly by the seat of their pants and keep their fingers crossed.

[greenglaze]

no monthly fee for streamline, FSB have a chart of all the charges I save more than 20 times the cost of the fsb memebership by having there discounted rates :)

Thanks for the replies. I'm still not entirely clear. jazzydan58 says there is no monthly fee for streamline with FSB membership. Yet the next post from davidakerr - if I understood what you are saying - is that you only get three months relief from monthly charges with FSB membership.

Can anyone clinch this conundrum?

All in all FSB / Streamline / Protx sounds to me like a good deal I just need some basic figures for projection.

[darren atkinson]

Hi

Just applying for it myself at the minute.

If it's Internet and telephone sales only with no hardware (I.e. Using protx for everything thing) there is no ongoing monthly fees and CC rates start off at 2% dropping further after a few months trading history with them depending on turnover.

For me it's miles cheaper than paypal, will save more in one months transaction fees than Fsb costs to join!

As mentioned there are loads of other benefits, I was pleasantly surprised at the many pluses you get, although my main joining reason was the cheaper streamline rates.

Hope that's useful.

Darren

[Christiane]

I only paid £100 to renew my membership last year, so the £170 includes the first year's joining fee.

I think davidakerr means rental of a terminal, but if you use protx, ie online, then there are no monthly fees.

I have 2 accounts with Streamline. The first one using a terminal (rented with 123send) called a '' standard merchant account''; the second one with protx called ''internet merchant account''.

[greenglaze]

Thanks for the clarification. I'll be joining next week.
Cheers.

[davidakerr]

OK lets clear it up

FSB Membership was increased October 2008 (the first time in 5 years) Sole Trader now pays £120 per annum plus one off joining fee of £30.

Streamline Fixed Terminal rental offers FSB members 3 months rent free. There is no charge for rental if using on-line as just.b confirmed.

Mobile terminals are rented thru 123 Send (cheaper than Streamline's deal) but you still get Streamline rates.

[fix]

I'm trying to organise a payment provider and merchant banker at the moment, everyone keeps on raving about the FSB and Streamline but can anyone confirm exactly what they are offering?

I phoned the FSB just now and after being passed to several different people they said they didn't have details of the discounted streamline rates on offer.

Do streamline offer merchant banking with the discounted service with the FSB or just payment providing?

The no monthly fee option looks appealing to me as I'm a startup business who will be taking all card payments online

[TotallySport]

if you don't need or want a physical terminal and only need to process card transactions over the web or phone then joining the fsb and streamline with mean streamline wave the £250 setup fee, and wave the £30 month fee, then as with anything the rates are 100% negociable and will depend on your predicated sales and pitch.

If you have a bad credit rating them joining the FSB won't make it more likely you will get an account, and it's still open to credit checks.

From people I have heard taking them if you have a streamline account and join the FSB they won't get the discounts, however if your turning over a fair bit it might be time to ring them and sort out a new price structure anyway. However streamline also get discount on worldpay so it might be cheaper moving, or using it as a barganing chip.

[Christiane]

I'm trying to organise a payment provider and merchant banker at the moment, everyone keeps on raving about the FSB and Streamline but can anyone confirm exactly what they are offering?

I phoned the FSB just now and after being passed to several different people they said they didn't have details of the discounted streamline rates on offer.

Do streamline offer merchant banking with the discounted service with the FSB or just payment providing?

The no monthly fee option looks appealing to me as I'm a startup business who will be taking all card payments online

You need to call Streamline. The FSB won't know.
I've just opened a merchant account for a new company and the rates were around 1.8% for credit cards, I'd have to check. You will need your FSB membership number to sign with Streamline to get the cheaper rates and fees waived.
Streamline offers merchant ''accounts'' not ''banking''. They process the card payments and transfer the money to your business bank account.
If you want to take payments online, then you need an ''internet'' merchant account and open an account with SagePay, for instance.

[fix]

Whoops I posted my reply twice.

[fix]

Thanks for the replies,

Yes I agree rates will be dependent on circumstance I just hoped the FSB would be able to give some kind of indication of reduction.

So Streamline offer the merchant banking side of things rather than the payment gateway, that's ok as if they waive the monthly charge that gives me more leaway to choose a payment gateway.

Someone from Streamline should be calling me back on Monday so I'll have a word with them and let them know I'll be joining the FSB, they should be able to confirm then what rates they can offer me.

Thanks for clearing that up for me :)

[greenglaze]

I joined the FSB - a man came round to explain the advantages of joining etc. and I signed up.

I then got in touch with Streamline re merchant account and because I was with FSB they gave me the discounts outlined above.

Once I had the Streamline account I set up a payment gateway with Sagepay.

All this takes time.

My one piece of advice would be to keep a journal of where you are up to as well different passwords etc. Particularly if you set up a payment gateway with Sagepay there's a long series of things you have to do - and things you have to wait to happen - and it's very easy to forget where you are up to.

That said it's all working smoothly. Good luck.

[davidakerr]

Please...........there is a lot of misunderstanding regarding FSB/Streamline rates and how it all works.

I am a member of the FSB and I know about the offer regards Streamline, if anyone needs further information, please PM me and I will reply with a clear and concise answer.

[consultant]

A little bit off post, but Davids comment 'If all you want is Streamline discounted charges then don't apply to be a member of the FSB' is at best, a little bit off the mark!

If anyone wants to join the FSB for any of the benefits, believing it will save them money in the long run (in several cases, it will), go for it! The FSB offers many business savings and areas of support and, if it takes an offer to get you on board, good.

I believe the FSB sometimes gets too caught up in it's own status and procedures, losing sight of why some (if not many) people/businesses sign up - the benefits are a major factor.

For anyone who wants to see their total list of member offers, look here - http://www.fsb.org.uk/value

[fix]

Well after a week and a couple of phone calls no one from Streamline has bothered to phone me back, they've decided to send me a letter instead.

They require my business plan and cashflow forecast for the next 12 months along with alot of other details, i will be able to get this together but i feel Streamline have just wasted a weeks time in which i could have been preparing it.

Is it fairly standard to be asked for this info?

[Christiane]

Well after a week and a couple of phone calls no one from Streamline has bothered to phone me back, they've decided to send me a letter instead.

They require my business plan and cashflow forecast for the next 12 months along with alot of other details, i will be able to get this together but i feel Streamline have just wasted a weeks time in which i could have been preparing it.

Is it fairly standard to be asked for this info?

I've just opened an account with Streamline for a new company I've set up. They never asked for a business plan, etc. I was able to apply over the phone, then they sent me documents to sign. I'm now up and running, using a 123send terminal. Why were you not able to apply over the phone?

[fix]

I have no idea im going to call them on Monday, im really not impressed with their customer service.

I phoned and they said an "area manager" would call me back to discuss rates etc, after a week of chasing them up i receive the letter from them.

My business is internet based and i will be selling goods which arent anything out of the ordinary and nothing to cause alarm.

If they've sent the letter i dont think i have any choice but to comply as by the sounds of it they will have the best rates available using the FSB.

[chris_awd]

The FSB Streamine fees chart I have ends at £150k+ with "by SMS negotiation". What should I am for with card turnover of £1m a year?