Barclaycard Merchant Services

[ESB Retail]

Hi all,

Sorry if this is in the wrong bit of the forum, first post!

We're currently using Barclaycard Merchant services as our CC processor with Sagepay as our gateway. As we've only been trading since August '13, they have imposed a 14 day hold on our takings. I know this is down to them protecting themselves and our customers, but just wondering if anyone's had any luck in getting this hold reduced to 7 days or even nothing! We're really struggling with payouts 14 days ahead + 3 days for BACS, especially for our expensive items!

If we can't get the hold reduced, does anyone know any merchant providers that will cater for a newly started electronics business? Preferably without a ridiculous time period like the one we've got!

Thanks all!

Sam

 

[LMDServicesUK]

Hi Sam

Please PM me some more information and we may be able to offer you a better commercial package / lower settlement times. However it will depend on what level of Risk your Business is, considered to be ?

We can provision you with a payment gateway and Merchant account in 24 hours once you have been approved (normally 3 - 4 days)

Your experience is not unusual for a new start up business, but we would look at your current trading position and hopefully be a little more reasonable towards you re your settlement times.

Kind regards

Mark

 

[CardswitcherUK]

Shop around Sam. Attitudes towards a hold will vary from processor to processor and their approach can often be inconsistent. Get an agent to ask a few processors to "pre-vet" your application with business specifics to see what the risk attitude is likely to be then consider a full application. You may also find cheaper fees!

 

[ProjectOcto]

I suggest you speak to Barclaycard themselves as they now have a gateway/merchant service combined offering, and the last time we spoke to them there was no hold on accounts at all.

 

[leon.lee.cardstream]

Best advice would be to shop around and get quotes and settlement times on gateways. It will also give you a good chance that Barclays will offer you a good deal as you have been a customer of their already.

Leon Lee
Cardstream
0845 0099 575

 

[Peter Dyer]

Call Barclaycard on 0800 046 6803. They may be able to improve on it if you appeal, plus they have other ways to soften your cash flow position. They'd prefer to do all they can to help you than lose you as a customer.

Good luck.

 

[Nochexman]

I would agree with ProjectOcto and Peter Dyer. However, if you are still interested in an alternative consider Nochex.com since funds are typically available to you immediately they are received and you are under no commitment to use the account or pay charges, so an easy way to find out if we fit your needs!