Streamline Merchant Account Fee's?

[ttmw]

I'm trying to work out costing for a merchant account. I know i can get discount with joining the FSB (whether it's worth £150 or not i don't know?), but i cant seem to find any of the fee's anywhere, and the terrible streamline & FSB websites don't help.

Do they vary? I'll be sending about 250 transactions per month, average £16 value.

Any help or tip's on any hidden costs/things to look out for would be much appreciated.

 

[Sparx]

Yes, the costs and rates vary for everyone. Dependent on many factors such as: new to cards, turnover, risk to the bank, industry/sector you operate in, large deposits taken before product/service provided, etc...

Also, I presume you are after an eCommerce merchant account? Not a card machine?

I would say the FSB scheme is not worth it, although if you want preferential rates - I would recommend try speaking to Cardsave as we are the sister company to Streamline so will more than likely be able to help you. I can get one of my colleagues from Sales to call you on Monday if you are interested in getting a quote?

Drop me a PM if you are interested with your name/number etc.

Hope that helps, thanks.

 

[TotalWebSolutions]

I'm trying to work out costing for a merchant account. I know i can get discount with joining the FSB (whether it's worth £150 or not i don't know?), but i cant seem to find any of the fee's anywhere, and the terrible streamline & FSB websites don't help.

Do they vary? I'll be sending about 250 transactions per month, average £16 value.

Any help or tip's on any hidden costs/things to look out for would be much appreciated.

The rates will depend largely on the nature of the business and associated risk - as will the terms offered with the rates. Until you apply and give the acquirer some information about your business it will be difficult for them to determine the volumes that would be going through and also what risk category you are likely to fall into.

 

[MerchantServicesBDM]

It really depends on the nature of your business. In fact you may not even need a terminal which would save you between £11 and £35 per month depending on how card payments processed.

On average your account will be between £10 and £20 per month, depending on the number of transactions you're processing. But it's the rate/transaction you need to keep an eye on. No use in a low monthly account fee if you're being charged over the odds for credit and debit card payments.

These rates will be based on a your particular circumstances so you won't find standard rates quoted.

Hope this helps.

 

[BenKirkwood]

Here is something from PaymentSense that might fit your needs perfectly..

Capped £10

This plan is ideal for a small to medium size online business, or a business looking to start trading online. You can process up to £50k of free transactions each year for just one monthly payment of £10. There is nothing like it on the market.

More information about our E-Commerce Monthly Plans
Also note, 3 month contract so no long-term commitment.

Check the details of any other providers, the majority will charge you additional fees for each transaction.


HTH Ben.

 

[ttmw]

Here is something from PaymentSense that might fit your needs perfectly..

Capped £10

This plan is ideal for a small to medium size online business, or a business looking to start trading online. You can process up to £50k of free transactions each year for just one monthly payment of £10. There is nothing like it on the market.

More information about our E-Commerce Monthly Plans
Also note, 3 month contract so no long-term commitment.

Check the details of any other providers, the majority will charge you additional fees for each transaction.


HTH Ben.

Is this just the merchant side of things i'm guessing... do you offer payment processing/gateway too?

And what are the fee's if i go over my allowance of £50K?

 

[MerchantServicesBDM]

Anything over the cap will be charged at %0.15. 3 month rolling contract and no cancellation charges.

Yes, we do offer a payment processing gateway.

 

[ttmw]

Thanks, are there any cancellation fee's?

Is PCI DSS compliance a cost i need to factor into my merchant account and payment account solution too, or is this handled by my merchant & payment gateway? If i have to sort this myself, what cost will i be looking at?

 

[BenKirkwood]

Is this just the merchant side of things i'm guessing... do you offer payment processing/gateway too?

And what are the fee's if i go over my allowance of £50K?

This is for the payment gateway. Aquiring rates will be set depending on your business, risk, trading history etc. Above £50k turnover, you move to Capped 15 which allows up to £250k turnover for £15 per month.

 

[CharityClear]

Thanks, are there any cancellation fee's?

Is PCI DSS compliance a cost i need to factor into my merchant account and payment account solution too, or is this handled by my merchant & payment gateway? If i have to sort this myself, what cost will i be looking at?

You can sort out PCI compliance yourself or do it through whoever you chooose for the merchant account, which should be simpler. Typically you're looking at anything up to £100 a year.

Going back to the rates I quoted elsewhere, 1.5% for credit cards and 22p for debit cards is the guaranteed rate regardless of circumstances, as long as you are accepted for the merchant account of course.

Marc.

 

[BenKirkwood]

Thanks, are there any cancellation fee's?

Is PCI DSS compliance a cost i need to factor into my merchant account and payment account solution too, or is this handled by my merchant & payment gateway? If i have to sort this myself, what cost will i be looking at?

Short contract, no cancellation or exit fees.
1st year PCI Compliance is free with PaymentSense. I think its around £40 a year thereafter.