Virtual Terminal & Merchant Account..

[Trancewear]

Hi people,

I currently have an ePDQ with BarclayCard but feel that its quite expensive (£20pm + 3% on ALL transactions). I did get a free merchant account which I didn't have to pay to setup.

Where are the best places to get a merchant account and the best places to get a virtual terminal?

Are there are any better alternatives? I just feel like the bank is robbing me!

Thanks

 

[TotalWebSolutions]

Hi Trancewear,

If you are looking to set up a new merchant account you could look at joining the FSB and getting one through their deal with Streamline. They will often give you a free setup with reduced processing rates and let you choose your payment gateway - such as ourselves - for the Virtual Terminal processing.

If you would like further details feel free to drop me a PM or click the link in my signature to learn more about our solution.

Thanks,

Simon

 

[BenKirkwood]

Are there are any better alternatives? I just feel like the bank is robbing me!

Of course there are alternatives and yes, you are paying too much - give our guys a call for a better price, better service and capped rates

 

[Trancewear]

Hi Trancewear,

If you are looking to set up a new merchant account you could look at joining the FSB and getting one through their deal with Streamline. They will often give you a free setup with reduced processing rates and let you choose your payment gateway - such as ourselves - for the Virtual Terminal processing.

If you would like further details feel free to drop me a PM or click the link in my signature to learn more about our solution.

Thanks,

Simon

Do you know what the rates are for a merchant account and virtual terminal via FSB?

 

[TotalWebSolutions]

Do you know what the rates are for a merchant account and virtual terminal via FSB?

Rates for the merchant account will vary according to each business (trading history, risk etc) but on average the transaction processing fees will be between 2-3% starting off and these can then be reviewed after 12 months.

If you choose us as the gateway then the Virtual Terminal fees will be these.

 

[jack05j]

Not sure if you have already selected a Virtual Terminal gateway service provider, but there is a corporation in the UK known as Realex that have Virtual Terminal as one of their items.

I believe this should be what you are looking for.

 

[business saver no1]

Hi people,

I currently have an ePDQ with BarclayCard but feel that its quite expensive (£20pm + 3% on ALL transactions). I did get a free merchant account which I didn't have to pay to setup.

Where are the best places to get a merchant account and the best places to get a virtual terminal?

Are there are any better alternatives? I just feel like the bank is robbing me!

Thanks

Would you like some independent advice?
Summit Business Development

 

[PayPoint net]

Hi Trancewear

We have a relationship with Barclays so we may be in a position to negotiate better rates for you (by using our gateway) but we would need to understand a bit more about your business.

If you are interested in getting a quote from us please PM me your contact details.

All the best
Siobhan

 

[CharityClear]

We would definitely be able to beat those rates for you and offer a free Virtual Terminal as part of our standard package. All of our profits go to charity too.


Marc.

 

[Sparx]

Guys, this thread was originally created at the beginning of January this year - it is old! I would be shocked if the OP didn't have an account sorted by now.

Jack05j wouldn't recommend bumping old threads!

 

[kindredmildred]

Hi,

3% does seem a little steep compared to those offered by some providers which can be as low as 1.2%.

However, rates often depend on the type of business you run, your average transaction value, turnover, how long you've been in business, whether more than 20% of those transactions are 'cardholder not present' (orders taken over the phone).

Some businesses are seen as riskier than others and can attract higher rates to account for this.

Minimum monthly fees are about right or these type of accounts but don't get hung up on the minimum monthly fee as merchant banks make their money on the rates they're charging you, additional charges for, say, chargebacks, PCI non-compliance fees (can be as much as £60pm!). Also consider how long you'll be tied in for and penalties for trying to walk away from the contract.

Two businesses operating on the same street using the same merchant provider can be paying totally different rates depending on the above.

Shop around and look for testimonials, especially if ongoing support is an issue. No point in a cheap solution if it doesn't deliver - like my local take-away's broken terminal!