Which merchant account should i go for as well as a business account

[simpson7647]

hi all, im currently setting up a business selling products through prestashop in which i have set up with paypal, postal order and bank transfer.

Although im looking to set up a merchant account with my website so can anyone recommend me any as well as giving me prices/ fees.

Im also looking to set up a business bank account in which im looking to use my current bank, natwest.

One question i have with natwest is that i applied for a loan on my normal account saying its for a new vehicle, although im looking to use this for stock.
I suppose if i transfered the money from my normal natwest account to a business account, theres nothing saying its the same money but what problems could i face?

Many thanks

Ryan

 

[Setfire]

I wouldn't worry about moving your cash into the business. What the bank did was gave you an unsecured loan, and so I don't think they will care where the money actually goes. By taking out the loan personally, you will likely have paid lower fees than a business loan.

Effectively you have now loaned money to the business so you can charge the business interest.

My suggestion for PSP/merchant account is Secure Hosting.

 

[simpson7647]

I see exactly what you mean, many thanks your input Setfire.
its a 2000 pounds loan which i simply have to sign the paperwork and ill recieve it, so if i sign up for a natwest bank account and then simply transfer the money, it will be okay.
thanks


Thankyou, ill look into secure hosting

I would also like it to be able to link to prestashop easily.

thanks

 

[Rolo Tomasi]

I also have a prestashop - currently with the same payment options as you. I am 2 weeks into the process of getting a merchant account which will be with Streamline. Once I have this I intend to use Sagepay as my payment gateway as there is a module here which links to prestashop. I have used some of this guys other modules and they have all been great.

 

[simpson7647]

hi there, sorry i dont seem to understand this very well as i see you mention 2 names.

Please explain streamline and sagepay please?

Many thanks

Ryan Fairey

 

[TotalWebSolutions]

Streamline is the provider of the Internet Merchant Account and SagePay is the payment gateway. As with most Internet Merchant Accounts, you will also need a separate payment gateway. Depending on your volume of transactions, we may work out cheaper than the likes of SagePay so please feel free to take a look at our EcomMerchant service. We too have a module for PrestaShop.

Kind regards,

Simon

 

[simpson7647]

hi there and thankyou for your response.
What are the limits and costs of both the companies mentioned?

thanks

 

[Paul Kelly ICHYB]

' i applied for a loan on my normal account saying its for a new vehicle, although im looking to use this for stock'.

Be very careful - the money has been loaned and the vehicle would be the security. Using the money for something else, in extreme conditions, can backfire.

 

[simpson7647]

Thanks for yout input.
Thing is I'll be able to keep up with payments and if thevwirst happens, I've got a car for security already.
What ya recon?
Thanks