NBS Agents >> Merchant Account Agent and ISO Programs

I want to file some formal complaints involving my business merchant account and a credit card company. Trying to figure out the best way to go. Do I file a complaint with the state they are located in via attorney general? Appreciate any ideas.

In my experience the credit card company sets the rules and the merchant accepts them. If you’ve tried to work out your disagreement with the credit card company but couldn’t reach resolution you should turn to whoever is named in an arbitration clause if one is present in your contract. I doubt that an attorney general is going to be interested in your dispute unless it involves fraud or other criminal activity.

What does your company attorney say about this?

Does anyone have personal business experience with paypal? I have heard mixed reviews, but am searching for a reliable and CHEAP merchant account for my yahoo internet business.

It would be fine! I have an account with them that I use for Ebay and have never had a problem. Every question I’ve Ever had they’re quick to ans by email even very very quick and will bend over double to help ya! go for it!

I am looking into becoming an agent for United Bank Card. They are a merchant payment processor….http://www.isoprogram.com/why_ubc/

I would like to know the following:

1) is it still a good oppty to go out and sell and secure new merchant credit card accounts if so why

2) what questions should I ask any merchant processing company I or ISO I am considering working with regarding compensation, my portfolio of new accounts i bring in which is my book of business or my business i build up

4) What are the advantages or disadvantages of working directly with UBC as a agent Versus an ISO or under another agent

5) If i go work with an ISO or under another agent what questions should I ask him

6) If i go work with an ISO or under another agent I am concerned my compensation and accounts i sign up, since i do not know how this works what should i be asking about compensation, accounts that I pick up are they his or mine, can i sell them off at some point etccc

7) what should I be getting paid on new accounts and how when i am selling credit card machines and opening new merchant accounts not sure what is considered good fair or excellent compensation

what should i be thinking about when trying to decide with which merchant credit card processor to work for, need to know how to determine whom would be a good company to tie up with since I will be building a residual income from the accounts i bring to them concerned about getting hurt in terms of the accounts i secure which is my book of business and whether I can sell it off or whatever not sure of what I should be asking myself concerning this area, need to know what is it exactly I should be asking them when it comes to any new accounts i bring in related to credit card merchant accounts, pos systems, atm’s…

I’m an ISO for UBC on my spare time. It’s one of the best companies I have worked with yet. Their pay outs are generous and their support staff if helpful. It is a good company because I have been working with them part time for over a year and I haven’t had any problems with them at all.

You will want to know what the residuals they are paying you are, how and when you will be paid them. And when your life time residuals kick in.

What state are you in? I know someone in the business I could refer you to, that could answer these questions for you real well.

Okay, I really don’t wanna hear how I should do my own homework, you could have finished it by the time you finished typing this. 1, History is my worst subject so it takes me forever, and 2, I type fast. Basically I have had a really bad week and I haven’t slept in over 2 days now.

I am working on this as well right now. Already got some answers but my brain just really isn’t here today, or for the past week for that matter.

So please please please if you like history or are good at it please help. You deffinately would get 10 pts best answer.

Thank you so much in advance. I really mean it..

Ps… I think I need coffee….

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1. Which of the following was NOT a contributing factor to the outbreak of war in Europe in 1914?
A. a policy of militarisom
B. a complex system of alliances
C. a growing sense of nationalism
D. a shift in public opinion toward isolationism

3. How did German’s U-boats violate international law?
A. by disguising themselves with flags of neutral nations
B. by stopping vital supplies from reaching the front lines
C. by attacking merchant ships without letting passengers flee to safety
D. by conduction surprise searches of merchant ships in neutral waters

4. How did President Wilson respond to the sinking of the Lusitania in 1915?
A. by demanding that Germany stop unrestricted submarine warfare
B. by calling on Congress to approve a declaration of war against Germany
C. by sending navy ships to patrol Atlantic waters and sink any U-boats they found
D. by warning American sitizens that they traveled on foreign ships at their own risk

5. In the Zimmermann note, what did Germany promise Mexico in return for its support during World War I?
A. Germany would cede territory in Africa to Mexico.
B. Germany would not attack Mexican merchant ships.
C. Germany would help Mexico regain terriroty in the United States.
D. Germany would loan Mexico money to jumpstart its economy.

6. How did the U.S. government build the large fighting force it would need to enter World War I?
A. It encouraged women to enlist as well as men.
B. It allowed blacks to train and fight alongside whites.
C. It offered high wages to anyone who volunteered to fight.
D. It established a national draft for young men aged 21 to 30.

7. Why was the timing of the arribal of the American Expeditionary Force in Europe crucial to the Allies?
A. The Germans had recently enlisted Italy as an ally in the war.
B. The British had recently lost all their battleships in a large sea battle.
C. The French had just retreated from the battle front after heavy losses.
D. The Russians had just signed a peace treaty with Germany and left the war.

8. Which of these statesments BEST explains the development of trench warfare in World War I?
A. U-boats cut off supplies to the troops.
B. Airplanes made it easier to spot enemy positions.
C. The invention of tanks made ground assault impossible.
D. New long-range weapons turned battlefields into death traps.

9. Why was the Meuse-Argonne Offensive a significant battle of World War I?
A. Nearly 1 million Americans died in this battle.
B. Germans agreed to a truce shortly after this battle.
C. The ccity of Paris was destroyed as a result of this battle.
D. The Allied victory in this battle convinced Russia to leave the war.

12. Which of these was neither a push factor nor a pull factor in the Great Migration?
A. increased job opportunities in the North
B. growing racial tension in cities in the North
C. widespread pooverty among sharecroppers in the South
D. fear of lynching and violence against blacks in the South

13. What power did the Sedition Act give the federal government during World War I?
A. the power to spy on new immigrants
B. the power to draft young men into the military
C. the power to fight dissent that could damage the war effort
D. the power to control what and how much factories produced

15. On what grounds was Charles Schenck’s conviction for promoting draft resistance upheald as consitutional in Schenck v. United States?
A. Free speech does not include all forms of symbolic speech.
B. Free speech does not exist during a time of national emergency.
C. Free speech can be limited to protect the safety of the speaker.
D. Free speech can be denied when a clear and present danger exists.

16. Which of the following was NOT part of President Wilson’s Fourteen Points?
A. requireing reparations from defeated nations
B. protecting freedom of the seas in both war and peace
C. establishing a League of Nations to ensure world peace
D. encouraging European nations to reduce their armaments

17. What was the fate of Germany’s colonies at the end of World War I?
A. They were given to the Allied nations as part of reparations.
B. They were allowed to exercise their right to self-determineation.
C. They we
Soryr, I just realized 17 – 20 was sorta missing. I’ll try and work on those.
baphometx: Thank you so so so much. That does help alot, you have no idea. Thank you so much!
Okay, 19. According to President Wilson, how would the League of Nations maintain peace?
A. by excluding from its membership any country that started a way
C. by providing collective security to handle any threats as they arose
D. by outlawing war and requiring all nations to help create a world police force

I know it’s not B. And they all make sence.

The definition of it is…
League of Nations: an international organization established by the Allied powers at the close of World War I to promote international peace and security

And the paragraph I have is…
It called for setting up an international organization called the LON to ensure world peace. Member nations would agree to protect one another’s independence and territorial integrity. Under the principle that territory, nations respect on another’s borders and do not try to gain another country’s territory by force. Working together, Leage members would resolve conflicts before those conflicflicts escalated into war

Hi, I think I can help you with a few of these:

3. C
5. C
8. D

I hope I helped you out if at least a little – I took American History last year so I remember clearly some of these things. Good luck.

I would like to know the pros and cons of both. I have made a list of what I think of each but would like others input just in case I forgot to think about something.

I know with ebay I wouldnt have to advertise so aggressively but then there are the fees and possibly being scammed. And with the Yahoo Merchant store I could possibly design a professional site and avoid so many different fees. Yahoo would requiremore aggressive advertising and still presents the oppurtunity of being scammed.

I would just like the opinions of others. THANX!

CREATING YOUR OWN WEBSITE

Pros
- allows you to establish your own "real estate" on the Web;
- allows you to attract a bigger audience; not limited to eBay buyers (not everyone buys on eBay)
- scaleable as it allows your business to grow;
- allows you to give more information about your business to your visitors and give them reasons to trust you
- allows you to give more information about the product, play around with factors that can increase conversion
- gives you a more professional look
- makes you look like a "big" business (an e-commerce seller that also sells on ebay "looks" so much bigger than a purely ebay seller)
- you can put in as many items you want without paying listing fees
- you can sell as many items as you can without paying value added fees
- less restrictions than eBay (you are more free to write your sales copy)
- easier to market on the Web

Cons:
- requires technical knowhow to create a website (or money to pay someone to do it for you)
- fixed price (price you set is what you get)

SELLING ON EBAY

Pros
- auction format; prices can go up higher than you originally set it for
- eBay’s brand and size of its market

Cons
- listing and final value fees
- lots of restrictions
- harder to get onto search engines
- link exchanges are more difficult
- increasing competition (it is not as easy to sell now on eBay compared to others)

I would say it depends on what you want with your business. If you have a steady supply of product to sell (not just based on what you can find in your attic), I would go create a website – and THEN use eBay as an additional sales channel. You just have more room to operate and grow your business with having your own store.

Discover Credit card had been my only credit card for 8 years and don’t have any plans on applying for another credit card. Discovers customer service can’t be beat. Every time I need to dispute a purchase they take care of me and are on my side.

I only have an ATM card to withdraw money and without the Visa logo on it. I don’t want or need a debit card.

I pay at stores, gas stations and restuarants with cash or Discover Card.

Today I baught 2 new tires for my car at a local tire shop. The tire store has a sing in the window that says they accept Visa,MC, AMEX and Discover. When I paid for my tires the owner refused to take my Discover Card. His terminal takes Discover Card. He didn’t want to take my Discover because Discover charges him a 6% fee off of the purchase amount. Visa/MC charge a 1.5% fee off of the purchase amount.

The owner said can’t you use a Visa or MC instead of Discover? I explained that Discover is the only card I have.

I offered to write him a personal check and he refuses to accept checks.

I told him I will drive my car to the bank to get him cash. He refused to give me my car keys to drive 3 miles to the bank.

I told him that he should except my discover card so I can pay him and be on my way.

Unfortunatley because the bank was closed he will not be realesing my car until tomorrow when I bring him cash.
The tire shop owner claims no one has ever tried to use a Discover Card and most Discover Card customers would be happy to use a Visa or Mastercard so the Tire store owner can save money.

Why does a tire shop have a credit card terminal and merchant account with Discover and AMEX if he refuses to take the cards and pay the high merchant fee?
An auto repair bussiness only taking Visa and Mastercard is behind the times.

Many people have American Express or Discover as their only credit cards.

Refusing to take a personal check is also rediculus.
I called Discover Card to complain about this merchant. Discover Card also feels that I should have called the cops.

The account manager on the phone with Discover Card said that this guy sounds strange.
Elindreal

I asked for my old tires back and the shop owner told me he cut them up and threw them in the trash.

He asked if I could use a friend or relatives Visa or Mastercard.

I have an extra car key and was tempted to start up my car and just leave the shop without paying. I was concered that the tire shop owner would have my arrested for stealing.

for small businesses usually VISA/MC fees (after everything) come up to 4-5% .. believe me! … so the business owners thinking they are saving by not accepting discover and especially AMEX are very stupid.
people with amex/discover in general spent more .. another reason to accept them.

and this guy was false advertising.

This is for actual store owners/merchants. I am trying to get a better feel for what a good deal is for Credit Card transactions and with companies like PayPal and others offering the service for between 1.9% (over $1 mill) to 3% (0-$1000), I need to know if that is a good deal.

Geek is right – you only have part of the picture. But there is more to it than even he let on.

Let’s start by saying that what you should try to gauge is the EFFECTIVE RATE. The effective rate is the total percentage paid in fees for your credit card transactions over a given period of time. Your target for your effective rate will vary depending on your average ticket, total volume, method of processing and card assortment.

Your average ticket plays a big part in targeting your effective rate. A smaller average ticket will be impacted more by per transaction fees than a larger average ticket.

Example with 2% rate and $0.25 total transaction fee:
$5.00 transaction-
($5.00 X 2.00%) + $0.25 = $0.35 or 7%

$100.00 transaction-
($100.00 X 2.00%) + $0.25 = $2.25 or 2.25%

Example with 3% rate and $0.15 total transaction fee:
$5.00 transaction-
($5.00 X 3.00%) + $0.15 = $0.30 or 6%

$100.00 transaction-
($100.00 X 3.00%) + $0.15 = $3.15 or 3.15%

This tells us two things. First, the smaller your average ticket the higher your effective rate will be. Second, with a higher average ticket you should be more concerned about the rate and less about the per transaction fee while the opposite is true if you have a lower average ticket.

Once you have determined what your expectations should be based on your average ticket then the total volume, card assortment and method of processing come in to play. For starters, it is important to note that Visa and MasterCard (the card associations), and not merchant services provider, receive the majority (over 75%) of the fees that merchants pay for their processing services. The remainder of the fees, or the margin, is what the merchant processor receives. What this means is if you pay $10,000.00 annually in processing fees, over $7500.00 of this goes directly to the card associations and is non-negitiable by you or your merchant processor. The card associations have also designated over 240 different card categories that each merchant processor must recognize and process. Every merchant processor, no matter how big or small, is charged the same rates and fees by the card associations and every merchant processor differentiates each card category utilizing exactly the same card category name as designated by the card associations.

The card categories are designated in the following manner:
1.)Industry – Retail, Restaurant, Hotel, Government, Utility, Service Industry, Gas Station, Supermarket, etc.
2.)Type of Card – Personal Visa or MasterCard, Visa or MasterCard Debit, Visa Rewards, MasterCard World, Commercial Visa, Corporate MasterCard, etc.
3.)Method of Processing – Face-to-Face (swipe), Mail Order/Telephone Order, Key Entered, E-Commerce, etc.
4.)Processing Efficiency – Address Verification, Authorization/Settle Match, Timeliness of Settlement, etc.

These categories are as diverse as they seem. If a cardholder uses the same card to buy something from a retail establishment, lunch at a restaurant and pay their electric bill, all three of these transactions will be designated as a separate card and rate category. If a retail establishment accepts two different types of cards (ex. – a Visa Debit Card and a Visa Rewards Card) for a purchase of the exact same amount, both of these transactions will be designated as a separate card and rate category. The same is true for a Face-to-Face transaction as opposed to a telephone order. Furthermore, if a merchant does take a telephone order and doesn’t enter the required cardholder information, the transaction will be downgraded to a higher priced card and rate category than a properly executed telephone order.

Sure, some merchant processors offer a simplified statement format with bundled categories, but only to keep from disclosing individual rates. The simpler the statement format the less a merchant knows about what their true credit card processing costs are or should be. A simple statement also makes it very difficult to perform an accurate comparison to other programs. For many merchant processors, their most successful customer retention tool is their customer’s complete inability to understand their services. If you ask all of the right questions you will certainly be able to make an educated pricing decision.

There are some additional things to consider when making your merchant processing decision:

*Service, support, integrity and education-
Many merchants make their choice solely based on price. Be sure to ask questions about the service platform. The web is full of stories from merchants who have had horrible issues with a processor that they went with for a perceived $5.00 monthly savings.

*Leased equipment-
Always, Always, Always a bad deal. I have never spoken to a merchant who is happy that they did this. Do the math.

*Term agreements-
Avoid if possible and check the buy-out. Look for a processor who will sign you to an at-will agreement so you will always have open options.

*Beware "FREE" anything-
Free setup. Free equipment. Free software. These things cost the processor money and their margin is incredibly small – especially with small businesses. Ask yourself the what, when, why and how of your business giving away something for free and try to figure out what the benefit is of a processor doing it for you. If it is too good to be true……..

If you have any additional questions, feel free to contact me at (920)993-9433 or jbordeaux@windriverfinancial.com.

I’m looking to start on online business and I would like to get suggestions on the best deals on merchant accounts. What should I look for?

Simple Payment Systems is truly the absolute best for credit card and electronic check processing. The electronic check processes the check like a credit card. So if the check is deposited into your account ASAP from your business. If it is bad you know right away. I have done research for a long time. They give you FREE EQUIPMENT, free training, free software- with a check out cart! (if you have a web site also that you want to sell items on.) They beat discount rate quotes that you give them too. They have 24 hour live help, which is handy. FDIC insured. Make sure you tell them you want the free program. We switched from another company over to them. And have never been happier. Go to their web site and call them or fill out the form and they can contact you. I did countless hours of research! Trust me they are the BEST. The are cheaper than pay pal and more reliable. I have read and heard about too many problems with them.
Best wishes!

Can a merchant decides to transfer their credit card discounts (fees) to the customer? If not, how do you report them? I understand from a number of sources that it is against card association regulations, but can’t find a site to report non compliance

Passing those fees to the customer is against the merchant agreement. Call Visa or Mastercard and report them.

You won’t get a refund but you might make trouble for the merchant.

Christians,this IS a serious Question.

I am referring to a situation where you are seeking the services of a Merchant (a Service Provider, Salesman, Repairman, etc.) via a Billboard advertisement, business vehicle advertisement, and/or the Yellow Pages, and note that the merchant’s Business telephone # contains the numbers "666", probably issued inadvertently & innocently by the Telephone Company.

DOES this in any way influence your decision to use or NOT to use the merchant’s services ?

I will appreciate your answering this Question honestly & seriously, as I am engaged in a debate concerning this very issue with a business associate.

I don’t worry about what numbers come up where, that’s just silly.

However, I do make a concerted effort to NOT use the services of businesses who advertise themselves as "christian" or "christian-based" companies. Anyone who has to advertise their religion is not living it any way.