NBS Agents >> Merchant Account Agent and ISO Programs

I finally got through to someone at the bank who had a clear answer. Once a payment is authorized the merchant has 30 days to collect the money. If they decide to collect the money after that point is considered a fraudulent transaction.
I finally got through to someone at the bank who had a clear answer. Once a payment is authorized the merchant has 30 days to collect the money. If they decide to collect the money after that point is considered a fraudulent transaction.

Almost everything is done electronically now a days. Once the merchant swipes your credit card it is automatically sent to your credit card company. If a merchant did a manual charge and held it for an overly long period of time, you need to check with your credit card company to see how they handle that type of situation. I would think that each individual credit card company has their rules pertaining to how long a charge should be good for, just as banks have rules regarding how long a check is good for, though that rules applies to all checks and all banks.

If I order something by phone or on-line and I receive the item but the purchase never appears on my credit card, how long is the merchant allowed to delay processing my payment? After a certain amount of time does their ability to process it expire?

One time I returned something to payless.
That darn company took about almost 60 days to credit my account.
(by credit card)
I don’t know if this lady at corporate was telling me the truth, but she said,
they have 60 days to process payments and debits.

Don’t call that merchant and remind them.
You might just get the item for free.
They may have lost their receipts.
/

for the past 15 years I have used, through my bank, a major card processing (merchant services) company with never a hitch. I do feel they get spendy, but now an independent card processing company gave me a proposal that would save $100 per month. They do have a good rap sheet but I can’t figure how they make money and would it be wise to change for only the small amount they can save?

In my experience the interesting thing about the merchant services business is how may competitors are out that and how everyone of them are willing to undercut the other to gain your business. I always advise my clients to shop around. You may not get the best deal at first, but once you start and stay with a company for a little while and then shop again the deal will get better and better. Merchant services make their money off your sales, with very little to no overhead so its easy for them to undercut.

I would go with the better deal. If you are very comfortable with your current processor (peace of mind is priceless) you can show them the proposal and they may match that offer.

Hope this helps!

What else can we say other than we will save you money

have only been in biz for 50 yrs; what
is a merchant processing rep?

have been teaching college biz for
decades; this is a slang term or
a mis-used term somewhere.

Maybe you mean credit card processor?

I need a merchant account to process credit cards online, can I open one online?

It’s easy to open a merchant account online. There are many merchant account providers that will let you process credit cards online. PayPal is a popular choice.

But if you need more features that require a true merchant account, I’ve found this one below to be quite helpful in getting setup .. http://www.ElectronicTransferService.com .. it’s pretty fast to get setup and their fees are very reasonable.

You also get a free merchant account when you setup your payment gateway through them.

Hope that helps!

There are a number of things you can do. First, you should get your card processing service from a fast and stable processing company. Secondly, be sure you are on a broadband connection and not dial-up. Thirdly, get the latest card terminal and reader equipment. In addition, you can also choose an integrated POS system with integrated card processing capabilities.
You can read more about it by visiting the link provided below.

I want to start an e-commerce and need an idea what fees (approximately) payment processing companies (such as ogone) charge the merchant. If it is too expensive I would consider Paypal which does look less professional.

> Setup fee: A lot of payment companies charge you a setup fee when you register with them.
> Account maintenance fee: Some companies charge a monthly/annual maintenance fees.
> Processing fee: You also need to pay processing charge for every transactions.
> Security deposit: Some companies require you to pay security deposit.
> Withdraw charge: Some companies charge a fee when you withdraw money.

All above fees (whether applicable or not for your processing company) vary depending on company.

If you are a beginner, Paypal is best way to start as they are less expensive (no setup fee, no security deposit) to start considering other companies.

Costco merchant services

Opened account in July, small arts/crafts shows, have aquired more fees than agreed to. Terrible cust svc, want to send back & cancel lease. Co said "is NON-CANCELLABLE". 2 banks say "you can always get out of a lease" but didn’t offer guidelines. No $ for lawyer. Help

If you can prove that they are charging you something that you did not agree to then that would be a breech of contract on their part. Now if you do your research and find that they are not in the wrong then it will be hard for you to get out of the contract.

So I would suggest that you look at your contract very carefully and find their screw ups because they can’t refute those. The reason this process is so difficult is because when you give them the information about how much you make in sales and you sign that contract, you are guaranteeing that they will make a certain amount of money off of you.

And they are going to do what they have to, to get that money. Sorry you are going through this and I hope this helps.

Very best rates on all type of cards – Reward, mid-qualified, and corporate? PNC, Costco any others?

Costco. Check them out at http://www.elavon.com/acquiring/costco/