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Thread: suggested Merchant Account provider...

  1. #1
    Join Date
    Jul 2012
    Posts
    1

    suggested Merchant Account provider...

    Hi, I hope my question is clear and that someone out there can help!

    I'm launching a small web-based business in which i will need to process credit card payments through a virtual terminal. Since I will be offering a relatively costly service (in the range of $250-500 I expect occasional chargebacks. I understand that a wide range of Merchant Account provides (both banks and third party companies) impose strict sanctions on businesses with frequent chargebacks. for example, I am aware taht some Merchant Account providers will often freeze an account after several chargebacks, delaying your ability to withdraw your funds.

    I need a merchant account provider that simply charges me a fee for the chargeback and doesn't impose any other sanctions on my account.

    In other words, I have no problem covering the cost of the chargeback and being charged a fee, I just cannot afford to lose access to my funds even for a few days.

    Any suggestions on a company I should look into?

    Thanks!

  2. #2
    Join Date
    Jul 2012
    Posts
    16
    I don't know of any companies that won't impose sanctions if you have too many charge-backs.

  3. #3
    Join Date
    Mar 2010
    Posts
    360
    Exactly right. Too many chargebacks label you as a dodgy merchant and to be avoided.
    Live fast. Die young. Leave a beautiful body of code.

  4. #4
    Join Date
    May 2012
    Location
    Latvia
    Posts
    11
    Hi!

    Tell me a little more about your business, or send me a pm!
    All is dicsussible!

  5. #5
    Join Date
    Jul 2012
    Posts
    16
    You'll get the best rates from your local banks (if they will take you), otherwise another option is instabill, they are known for taking high risk companies.

  6. #6
    Join Date
    Aug 2011
    Posts
    15
    Not sure of any merchant accounts that match what you need but you might want to talk to a bank near you like mentioned to see if they can help.

  7. #7
    Join Date
    Nov 2011
    Location
    New York, NY
    Posts
    2
    Agreed with all the above answers. Because these merchant account providers are underwriting the risk you are taking on (if you go out of business, they are liable), if you have too many chargebacks, they will start to worry. Obviously, some providers are more proactive than others and have harsher penalties.

    What kind of business are you in? What kind of chargeback codes are you looking at /anticipating? Maybe you should look into ways to prevent those chargebacks from happening, or at least reduce the number of times chargebacks occur. But that all depends on what your business is and who your customers are.

  8. #8
    Join Date
    Oct 2011
    Location
    USA
    Posts
    8
    I'm following this thread and seeing lots of mis-information. First of all, you are correct that too many chargebacks will get your account frozen or much worse. But this has NOTHING to do with the individual processor you are using. These chargeback parameters come directly from the card associations (Visa and MC) themselves. If a merchant exceeds the chargeback ceiling for their specific business classification, the processor MUST take action or risk sanctions themselves from the card association. Secondly, the quote to the effect that local banks provide the best rates is not only incorrect, but the 180 degree opposite from the truth. Fact is, local banks usually have the highest rates because, not being acquiring banks themselves, their function is only that of a unnecessary middleman in the pricing scheme,
    which of course only serves to increase merchant cost. We have dedicated an entire webpage to this myth at http://www.merchantservices-help.com/middleman.html Facts: If you have a chargeback problem, there ARE steps and procedures that can be taken. this involves proper training from a merchant processor specializing in your business type. If you chose your processor soley on the basis of 'cheapest rates" and as a result are dealing with a processor with no expertise in your business area, that is probably a big part of your problem right there.
    Automated Merchant Solutions, Inc.
    Ecommerce Payment Solutions
    Barry Godofsky
    amspcs@juno.com
    www.MerchantServices-help.com

  9. #9
    Join Date
    Jul 2012
    Location
    USA
    Posts
    9
    Its cool around here and i really think this could even be better.

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