How can I set up a Merchant Visa Account?

[bobadebt]

Anyone know of an honest online way for me to accept Visa and Mastercards?

[Darth Hez]

The best way I can suggest would actually be to contact your bank. They should be able to give you all the details about either an online terminal, or an actual card swiping kind of terminal.

The first one is great if you plan on having an online shop, the second one is better if you plan on taking orders over the phone. Online terminals usually cost more, I have the card swipe kind.

If you have any more specific questions about it, drop me an email. Right now I'm going to bed though, so it'll be tomorrow before I can get back to you.

[prop demigod]

You can call Cardservice International at 800 456 5989... They are who I have been with for seven years. They have better rates than the banks.

However, be prepared for an interrigation! They don't just hand out merchant accounts to anyone. Because of all of the fraud out there, they will want to know the color of your underwear. You will have to provide a BUNCH of info. They actually came to my shop and took pictures of the house/equipment/products, etc... I also had to provide copies of my magazine ads, website, distributor contacts, etc so they could see I had an office and a operating business and wasn't running a scam.

They will give you Visa/Mastercard. Once you have that, you are pre-approved for Discover and Amex. No additional approval was necessary, as I had the "blessing" of Cardservice.

There are companies that give out merchant accounts much easier, but Cardservice is the largest, most recognized. I would be nervous of some of the ones that I get solicited by all of the time. They look pretty flaky.

Beware of the ones that only ask for a few pieces of info and POOF! you accept credit cards! Instant approval!!!

As a customer, I would be afraid of a company that could get approved without having gone through some sort of examination...


PS: Avoid Amex like the plague. They have TONS of fees that they hit merchants with and were total pricks to work with. I cancelled them after only a year. I have never lost any sales because of that either...One customer didn't pay his bill and they came AFTER ME!!! I couldn't believe it. They said there was a clause in my contract that I could be liable for a customer not paying his bill. I am absolutely serious. I had to get a lawyer to write them a letter telling them to cram it.
(I won)

Hope that helped.

[PaulF2000]

BOBA-"Anyone know of an honest online way for me to accept Visa and Mastercards?"

My wife has a merchant account. She has been with BofA for six years. We don't use it as much now, but pay the fees anyway so we will not have start up another account.

When Kristina filled for her account you had to have near perfect credit and they base the rates on credit. As with paypal the card service gets a fee every time you get a payment.

Card Service is a good company, you may want to try your local bank, if you have a good history they can lend a hand.

Paul

[aStanze]

If you're going to start a business(initiate a credit card papertrail)....I highly recommend you incorperate to protect your personal assets and credit, I know it sounds crazy...but I wish I did that when I had my business. Any attorney can have it done for you for about 3,000 dollars and a few days.

-Stanze:cool: