Credit Card Processing Account

They may offer free setup, but they will charge a fee for each transaction.

2006-10-16 14:15:54 by Joanne

www.elementps.com Credit card processing fees shouldn't be a mystery. Watch to learn how actual Visa and MasterCard fees can clearly be ...

I am setting up a merchant account and I'm wondering how long it will take before I see the money in my account after processing. Also does it differ depending on the credit card? (Amex, Discover Visa)

If you have a true merchant account (e.g. not a Paypal account) you will see Visa and MasterCard payments within two business days of your terminal batching. American Express and Discover will take three business days.

Notice it is business days. This means transactions processed on a Monday will be deposited on a Wednesday. Transaction processed on a Thursday will be deposited the following Monday since Saturday and Sunday are not considered business days.

It is possible to have Visa and MasterCard transactions deposited within one business day if the merchant account provider has a direct relationship with your bank. A good example would be Elavon (processor) and Regions Bank (Bank). If your business checking account is with Regions Bank and your merchant account through Elavon your funds will be deposited within one business day.

2009-06-22 08:13:10 by Junior 79

Price: $79.95

Credit card data is immediately encrypted once the card is scanned via your iPhone; you'll get authorization in seconds
Works with free Intuit GoPayment iPhone app; low monthly service fees
Low-profile, soft-touch case allows you to process any major credit card by swiping along the bottom of the case

We would like to accept credit cards for our business. Do we have to have a business checking account or could they set up to have our deposits go into a personal checking account?

Hi Lisa -

The answer to your question depends on the type of business. We have many sole proprietorship's that deposit into their personal checking account. If you are looking into getting set up please check out this website for more helpful information.

www.windriverfinancial.com

Thanks and good luck!!

2008-07-01 14:44:43 by Lisa F

Price: $39.95

Low monthly fees, no monthly minimum, no long-term commitment
Create custom invoices and estimates, bill customers for recurring charges and track payments.
LIVE Technical support available 24/7/365

Have you ever worked for a credit card processing company as a representative trying to open new accounts for credit card processing terminals? Did you have success with it? Make money? Competitive business?

Hi, I worked for a registered ISO/MSP for Visa and MasterCard (six years) and have done sales so I speak from experience.

You can make good money but it won't happen right away. The real money comes from residual income on the merchants you acquire. Although you can make money from selling credit card terminals that will only be enough to put food on your plate while you build up your portfolio.

As you build your portfolio your monthly income will grow accordingly. On average a typical merchant will make you about $25 per month. So when you are first starting off the residual income won't be enough to support you. But as your portfolio grows to about 100 merchants that residual income will now be $2500 a month or more which, when combined with your terminal sales, is enough to make a living. The average sales agent brings in 5 - 8 merchants per month.

Of course, your goal is to have as many merchants as possible in your portfolio and to land as many "big fish" as you can. Landing high volume merchants will make you much more money then landing start-up ecommerce websites as they tend to perform poorly. You also need to make sure you bring on enough new merchants to help offset the ones that leave you. Just like you will be stealing merchants from other sales agents, they will be doing the same to you.

If you plan on soliciting merchants directly a work week is never less then 40 hours if you hope to keep generating leads. You'll be spending half of your time generating leads and the other half making your sales pitch to the leads you have generated. Competition is fierce and merchants are reluctant to switch so don't be surprised to be turned down frequently.

I run the site below if you need to verify my knowledge.

2009-04-25 02:23:34 by rasckal

I bought my school books at the college book store with my debit/visa card. I had to return two of the books and 3 days later I still haven't received the credit to my account. How long does it take to recieve the credit amount from a return?

Remember that this is a holiday weekend. I'd expect it to be posted with 2-3 BUSINESS days. If it doesn't show up by Wed., contact the book store.

2008-09-01 11:13:56 by Ultraviolet30