Online Banking
Net Value for Business.(banks find internet banking for business customers is more profitable than internet services for consumers)(Brief Article): An article from: Bank Marketing [H] [T] [M]
(Digital) Bank Marketing Assn. 2001-07-01
Release date: 2005-07-28
Price:
$5.95
$5.95
Answers
Doing a project and I am stuck, as i am looking for a business model, and one that would for online banking
develop one?
do not think they are available freely
Pat Ryan, SVP and Van Wert City President for Citizens National Bank, talks about our Business Online Banking service.
We can pay bills to any business via internet banking, Is there any reason not to use it to send money to a residence or college dorm room using internet banking? Do banks simply mail a check when the payee does not have an electronic banking relationship (like major corps. seem to have)? Seems like a convenient way to send $ if a person can wait the 5 days it ususally takes.
I have actually payed my own mother using my billpay feature on online banking. If the merchant (or individual in this case) doesn't accept electronic payments, then the bank just cuts them a check and sticks it in the mail just like you would. I pay just about all of my bills this way. One added bonus (at least through my bank) is that there is no stop payment fee if you use bill pay whereas if I wrote the check and mailed it off it would cost me $32 to stop payment.
I have an online business that deals with a large volume of online transactions per month (Online credit card to bank account, and then from bank account to wholesaler) Anyways, will another standard business account do for this volume of transactions that are only done through the internet?
transaction account might be suitable for this purpose. yes other standard business account can do this volume of transaction if it is listed in banks policies.
Price: $14.95
I just started a new internet business and I have no money to start a bank account in order to collect my new businesses funds. I have not yet posted any method of payment onto my new site because I am required to have a bank account in order to have a place for my finance collector to deposit the business funds. I have searched the internet without any luck. Any that could help me to aquire such a means of securing the funds, might would be credited to the company in weeks to come by means of C.O. discounting. In other words if you leave an email with your answer and I use your methods of aquiring my needs then I would (in weeks to come ) show my appretiation! I love giving people gifts! Thank you all and have a nice night. Levi.
www.wachovia.com or www.bankofamerica.com
clearancecenter28504@yahoo.com
also www.paypal.com
I'm starting my own online business and need to process credit cards. I'm familiar with paypal and clickbank but would like to see if getting a merchant account with credit card processing features be a better fit for my business.
However, I know that many banks do not like internet businesses, so is there a company that specializes in this type of accounts?
Hi. I agree that local banks aren't too fond of giving individuals doing internet business a merchant account with credit card processing features.
I know, I've been there. That's why I went with paypal when I started my online ventures.
But there comes a point in time when your sales will eventually be large enough to make you want to go with your own merchant account credit card processing.
But it's not a step that should be taken lightly. There are many things to watch out for and you have to be well informed before choosing a company to go with.
For my company, when it was time to take the leap, I first searched online, like google and yahoo, and found a few companies that had great features, and some offered free merchant accounts.
One in particular is http://www.electronictransferservice.com .. now I'm not recommending that you go with their service, but at this website, I found a lot of information on credit card processing and companies that provide the service.
You should check out their FAQ page, it's filled with tons of useful information. Another good thing is you can call them and ask questions and get answers from a real live person. That really helped me learn how all this stuff works.
I eventually went with another company, but at least I had the information I needed so I was able to make the best choice for my business. You will have to look into it yourself and figure out what kind of features you want and need.
But one of the main things is fees. You will want to make sure that you don't get charged excessively, and that is one of the things you will have to make sure you know about, because there's a lot of fees involved.
But with the right amount of effort and time that you put into your search for the right company, you should have no problems finding one that fits your internet business.
Hope this helps.
Good luck.
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Ok, technically you do need those things, but most people dont. Unless you are making over $100,000 a year, I wouldnt worry about it. Most people just pay the self employment tax when the time comes. It seems the IRS doesnt care about the business licenses for small time people, because its hard for them to classify what is a business and what is just selling things online as a hobby to get rid of some things. I would suggest you stay away from ebay though. I mean go ahead and try to sell on there, you never know, you might get lucky. But most people are not making money on ebay anymore, those days are over and ebay is losing visitors every month because they made some bad changes last year with the new CEO. So I would suggest you build your own website and sell off there. I was a powerseller on ebay, and along with thousands of other powersellers, we had to set up our own websites overnight when ebay changed their policies without any warning. So starting a business on ebay, is like putting all your eggs in one basket. If that basket breaks, you’re out of business and living on the streets (especially in this economy with few jobs out there). So I would have a backup plan and work on selling on other sites or on your own site if you do go that route. Paypal is safe, but its not 100% safe. They will sometimes hold your money for ridiculous reasons (If you sell 2 or more of the same thing in one day, they may put a 21 day hold on your funds, which is what they have been doing to many sellers, and they did to me once, even if its only $5 for each item. They held $34 of mine for 21 days.). They say this is “suspicious activity”, but anybody who owns a business should be able to sell more than 2 of the same items in a day, how else can you stay in business? If I have 20 pairs of shoes Im selling and they are all the same, why cant I sell 2 pairs the same day? So sometimes paypal does this, not everytime, but they just started this. The truth is, they are being sneaky. Its really their way of holding peoples funds in the bank account, so they can earn interest on it during those 21 days. So I think every day, they find thousands of people who made more than two transactions, and hold all their money. So lets say they hold 1000 people’s money in one day, and all of those 1000 people had transactions of $50 or more. Thats $50,000 that ebay/paypal is holding on to for 21 days, imagine the interest they make each time they do this. So ebay made some dumb changes last year, and it affected their visitor base, so now they are trying to make those profits back through their paypal company, since ebay owns paypal. I actually worked in ebay’s mail room a few years ago for about 9 months before I quit. They are a very dishonest company, not just to ebay sellers, but also to their own employees. So I still use paypal on my website, because many people prefer to pay that way, but I also try to offer google checkout and other forms of payment too. Try not to put all your eggs in one basket. For the amount of money you spend on ebay fees, you could just as easily set up a website, put paypal buttons on it, and then pay to advertise your website instead of paying ebay fees to advertise your listings. Ebay is also unfair now, because sellers can not leave negative feedback for buyers. So if a buyer does not pay, you cant really do anything to them. If you file an unpaying bidder form, the buyer may retaliate and leave you negative feedback. If you get just 1 negative feedback on ebay, they will take your listings and put them to the back of the line, or not show them at all. So basically, you would be paying ebay to advertise your item, but buyers wouldnt be able to find it on ebay, so they would be ripping you off. Very dishonest. I mean go ahead and try ebay, you may get lucky, but a warning: Even if things go good for you on ebay, which I doubt they will, you should also be working on making your own business on a website, just to be safe. Ebay was a good website to sell on until John Donahoe became the CEO. That guy has no idea what hes doing, he keeps trying to change things, and everytime he does, he angers the sellers, and scares off the visitors.
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