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    5 Replies Latest reply on Jun 23, 2009 7:51 PM by newbizwoman

    Starting a new online merchant business

    newbizwoman Newbie
      I am starting my new business for which I already have a website. I will be selling DVD's, CD's and Advertisment for our business magazine. I will also be offering printing services and would like help as to accepting credit cards. I already have a business license but have not opened a business bank account. I am wondering if there is such a thing as free business account and the lowest fees for credit card acceptance. Since my business is starting, sales will most likely be low and would not be able to pay for a credit card service without having any sales. I need all the help I can get.

        • Re: Starting a new online merchant business
          LUCKIEST Guide
          Starting a new online merchant business, Welcome

          Suggestion: Talk to Barry at " amspcs ". Great guy, great help with credit card service.

          Good luck
          • Re: Starting a new online merchant business
            amspcs Ranger
            Hello Newbiz. Thanks for the referral, Luckiest.

            Re free business checking account: You need to shop around locally, as different banks offer different small biz programs and incentives. I know B of A around here waives monthly bank account fee if you use the check card attached to the account at least once during the month. Another bank around here also touts totally free business checking account with monthly check and deposit limitations or something like that. As I say, other banks in your localitiy may have other programs without fees as well--you need to do a little homework over the phone.

            Re lowest fees for credit card acceptance: This gets a little dicey here as this can be interpreted in a number of different ways which the sales types love to manipulate in their favor, so you need to tread carefully here. As a result of your post you are going to be deluged with sales pitches for 'guaranteed lowest rates' and on and on and on. Don't go there, As a small start-up with admittedly low initial volume, forget 'rates'. You need a program with little or no setup fees and minimal monthly fixed fees such as monthly fees, gateway fees, minimums etc---the 'rate' is inconsequential at this point.

            Drop me a line and provide your contact info and we'll have a conversation. With a little more info, we should be able to find a good fit. Thanks, and good luck.

            • Re: Starting a new online merchant business
              wayonda Wayfarer

              You can find banks that will give you no monthly fee accounts if you maintain a certain balance. I think UB Bank is only $100.00 to start plus you don't have to order checks for your new business if you don't need them.

              The fastest and easiest and cheapest for a new cc processing account is to use PayPal.... No bank BS set up fees, no review, no monthly charge and lower transaction fees. You can add your logo and personalize it etc. and people have no aversion to using paypal. I would do that first and as your volume increases you can change later. You can get it up on your site and running in 29 minutes and there is plenty of customization to fit different product descriptions. Wayonda.
                • Re: Starting a new online merchant business
                  amspcs Ranger
                  I realize this sounds contrived, my being in the merchant services business, but it needs to be said anyway.

                  The comment suggesting that the poster start only with Paypal is a little off-base. We have long maintained and recommended that Paypal can and probably should be a PART of any payment processing solution. But never never never should Paypal compromise the ENTIRE payment solution. Relying on Paypal ONLY condemns a business to be small time mom and pop class forever without hope for sustained growth or ever getting to the next level. Too many cash flow restrictions. Too many verification hassles to potential paying customers. And too many lost buyers who simply walk because they refuse to divulge personal info on Paypal or similar second-tier payment vehicles with questionable security.

                  As we orignally commented, there ARE many real payment programs out there that are legit, cost effective,
                  and will fulfill the needs of the original poster. It's simply a matter of doing some homework and finding them, not just settling for the so-called easiest and cheapest alternative.