Candlelovr Posted June 6, 2006 Share Posted June 6, 2006 I've been having alot of merchant companies calling me wanting to set up their cc machine in my home. It sounds good and everything, ya know, no up front fees, low monthly fees, only a .25 cent fee for each transaction...free imprinter for taking out into the field...I just dont know if I should do this right now. Im brand new, still tryin to get my inventory built up and get my catalog and brochures done...shoot, I dont even have a logo yet! Anyway, I do need the imprinter and one company offered me that, even offered to waive the start-up fee of 17.50 if I dont have any transactions by 7-15. Did you guys get your cc machines right away? I want to be able to accept MC/Visa because I feel like if I dont, I will lose some business (ie..."I dont have any cash on me right now!!) and I wont be accepting checks.This is what this company quoted me to get set up:Visa/MasterCard Card Rate 2.35% and .25 cents per transactionMonthly Gateway fee: 10.00Monthly Statement fee: 8.00Montly Minimum: $0.00Annual Fee: $0.00Please let me know what you think, whether or not I should go ahead and do this. Thanks!Dana Quote Link to comment Share on other sites More sharing options...
Bunny Posted June 6, 2006 Share Posted June 6, 2006 Do you have daily business? I would look into propay first.. It'll cost you the "knuckle buster (you can get them with custom plates through ebay) and you'll be able to see if you actually need to accept CC's, and not be stuck in a long contract. Quote Link to comment Share on other sites More sharing options...
RobinInOR Posted June 6, 2006 Share Posted June 6, 2006 I'd judge the need on whether you want to spend $216/year + whatever they'll charge for a machine, for something you might be rarely using. I'm still using Propay after 3 years. Quote Link to comment Share on other sites More sharing options...
Candlelovr Posted June 6, 2006 Author Share Posted June 6, 2006 I dont have much business right now, just friends and family really. Im expecting by the end of July, I will be ready to go out and sell retail. Not gonna do wholesale right now. But if I happen to get any orders right away, I would like to be able to accept cc's if thats the only form of payment that they have on hand. I dont know if there is any contract, I will contact the company and find out. Quote Link to comment Share on other sites More sharing options...
Guest EMercier Posted June 6, 2006 Share Posted June 6, 2006 I have propay! After much procrastination and wanting to find something else. I love it! Quote Link to comment Share on other sites More sharing options...
Janette Posted June 6, 2006 Share Posted June 6, 2006 If you are planning to do lots of shows then consider having some method of receiving credit cards. If you are just selling from your home to friends and their freinds then maybe accepting cheques will be enough for you now.If you do open Merchant Credit Card Accounts, check with you local chamber and see if membership with them will get you a break on the fees from Merchant Services.Janette Quote Link to comment Share on other sites More sharing options...
KristinesShower Posted June 6, 2006 Share Posted June 6, 2006 I didn't get my merchant account until year 3 of my business - otherwise it was Propay.com all the way baby!!! Quote Link to comment Share on other sites More sharing options...
Candle Man Posted June 7, 2006 Share Posted June 7, 2006 I've been having alot of merchant companies calling me wanting to set up their cc machine in my home. It sounds good and everything, ya know, no up front fees, low monthly fees, only a .25 cent fee for each transaction...free imprinter for taking out into the field...I just dont know if I should do this right now. Im brand new, still tryin to get my inventory built up and get my catalog and brochures done...shoot, I dont even have a logo yet! Anyway, I do need the imprinter and one company offered me that, even offered to waive the start-up fee of 17.50 if I dont have any transactions by 7-15. Did you guys get your cc machines right away? I want to be able to accept MC/Visa because I feel like if I dont, I will lose some business (ie..."I dont have any cash on me right now!!) and I wont be accepting checks.This is what this company quoted me to get set up:Visa/MasterCard Card Rate 2.35% and .25 cents per transactionMonthly Gateway fee: 10.00Monthly Statement fee: 8.00Montly Minimum: $0.00Annual Fee: $0.00Please let me know what you think, whether or not I should go ahead and do this. Thanks!DanaWOW!!! 2.35% to me is high. I only pay 1.73% Quote Link to comment Share on other sites More sharing options...
KristinesShower Posted June 7, 2006 Share Posted June 7, 2006 That is pretty high, but I think they go on what you make (or charge) per month. When I first started my merchant account I was getting 1.92% & now I am down to 1.23%.I wouldn't go with someone advertising on the phone Dana - go to your local bank. They will do things for you that these other guys won't - especially if you live in a smaller town. They really look out for their own. Quote Link to comment Share on other sites More sharing options...
Candle Man Posted June 7, 2006 Share Posted June 7, 2006 That is pretty high, but I think they go on what you make (or charge) per month. When I first started my merchant account I was getting 1.92% & now I am down to 1.23%.I wouldn't go with someone advertising on the phone Dana - go to your local bank. They will do things for you that these other guys won't - especially if you live in a smaller town. They really look out for their own.That's true, one bank in my town came to my store to talk to me about murchant account credit cards. They offered me a flat rate instead of a transaction fee & a % fee, I may be switching. Quote Link to comment Share on other sites More sharing options...
Candlelovr Posted June 7, 2006 Author Share Posted June 7, 2006 WOW!!! 2.35% to me is high. I only pay 1.73%Thats cheaper that someone else that called me, they wanted 2.99% and 135.00 up front. Quote Link to comment Share on other sites More sharing options...
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