Just signed up for MerchantPLUS

[jimmybob479]

Ok, I just submitted my application for merchantPLUS. Within it, it requested I give info on my supplier or a customer. I used a 2nd phone and put a ⊗⊗⊗⊗ name. When receiving any call to verify, what should I expect?

Also, I put my estimated volume to be about 4k a month..if it happens to go over, is that OK as I "build trust", or will things get frozen? Also, is there a cancellation fee if I end my service within the next year?

[proudpapa4]

Good credit required for Merchant Plus account?

I'm curious to the answers to your questions as well. I thought with merchant accounts we should be using our "real" information.

[jimmybob479]

Not sure about the good credit. I have good credit though.

I did use my "real" information, but my supplier is overseas and doesn't like me to hand out his info left and right, so I'm going with this.

I applied last week, and today I was informed they declined my application. Because I have no credit at all, lol. I used all real info though.

[oge]

So all that spamming and you didn't get approved? Now what? Back to PayPal.

[aspkin]

I talked to them a month back and they say a lot of people are not getting approved.

Time to find another merchant account.

[revenge]

Try this one here, the only next step is to ebay approval. So do some homework. I do know of a merchant that take bad credit apps and claim to be ebay compatible, however I haven't tried them PM me for there website link.

[revenge]

Updates your better off getting a tax id and a business registered, then build credit for your business and get a merchant getway. Ebay and Paypal will take you more seriously when your a business with its own identity. Plus you don't have to worry about HAVING BAD CREDIT. A business with a tax id is tide to it's own credit, it has its own identity. It's like a social security with a credit history tide to it. There are loops to bad personal credit. I have bad credit but my biz has good credit so I get approved using my good credit. And if you have no credit then build it, it's easy especially if you in ecommerce.

Also use ebay certified wholesalers and drop-shipper as a supplier info.
__________________________________________________ ________________________
Curiosity didn't kill the cat, they just hush him up because he know to much. Don't tell ebay what you know.

[GreenBean]

Originally Posted by revenge

Try this one here, the only next step is to ebay approval. So do some homework. I do know of a merchant that take bad credit apps and claim to be ebay compatible, however I haven't tried them PM me for there website link.

First Data is not recommended. Several users had far too much trouble with with them.

Be careful what you recommend,friend

[Lyda]

First Data will rip you off big time.... They will approve your account, email you 6 pages of small print to sign and than after they raise their fees every 2-3 months and you finally had enough of them and want to cancel, they will hit you with $170 penalty if you do so before the year is out.
Depending where in the year cycle is that you want to cancel, it may prove to be more "cost effective" to keep on paying them inflated account monthly fees to avoid penalty -especially if you have only 2-4 months left with them. And if so, expect to get hit with yet another $75 fee just for deciding to close. Does not matter that your contract with them expired.. They'll get you one way or the other.You want to close - you pay. And..... you signed that when you didn't bother to read 6 pages of tiny small print.

[revenge]

Originally Posted by Lyda

First Data will rip you off big time.... They will approve your account, email you 6 pages of small print to sign and than after they raise their fees every 2-3 months and you finally had enough of them and want to cancel, they will hit you with $170 penalty if you do so before the year is out.
Depending where in the year cycle is that you want to cancel, it may prove to be more "cost effective" to keep on paying them inflated account monthly fees to avoid penalty -especially if you have only 2-4 months left with them. And if so, expect to get hit with yet another $75 fee just for deciding to close. Does not matter that your contract with them expired.. They'll get you one way or the other.You want to close - you pay. And..... you signed that when you didn't bother to read 6 pages of tiny small print.

What are your recommendation? I wouldn't recommend it for a someone with good credit. However, it seen that the good merchants are for preferred candidates and the not so good one are for the not so good credit reports consumers. Thank for sharing you insight on this company, was that a personal experience? One thing about doing business is that you have to read ALL the fine print and the red tapes. You'll be surprise what you can find on companies policy such as eBay which many buyer and sellers overlook. Example from ebay "We may also share your personal information with:
Members of the eBay Inc. corporate family—like PayPal, Skype or Shopping.com - Therefore, although we work very hard to protect your privacy, we do not promise, and you should not expect, that your personal information or private communications will always remain private."

[Lyda]

Yes, it was personal experience but I didn't know at the time how bad they were and thought it was reputable company I was signing up with. If I just Googled them before I signed on with them I would have known better. Live and learn....I don't use merchant account at the moment, but if I will I am doing my due dilligence first....

[dennisjaneway]

do you know.....

must i confirm the order when the costumer orders?

Or do they send the money automaticly?

[revenge]

Originally Posted by Lyda

Yes, it was personal experience but I didn't know at the time how bad they were and thought it was reputable company I was signing up with. If I just Googled them before I signed on with them I would have known better. Live and learn....I don't use merchant account at the moment, but if I will I am doing my due dilligence first....

Yes, I fully agree with you. I had experiences in the past that could had been avoided by doing some research such as company review, product review, company scam, or searched the ebay forum for other peoples personal experiences. It's best to learn from other people's mistakes, it can save you time and money.

The worst that could happen is not finding any reviews, stories or testimonial. That when you have to read all the fine print and ask many questions or just wait for someone to else to give you feedback on there experience.

[Lyda]

Exactly! Its real easy to Google just about anything.. Don't see how and why I didn't. But I do know now.. I think. lol

[soccerstar19]

Originally Posted by oge

So all that spamming and you didn't get approved? Now what? Back to PayPal.

LOL, I had my hopes up. But yea back on paypal. I got both ebay and paypal verified and I'm hoping for the best.

But Merchant plus did say they will try to submit my application to another bank that accepts more people. Not getting my hopes up though.

[oge]

Ohh now you have a new name to spam with?

Originally Posted by oge

Ohh now you have a new name to spam with?

I dont spam, I help people who dont want to deal with paypal and are looking for a alternative.