Forum

Quick paying Merchant Account
 

I dont have 100+ feedback and cant stand the 21 day hold. I want to setup a merchant account for the customer to use and I need to use the money very quickly (to compound profits). The longer the cc card holds the money the worse. Can anyone recommend a merchant account that releases the money right away or the next day? Is that possible ? Thanks

where are you from ?

I am from New York city. Does it make difference?

^^^Different countries have slightly different requirements on the FB total. 'ebay' was trying to help you.:cheer:

Most merchant accounts will not release funds that quickly, in any case. Much depends on what you are selling & the volume of money being put thro'.

The question is which one I should choose? The speed that I get my money is a big factor. Thats why I liked paypal so much, but with under 100 feedback, they make me wait....and wait...and wait.. Even if the buyer gives me positive feedback or 3 days after delivery , I still have to wait for the delivery +1 to 3 days. I have limited capital and need it for more merchandise. There has to be a merchant account that pays the same or next day. No?

Don't know of one.. It is usually 2-3 days everywhere.

Thanks Lyda. So I guess Ill just go with my prior merchant bank. They have Authorize.net which I was told is needed. Does anyone know if I have an pre 2007 ebay account, can I use only the merchant account and not offer paypal? Thats not a very smart thing to do? is it?

You are supposed to be able to use merchant accounts without faxing in documentation on a pre 2007 account. Depending on what you are selling, this may help or not. Certain categories you are required to link and use Paypal exclusively.

A pre mid Nov-2007 account should not need paypal. Category of item will be a factor,though.:peace:

I sell used laptops. Is that allowed via merchant account?

You do not need 100 feedback to stop the holds. You only need a DSR rating of 20 or more. So you would probably have to sell about 30-35 items b/c you dont start getting DSR points until after your first 10 feedback points. Then you have to factor in the number of people that dont even bother to leave feedback for you.

Thanks Aking. I appreciate your input but my question is if I sell used laptops is it possible to not offer Paypal and just use my Merchant account or just use MoneyBookers?. Is paypal mandatory. Is it required for this category of laptops by Ebay?

Hi all. I'm new to the forum and can't find the introduction thread to properly introduce myself to the forum members. Anyway, I know that I will be able to learn more and share my ideas with you as well.

Hi there Alewitinn, according to the website (New York Merchant Accounts) I found just this morning, you do not need 100 feedback to stop the holds. It says that you only need a DSR rating of 20 or more. Which means you probably have to sell about 30-35 items. Which also means, you don't start getting DSR points until after your first 10 feedback points.