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Payment Processing Discuss payment processing with PayPal, Stripe, Authorize.Net, Bitcoin and other processors for your products and services.

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Old 07-28-2012
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Default New Merchant Account OK?

You know how it says to fax in your current merchant account statement? What if you just signed up for a merchant account so the current statement shows no activity... will they accept that? Would it be easy to create a bs statement without them finding out or does it have to match a bunch of stuff or something when you start accepting CCs?
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Old 07-28-2012
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I would black out all private information that they don't need to see
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Old 07-29-2012
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For which service?
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Old 07-29-2012
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Quote:
Originally Posted by JohnPublic View Post
You know how it says to fax in your current merchant account statement? What if you just signed up for a merchant account so the current statement shows no activity... will they accept that? Would it be easy to create a bs statement without them finding out or does it have to match a bunch of stuff or something when you start accepting CCs?
eBay recently requested this fax? or did you read that on this forum?

If you simply read that here, then this is no longer the case with eBay. All you need to add a merchant account is to:

Go to seller preferences in My eBay

Click on payment for buyers show link, then edit

click Accept credit/debit card payments to my merchant credit card account

Add you Authorize.net API/Login key, have a card ready to do a $1.00 test charge and that is it, dump Paypal and start getting paid.


You can add a merchant account to a brand new account with out having to fax info over, I run multiple stealth accounts with various Authorize.net accounts feeding into my one merchant bank for years now. I have never been asked to fax in my merchant account info, you had to in 2008-2009 which was why 2007 account were golden. We also had Auctiva also which was awesome while it lasted but eBay has its own checkout now.

Now if they requested to have you fax in for some strange reason, do what jerky said as above.
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Old 07-29-2012
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Thanks for the info bansheezone! I get the fax in message when I try to list an item and only check the CC boxes as a payment option. If they still want it I will black out most of the info... thanks!
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Old 08-12-2012
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Even when you use a merchant account you still have to accept paypal right? When I only select CCs as a payment option it asks me to send in my statement. Once you do so and they approve you then you don't have to accept paypal anymore? I just want to use a merchant account. I'm really tired of paypal issues. Would $20,000 in my first be too much for Authorize.net and will they place a reserve on my account?
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Old 08-13-2012
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Quote:

Would $20,000 in my first be too much for Authorize.net and will they place a reserve on my account?
$20k is a lot for ANY new service.
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Old 08-15-2012
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I meant to say $20,000 my first month. So will they put a reserve on me or something?
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Old 08-16-2012
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Worse than reserve potentially - most merchant accounts are heavily looked at in the first 60-90 days...but if your items are all legit and you have proof, prob ok to do.
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Old 08-16-2012
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Quote:
Originally Posted by JohnPublic View Post
I meant to say $20,000 my first month. So will they put a reserve on me or something?
Are you seriously asking that?

Of course amounts like that will be under check.

Suggest you talk to whatever merchant account holder you are going to use to find out their needs B4 you make them your source of payment.

Be careful
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Old 08-17-2012
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Here's a recent personal experience...used a merchant account to put through 20k+ in span of 2 months...got email from Risk department...money held for 6 MONTHS for potential chargebacks /dead...good luck
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Old 08-18-2012
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Quote:
Originally Posted by rsot View Post
Here's a recent personal experience...used a merchant account to put through 20k+ in span of 2 months...got email from Risk department...money held for 6 MONTHS for potential chargebacks /dead...good luck
SAME THING happened to me... I never had a chargeback or anything. I sent several emails, made several phone calls to higher ups etc, nobody would budge.

So I went to a busy forum (which is where I found out about them), where they have a pristine reputation, and blasted them. Their forum response was "lets take this to PMs." I threatened to let the forum know a whole lot more if this wasn't fixed immediately. Fortunately the owner of the company is the forum poster there, and we took everything to emails and within a week he gave me all my money.


Point is, rsot is right, definitely beware. I was approved for 25K/mo, and at less than 15K this happened.
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Old 08-18-2012
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Quote:
Originally Posted by JohnPublic View Post
Even when you use a merchant account you still have to accept paypal right? When I only select CCs as a payment option it asks me to send in my statement. Once you do so and they approve you then you don't have to accept paypal anymore? I just want to use a merchant account. I'm really tired of paypal issues. Would $20,000 in my first be too much for Authorize.net and will they place a reserve on my account?
you should start off by also taking Paypal if doing this on a stealth account. After 30 days take away Paypal as a payment.

These is a simple way to just edit your payment preferences, select which service like authorize.net, add you login/key in eBay and they run a $1.00 charge to make sure the gateway is good, been 3 years and numerous authorize.net accounts have been added to several of my stealth accounts without sending them anything.

It is extremely important that you let the merchant account your setting up with know the monthly volume you expect, also average sale, and highest ticket (price) that you expect to sell something. Most people do not have proper education when first starting on a merchant account which leads to the problems others described.

Build trust, go slow. They will review you at least once, or twice but if you handle your business correct there will be no problems.

I only use merchant accounts, and the one others hate and say are the worst out their yet I have never had a single problem with them.

Last edited by bansheezone; 08-18-2012 at 01:29 AM.
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Old 01-06-2014
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Default Re: New Merchant Account OK?

Old post, yes. I'm bumping it though. I was able to add my merchant and gateway to eBay and it says active and successful. I have the same prob too tho that I can't remove pp without receiving an error. I assume I'll have to phone eBay, anything I should expect during the call? I'm just hoping for the best, that's all. Thanks.
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