no bank acct, need a merchant acct - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > Shopify Discussions > Payment Processing

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

Reply
 
Thread Tools
  #1  
Old 05-10-2013
Junior Member
 
Join Date: May 2013
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 53%
iTrader: (0)
Default no bank acct, need a merchant acct

Hello everyone,

I just found this website the other day. I love it. My situation, I can't get a regular checking acct cause I'm in chk system. I would like to get a regular merchant account were I can accept credit cards. I know a lot of prepaid cards are linked to an acct # and routing #. Is their a prepaid out there that I can use as a bank acct to link to a merchant acct. I do not have a website. Just wanted to type customers info into a virtual acct online. Thanks for any feedback.
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 05-12-2013
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,038
Thanks: 5,510
Thanked 9,036 Times in 7,038 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default

Merchant accounts require ID and credit checks.

Simple fact of ecommerce.

All processors will protect themselves.

Reply With Quote
  #3  
Old 05-13-2013
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 62,092
Thanks: 4,830
Thanked 7,531 Times in 6,873 Posts
Activity: 100%
Longevity: 78%
iTrader: (7)
Default

Register your business and operate well - dont look for loopholes. GB has laid out a simple rule of ecommerce.
Reply With Quote
  #4  
Old 05-15-2013
Junior Member
Threadstarter  
 
Join Date: May 2013
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 53%
iTrader: (0)
Default

I have an ID and have fairly decent credit. Just don't have a bank account. My question was can I use a prepaid debit card as a checking bank acct since it has a routing and acct number?
Reply With Quote
  #5  
Old 05-21-2013
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 62,092
Thanks: 4,830
Thanked 7,531 Times in 6,873 Posts
Activity: 100%
Longevity: 78%
iTrader: (7)
Default

Quote:
Originally Posted by michael702 View Post
I have an ID and have fairly decent credit. Just don't have a bank account. My question was can I use a prepaid debit card as a checking bank acct since it has a routing and acct number?
Yes few prepaid debit cards have been working - Amex Bluebird, Payoneer, Rush, etc - read around the forums - see what limitations each card has - there are also significant fees involved.

Have you gone to local credit unions? They might have more flex options for you
Reply With Quote
  #6  
Old 05-21-2013
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,038
Thanks: 5,510
Thanked 9,036 Times in 7,038 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default

Quote:
Originally Posted by rsot View Post
Have you gone to local credit unions? They might have more flex options for you
Correct term is flexible options.
__________________
Ever look at someone and think “WhyTF has no one hit you with a shovel yet?
Reply With Quote
  #7  
Old 07-02-2013
Ebayorbust's Avatar
Executive [VIP]
 
Join Date: Jul 2009
Posts: 5,548
Thanks: 493
Thanked 2,227 Times in 1,439 Posts
Activity: 31%
Longevity: 81%
iTrader: (56)
Default

Brian,

Do you have permission to advertise on this forum?
__________________
UK PAYPAL & HIGH LIMIT EBAY ACCOUNTS FOR SALE HERE
FRESH US & UK IP ADDRESSES HERE
EU LIMIT LIFTED ACCOUNTS BACK IN STOCK
Reply With Quote
  #8  
Old 07-03-2013
jeffweico's Avatar
Executive [VIP]
 
Join Date: Mar 2010
Posts: 7,219
Thanks: 895
Thanked 4,066 Times in 2,168 Posts
Activity: 0%
Longevity: 76%
iTrader: (12)
Default

You can probably get approved for a merchant account, but you WILL need an actual bank account, preferably a business account.

You can get a bank account at "second chance" banks, one of which I am aware is WoodForest. They don't care about Chex Systems.

I don't think that an account attached to a prepaid card is going to do it for you.

The good news is, you can likely be approved for a merchant account. I used Charge.com as they told me if they could not approve me, they could find another processor who would. I was approved by them directly.

I have NO affiliation with WoodForest or Charge.com and do not benefit in any way if you decide to use them.

The thing is, if your credit is so-so, then you may have a monthly sales limit - usually $5,000 and/or a rolling reserve. Rolling reserves are between 5% - 20% of your sales. They are typically held for 6 months - so if you did $1,000 in sales in January and your reserve was 10%, you would get $900 immediately and then $100 in July.

When looking for a merchant account NEVER pay a non-refundable "application fee" and make sure you understand what the monthly costs are - because you will have to pay them regardless of whether or not you have any sales.
Reply With Quote
  #9  
Old 07-03-2013
Senior Member
 
Join Date: Jan 2013
Posts: 563
Thanks: 34
Thanked 124 Times in 108 Posts
Activity: 0%
Longevity: 55%
iTrader: (2)
Send a message via Skype™ to AuctionsDenied
Default

Quote:
Originally Posted by rsot View Post

Have you gone to local credit unions? They might have more flex options for you
Take the advice of RSOT and Greenbean, try credit unions in your area. Won't hurt to try.
Reply With Quote
  #10  
Old 12-31-2013
Junior Member
 
Join Date: Dec 2013
Posts: 5
Thanks: 2
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 48%
iTrader: (0)
Cool Re: no bank acct, need a merchant acct

Advice based on what I have used in the past....
There are two Visa debit card companies that are rated very high,
One is netspend, the other is Kaiku.
Both will provide you a account number and a routing number.
Both will verify very fast through Paypal.
According to google they also offer business debit cards.
I have used both, no issues transferring paypal money to them.
And no problem getting them verified.
Also there is a prepaid Master Card from Prepaid Debit Cards | Easy Prepaid with Everyday Card | MasterCard®, The fees and limits on these are very reasonable considering what they are,
Personally I back them up with a credit union account,
Hope this info helps.
Reply With Quote
  #11  
Old 12-31-2013
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 62,092
Thanks: 4,830
Thanked 7,531 Times in 6,873 Posts
Activity: 100%
Longevity: 78%
iTrader: (7)
Default Re: no bank acct, need a merchant acct

@DaveK, how much and how recent has your experience been with Netspend?
Reply With Quote
  #12  
Old 01-04-2014
okay's Avatar
Senior Member
 
Join Date: Aug 2013
Posts: 407
Thanks: 123
Thanked 24 Times in 24 Posts
Activity: 0%
Longevity: 51%
iTrader: (0)
Default Re: no bank acct, need a merchant acct

Quote:
Originally Posted by rsot View Post
@DaveK, how much and how recent has your experience been with Netspend?
Yes, and how much recent experience with the Kaiku, also??


Last edited by okay; 01-04-2014 at 08:26 PM.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
I need a UK bank acct to verify my stealth UK Paypal acct abibio2001 UK PayPal Talk 8 04-14-2019 04:09 PM
New ebay acct but using existing paypal acct with new email address aaaka eBay Suspensions 7 05-08-2010 06:10 PM
old ebay acct suspended for linking PP, opening new acct w/ other PP on old acct royalguy eBay Suspensions 1 09-03-2009 11:54 PM
Do I need a bank acct to create a seller acct? mycat2 eBay Suspensions 3 12-14-2007 07:09 PM


Aspkin Group

All times are GMT -5. The time now is 09:39 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts