Merchant plus high fee SCAM, AVOID to use!!! - 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 > General Discussions (Off-Topic) > Entrepreneur > 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 01-16-2009
Junior Member
 
Join Date: Apr 2008
Posts: 11
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 90%
iTrader: (0)
Unhappy Merchant plus high fee SCAM, AVOID to use!!!

I signed up a merchant account from merchantplus.com about 6 months ago, which was easy and the rate was 2.15%
However, they increase the rate to 4.59% recently for every transaction without notice. PLEASE CHECK YOUR STATEMENT!!
This is SCAM, they charge much more than GAYPAL!

Can anyone recommend a better merchant company?

Thank you.
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 01-16-2009
philly387's Avatar
Executive [VIP]
 
Join Date: Jul 2008
Posts: 1,629
Thanks: 71
Thanked 132 Times in 82 Posts
Activity: 0%
Longevity: 88%
iTrader: (3)
Send a message via Yahoo to philly387
Default

First Data Card Services
Authorize.net

Those are a few good ones out there
__________________
Please Read These 2 Threads What Is Vero? and Register & Join the Forums Today!
Reply With Quote
  #3  
Old 01-17-2009
Jonas's Avatar
Senior Member
 
Join Date: Apr 2007
Posts: 1,959
Thanks: 5
Thanked 19 Times in 17 Posts
Activity: 0%
Longevity: 98%
iTrader: (0)
Default

My current merchant account is 2.28%. They've been good for a long time and then suddenly they claim they're having money troubles and charged everyone $80 they claim to offset their costs and then signed everyone up for a $10 a month junk subscription to some garbage, but they let people opt out of the $10 a month subscription.
Reply With Quote
  #4  
Old 01-18-2009
aspkin's Avatar
Administrator
 
Join Date: Jan 2007
Posts: 10,549
Thanks: 2,852
Thanked 3,598 Times in 1,538 Posts
Activity: 42%
Longevity: 100%
iTrader: (24)
Default

Hmm, interesting... this would make sense of some of the conflicts I've had with them.

Thanks, guys.
__________________
\_(ツ)_/ Get -->

Notice: A SHORT & SWEET PM gets answered before ANY other PMs sent me.
Reply With Quote
  #5  
Old 01-18-2009
Jonas's Avatar
Senior Member
 
Join Date: Apr 2007
Posts: 1,959
Thanks: 5
Thanked 19 Times in 17 Posts
Activity: 0%
Longevity: 98%
iTrader: (0)
Default

Cover their losses for fraud and chargebacks? There's the whole chargeback fees. Unless the merchant does a lot of ⊗⊗⊗⊗ charges and then vanishes to South America, the merchant account providers likely profit off them.
Reply With Quote
  #6  
Old 01-20-2009
Junior Member
Threadstarter  
 
Join Date: Apr 2008
Posts: 11
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 90%
iTrader: (0)
Default

Quote:
Originally Posted by Modee View Post
In general the higher the rate, the easier it is to get and maintain the account. All that extra cash helps the more lenient merchant processors cover their losses for fraud and chargebacks.

But if I were going to pay 5% I would just get an account with CCNOW, who will approve any slob.
You are right. Now the only benefit is the merchant money withdraw faster than CCNOW. Mercahntplus charge $39 fee for charge backs though.

This is RIP-OFF, I called them couple times, they told me that only Business Credit card and international credit card will be charged higher rate. But none of my customers use those cards. Then they said the last word, it depends on how the Visa/Master company charge, it's out of their control. WHAT AN ANSWER!
Here is a worst one, they didn't tell you that you will be charged an early termination fee for 3 years terms at $295. It's not printed on the application or agreement, it could be in separate documents but they never give you at first. I compare some other merchant providers, some have 1 year only, and some even no such E-T-F.

I guess Dear Aspkin should update this information in the ebook.

I'm still finding a way out, otherwise all my little profit become merchant company's FREE lunch.
Any good merchant company suggestions? Please help!
Reply With Quote
  #7  
Old 01-22-2009
MU
 
Join Date: May 2008
Posts: 363
Thanks: 3
Thanked 26 Times in 13 Posts
Activity: 0%
Longevity: 89%
iTrader: (0)
Default

humm, maybe I should try and reapply with them again since they denied me of bad credit.
They are probably yearning for new customers now.....

Also on there website they still advertise the old rates

Last edited by imthatguy; 01-22-2009 at 02:18 AM.
Reply With Quote
  #8  
Old 02-04-2009
Jonas's Avatar
Senior Member
 
Join Date: Apr 2007
Posts: 1,959
Thanks: 5
Thanked 19 Times in 17 Posts
Activity: 0%
Longevity: 98%
iTrader: (0)
Default

I emailed them about it and linked to this very thread. This is their response:

Quote:
2.15% is our qualified rate for Visa/MasterCard. Certain cards may "downgrade" to a higher rate depending on certain risk factors that are determined by Visa/Mastercard. We do not control whether a card downgrades or not. this is a tiered system which virtually every merchant provider out there offers.

In this case the merchant was setup for a qualified rate of 2.15% and a non-qualified rate of 4.44%. There was a industry-wide increase of .15% and that is what probably caused them to see a 4.59% on certain cards. In reality they were still setup on a 2.15% qualified rate.
Reply With Quote
  #9  
Old 08-07-2011
Vale's Avatar
Junior Member
 
Join Date: Sep 2010
Posts: 22
Thanks: 0
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 70%
iTrader: (0)
Default

First Data is the same avoid at all cost
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
Selling high end electronics - EBAY views this as High Risk Activity someperson eBay Discussion! 23 04-01-2009 02:37 PM
How to best avoid 21 day hold: Would Merchant Account do? outlet101 PayPal Talk 2 12-22-2008 11:10 PM
High risk Merchant account tvaughan08 Payment Processing 3 12-17-2008 10:51 PM
High Risk Category, Google Checkout, and Merchant Account TMiles Payment Processing 7 12-06-2008 12:31 PM
Hi, anyone think about how to Add Merchant account and Avoid fax in doc? Jessica1458 Payment Processing 4 09-10-2008 06:58 PM


Aspkin Group

All times are GMT -5. The time now is 11:00 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 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts