Benefits of Merchant Accounts...?

deebee · #1 10-18-2010

Hello,

As you may have seen in my other thread..I'm ready to just bite the bullet with ebay/paypal. I can deal with the unfair suspensions, but what I cannot deal with is being screwed out of $2,800+ and having buyers open ebay/paypal cases just to score a freebie refund on items that they have.

So I wanted to ask, do merchant accounts cut this crud out? I don't even care if I'm "stuck" with $500-1,000 of merchandise (as I am this time around)..the concern, for me, lies in the fact that Paypal freezes your money...there are those 21 day holds which are a DOUBLE whammy..and they don't allow you to unlink your credit card. Do merchant accounts do this?

For instance, if I use my pre-2007 ebay and set up my ebay with a merchant account..all goes well..and I get a few idiots, as usual, who want to open case on me instead of communicating (mind you I include business cards and FREE gifts with their purchase and some are just complete scumbags looking for freebies..this has risen since economy has gone downhill) will they be able to freeze my funds? I just can't deal with that aspect. Paypal puts 3 weeks hold on thousands of dollars and if a customer threatens you and doesn't get a freebie..they have have those funds held too.

Sick of being treated like crap, as an ebay seller, and I'm not willing to go back unless I find out that merchant accounts somehow offer the seller somewhat protection. I don't care if people prefer not to pay for them...it will reduce my sales, but I will still make some sort of income.

rsot · #2 10-18-2010

My experiences with merchant payment processors is that the initially withdrawal period is relatively long - wait of 30 days or so to make sure no chargebacks. Then you can do regular 2 week withdrawals (ccNow).

However being a merchant account or not on eBay, you still need to have paypal enabled. You have to try to get customers to use your processor rather than paypal but most folx will still opt for the automatic paypal (unless you untick paypal and can offer moneybookers or paymate or propay - even then you will have people saying Why no paypal?)

If you're up for dealing with this hassle then merchant pre-07 is good. The issue of chargebacks and scams is not really averted sadly.

deebee · #3 10-18-2010

From what I have been told..Merchant accounts have the money to your personal bank account within 2-3 business days...? Also, why would one need Paypal enabled if they have a merchant account? Really confused.

rsot · #4 10-18-2010

eBay always wants one of the main payment processors that are allowed - so options are paypal, moneybookers, paymate, propay, etc. And - others can correct me if wrong - but there is a standard %age of sales that need to go through paypal - like 86% or so.

BUT with a pre 07 account, you can accept credit cards and other forms of payment if you have the merchant processor. Yes these merchant processors will have the money to your account in 2-3 days - my point is that there is usually a standard 15 day or so hold on funds to protect against chargebacks - and while they review your business.

If I am way off, I apologize - other folx will chime in.

deebee · #5 10-18-2010

Quote:

Originally Posted by rsot

eBay always wants one of the main payment processors that are allowed - so options are paypal, moneybookers, paymate, propay, etc. And - others can correct me if wrong - but there is a standard %age of sales that need to go through paypal - like 86% or so.

BUT with a pre 07 account, you can accept credit cards and other forms of payment if you have the merchant processor. Yes these merchant processors will have the money to your account in 2-3 days - my point is that there is usually a standard 15 day or so hold on funds to protect against chargebacks - and while they review your business.

If I am way off, I apologize - other folx will chime in.

I see. Well I have TWO pre2007 accounts that I haven't touched inyears..but they still work. Does this give me a brighter outlook? If there's a rule about 86%, then I'm officially DONE even trying with ebay.

rsot · #6 10-18-2010

It does give you a brighter outlook I would say. While you do need a paypal attached to the account, I say get moneybookers or some other ebay-allowed payment option; get a merchant account (I like ccnow which accepts credit cards and paypal from other people); untick paypal in your auctions and keep mb (for example) and credit card accepting feature.

If people complain about using paypal, explain that your merchant processor (CCNow in my case) accepts paypal and go from there. You will have to coax the clients manually a bit.

deebee · #7 10-18-2010

Quote:

Originally Posted by rsot

It does give you a brighter outlook I would say. While you do need a paypal attached to the account, I say get moneybookers or some other ebay-allowed payment option; get a merchant account (I like ccnow which accepts credit cards and paypal from other people); untick paypal in your auctions and keep mb (for example) and credit card accepting feature.

If people complain about using paypal, explain that your merchant processor (CCNow in my case) accepts paypal and go from there. You will have to coax the clients manually a bit.

What a pain in the @$$. All for $2,000/average a month...at most, really...EXTREME amounts of stress for that? Thanks ebay...looks like I'm better off flipping burgers and cleaning houses!

incniu · #8 10-18-2010

It is easy to open CCNOW account? What are their fees?

Quote:

Originally Posted by rsot

It does give you a brighter outlook I would say. While you do need a paypal attached to the account, I say get moneybookers or some other ebay-allowed payment option; get a merchant account (I like ccnow which accepts credit cards and paypal from other people); untick paypal in your auctions and keep mb (for example) and credit card accepting feature.

If people complain about using paypal, explain that your merchant processor (CCNow in my case) accepts paypal and go from there. You will have to coax the clients manually a bit.

rsot · #9 10-18-2010

5% cut of sales plus I think it's either a 9.95 rolling monthly charge OR 39.95 one time charge - yeah bit pricier than paypal but I like it compared to the scare of making withdrawals in paypal.

Relatively easy to open - you can do stealth smartly.

deebee · #10 10-19-2010

So would you say CCnow is the best merchant account service? Look at this http://www.ccnow.com/prohibitedProducts.html...it looks like there are so many restrictions. I want to sell designer bags, clothes, and fragrances..some used...some new...and I also sell vintage stuff...crafts...etc..make up. Think it will be an issue?

rsot · #11 10-19-2010

Link is kind of broken but I remember reading about that listed. You can also get around that if you do it smartly - I think 1 or 2 users tried DVDs and that didn't work but others have had success.

I would not say CCNow is the BEST merchant account service - I haven't tried anything else ha. Authorize.net and bunch of others are not available to me since...well I'm Canadian /cheer

luna · #12 10-19-2010

absolutly right I would say same problem here.

Quote:

Originally Posted by rsot

eBay always wants one of the main payment processors that are allowed - so options are paypal, moneybookers, paymate, propay, etc. And - others can correct me if wrong - but there is a standard %age of sales that need to go through paypal - like 86% or so.

BUT with a pre 07 account, you can accept credit cards and other forms of payment if you have the merchant processor. Yes these merchant processors will have the money to your account in 2-3 days - my point is that there is usually a standard 15 day or so hold on funds to protect against chargebacks - and while they review your business.

If I am way off, I apologize - other folx will chime in.

jkim · #13 10-20-2010

I'm also interested in this merchant account thing, i thought CCNow wasn't really a merchant account, my ebay is also pre nov 07 and I am accepting payments through moneybookers right now but I want to use a merchant account to speed up money transfers to my bank.

If I apply and add CCNow to my ebay account, do buyers get to do all the checkout process in single checkout in ebay or do i have to manually send them something to get money??? ive been hearing people say manually this manually that but i dont understand, with moneybookers, its integrated with ebay so they get redirected by ebay and i dont have to "manually" do something after they purchase the item in order to receive a payment, please help me with this questions here someone