Re: ebay selling... anyone can teach to sell 20k per month? Quote:
Originally Posted by gagan MM78? Why? you can not find a way to have so much sales? | After 9/11, the US Government enacted The Patriot Act. It added a lot of requirements when it comes to banking and transferring money. Even Western Union payments are tracked. Try sending $2,500 from the USA to another country - they will require your social security number and a driver's license. These requirements are in place to help prevent the funding of terrorist activities. Unfortunately, it has also made it more difficult for honest people who want a degree of anonymity to do business.
But even BEFORE all that, no payment processor is going to allow you to transfer that volume of money unless they know who you are, have confidence in your business model and can see that you have the financial capacity to take a hit if need be. Credit cards can be charged back up to 180 days after a charge is made and the banks almost ALWAYS side with the buyers. If a payment processor has given you the money and you either cannot or will not pay them back, they are left holding the bag.
Any monthly volume over $5,000 will typically require risk assessment and underwriting. Sometimes it can be even LOWER than that. There ARE some payment processors that specialize in high-risk accounts, but they charge 20% of each transaction, not the typical 2.5%.
That is why you are getting all these snarky comments. We are looking at your requirements and thinking " This guy doesn't want a PAYMENT PROCESSOR, he wants the RUSSIAN MAFIA!"
Last edited by jeffweico; 03-02-2014 at 10:44 PM.
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