[hackerspaces] Merchant Service Account Reccomendations

Carlyn maw carlynorama at gmail.com
Tue Nov 1 17:47:38 CET 2011

That is all great info... Thanks!

On Tue, Nov 1, 2011 at 4:24 AM, Neil <hackspc at narwani.org> wrote:

> Hi all,
> New to this list and still lurking, until I get around to an intro.
>  However, some quick notes re: merchant accounts...
> Beware: there are 2 general rates you get charged at -- the base rate and
> the corp/rewards/int'l rate.  The latter is higher and applies to any
> international CC, corporate CC, and any CC where the card-holder gets any
> form or reward (cash back, miles, points, etc).  And the catchy low rate is
> if you physically swipe the card vs. keying it in via a virtual terminal
> (website such as authorize.net).
> In theory, I was supposed to be paying 2.9% base rate and a bit higher for
> the corp/int'l/rewards cards, but in practice (from bank statements) it
> seems that in the past year over 95% of my transactions are charged at the
> higher rate, and that works out to be ~5.9% (!!!).  Remember there's a flat
> per-transaction charge also.
> Most will accept MC/Visa/Disc, and Amex is usually separate/higher.
> Don't forget to ask about monthly fees, annual fees (yes, some have both),
> chargeback fees, refund fees (yes, some charge a percentage to issue a
> refund), statement fees, batch fees (daily for sending the money to you
> account), and minimums.
> I've been shopping for a new processor again, and so far Chase seems to be
> one of the better ones, at 2.25% + $0.20 for either base or
> corp/int'l/rewards cards.  I have a list of different rates/fees/etc from a
> handful of other companies and can get it for you when I get back.
> Cheers,
> -Neil.
> Quoting Chris Hardee <shazzner at gmail.com>:
>  We use our bank's merchant services along with Auth.net to process
>> payments, which in turn we use freshbooks to handle reoccuring billing and
>> keep track of accounts.
>> On Mon, Oct 31, 2011 at 9:27 PM, Carlyn maw <carlynorama at gmail.com>
>> wrote:
>>  So CRASH Space just tried to get a merchant services account via
>>> dharmamerchantservices.com and they were cool, but their under writing
>>> bank (Moneris) was freaked out by the fact that we, gasp, taught lock
>>> picking and associated with "hackers." I think it is kinda funny.
>>> They are going to put us in touch with someone else, although it is
>>> likely
>>> we'll just go with our bank and sign up with authorize.net directly, but
>>> anyone have a credit card processing group they like? Anyone know
>>> anything
>>> about http://beanstream.com/ ? I'm probably going to call them tomorrow
>>> just to get a feel for them.
>>> Happy Halloween...
>>> Best,
>>> -- Carlyn
>>> ______________________________**_________________
>>> Discuss mailing list
>>> Discuss at lists.hackerspaces.org
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>> --
>> Chris Hardee
>> 10BitWorks
>> San Antonio Hackerspace
>> 10bitworks at gmail.com
>> http://10bitworks.com/
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