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accepting credit cards

updated tue 27 mar 07


Cindi Anderson on fri 11 jun 04

This is a really good point. In the past I recommende Costco Nova merchant
services, but
I have to rescind that recommendation. They overcharged us $4000 because
something happened to our account and it took me at least two dozen phone
call, letters and fax'es before they responded. Kept asking for managers,
but the manager would say "all I can do is email xyz department and they
will respond in 24 hours" which of course they never did. We do a lot of
transactions (high $ amount), but they don't care. They are incompetent.
Now I have Wells Fargo because I can go to the local branch if I have a
problem, until somebody does something about it.

----- Original Message -----
> I just learned a big lesson from my old credit card company and now am
> with my local bank.

flatrockclay on fri 11 jun 04

I just learned a big lesson from my old credit card company and now am back
with my local bank. The lesson was that I sold one large item compared to
my regular sales of $10-500. This one was $1500 with another 1500 payment
in a couple weeks. The company called me to tell me that they were holding
the funds for six months bec it was more and also that the card was not
present (phone order). I knew the purchaser and know the reliability of
their funds. But my merchant services said that they could hold any moneys
over the $500 for up to six months and that I would have to keep as much as
20-60k in my business checking account to cover these should the customer
deny the charges for the next six months. That doesn't even include the
money I would not get for six months to replace inventory.

Although I now am at the higher rate at my local bank, I have all the money
in my account within a couple days. It is also much nicer dealing with my
local hometown bank who knows me. This is not a horror story but I hope it
helps others to ask the right questions of the company they plan to go with
for credit cards. By the way the sales man lied and I should have gone to
their customer service first to ask the questions. Good luck.


Gail Phillips on mon 26 mar 07

Paymentech, which I believe is a Potter's Council member benefit program, is $3.95/month.

Not too bad.

- Gail P., Indy

Lee Love on tue 27 mar 07

I don't know how capable cell phones are in the USA, but here in
Japan, I have a Nokia I can access the web with. Paypal offers
something called Virtual Termial, in the USA only:

Lee in Mashiko, Japan
Minneapolis, Minnesota USA

"To affect the quality of the day, that is the highest of arts." -
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