1. Advertising
    y u no do it?

    Advertising (learn more)

    Advertise virtually anything here, with CPM banner ads, CPM email ads and CPC contextual links. You can target relevant areas of the site and show ads based on geographical location of the user if you wish.

    Starts at just $1 per CPM or $0.10 per CPC.

Accepting Payments

Discussion in 'Payment Processing' started by affihq, Dec 22, 2006.

  1. #1
    I have a few questions about payment processing, my business is starting to move up and I am thinking that now I will be needing to process much more transactions than previous.

    Firstly, I won't be using any third party money handling companies C2O, Paypal, or anything like this.

    What kind of payment processing does the big websites use like: Monster.com, Amazon.com, etc.?

    Also, in regards to banking, let's say you are depositing at a rate of 10k-100k/month, if you own a business account will they freeze your account, or if you own a personal account will they freeze your account?

    What should be the deposit range, and how much should I have with a maximum balance/deposit per month per bank?

    I currently have 3 bank accounts, and am just wondering how many bank accounts I should have to keep from raising flags, and from keeping accounts getting frozen.

    Also, is wire transfers a good idea for doing transactions? or do potential customers get deterred by actually having to do something?

    Thanks in advance :)
     
    affihq, Dec 22, 2006 IP
  2. Amoy

    Amoy Active Member

    Messages:
    247
    Likes Received:
    2
    Best Answers:
    0
    Trophy Points:
    53
    #2
    wires are expensive
     
    Amoy, Dec 22, 2006 IP
  3. Corey Bryant

    Corey Bryant Texan at Heart

    Messages:
    1,126
    Likes Received:
    51
    Best Answers:
    0
    Trophy Points:
    0
    #3
    It depends on where you are usually. It sounds like you need / want a merchant account with an electronic payment gateway (LinkPoint, Verisign's Payflow, Authorizenet.com).
     
    Corey Bryant, Dec 22, 2006 IP
  4. jestep

    jestep Prominent Member

    Messages:
    3,659
    Likes Received:
    215
    Best Answers:
    19
    Trophy Points:
    330
    #4
    Are you based in the US?

    Large companies like Amazon either sign directly with Visa / MC, or they process through a large ISO. They normally process on what is called a passthrough rate, where they pay only a few cents over Visa / MC interchange.

    As far as a normal business, assuming that you are in the US, you would want to start with a traditional ecommerce merchant account. This in conjunction with a payment gateway (authorize.net, verisign, etc.) will allow a seamless processing setup on your website.

    As far as hitting flags, when you sign up for a merchant account you give the merchant account provider a bank account to deposit funds into. You can only give them 1 bank account for 1 merchant account. It is better to use a business bank account, but a personal account is acceptable in many situations. The bank isn't likely to hold your money since these funds are completely valid and you are authorized to receive them when you are approved for a merchant account. Also, a merchant account does not hold funds for you. The funds are automatically deposited into your bank account, so there is no way of controlling how much money goes to a specific account.

    If you are not in the US, the system generally works the same but there are some minor differences in the speed and the way that money is deposited into your bank account, and the actual bank account requirements.
     
    jestep, Dec 22, 2006 IP