CDN Internet merchant account - Need help

Hello,

Short details about what i need from my merchant:

Accept major credit cards online
Real-time onsite processing
User validation
Recurring payments

I am from canada and in about 1 months time i will be needing an internet merchant account, i would rather get one from the bank for starters. Overall i am very new to this stuff, all my knowledge is based on reading online.. Heres what info i got down so far, but i dont know if its accurate and would appreciate canadians who have internet merchant accounts to tell me what they think or how they got their own internet merchant accounts.

In my understanding these are the steps:

1) Register a Business Identification Number (BIN) with goverment
2) Open Business account in my bank
3) Apply for Banks internet merchant service
4) Get gateway such as authorize.net

Now i was wondering if I can cut any of the steps or if getting a business account in canada is mandatory to get a internet merchant account..

I looked into Onlinemart.ca and moneris and they seem very expensive. Anyway please help.

 

I just wrote an article about two weeks ago about options for non-american busiensses. http://www.merchantaccountblog.com/archives/160

It will give you a general idea of the options for credit card processing that you have.

Basically the high fees are something that you really cant avoid.

By "Real-time onsite processing" do you mean at your retail business?

 

Interesting article, but it seems like its more aimed for europe and parts. I agree about the bank though, and i wish i didnt have to go through the bank, thats why i need some Canadian who has an internet merchant account to give me advice. So Canadians please help a fellow Canadian