Paypal ([ic] wells fargo epay)

[Jim Balcom]

On Sat, 12 Jan 2002, Scott Carter wrote:

SC>>Wells Fargo Epay is something close to it also.  Being a new internet
SC>>merchant the credit institutions have not been very friendly for the fees.
SC>>Bank of America wanted a $50,000 retainer.  CardService International has
SC>>more fees than you can imagine (plus fees if you don't make the minimum) and
SC>>is very difficult to quit.  I had to have my bank stop the ACH calls to my
SC>>account to get them to return my phone call.  Avoid CardService
SC>>International at all costs.  Wells Fargo charges me $49.95 per month plus
SC>>2.65% for visa, m/c and discover and 3.55% for amex but no other fees.  I
SC>>also have a business account with paypal and ebay but don't use them that
SC>>often.  Setting up a merchant account is far more difficult than setting up
SC>>Redhat Linux, Apache, Sendmail and Interchange combined...

They are very wary of any business that takes the card, but the card is not
actually present. It's too easy to sell 'vaporware', collect the money from
the customers charge cards, get the money out of the bank, and then flee.

After you have the account for a while (like a year) and it's been properly
handled (no disputes, no chargebacks) you should be able to get them to
re-evaluate your rates and get them lower.

Your Amexco rate has nothing to do with Wells Fargo, in fact, you are
getting a better rate than AMEXCO normally gives. My rate with AMEXCO is
twice my rates on my other cards.


-= Jim =-

----------------------------------------------------------------
Jim's Linux-Operated Underground Bomb Shelter

Tagline for Saturday, January 12, 2002 at 11:50 AM:
"Apple" (c) Copyright 1767, Sir Isaac Newton.

----------------------------------------------------------------
This Linux System has been up 278 hours

My web page: http://www.idk-enterprises.com
----------------------------------------------------------------