Looking for PSP recommendations

[chris ashdown]

I just wondered if there is a reason why Worldpay is so expensive in its setup and monthly costs, compared with other providers - these apply whether you have an existing merchant account or not ??(we would use the existing merchant account with HSBC)
The costs are £200 setup and £30 monthly (6 months to pay up front = £180)
Total starting cost = £380.

You will find quite high charges for both yoiur merchant account and say protx charges, but the real difference is the amount Worldpay charges as a percentage of the sale whereas the others charge a fixed rate. Also worldpay holds back the money for a few weeks when you start up.
I would always suggest a new company to start with Worldpay for the first year (unless they already have a merchant account which can be hard to get for a startup) and then move over to someone like protx

[calmncomfy]

I Use Secure Hosting with ePDQ. I managed to negotiate a % transaction fee fee reduction with ePDQ by being a member of the National Market Traders Federation (cost of NMTA was about £100pa - more than offset by the van insurance reduction ).
By already having a merchant number with ePDQ I was able to use secure hosting for a flat fee of £85 plus VAT and no further transaction fees (other than what I pay ePDQ). I am not sure whether you needed a Barclays Account to get the best ePDQ rates, but Barclays gave me 18 months free banking.
ePDQ has been down more often than I would Like, so I also use Pay Pal card transactions as a back up (no set up fees). Secure Hosting have not yet let me down once. You have to wait 30 days to get your hands on ePDQ transaction money though Mind you I think Worldpay wanted me to wait 45 days when I enquired!
Hope this helps & good luck with your decision.