I have just got off the phone to Streamline. We want to move from the high transaction charges that Bureau banks have and move to utilising a internet merchant account and PSP.
However, we currently have a merchant account for our physical outlet which as a chip and pin terminal. This is a low use terminal so the rent and transaction charges are high (will be 19.95 month and approx 2.8% per credit card) Then we have been quoted a further 100 set up fee for the internet merchant account (streamline epayments) with transaction charges of 3% for credit cards. Then they quoted 1% on top of this for the worldpay PSP charge. (can't remember debit charges)
This to me doesnt sound too bad but why should we have to pay for two merchant accounts? Is there anyone here who uses streamline or perhaps another aquiring bank that has one cost for Chip and Pin, CNP and internet payments in one merchant account. I mean Natwest, Streamline and Worldpay are the same company so why create themselves more work by forcing people to have 3 accounts. Also do you think it may be worth bartering with streamline to reduce fees - has anyone had any success?
And lastly can any one tell me when AMEX will allow streamline to take payments online (the girl on the phone didn't know and couldn't tell me why not) We get a few people using Amex in our shop through the C and P but the cards can't be used online
Thank you in advance for any pointers.
However, we currently have a merchant account for our physical outlet which as a chip and pin terminal. This is a low use terminal so the rent and transaction charges are high (will be 19.95 month and approx 2.8% per credit card) Then we have been quoted a further 100 set up fee for the internet merchant account (streamline epayments) with transaction charges of 3% for credit cards. Then they quoted 1% on top of this for the worldpay PSP charge. (can't remember debit charges)
This to me doesnt sound too bad but why should we have to pay for two merchant accounts? Is there anyone here who uses streamline or perhaps another aquiring bank that has one cost for Chip and Pin, CNP and internet payments in one merchant account. I mean Natwest, Streamline and Worldpay are the same company so why create themselves more work by forcing people to have 3 accounts. Also do you think it may be worth bartering with streamline to reduce fees - has anyone had any success?
And lastly can any one tell me when AMEX will allow streamline to take payments online (the girl on the phone didn't know and couldn't tell me why not) We get a few people using Amex in our shop through the C and P but the cards can't be used online
Thank you in advance for any pointers.
Comment