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    CardNet revolving payment plan

    In the process of setting up a new internet based business, CardNet need security of £7,500 either in one lump or as they suggested a revolving payment plan - they take 50% of the value of each of my online transactions and this remains held in an account with them til it reaches £7,500. When this happens I will get the full amount (minus charges) of each transaction, they hold this for a year as security in case my business fails and customers need refunds.
    Does anyone have any experience of this? Comments would be gratefully received!

    #2
    Doesn't sound like a good deal to me. Does it to you?

    Why not think about the PayPal or WorldPay routes if this is your first foray into online selling.
    Reusable Snore Earplugs : Sample Earplugs - Wax Earplugs - Women's Earplugs - Children's Earplugs - Music Earplugs - Sleep Masks

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      #3
      WorldPay are doing the same thing but are holding all monies until the threshold reached so not better off with them.

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        #4
        Really? When did WorldPay start doing that? Perhaps they're trying to recoup the losses run up by Sir Fred.
        Reusable Snore Earplugs : Sample Earplugs - Wax Earplugs - Women's Earplugs - Children's Earplugs - Music Earplugs - Sleep Masks

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          #5
          If you have a decent credit history then try talking to the manager at your bank. They should be able to offer you a better deal on a proper merchant account.

          With fraud on the rise I'm not that surprised the 'no fuss' payment people are taking a stricter line on credit control.

          Mike
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          First Tackle - Fly Fishing and Game Angling

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