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Issues with my merchant account AGAIN!

by QwnV
4 replies
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My merchant account that I tried forever to obtain is charging me high fees. By my mistake I read the contract wrong and now am being charged these fees that I cant afford. So instead of being able to focus on marketing my website so that I can actually start making money I am stressed out due to trying to see how I will pay the fees.

I am also in a bind now because a rep that I was working with to help get the account told me when I asked about term policy said I would be ok ending the contract if need be with a 30 day notice. But the bank is saying no, the only way to term is paying up to $600. So I most likely cannot lower the fees and cannot cancel without a huge payment. And just today I have my first possible order (which should be a exciting moment) that I can't go through with processing because of this mess.
ETA: I have only had the account for a month

Im screwed and very discouraged at this point.
#account #issues #merchant
  • Profile picture of the author velvet
    Hi QwnV,

    I am sorry to hear of your pain.

    I don't know your particular requirements, but I think you should at least go and look at Zaxaa.com.

    They are an awesome service, although their prices have just gone up as we speak, there are no transaction fees, just monthly or annualy.
    .
    There is a free service that includes a 3% per sale fee.

    30 day money back gaurantee, cancel anytime etc.

    There is a Pre-Sale tab at the bottom of the page to ask any questions you may have.

    cheers, Mal.
    Signature

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  • Profile picture of the author jtr8178
    If its a merchant account for credit card processing, just don't use it... that way you aren't charged any fee's. Find another one that is reasonable. I know there are better solutions, but I just use PayPal for all my credit card processing.
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  • Profile picture of the author QwnV
    Hey! Sorry its been long for a response. Good news the bank lowered my fees!! very relieved,
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  • Profile picture of the author creztor
    The fees are killing your business? No offense, but your business model doesn't seem that good if the merchant fees have destroyed or make your business impossible to carry out. Me? I'd pay the $600 and get out. Is that the CHEAPEST way to get out? Or would you be better off staying for however long the bank requires and just losing money every month?
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