Posted: 8/24/2007 5:02:04 PM EDT
| A friend of mine is opening a business. What's the cheapest way to do this? Rent or buy the machines? Who has the cheapest processing fees? |
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I don't directly handle customers' cards in my business. I mostly wholesale to retailers. I have a service where I don't even need a terminal that I can't use. I enter all the info using the keypad of my telephone. As your bank about Retriever Services. I am sure there are others. |
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Be extremely careful with whom you link up to process your cards. There are many big time crooks out there, many based in Nevada. They can be very slow to put the money in your account, and you'll be virtually powerless to unhook from them. Caveat Emptor. I suggest staying with known banks. |
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After going through many processors, I finally found one I like www.merchantservices.com/ And will never switch again. Be very, very careful when looking at processors. Some offer lower percentages, but will hit you with plety fo extar fees, like $2 a page for your monthly statement (had one do that), hold your money for up to a week, set low limits on how much you can run through, etc. Be very, very careful when you choose. |