Opening a Merchant account with a Bank

[Cowzor]

I got in contact with my bank to open a merchant account so I can accept CC's on my e-commerce site, and got this email back from them

 

With regards to your enquiry regarding the above please note that ****

requires customers to have a Business Account with us for a period of 6

months prior to being able to apply for facilities.

 

Thank you for your interest in **** Merchant Services, and while we regret we

were not able to assist on this occasion, we wish you and your business

venture success for the future.

 

 

This sounds like a load of rubbish to me. I'm sure most businesses would go under if they had to wait 6 months before being able to apply for Merchant Serives (EFTPOS, CC's, etc). There's only one business I know of that doesn't have an EFTPOS terminal, and it's a fish&chip shop

 

 

Anyone had any similar experiences or advice? It's tempting right now to ring them up and tell them what I think of their policy, but I can't imagien that's going to be productive. :angry:

[Guest]

1) Go open a Merchant Account somewhere else. While you're there, check to see if they have good personal banking services as well (why not?).

2) Go back to your bank, tell them that because of their policy, you've opened your account elsewhere. Depending on the quality of the bank staff, they will a) explain their policy; B) try to get the policy changed; c) not care.

 

-jared