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]

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

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:

<{POST_SNAPBACK}>

 

Its quite normal in the UK from my experience, not sure where abouts you are, but the mention of a fish and chip shop makes me think you might be in the UK.

 

Paypal, Nochex, 2checkout and quite a few more will see you through the first 6 months quite easily.

[Cowzor]

Its quite normal in the UK from my experience, not sure where abouts you are, but the mention of a fish and chip shop makes me think you might be in the UK.

 

Paypal, Nochex, 2checkout and quite a few more will see you through the first 6 months quite easily.

<{POST_SNAPBACK}>

 

 

I'm in New Zealand

 

I could use Paypal, except that it doesn't charge in NZD dollars, which makes it hard to keep a steady price for New Zealand customers, because if it charged in USD or GBP ofcourse the price would change, making things difficult for me

 

If I'd known a 6 month wait was normal I'd have applied 6 months ago :(

[cbcnz]

hey Cowzor,

I'm from New Zealand too, and run www.cbcnz.com we got a merchant account 6 months ago with ASB and it has been great, my sugestion it to go try other banks (national and bnz) is I have just faced a similar problem getting a business credit card for a new company I'm part of, ASB would not touch it buy National had no problem at all.

[Cowzor]

Ah okay, I'll shop around. Kiwibank turned me down for a creditcard 3 times, but ASB couldn't approve my application fast enough. Anyway I'll give them a go