Guest ChrissieP Posted May 1, 2005 Share Posted May 1, 2005 Nothing serious, just curious as to how i actually get the payment from Visa and Mastercards, etc. How do I get it from when the users submit their card, to my bank account, where does it go? Quote Link to comment Share on other sites More sharing options...
Guest Posted May 1, 2005 Share Posted May 1, 2005 Nothing serious, just curious as to how i actually get the payment from Visa and Mastercards, etc. How do I get it from when the users submit their card, to my bank account, where does it go? you need to have a merchant accout, from there depending on your agreement with them they will deposit it into your bank 2 days later or 1 time a week minus their fees. With a merchant account you have multiple fees; first a setup fee of $99 (other fees may apply too) then there are the monthly gateway($25), monthly statement ($10), per transaction%(2.5%), per transaction set fee($0.35) and others... If you sign up with PayPal (clickable link) (FREE) you basically create a bankaccount witht them and the money in that account you can transfer to your bank (FREE, takes 4-5 days) or if you live in the US you can request an ATM/Visa debitcard and withdrawal the money straight from that account, ofcourse fees apply (basic atm fees). Fees that PayPal (clickable link) charges you are 1.65% per transaction and $0.35 per transaction.... that is it, all and nothing else on top of that! Quote Link to comment Share on other sites More sharing options...
Guest Posted May 4, 2005 Share Posted May 4, 2005 Fees that PayPal charges you are 1.65% per transaction and $0.35 per transaction.... that is it, all and nothing else on top of that! PayPal fees are currently sliding scale, based on how much volume you do: $0.00-$3,000.00 USD ... 2.9% plus $0.30 USD Transaction Fee $3,000.01-$10,000.00 USD ... 2.5% plus $0.30 USD Transaction Fee $10,000.00-$100,000.00 USD ... 2.2% plus $0.30 USD Transaction Fee $100,000.01 USD ... 1.9% plus $0.30 USD Transaction Fee I am unaware of any means of getting the rate below 1.9%. Quote Link to comment Share on other sites More sharing options...
Guest Posted May 4, 2005 Share Posted May 4, 2005 Fees that PayPal charges you are 1.65% per transaction and $0.35 per transaction.... that is it, all and nothing else on top of that! PayPal fees are currently sliding scale, based on how much volume you do: $0.00-$3,000.00 USD ... 2.9% plus $0.30 USD Transaction Fee $3,000.01-$10,000.00 USD ... 2.5% plus $0.30 USD Transaction Fee $10,000.00-$100,000.00 USD ... 2.2% plus $0.30 USD Transaction Fee $100,000.01 USD ... 1.9% plus $0.30 USD Transaction Fee I am unaware of any means of getting the rate below 1.9%. ouch i was under the impression it was only 1.65... hmm need to check up on that :P Quote Link to comment Share on other sites More sharing options...
Guest rjmead Posted September 19, 2005 Share Posted September 19, 2005 does anyone know the cheapest method of performing online transactions ?? Is it still Paypal ??? Does CC 3.0.2 work with Paypal without any problems ?? Rich :innocent: Quote Link to comment Share on other sites More sharing options...
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