Internet Business Information In response to questions from those interested in starting an internet business - some information on online payment solutions, secure gateways, merchant accounts, and more. Beginning E-Commerce FAQ Merchant Account FAQ Non-Merchant Account Solutions Beginning E-Commerce FAQ What is necessary to get started in e-commerce selling my own products/services? What if I already have a business bank account? What if I already have a merchant account? Is there a way for me to sell online without getting a business bank account? I'd like to manually process all my credit card purchases and avoid some of the fees! What about a package hosting, merchant account, cart, and gateway? I have questions about your merchant accounts. 1.What is necessary to get started in e-commerce selling my own products/services? You will generally need three components to sell your products or services online (for non-merchant account solutions, click here.) The three components are: a) a business bank account b) an internet merchant account c) credit card gateway software or service  2.What if I already have a business bank account? If you already have a business bank account, you can move on to getting your internet merchant account. We can help you set up a merchant account for either internet and/or actual physical stores at the lowest possible rates.  3. What if I already have a merchant account? If you already have a merchant account, then all you'll need is a gateway for processing credit cards online.** If you feel your merchant account rates and fees are too high -- contact us to compare rates. We quite likely can save you some money by switching your merchant account to our company. If you do decide to use an existing merchant account, we can help you make a smooth transition to processing online. All you will need is a processing machine (for offline) or a gateway -- both of which we can get for you at great savings! **Avoid expensive gateway software from your bank. Compare first. You will save hundreds of dollars by getting either a PayPal or SecurePay Processing Gateway with us.   4. Is there a way for me to sell online without getting a business bank account? Yes, but with some qualifications, and remember your per use charges are higher for these options. Online payment systems are perfect for the following situations: a) you are just selling stuff on e-bay - paypal is a built-in payment solution. b) you are a small part-time business and don't expect to sell very many items at first c) You are selling non-tangible goods like mp3s or e-books. *Take a look at "Non Merchant Account Solutions" for details on some of these systems. 5. I'd like to manually process all my credit card purchases and avoid some of the fees! Yes, you can do that! But... Consider how much your time is worth and how much money you will save by processing yourself. With the basic securepay or PayPal gateway, for example, you would only save the $19.95 - 25.95 monthly fee. For many netreprenuers, processing automation saves valuable hours per month, (hours that could be better spent promoting your site by blogging, running a forum, and exchanging links, for example) and is well worth the small monthly fee. 6. What about a package hosting, merchant account, cart, and gateway? These all in one packages have their advantages, especially for the "newbie". You don't have to evaluate various componants as the company has already packaged the system. The downside is you end up paying higher fees, and you're usually not free to make changes. What if your business goals change? What happens if you want to switch hosting plans, shopping carts, or secure gateways? Are there required enrollment periods in which you must keep using the package? Read the fine print before you sign up. We offer all these services together yet in an "ala carte" situation, and they certainly work well for most of our clients. You are always free to upgrade or downgrade your hosting, switch gateways, and even change shopping carts if you so desire without losing your other components. 7. I have questions about your merchant accounts. If you'd like to apply for a merchant account with us, download our short application with easy instructions. Do you have general questions about merchant accounts? Read on... Merchant Account FAQ Help! The internet seems like a used car lot when I shop for merchant accounts, with every site claiming the lowest rates. How do I know who's honest? What about Monthly Fees? What about huge mystery fees? I've seen long difficult applications and hard to satisfy qualifications... My friend pays $50-100 a month even if she makes just a few sales - and hates her merchant account! I was turned down for a merchant account because I claimed bankruptcy and haven't re-established credit. What can I do? 1. Help! The internet seems like a used car lot when I shop for merchant accounts, with every site claiming the lowest rates. How do I know who's honest? It sucks doesn't it? The internet can be somewhat like the wild west, and merchant account advertising can be quite deceitful. The low rates often quoted can mask high monthly fees, minimum charges and a host of other "surprises". In addition, don't be fooled by ads that say, "no application fee". Companies have to pay people to process applications, and it can be time consuming. So if they don't charge an application fee, they will often have other hidden charges that are even higher than an application fee. Worse, they may tack on hidden monthly charges that will total much higher than an honest application fee. The first thing you should know is that rates are lower for a physical store than for an internet business. Therefore, low rates quoted in ad copy may not apply to your internet business. This is a common advertising ploy and could certainly be viewed as a form of "bait and switch" - do you want to sign up with a company that's dishonest from the beginning? Ask your friends for recommendations about merchant accounts and agents, or, look for a site that provides usable information and contact them, rather than jumping in with one of the many hucksters out there. 2. What about Monthly Fees? With all merchant accounts, there are monthly fees on your credit card transactions through your merchant account PLUS a statement fee, and fees for your gateway. Sales agents will often neglect to let you know about these fees, and they vary depending upon your particular situation, so quoting exact fees can be difficult until we know more about what type of account you qualify for, but below are general figures. Depending upon several factors, internet merchant accounts fees will be around 2.25 - 2.30%,with a transaction fee of 30-40 cents each, plus a statement fee of 10.00 monthly. Gateway fees vary depending upon your choice of gateway and features, but start at 19.95 monthly. You must add these together to know your total fees. If you are interested in signing up with our merchant account services, please download the short application and instructions, here. By the way, if you find a lower actual fee, let us know and we'll attempt to match it! 3. What about huge mystery fees? Some merchant accounts charge you all kinds of undisclosed extra fees - many sales people are --shall we say--"less than forthcoming" about fees and costs, and in all honesty, until they know more about your situation, exact fee quotes are not possible. For example, rates for purchases made from outside your home countryare usually higher than your normal quoted rate, and your specific rate may be a bit higher if you have lower credit. Once we know more about your specific situation, we'll outline our low fees for you, and gladly explain all of your questions before we submit your application. We offer the lowest fees you'll find anywhere, plus personalized help for every aspect of your processing needs. No shocking surprises!! 4. I've seen long difficult applications and hard to satisfy qualifications... Our application is pretty short and simple, with acceptance rates of 98%. We'll help you as much or as little as you'd like! As a portal for the creative/alternative/conscious community, we understand that you need flexible and quality business relationships, and it's our pleasure to help you be successful. Questions? . 5. My friend pays $50-100 a month even if she makes just a few sales - and hates her merchant account! We hear that a lot; it's easy to get roped in to an account that has hidden minium charges. Let the buyer beware! If they're quoting you a rate too low to believe, ask about minimums, billing statement fees, and cancellation fees. We can help. 6. I was turned down for a merchant account because I claimed bankruptcy and haven't re-established credit. What can I do?   You'll need to re-establish credit for 3-6 months before applying for a merchant account. To do this, obtain a credit card and make timely payments for a few months. Not all credit cards are equal however! These types of credit cards do have a yearly fee, and some credit cards charge huge hidden fees for people in this situation. I recommend this MasterCard as the first step to establishing or re-establishing your credit. They are very reasonable and they will report the positive addition to your credit report quickly. Get their credit card, use it minimally, and pay on time, and you'll almost certainly be accepted when you re-apply for your merchant account. While you wait, you can start selling using Paypal. If you have questions, with your situation details before applying. We will be happy to advise you on the best way to proceed. I Non Merchant Account Solutions PayPal Payment System Very popular all over the web, Paypal is well established and has brand name recognition that people trust, which is good business for you. They have continued to improve over the years and customer payments are easy, especially for ebayers, since it's integrated right with e-bay. There are limits on amount of payments you can receive with a personal account, so most businesses opt for a business or premiere account. The great news is: Nearly every shopping cart can offer visitors the option of using paypal easily! Probably around 10% of my sales at enchantedcrystals.com are completed with paypal. :-) If you aren't ready to obtain a merchant account, you can start selling via Paypal right away. Paypal also recently purchased Verisign payment gateways for use with merchant accounts, making them the biggest player in online purchasing services. We offer these gateways here. ClickBank ClickBank is an excellent payment service and quite popular, but is only for digital products and services delivered over the Internet. If you're selling information products like music, e-books or private access membership sites, this could be an excellent option for you. Many affiliate systems pay via clickbank, so it's in your best interest to open an account if you expect to promote affiliate products on your website. Any tangible products mailed or shipped cannot use this system.   © StarTunz Productions, all rights reserved.