Internat Merchant Fees

ardale

Hi, I was just wondering do any of you guys have info handy of what you are being charged for Merchant processing fees on a website you run? Not the Sagepay/ Realex fees but the banks's merchant fees. Lasers and credit cards?
Just so I know where I stand when approaching the bank. Already have a merchant account in brick and mortar, but only found out that I now need a new Internet Merchant account and they charge higher fees.
So, what are ye paying?
I'd really appreciate any feedback?
Cheers Ard

LauraOrlagh

I recently looked into Merchant account vs. Realex or Paypal and the cheapest option for us worked out to be the PayPal account as the Merchant banking fees were quite high and the bank also required us to jump through loads of hoops before the account would become active and we wanted it fast. Paypal business account may be the way to go for you too.. I suppose it would depend on the volume of business you predict will be using the facillity.

aidan.connolly

Hi,

I would not have a lot of transactions, so I use Sagepay.

The Merchant fees are higher per transaction, but it costs me less than Paypal and I can process Laser Cards

I pay approx 2.5% but I dont pay a monthly fee . I pay 50 cent per Laser transaction

Hope this info is of use to you

Aidan

podgeen

Rates for credit cards will typically vary between 1.5% and 2.5% depending on a number of factors including your negotiating skills. Laser cards are normally a flat rate fee usually varying between 15 to 50 cent.

Take a look at my blog post on feepay, they have an agreement which allows them to get a discount for their clients on merchant accounts. 1.5% for credit cards and 15cent for laser.

Lucey Technology have a similar agreement which allows them to get reduced rates for their clients. 1.23% for credit cards. Not sure about their laser rates or if they support laser.

Dave

Herbalist

When considering a payment provider there are three levels of fees you need to factor in as if one of these is high then this can offset one of them being lower.

1. set up fee, some providers charge this, some do not.
2. Monthly / quarterly fee which is charged to you by the payment provider. It is important to ask how many transactions you get included in this monthly fee as this can make a huge difference - its all well and good saving some euro a month on the fee but if no transactions are included you actually end up paying more. Some providers include a number of transactions per month or quarter free included in your monthly fee others will actually charge you a monthly fee and charge you seperately for every single transaction you put through.
3. Bank Fees - this can vary by bank and also by provider. The bank will charge you for setting up a merchant account, a monthly fee and a percentage on the cards.

I am connected to Sage. Sagepay charge €15 a month for MOTO or €25 a month for e commerce. You get 300 transactions included for free per quarter with moto and 1000 included for free with ecommerce meaning there are no transaction charges until you go over this number. There is also no set up fee. If you contact Sage Pay they can offer you specific rates through elavon.