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Let's compare credit card processing costs, the time and effort. We broke down the credit card processing scenarios into 3 categories below. Take a minute and compare, you'll be glad you did! If you were to sell a $50 item, here's how much you'll make:
Merchant Account Needed
1. Need To Apply - $25-$200 (No guarantee, No refund) 2. If accepted, merchant account would cost anywhere from $300 to $5,000 + 4. Continuous monthly costs: (Gateway Fees, Discount Rate Charges for Every Order, monthly merchant payment, Minimum Holdback Fees, misc. fees.) 5. 1-4 Year Commitment/Contract 6. Time it takes to receive payment: 24-72 hrs.
Total Take Home From A $50 Item: $24-$41
No Merchant Account Needed
1. Apply - FREE to about $50 2. Most of the time accepted! 3. FEES - Usually 10-15% of order, wiring/direct deposit fees, misc. service charges, and minimum holdback fee, which you get back after 6 months. 4. Time it takes to receive payment: Once a week, or twice a month.
Total Take Home From A $50 Item: $31-$40
No Merchant Account Needed
1. Account Is Free To Open 2. Everybody Accepted 3. Rate charge of 1-2% 4. Time it takes to receive payment: 1-4 Days
Total Take Home From A $50 Item: $47-49
| H.I.R. Investments. All rights reserved. P.O. Box 852, Hampton NH 03843 USA |
