HI,

Does anyone know what 's monthly minimum is? This is a very important fee that is not listed on their site.


Thanks
LaTesha

Krazy,

$25 is the monthly minimum. I sent you a pm with the information.

Troy

Hey Troy,

You are my new best Friend!

I really appreciate the email. Are you set up with now? If so, how are they?

Krazy,

This is payback for all of the help you have provided in the forums and in PM's.

I am setup with merchant now. Everything is going good. I got my first order through them on Monday and I am waiting on payment to my bank. I chatted with them today and they said I should have my money by Monday because of the holiday. If I don't have my money then I will start getting upset.

Troy

Hi,


What is their desposit time? Like 48 hours? I think I am going to sign up with them. I am going to crush the monthly min, so the most I should be charge in a month is $50.00 + transaction fees. I hope the do not have all these other taxes and handling fees , etc..lol

KrazyKicks,

The Merchant Account with Visa and MasterCard has a deposit time of between 24-48 hours, they do batches every evening. Since the banks are closed for Holidays then it would take longer for the money to be deposited into your account. Now, American Express and Discover, due to their own policies can/will take longer for the money to be deposited into your account. This is especially true with Discover who will hold money longer than anyone else. Now also you may want to check with your bank as well if only to let them know that their will be transactions occurring of this type. Sometimes your Bank will put a hold on money from an "unknown" source, especially if it is the first time you have had a Merchant Account. I would recommend always checking with your bank first and letting them know that transactions from the Merchant Account will be coming through.

Hope this helps!

EComGal

Discover has been known for doing this, and still does it.

It depends on a few things... I only know of two of them.

1. What state you reside in and do you have a local Discover Card Processing Facility? If you do and have someone like WellsFargo or Compass Bank the deposits are usually available in 24-48 hours. Others have been known to take up to 30 days! (Not Kidding on This!)

2. The second one is mentioned above. The Bank you deal with can also slow down the deposit time.

30 days!

Wow....

Hypothetically, if you have $0 (zero) sales one month, how much in fees would Merchant account charge for that month (including gateway & merchant account fees, monthly minimums, etc.)?

DJ

With no sales I think it would probably be $50+ other appicable fees I do not know about.

This would be a good question for Julie.

DJ

I had Merchant Account, I have switched since then...the fees were killing me up front. I use the Quickbooks Merchant account, a lot easier to swallow.

You will spend $ 68.00 a month! (this is if you have no sales)

This is with the gateway fees!

WOW....I do not know how to get the other 18.00. Thanks for the info.

Sorry meant to punch $ 63.00 not $ 68.00. See Below!


Here is right off the statement...

ACH Fee: $ 3.00
Statement Fee: $ 10.00
Minimum Monthly: $ 25.00
Gateway Fee (Authorize.net): $ 25.00

Total: $ 63.00

CB Hale,


That is interesting, because according to the price guide on monstermerchant it says:

15.00 Gatway and 10.00 Statement Fee. Did they change it?

Charles,

Through our Merchant Account Services we get a discounted rate $15/month for the gateway fee, if for some reason you were charged by Authorize.net for more than this amount you should contact our Merchant Account Reps ASAP and they will reverse the difference.

The fee's are:

Authorize.net Gateway Fee - $15/month
Bank Statement Fee - $10/month
Monthly Minimum - $25/month

If you have any further questions please feel free to contact our Merchant Account Services:

Phone: (800) 838-9699
Email: merchantinfo@monstercommerce.com

Thanks,

Toni

Toni,

I have been getting charged $25.00 also since June. I just emailed merchantinfo@monstercommerce.com to clear that up, but I'm glad this discussion came up (thanks Krazy!) because frankly, all of these charges had my head spinning. It took me forever to figure out the Merchant statement from Best Payment Solutions.

Anyway, FYI for others (and I don't know if this is what's supposed to happen) I am currently getting billed for the gateway through Authorize.Net: $25.00 per month + 10 cents per transaction - up to $25.00 for up to 250 free transactions.

Other than the $10 overcharge for the monthly fee, is this right?

When I spoke to a Lisa on the phone she said that the gateway fee should be $15.00 and no additional charges for the gateway from authorize.net.

If I find out information I will let you know. has great rates, it just seems with any merchant account they can make you go coo coo. I say the best way to go is with a no obligation gateway unless you know first hand about customer support , etc. However, no obligation accounts are like grandma's teeth far and few between...

Also Kitty, Is that just for the gateway or are you being charge a $10.00 statement fee additional for a total of $35.00 a month?

MCToni,


I was charged the $ 25.00 every month for over a year!

I have since moved to another provider. Will I still be able to get a credit?

And If yes, how do I get it?

I was very frustrated with the customer service that I received from Julie and that was another reason I left.

OK, comparing what I'm seeing on my statement with the information on 's website, these are the differences:

MERCHANT ACCOUNT:

Discount Rate: 2.39% Accurate
Transaction Fee: .32 Looks like I'm charged .30
Monthly Fee: none Accurate
Statement Fee: $10.00 Accurate
Batch Fee:.20 I don't see this
Virtual Terminal: INCLUDED
Monthly Min: *25.00
Time Delay: 3-4 days Accurate, sometimes sooner
Gateway Fee: 15.00 through Authorize.net (compatible with ) See other post
Set-up Fee: 0.00
Application Fee: 0.00
AVS Fee: 1.5% Looks like I'm paying .05 per transaction which is cheaper than 1.5% Per Transaction Fee: NO
Charge back Fee: $25.00 Never used
American Express discount Rate: do not have info yet
American Express Transaction Fee: do not have info yet
Discover Discount Rate: do not have info yet
Discover Transaction Fee: do not have info yet
Additional Non-qualified Rate: additional 1.50% added to regular rate I'm paying 1.6% Additional Mid-qualified Rate: additional 1.25% added to regular rate
ACH Rejection Fee: $25.00 Never used
Annual Fee: 0.00
Retrieval Request Fee: $10.00 Never used
Issue a refund: NONE Accurate
Cancellation Fee: 1 year $195.00 to cancel

* Monthly minimum is the amount that your transaction fees must add up to. For example if you process 10 $45.00 orders at 2.39% and .32 per transaction then you have processed only $13.96 in transaction charge which does not meet the monthly min. They then add the money to meet the minimum of $25.00

That said, remember, it's taking me awhile to figure this all out. This wasn't my strong area when I started this business up, so I relied heavily on for help with this.

All those above fees or any fees I have posted have been from their site and also I have called each merchant and went down the list. None of these were made up. ***I am saying this just in case**** Because I did get these from authorized people at each Merchant Support Via phone.

May be overcharged, but merchant accounts are very trickey, so some things you are getting overcharged for may not be , make sure you check that contract. They will tell you one thing and write different on that contract. These posts are served as a purpose to make consumers more educated, because so many get burned. We have already had a very very bad experience so I wish for no one else to. Only way to help avoid is to educate and share information.

I just looked at my bill and you are all right... I have been paying $25 for Authorize.net for the whole year as well

Looking at your statements looks like I am getting ripped off somewhere cause i am also charged $7.50 Merchant Manager Fee every month??? Is anyone else getting this charge?

I complained about this fee because I was not told about it and they took it off for me!!

here is an example of mine:

Gateway fee $25.00
MC (# of transactions x $0.10)
VISA (# of transactions x $0.10)
ACH FEE $3.00
Batch Fees (# of transactions x $0.20)
MERCHANT MANAGER FEE $7.50
MC trans @ $0.32
VISA trans @ $0.32
STATEMENT $10.00
Monthly fee Minimum $25.00

Whats up with all these fees??? Looks like im calling tomorrow.

Debi, How did you get 250 credit? Is that per month?

I get 2 bills as well..One from BanKCARD and one from Authorize.net. I am definitly calling tomorrow to fix this issue.

Oren, in your statement, what are the following charges for:

MC (# of transactions x $0.10)
VISA (# of transactions x $0.10)


DJ

Man with all the differences that I am seeing....looks like they are trying to get you for fees when you are not looking. Trying to get that extra money out of you that you are not aware of.

If nothing else maybe this will help to get everyone on the same page, and these card companies will stop ripping off customers.

You might want to look into Paymentech's Orbital merchant account. I've had good luck with it and I understand it's gateway is now compatable with V.4.0. It's only 25.00 a month (no mins) and they drop the cash in your bank in 5-6 days (first year only - then it's same/next day).

Dj,

What that means is that for every transaction you have you pay $0.10 + $0.32 + all the other fees.

All these extras were not discussed and I am very disappointed that I have paid all those fees for absolutely no reason at all.


$7.50 manager fee x 12 months = $90
I paid $25 a month instead of $15 so: $10 extra for authorize.net x 12 months = $120

That $210 for nothing.

Oren, have you called Julie? Call her. She'll take care of it.

And, authorize.net will charge 10cent / transaction.
That is... 10 cents for every authorization attempt, right?

So, if someone (say the nigerian or indonesian rings) decides to try some card numbers, that then you get charged 10cents for every attempt for them to find an active card, right?