Actually, they do cost less, since the bank negotiates with the processing firm for a significantly larger chunk of the business and also excepts all of the credit risk. This processing is part of being a bank, so they really can't mark it up in an uncompetitive fashion. But, as I mentioned in an earlier email, it is very important that merchants cultivate a relationship with a local bank.
Andy -----Original Message----- From: Ben Rogersce > I highly recommend that you find a bank and use the service that they > provide. If you start with the 3rd party, you of course are going to have > an additional level of fees. By level, you mean that it will be broken down more, not that they will necessarily cost less, correct? > Otherwise, your bank should have a workable > solution with the service company that they use. I've only worked with a couple of dozen companies in this respect, but it's been my experience that most banks do not offer payment gateways. Those that do generally have very convoluted solutions that are not very friendly in shared hosting environments. I much prefer the https based payment gateways offered by companies like Authorize.Net. > They will bundle all of > the fees into a single rate that you might be able to shop, depending on > how long your merchant has been in business and the average size of their > transactions. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Logware (www.logware.us): a new and convenient web-based time tracking application. Start tracking and documenting hours spent on a project or with a client with Logware today. Try it for free with a 15 day trial account. http://www.houseoffusion.com/banners/view.cfm?bannerid=67 Message: http://www.houseoffusion.com/lists.cfm/link=i:4:195501 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/4 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:4 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.4 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
