Useful for some? CC Merchant Account

I almost hesitate to post this for the knee jerk accusation that will likely follow accusing me of heritical spamming. Just information I think other locksmiths may find useful. Especially new start-ups, part-timers, etc. This is a service I've used for several weeks now and although I was nervious and sceptical at first, it has worked well for me. I KNOW there are others that need a low volume merchant account. They had me set up the same day I called. I also liked that I could use my own bank. Here's the information. My apologies to those that "moderate" this group. ___________

Accept Credit Cards Right from your Cell Phone

Anywhere - Anytime - No Special Equipment - No Monthly Fees

The Perfect Credit Card Merchant Solution for Small Businesses, Seasonal Merchants & Any Business that Delivers Services or Goods at the Customer's Premises

The personal merchant account for low volume charge requirements. With this plan you can:

Accept credit cards from any phone anytime! Boost your business up to 30% Enhance your credibility with potential customers Get paid fast - money is deposited in your account If you don't use it, you don't pay!

This incredible credit card service features:

No monthly statement fee No dedicated phone lines No equipment charges No batching requirements No transaction fees No long term contract No cancellation fees No renewal fees

98% approval rate Quick activation Real voice customer service 24/7 Works with any phone Funds transferred to your bank account within 24-72 hours 3.95% fee on charges - no other fees Only $99 for your own merchant account

What are you waiting for? Don't lose another job because your customer wants to pay you by credit card. Sign up now!

To get your service activated today, call 800-406-0495

Be sure to mention Special Offer Code 11373. __________________________

Call the number. They're happy to answer any questions.

Mike Thomas Lock & Key For an email list discussion of locksmith related marketing concepts join us:

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Reply to
MThomas859
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3.95% is pretty high but I guess it is alright for someone who doesn't do much charge volume.
Reply to
Putyourspamhere
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Almost 4%? this is about twice what it should be.

Also if there are no other fees, what the heck is the $99 for?

Reply to
Roger Shoaf

The thing that got me past the 3.95% per transaction was that there are no monthly services charges in addition to the 2.75% plus 50 cents per transaction. The $99.00 is set up cost. Maybe higher than most, but the other offsets made it acceptable for me. I put pen and paper to several options and for my usage, this worked. Yes it is for low usage. The benefit to me was no dedicated phone line, no batching, all could be done in the field with no equipment to buy or lease. Good fit for me, maybe not everyone. Just another option in the field of many. FWIW.

Mike Thomas Lock & Key For an email list discussion of locksmith related marketing concepts join us:

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Reply to
MThomas859

Roger - to more fully address your comment, here's what I found while looking and asking questions. Then I'm outta here so as not to offend. More than willing to continue off line with anyone that has any questions. Not every fee applies but they are certainly questions that should be asked in establishing a merchant account.

Here's what I ran into looking for a merchant account. Not every option had every fee and the amounts here generally were worst case. That said....

Setting Up and Account

Application fee: $25-$99 Sign-up fees: Up to $399 Store Inspection Fee: Up to $100 (If no store front - no account!) Dedicated Phone Line / Satellite Dish Transmitter: $40+ per month

Maintaining Account

Monthly Minimum: up to $25 charge Statement Fee: $10 Equipment Lease: $35-$50 with a 4 year commitment and no escape clause. Access Fee: $20 if you use mobile or Internet merchant account Batching fees: Varied Discount rates: 2-5% Transaction fees: $.30 per transaction

Cancellation Fees as much as $150+

Other problems I ran into: Strict acceptance polices. No store front.

All this considered, $99.00 and 3.95%discount rate per transaction looked very good to me. Especially since I am a mobile service with no storefront!

Questions can be emailed to me at snipped-for-privacy@aol.com or better yet, go to the source and call 1-800-406-0495 and tell them its for the merchant account under promo code 11373.

I understand Bank of America also has a fairly good program. The important thing is to do your homework & ask questions to find the option that fits you best. (You in the generic sense. <g>)

Thanks,

.

Mike Thomas Lock & Key For an email list discussion of locksmith related marketing concepts join us:

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Reply to
MThomas859

What is the 2.75% + .50? Is that a comparative example of what another account you looked into charged? If so the .50 is still going to be cheaper on many transactions than paying another 2.2%.

Reply to
Putyourspamhere

You're right. It will be cheaper on many transactions. But if I, as a low transaction user, have an account that charges me 2.75% plus $.50 per transaction and I charge a $35.00 vehicle opening, I'll be charged $1.46 for that transaction (An effective rate of 4.17%). If I'm charged a flat 3.95% I'll be charged only $1.38 for the same transaction. It gets worse if I have to pay a regular monthly minimum fee whether I use it or not.

Again, I'm not disagreeing with you. For me - strictly mobile, low use, no equipment, I'm happy with this arrangement. Another point. Being somewhat "Credit Challanged" because of a period of unemployment and high medical bills, I was able to get this program where my local banker wouldn't talk to me seriously. For some, this might be a viable option also.

Mike Thomas Lock & Key For an email list discussion of locksmith related marketing concepts join us:

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Reply to
MThomas859

Here is a big part of the problem. $35 is a little on the cheap side. $1.38 for the credit card fees, cell phone bill, gas, oil, truck repairs, yellow page advertising, business card and invoice printing, tools, magazine subscriptions, code updates, etc. all of this before you get a paycheck.

Reply to
Roger Shoaf

You've got that right! Unfortunately, that's the local range where I am for vehicle lockouts.

Mike Thomas Lock & Key For an email list discussion of locksmith related marketing concepts join us:

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Reply to
MThomas859

the cheap side.

range where I am for

marketing concepts join us:

unfortunately, same in my area..

Reply to
"Key

$35.00 sounds really low. Not telling you what to do or charge but you will have to work your @$$ off to make money at that rate $50.00 - $75.00 depending where you are would be more reasonable.

I'll be charged $1.46 for

W/o prying into your credit history does that mean that they don't do a credit check? Or that they give a little more leeway in return for the higher rate? If no credit check that would seem to be asking for fraud on thier part, just my opinion.

Reply to
Putyourspamhere

IMHO it is very hard to do them profitably for that. You might want to look into other areas of expertise or simply charge more and offer a more professional more timely service.

Reply to
Putyourspamhere

I'm guessing you don't do many then unless you are dead slow when the call comes. It isn't worth it for $35.00.

Reply to
Putyourspamhere

Standard plug for getting your paws on a good Flat Rate Manual. Very useful tool for understanding your real costs and income, and what prices you have to charge in order to pay yourself a reasonable net wage for your time.

If that calculation shows that a job doesn't yield decent income at the prevailing price, it's either time to charge more and tell folks "I cost more but I'm worth it", or to figure out whether it's really paying its way as loss-leader (giving you a foot in the door to sell other products/services which you can price higher to make up the difference)... or to switch to a more profitable corner of the business.

I know, we all want to be "full service" shops. But sometimes the right way to achieve that is actually to refer the jobs to someone else who is competent but more willing to go broke...

Reply to
Joe Kesselman (yclept Keshlam

slow when the call

yea, depends on who,where and when ? the public here sure is "cheap". I think they all seen that progressive commercial :-) however, things should change when the locksmith license law takes effect the 1st of the year here in Louisiana. (another subject). there should be less under-cutters around.

Reply to
"Key

Manual. Very

and what

reasonable net wage

income at the

folks "I cost

really paying its

other

the

the business.

sometimes the right

someone else who is

bIrIQbej" --

nobody gets hurt."

very good response Joe..

Reply to
"Key

So your license law will effect those doing strictly lockouts? The litmus test here seems to be whether or not you rekey/originate keys (key duplicating is exempted) or bill yourself specically as a locksmith. Auto lockout services are not required by the new law to be licensed here (NC).

Reply to
Putyourspamhere

the (blankey blank) alarm people in my state ALMSOT got a law passed where it was illegal for ANYONE to instann ANY lock, ANYWHERE, unless it was one of 'their guys' the car dealer could NOT fit/replace a lock in a car even, the stupid law was worded so tight... and you could not replace your front door lock (homeowner) without breaking the law. stupid alarm people...

--Shiva--

Reply to
--Shiva--

You mean your states lets morons work on life safety systems? That's certainly stupid even if they are locksmiths.

Reply to
thesatguy

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