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Forum Moderators: buckworks
"rates as low as 2.2% + $0.30 per transaction."
while I dont know if I want to go with PayPal for this, it got me thinking that i'm not getting the best processing fee rates out there.
Who do you guys use? What's considered a 'great' rate for a mid-sized e-commerce store? I'm lost and dont know where to begin...
I'm not sure if they'll have the lowest rates, but its worth checking into...PNC Bank. They're running a big promotion that they will beat your processing costs or give you $100 if they can't. And if you do sign up they'll give you $300 more.
I joined during a similar promotion and I can't complain...my account was set up fast and if I have a question help is a fast e-mail away (they actually respond).
When I started several years ago I opted for Paypal because I could transfer the money to my bank account immediatly and so I was able to use the cash discounts for immediate payment with my suppliers. This were between 2-5 % of the invoice amount. I also avoided having to use overdraft credits or my credit card.
So if your account is always in overdraft or you can't use cash discounts, or have to go into debt with your credit cards because your credit card processor keeps your money too long it might be worth considering switching to another processor where you pay more but get your money sooner.