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Forum Moderators: buckworks
Advantages: I have no fees for anything, just a straight discount rate based on average ticket for each website. The rates are excellent, the best I've ever had. The higher the average ticket, the better the rate, but even on low average sites I've no complaints.
Long relationship, checking accounts, savings accounts, CDs, business CC, et cetera make me a prime customer even though I am a long, long way from being a big dollar player.
In fact, with this bank, running one account through multiple websites is a MAJOR violation. Each website must pass their scans and inspections (no charge to me) and no problem to pass, because I already know all of the requirements and build them into new sites. Each website MUST have its own merchant account. No problem for me. I already have each website setup as a separate company in QB to separate customers, inventory.....and my accountant just dumps it all into one hopper for pass-through tax purposes. Although I treat each website as its own enterprise, and even though the bank treats each website as its own enterprise - the bank still recognizes the LLC as THE company and cash flows in and out of those accounts.
My accountant dumps most everything into the hopper because my LLC is one company to him. The separate websites have minimal effect on pass-through taxes. It is one company to him. How I choose to 'sub-divide' does not much affect what he does right now. We may be making too much money to remain an LLC and need to incorporate, but that doesn't affect the question at hand and should not be a problem when we make that move. Just hassle that I will delegate.
The 'separate' accounts also show up on the customers' statements with the correct website name, so no confusion over charges that people forget about. The source of the charge is obvious.