What's a typical merchant reserve amount?

Discussion in 'Payments processing' started by runchman, Feb 5, 2010.

  1. runchman

    runchman aMember Pro Customer

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    I've been going thru the approval process with RBSWorldpay, and thought I was just about finally finished. Then I get an email that they've determined my reserve amount (amount they hold before transferring any cash to me) is a little over $8k.

    I'm starting my site with just a $49.95 fee for a year membership, to try to get interest. Just getting started and having not made a single buck yet, $8k could be a long ways off.

    So I'm cancelling and going back to Paypal to get going.

    Is this large a reserve typical? Seems a bit excessive to me, just curious what others have seen.

    - John
  2. jackgordon

    jackgordon aMember Pro Customer

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    My merchant provider (USAePay) did not require any reserve. If you want contact info, let me know.
  3. runchman

    runchman aMember Pro Customer

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    Hi Jack,

    I know this is a late response, but a couple questions:
    1. Does USAePay work with one of the amember plugins?
    2. Does it support recurring billing w/ cc #s on their site?
    3. What's the ballpark monthly fee?

    Thanks for any info,

    John
  4. jackgordon

    jackgordon aMember Pro Customer

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    Hi John,

    1) USAePay works with the Authorize.net aMember plugin. They will provide you with an Authorize emulator, and help you set it up.

    2) I am not sure if you can set it up for aMember to process cards on their site. Each (aMember and USAePay) has the ability to store cards and process recurring payments independently. Of course, aMember submits the payment, but you know what I mean.

    3) Ballpark monthly fees... let's see. Credit cards are a relatively small part of my business, but on about $2610 in charges last month, I paid about $81 in total fees. About $45 of that was based on transactions, and the remainder were static fees.
  5. runchman

    runchman aMember Pro Customer

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    Jack,

    Thanks much for the info and the prompt response,

    John

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