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Thread: Money hold

  1. #1
    Marcus67 Guest

    Default Money hold

    Will a merchant account hold my money like paypal does? and what to I need in addition to my merchant account to be able to accept payments online?

  2. #2
    Unregistered Guest

    Default

    No merchant account don't just hold your money like paypal does, they are regulated unlike paypal and can't do things that paypal gets away with.
    If you are going to sign up with a company to accept online payments be sure they provide everything you need; merchant account, payment gateway and a shopping cart can be good to have too but not necessary.

  3. #3
    Unregistered Guest

    Default

    You would need a bank account. With merchant accounts there is no middle account where your money is being held and that you have to transfer your money from to access it. All money will be deposited directly in to your bank account.

  4. #4
    Marcus 67 Guest

    Default

    Quote Originally Posted by Unregistered View Post
    You would need a bank account. With merchant accounts there is no middle account where your money is being held and that you have to transfer your money from to access it. All money will be deposited directly in to your bank account.
    Does it have to be a certain bank account or will any work, I have a personal savings and checking account but no business bank accounts?

  5. #5
    kris Guest

    Default

    Where I signed up for my merchant account I had to provide a checking account I was told they did not accept savings or pre paid checking accounts but it didn't matter if it was a personal or biz checking acc.

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