euroconex/website payments

M

mellmarian

Guest
Hi,
First post here. I have a website running for over a year now and i have been using paypal for payments. I wanted to get away from this as somme customers didnt like it so I went to euroconex so that i would be able to put in a proper cc payment system. Filled in all the forms etc but they have just told me they require a 20k deposit or keep the first 20k of payments until the see me as trustworthy as any of my customers only pay for the service once a year so there is a 12 month time lag between payments. euroconex see this as a problem in case i go bellyup and customers want a refund.
Can anyone tell me if there are are any other options for me as i cant tie up the first 20k of payments which i have planned to use for markerting
Thanks
 
looking at realex they require you to have a merchant bank and as im BOI customer Euroconex are their merchant bank so im back to square one.
Thanks
Marian
 
mellmarian said:
looking at realex they require you to have a merchant bank and as im BOI customer Euroconex are their merchant bank so im back to square one.
Thanks
Marian
Click to expand...

Err no.

Realex and BOI work together just fine.

I'd recommend you ring Realex and talk to them about it.
 
I have had the same problem, I have been trading with a shop for 2 years using euroconnex as the merchant and decided to start trading online. I have put in a massive amount of work into the site and first applied for a merchant account in feb 2007. In june they got back to me saying that they have re branded and I had to fill out the same forms with different logos on the top and provide more household bills ect so again I did in July. I have been really hassling them over the last few weeks to get it sorted. I was supposed to be going live next week and after 2 emails this week that I got no responce to I rang today to be told that the application was refused!! They wouldn't even give me a reason why, they just said the business model doesn't suit them!! (I sell fitness and gym equipment??)

They have wasted my time and my bank manager has said to me he has had terrible trouble with them over the past few months since BOI themselves sold the company. It looks like I will be moving banks and I would advise to stay well clear.
 
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