If your in the US, I be happy to talk payments

We own a small CBD lab worth of crude to distillation and isolation processing equipment. We are selling our CBD processing equipment because we don’t have space to operate. We do not have the money to pay someone to run our equipment. We are selling our equipment through a reliable local third party on eBay we already have done business with. The downside being we have no idea when we can expect to receive payments. The upside is we will get the most back for our used equipment which is approximately 10,000$

We closed our small laboratory in Brattleboro Vermont because of lack of interest in buying online and rent being too expensive. We ended the contract with the farm for growing because the price of hemp dropped so drastically we could not compete with 1000 acre mega producers.

Hi, I’m your neighbor in the next town over :)

I would concur here, it seems like your niche in the market has not evolved with the changing market. Plus i am sure VT making more strides to make Cannabis legal has hit the cliental as well. Your partners and yourself needs to seriously pause and sit down to look at the business plan, and if need be come up with a new one if you intend for this to continue.

You will need to examine the market shifts and plan for how your going to be “special” and compete. Online sales are a dime a dozen now for sure, and CBd can often be bought everywheres now. You can even look at other CBD variants like Kratom or Delta-8 if you do not offer them. Those are sometimes higher demand for smoke shops but they are not without risk.

On a side note, interesting that you went down to Brattleboro, It’s the other the other side of the state. I need Grad school down there and not much is offered in that neck of the woods for sure.

That card has a personal guarantee. So only way out is a personal bankruptcy

2 for $5.50 for Pepsi now in vt

have you not been giving raises all those years?

If your in the US I should be able to get adult content approved.

If your in the US I should be able to get adult content approved.

Payment professional for over 15 years here.

The problem comes it with credit cards and debit cards. The card networks have a very strong chargeback program in place, and the entire chargeback process is 100% manages by the customers bank. The customer initiates a dispute with their bank, and their bank decided at the end of the day if they believe your story and evidence or the cardholders. They often side with the cardholder to keep the relationship going, even with strong evidence to contradict their claim.

Under the hood, all merchants need to maintain various compliances with merchant agreements, card brand policies, PCI, etc. The biggest issue that pops up is the chargeback ratio your allowed to have. Frankly the card brands want you to have a ratio of less than 1%. A processor may be more strict on this too. This means you had 1 chargeback per 100 successful orders. Friendly fraud, where somebody does a chargeback just to try and get the item for free is on that rampant, but merchants are still held to that 1% standard.

Square and Stripe comes in a lot here because of thow they are designed. They are not a traditional merchant account, all underwriting is done after you started to take payments, so now you took your first transactions and they are going to decided if your both your personal and business information matches their credit criteria to approve you for the account. This is where many fall short, they did not read the TOS and have a prohibited business, they were not elgible for an account for some reason, identity documents were wrong, maybe expired, etc. It is all automated and there is not much human insight into we have seen.

Once someone gets that account approval, we come back to chargeback ratio. Website owners fail to implement security measures like captcha before orders can be supported and payments charged. So they get used for card testing, and then get terminated became stripe/square instantly classifies you as high-risk and now they do not want the business, they don’t even want to stick around for you to fix things. Just wants you gone because frankly your business is now costing them too mulch and breaking the very detailed and thin profit model they have

Chargebacks come along, and while at other providers that allow that max 1% per card brand … square and stripe tends to get ansty way before that. They can get antsy on just one charge back. It comes down to again that the risk tolerance for these providers is extremely low because of how they underwrite accounts. They simply want no merchants that can cause them any sort of financial trouble.

moral of the point, if you want a real relationship, get a real merchant account with your name. The merchant account providers, especially smaller ones are super friendly and eager to help clients.

The stripe/square model as i see it is simple. they want small businesses, that are completely void of unusual risk. They want to through tools at you so you do not need to call, which allows them to deeply cut spending on customer service, and use canned responses for inquiries.

The merchant account provider is the opposite. They are flexible, they have often US based customer service reps to help you. If you go through an agent versus direct you will then basically have a dedicated account rep to go to for all issues that will help fit battles for you. Your account goes through underwriting upfront so you automatically know if your business is acceptable … not a month on your grand opening day.

This is a practice but some ISO’s to charge an ETF after the initial renewal contract. Many ISO’s will only charge the ETF during the initial term, and not on renewal contracts, even if the language is there. Some ISO’s I work with also will only charge the ETF, even in the initial term if you did not give them the opportunity to beat a competitive price before you left.

In terms of EVO Payments, they have acted lately as if they want to get out of the small merchant business. They have increased fees by about .50% in the last year, and have found other ways to ensure they are more costly to merchants.

I’m sorry that they gave you that $495 fee on the way out the door. But leaving Evo is one of the best decisions you could have made in my opinion.

Oof those fees, particularly debit and echeck is priced to be profitable for them. They are not passing true cost.

I’d also point out the max they can surcharge on credit is 3% and they are forbidden to surcharge debit per the agreement with visa and .Mastercard they signed

Credit checks have always occurred for traditional merchant accounts. Payment processing is essentially an unsecured line of credit that the merchant provider/sponsor bank has extended to you. They can have financial losses with excess chargebacks and you not paying up.

When you go with a company like Stripe, 2checkout, square, etc, you are a “sub-merchant”, and credit checks and underwriting tend to be very different.

For the credit check, these days to get approved, you need a fico score usually above 580-600, and not be currently in bankruptcy.

Sounds like you are in the US. shoot me a DM and lets chat. I deal with high-risk merchants and tend to get approvals.

The ATM fee reimbursement is likely a high bar without a monthly fee or maybe an excessively large balance.

Never heard of national processing, do you have a site?

Who did you originally signup with? National processing or TSYS?

The comments thus far are abit off the mark, since you are asking about a merchant account for credit card processing, not a bank account or credit card to be used for your business.

Not many seem to write reviews about them, probaly because it is such a secondary product. But a few review sites talk about them - https://fitsmallbusiness.com/us-bank-merchant-services/

Your business could be considered higher risk, if you are accepting taking down payments for work that is not being done “soon”. Soon being a definition up to interpretation honestly and US Bank does not involve themselves with any kind of high risk merchants, they are really only for the person that needs a terminal to set on the counter at the office.

If you want mobile payments or a button on your website for them to pay, probably not a good option honestly. I also think you are better off if you want with a company that specializes in payments, because they do one thing and can do that one thing well.

IF you want to chat with someone that specializes in payment processing, send me a DM.