credit card question

[andytheplumb]

Im starting a business and need to hget a facility to take credit card payments. Iwent to the bank and they said i couldnt do it as i have not been trading is there any other way of taking cc payments???

[jennyp]

You'll need to get a credit licence first, I don't think you'll get one unless you have been trading for while. I used to use a company called cardsave and found them very competetive. The rate any company charges is taken by what you think you will put through cards per month - the more money you put through - the lower the rate - if you see what I mean!!!!!!!!!
http://www.cardsave.net. If you contact them, they will probably help you through getting a credit licence also. One thing I didn't realise that I would have to pay when I handed back the machine was that I would get charged. Whether this applies to other providers I don't know.

[antiguru]

You could explore using Paypal as a short term measure.

[Oneeyedvic]

"You'll need to get a credit licence first, I don't think you'll get one unless you have been trading for while."

You will NOT need a Consumer Credit Licence for taking credit card payments, and even if you did, they are available to new start businesses.

If your bank will not help you, try other banks.

Be aware that there is a high cost involved - typically as a new start business you will be charged 4% of the transaction value and a monthly fee.

[PinkFizz]

What sort of business is it?

[dee5]

The company i work for use Natwest Streamline and we get charged �18.95 a month (plus VAT) for rental of the machine that can take payments with or without a customer there. We also get charged for transactions put through the machine, it is either a set fee per transaction or a percentage of the value depending on what type of card it is. Hope this helps