WorldPay account costs

[ebooks]

Originally Posted by Brian Turner

They're not actually charging me anything for a transfer of account - but what concerns me is that when the WorldPay account comes up for renewal next year, I may find myself facing larger renewal fees plus uninvited monthly fees.

Unfortunately, I just joined Royal Bank of Scotland for my business account - and they only offer WorldPay for merchant processing, apparently.


EDIT: That's typical - I was told I'd get a ring-back on Friday afternoon because the right department was not immediately available - now I'm told I'll have to call them on Monday because the sales department is closed over the weekend.

Nat West used to part-own Worldpay, and as they were taken over by the RBS, it would be safe to assume that RBS now part-own it - hence trying to provide Worldpay as the only option.

Worldpay stinks in my opinion. Whilst it is a good system, they are going to kill themselves by continually ramping up fees and providing pathetic customer service. Do they still work on a 4 week turnaround for remittance?

[JamesSmith]

Originally Posted by ebooks

Nat West used to part-own Worldpay, and as they were taken over by the RBS, it would be safe to assume that RBS now part-own it - hence trying to provide Worldpay as the only option.

Worldpay stinks in my opinion. Whilst it is a good system, they are going to kill themselves by continually ramping up fees and providing pathetic customer service. Do they still work on a 4 week turnaround for remittance?

I've spoken to people who have recently setup with WorldPay and the remittance has been 6 weeks along with a very large reserve.

[ebooks]

Originally Posted by JamesSmith

I've spoken to people who have recently setup with WorldPay and the remittance has been 6 weeks along with a very large reserve.

6 weeks! That would put a lot of strain on many small businesses' cash flow. I'd be interested knowing what Worldpay's business model is.

[paul andrew]

If you send worldpay an email asking to reduce the remittance period they will reduce it a week. Leave 3 months and send them another email they will reduce it by a week again. you can get it down to two weeks.

I would also sign up through an agent most will offer a discount.

Regards
Paul

[revsorg]

Where would I go about finding an agent, Paul?

[Dom Reid]

whatever happened to bartering ;0)

[Eagle]

...wouldn't work in my case.

[escort]

Hi there,

Where would I go about finding an agent, Paul

http://www.symbiant.co.uk/e-commerce.php

eases the pain of the costs slightly, also get the a virtual terminal thrown in (Tho to be honest, I suspect that most of you here could create your own in about half an hour)

I've found worldpay very good, although it has got more expensive recently. the only problem we've had was the DOS attack a while back. The 4 week delay in receiving payment is ok, it's better than usual business to business accounts and 30 day terms, no waiting for cheque in the post and endless chasing. It may be a bit hard in the first month, but that's what overdrafts/credit cards are for!

Cheers

K

[JamesSmith]

We're about to begin using ProtX, we have our own merchant account with HSBC, very low transaction % and 3 day wait for the money

[Brian Turner]

Ho ho ho.

Worldpay told me that because I'd already paid the annual fees on the sole trader account, then there would be no charge for setting up the limited company account.

Although there were problems with the sign-up process (as earlier in the thread), I thought it was all dealt with.

Now I've just been checking my historical records, and found that Worldpay charged the new account £540, then debited it £235 - leaving me with a balance of minus £305 before I took my first order.

Now chasing that up, but it does make their sales and support staff look like a bunch of monkeys.