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Old 25-03-2010, 04:10 PM   #1
happyhelston
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Join Date: Mar 2010
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Default Difficulty obtaining merchant number

Dear All,
I have been trading in a retail outlet for almost 3 years and have used HSBC for my credit card processing from opening.
They recently increased the percentage they charge due to the high volume of cards I process.
I now have created an online site and applied to HSBC for an additional merchant number to accept online payments a month ago.
I have spent the last month phoning at least weekly to be told I need to provide financial accounts (I dont use an accountant so am self cert). I have provided turnover details and reasonable projections of increased trade.
Having explained that they already process my cards I seem to be going round and round in circles being passed from pillar to post.
Has anybody struggled to get an additional account or have I just been unlucky and should I just look to alternatives - maybe Paypal ?
Im concerned that if HSBC decline me (have no clue why they would), this will have negative impact on other applications.
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Old 29-08-2010, 08:28 PM   #2
Merchant UK
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Default Re: Difficulty obtaining merchant number

Quote:
Originally Posted by happyhelston View Post
Dear All,
I have been trading in a retail outlet for almost 3 years and have used HSBC for my credit card processing from opening.
They recently increased the percentage they charge due to the high volume of cards I process.
I now have created an online site and applied to HSBC for an additional merchant number to accept online payments a month ago.
I have spent the last month phoning at least weekly to be told I need to provide financial accounts (I dont use an accountant so am self cert). I have provided turnover details and reasonable projections of increased trade.
Having explained that they already process my cards I seem to be going round and round in circles being passed from pillar to post.
Has anybody struggled to get an additional account or have I just been unlucky and should I just look to alternatives - maybe Paypal ?
Im concerned that if HSBC decline me (have no clue why they would), this will have negative impact on other applications.
Sorry to hear of your problems, I've heard this so many times that the banks drag there feet and ask for near enough impossible requests when all you want to do is take credit card payments

Forget your local bank and all the accounts they want, Join the federation of small businesses (120 i think?) and sign up to their Streamline/worldpay service - No stup charges, no fee, no accounts or other paperwork required and get ready to take your credit cards within 3 weeks.
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