Originally Posted by AquaGirl
since their fraud protection seems quite good, and i will offer refunds, it is hard to see why people will try chargebacks? does this happen a lot? i havent had problems with this in the offline store..
Chargebacks happen more often than you think and mostly happen in card not present transactions. Unfortunately the bank wil always side with the customer and leave it up to you to prove otherwise.
check out https://www.fatzebra.com.au/help/chargebacks
for a breakdown of the process and main reasons.
Originally Posted by Phillip P
Yes i highly recommend you start with paypal and start applying now for your merchant account from the bank as it will take you a good 3-4 months to get it going. Eway is an easy sign up and plug and play most of the time depend what service you are using.
As for Merchant accounts, it can take as long as 3-4 months to get up and running. This can be shortened significantly by following the basics:
- Always talk to your current bank first, but don't be afraid to shop around. Your merchant account and business account dont have to be under the same institution.
- Prepare a business plan. If you're a start up, all banks will ask for this. They will treat every merchant account as a risk and will rate it accordingly.
- If you have an existing business relationship with your bank, get them involved in the process. this will save you a lot of time and could help eliminate the requirement for financials etc.
It's also important to know that banks might require to hold a deposit prior to establishing a merchant facility. This will depend on when payments are processed (Before the goods or service are provided, or after)
As for average set up times, it can take between 2 - 4 weeks. ANZ seem to be very quick at the moment where NAB and CBA seem to take 4 weeks or more.
Hope this helps.