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  • #978650
    Cliff Kovacs
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    Im having a lot of trouble getting approval for a wireless EFT machine for my new shop. I have a tarnished credit report. does anyone know who will deal or could help me be able to take card payments?

    #1108580
    SmartBizBlog
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    Oh boy… You just gave me a business idea :) Thanks mate ;)

    #1108581
    yourvirtualboard
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    Not sure of their selection criteria and how you past rating might be viewed but PayPal Here is a way to take credit card payments – if you have a PayPal account (and a smart phone).

    #1108582
    AussiePin.com.au
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    I didn’t know you need a good credit rating to get an EFT machine? Doesn’t make sense. Well, you could either register a company, which gives you the right to operate under a new entity.

    Then setup a business bank account, and google online (there are many australian companies that handles credit card transactions). I have personally used xilo, there are many other that have handheld card payment solutions.

    Best of luck.

    #1108583
    Cliff Kovacs
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    I Have a payapl here account, as a back up, but the fees are over the top, 2.4%+30c per transaction. I dont know why my credit history matters either.

    #1108584
    LucasArthur
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    Cliff Kovacs, post: 120671 wrote:
    I dont know why my credit history matters either.

    Howdy,

    Anything involving credit rating in a negative is, in the eyes of the bank, representative of how the person may operate in the future. Its wrong, although once this flag is raised they see it as a way to put a strike against your name.

    There thoughts, from my relatively inexperienced mindset, is based around the fraudulent activities that can occur with EFT machines and the likes. Examples:
    – you can obtain fraudulent card numbers (or use retained ones) and charge the cards manually through your services
    – you can overcharge peoples accounts (bank will try and protect their credit card users as much as possible because in fraud cases the bank tends to wear the bill
    – you can refund monies that didnt exist, even to your own credit card account

    Those are just 2, but there is an extensive list. It may be unfair, although they do justify it quite well… and when i say justify, this is to themselves as they would never ever tell you why! like with any banking conflict or decision that one doesnt understand.

    Know my input doesnt help, although it is interesting when you start considering what you can do if you have an EFT terminal – should you be ‘corrupt’ in any way.

    Cheers
    Jason

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
    #1108585
    Tall Trees Eco Store
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    I don’t remember having a credit check when I applied for my EFT machine and my business partner had an outstanding electricity bill which we didn’t know about until much later in our business relationship. So I’m sure they didn’t check us however this was around 4 or 5 years ago.

    We’re with St George however I know that Suncorp have some pretty competitive rates at the moment.

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