Can banks usually provide a merchant account if you have a biz account?

[noticojaru]

Can a bank usually provide a merchant account if you have a biz account in a bank? If so, why do people who have a company and a biz bank account, use Stripe and other payment aggregators?

 

[Sols]

Banks used to be the only ones who could process payments but changes in card scheme regulations have increased competition and innovation. Most banks have card processing capability, but it's usually just a resold service anyway, very often from FirstData.

Stripe and dedicated payment processor typically offer a better processing service, smoother onboarding, better API, and so on, and usually at much better rates than if you use your bank.

 

[noticojaru]

Stripe and dedicated payment processor typically offer a better processing service, smoother onboarding, better API, and so on, and usually at much better rates than if you use your bank.

the fees per transaction of Stripe and the like are never better than the ones that a bank gives you directly.

 

[Sols]

Then chances are you either have very low volumes or aren't doing a good job negotiating.

 

[happyjohn]

All banks provide credit card processing or are connected to the Visa / MC net. Question is how it works it differ from country to country!

 

[noticojaru]

Then chances are you either have very low volumes or aren't doing a good job negotiating.

you don't make sense. I said - banks always offer better or lower fees than Stripe. and you said "negociate better with stripe and it'll give you smaller or better fees than those of banks". gibberish? yes.

the fees of stripe are always higher, and they're not negociable.

 

[Sols]

you don't make sense. I said - banks always offer better or lower fees than Stripe. and you said "negociate better with stripe and it'll give you smaller or better fees than those of banks". gibberish? yes.

the fees of stripe are always higher, and they're not negociable.

I often negotiate with Stripe, but they will only listen if you have serious volumes. I'm sorry you haven't had any success so far.

 

[JohnLocke]

All banks provide credit card processing or are connected to the Visa / MC net. Question is how it works it differ from country to country!

Second that, in the country where I live I can go to my bank and ask them to setup a merchant account / contract for me. If I have a legit business and everything is straight they open the account within a day or two.