How to accept HUGE payments?
- Thread starter Rotalihinna
- Start date
My transactions are $2,500 - $13,000. The credit card processor did a credit check on us because we do charge over $10,000. We're paying as low as 1.49% per transaction but overall we average 2.15%.
In 7 years I have never had a charge back or theft, we handle most of the deliveries ourselves or through subcontractors.
With a transaction this large you'll find that many people will need to call their CC companies to increase their daily card limits (sometimes about $2,000). That will prevent a lot of the credit card fraud. At $10,000 most people will need to call their CC company will need to pre-authorize their transaction or it will be declined.
In 7 years I have never had a charge back or theft, we handle most of the deliveries ourselves or through subcontractors.
With a transaction this large you'll find that many people will need to call their CC companies to increase their daily card limits (sometimes about $2,000). That will prevent a lot of the credit card fraud. At $10,000 most people will need to call their CC company will need to pre-authorize their transaction or it will be declined.
I was sure this existed for a long time, but I must have been thinking about the US. Nevertheless, the reporting of transfers of $10k or more is for international transfers only, not ones done domestically...
Electronic Funds Transfer Reporting
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