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I'd like to understand more about why you think it's a 'nightmare'. I set up a merchant account with St George in 2009 for my startup at the time and the whole
by xmodem 14y ago
I'd like to understand more about why you think it's a 'nightmare'. I set up a merchant account with St George in 2009 for my startup at the time and the whole process was fairly straightforward and hassle free. The fees were about $50/month + 0.8% of each transaction.
- jacques_chester 14y agoThe standard complaints: "Your business model isn't a fish-and-chip shop, please go away". "You don't own a home we can seize, please go away". "You want to bill and bank in USD/EUR/not-AUD? Please go away unless you are already successful". "Congratulations on being approved! The next step is to apply all over again to a completely different service. We don't actually take the payments ourselves".
- xmodem 14y agoI didn't have problems 1, 2 or 4 with STG - we were tiny and none of us had any assets (I don't think they even asked). We didn't try to do number 3 maybe that's the problem?
- gbpin 14y ago(I'm from Pin Payments). Yes, foreign currencies (e.g. USD) are a huge problem for small/new businesses here. Way too difficult.
- jacques_chester 14y agoIt depends on your business model. Mine wasn't a straightforward buy-a-thing-sell-a-thing model and this makes small business banking heads kersplode with great ferocity, it would seem. "What is it you do again?" "{{explanatory_statement}}" "... so, um, what products are you going to sell?" Annnnnd because my turnover is less than $ferrari, I'm always flicked to a small business banker. If I needed a loan for a commercial deep fryer I'd be talking to the right person. St George belongs to Westpac now, FWIW.