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by Exsterminator on August 30th, 2005

Exsterminator

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If I start an online business and someone makes a purchase with a credit card, how do I get the money?

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  • by mike blair on October 7th, 2005

    mike blair

    When you set up your business, you will open a business checking account. When you set up the business(online or otherwise) to accept credit card payments, you will set up a merchant account. When the customer's credit card payment is processed, the funds will be charged against their account and deposited into your business account, minus whatever fees the credit card company charges, probably around 2-3%.

    Comments

    • Good answer! BTW, for someone doing a "weekend" business, sending money via PayPal is a good alternative as well.

      HungryGuy

      by HungryGuy on December 7th, 2005

    • +6 for a very correct answer.

      mistje

      by mistje on September 11th, 2008

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