Online payment providers - Same/Next day payment

[GC2012]

I am currently using Payment sense as the payment provider for my website and although I dont have any problems and their rates are reasonable I am getting a bit sick of the long waiting times for money to clear from them & in to my account. Sometimes its a couple of days and others can be 4 days. I know its not the end of the world but I am looking for a provider who does same or next day payments in to the business account if possible?

I am running approx £200,000 through the 'card facilities' on the website to give you an idea on volume, the rest is done BACS or finance.

Any recommendations?

[haberdashery]

You could try Stripe, but you will find that most card processors have some kind of buffer between payments being made and those payments being paid into your account - especially on high volume accounts.

I recommend Stripe, we have a blended rate of 0.6% + 10p for all credit and debit cards - our payments take 4 working days to hit our account (it's not hit and miss though, it's bang on every day and has been for two years). We do more volume than you do, but I am happy to introduce you to our account manager if it helps you get a good deal.

When doing a lot of sales in terms of revenue and number of transactions, credit card processors want some kind of buffer to protect themselves from chargebacks and disputes. Any processors that have offered us faster payment times have usually required a sizeable bond for up to two years. The exception here is PayPal, but their fees are obviously much higher - and also when we started out, we had 24 hour or 48 hour payments with WorldPay - but because our sales grew so much, they too wanted a bond if I remember correctly.

[Neilw3030]

Switched from worldpay to payzone last year as fed up with wordplays poor customer service an charges, I asked about how long to credit and was told “usual three days” in practice it’s four days. Similar volume to you and would like to find a quicker route.

[Franky Four Fingers]

I'm currently with worldpay and surprisingly I'm on a tarif the not many can match.
We were recently Visited by someone from Elavon who said that they could promise next day credits in to the account.
They could get nowhere Worldpays % but I would certainly consider them if it's next day however, they haven't got back to me and that was over a month ago.

[GC2012]

Thanks guys. I spoke to Paymentsense this evening and they said time wise there isn't anything they can do but my fees are as follows if anyone is interested:

Credit card- 0.73%
Debit - 0.33%
AMEX - 2.02% (I rarely get payment in AMEX).