The_Banker
Registered User
- Messages
- 342
Hi Folks,
I am in the process of starting up an on line business selling items to the general public. Presently I am an employee of a large company and I am doing this website on the side in the hope that it may grow and allow me to move to it permanently at a later date.
All is going well and I am now looking at the payment stage. I looked at getting a Merchant account with AIB (with the view to signing up with Realex Payments) but as I don’t have an existing business track record they won’t entertain me. I read from their website that I would need an business track record before they would allow me open a merchant account but as I have a large savings account with one of their subsidiaries (EBS) I thought I might get one. I didn’t so I decided to look at Worldpay.
With Worldpay it will take 4 weeks for the payments to hit my account. I can live with that. The business that I am trying to build will be a slow burner and I don’t expect to set the world alight straight away. I have looked around the Worldpay site and to be honest I am more confused than before I looked at it.
So I have a few questions about Worldpay that people who have used them may be able to answer. Any help is appreciated….
I am in the process of starting up an on line business selling items to the general public. Presently I am an employee of a large company and I am doing this website on the side in the hope that it may grow and allow me to move to it permanently at a later date.
All is going well and I am now looking at the payment stage. I looked at getting a Merchant account with AIB (with the view to signing up with Realex Payments) but as I don’t have an existing business track record they won’t entertain me. I read from their website that I would need an business track record before they would allow me open a merchant account but as I have a large savings account with one of their subsidiaries (EBS) I thought I might get one. I didn’t so I decided to look at Worldpay.
With Worldpay it will take 4 weeks for the payments to hit my account. I can live with that. The business that I am trying to build will be a slow burner and I don’t expect to set the world alight straight away. I have looked around the Worldpay site and to be honest I am more confused than before I looked at it.
So I have a few questions about Worldpay that people who have used them may be able to answer. Any help is appreciated….
- Do I have to register as a business or company first before I open an account with Worldpay?
- Does it matter if I am set up as a sole trader or as a company when it comes to getting an account with Worldpay?
- Do I need to have a merchant account to register with Worldpay? Once registered with Worldpay for payment will the payments go to any current account I specify or do I have to have another ‘special’ account with Worldpay which I then transfer to my current account?