I was just hit with a $199 management fee for using them on top of the credit card and monthly fees they already charge. I am not happy at all about this, and wonder if there is a more reasonable alternative.
Also have been getting letters and emails about changes to their system that I don't really understand. When forwarded to OwnerRez the response has been that you were looking into it, but I haven't heard any updates.
I couldn't seem to find a search option in the forums to see if this topic has been discussed before so apologies if somehow I missed it.
Ouch! That happens sometimes once a year when the big companies throw in "annual renewal" fees. Sometimes it's just a nonsense fee to purposefully push out smaller accounts they no longer want.
We have recommended Lynnbrook Group in the past and continue to recommend them on a case by case basis. They are a small processor that is committed to the VR industry. However, in the spirit of openness, some users have said that support can be slow at times.
Recently, we've been recommending OpenEdge for credit card processing. They have some great incentives like:
- Will meet or beat your existing credit card processing fees
- Will give you a $100 Amazon gift card just for signing up
- You'll get Next Day Funding (Receive 100% of your payments next day directly to your bank account...The processing fee is not collected until the first of the following month)
- Accept American Express transactions at the same rate as Visa, Mastercard and Discover
We're working on a better application form with them, but that will do the trick right now.
Other OR users may want to mention who they like or dislike for processing. We integrate with 22 processors and gateways now.
I was with OpenEdge in the past and they were good. So yeah, I will start the process of transferring over to them.
Yes, I'm small potatoes and am now more like fingerling potatoes, smaller than I was when I started here a few years ago because of downsizing. I'll just have one rental this year instead of the four I used to have!
Thanks for your help. I'll let you know if I have any glitches in changing over.
Oh, also I just got a letter from WorldPay saying that they are sunsetting my existing platform on March 1. So it's time to change over.
This is a bit of an odd way to set up a payment processor. The form talks about me in the 3rd person, as if you (OR) is supposed to be filling it out for the prospect...
"Sales Representatives – Please use this form to enable OpenEdge to track and report on the status of your merchant lead referral. A representative from OpenEdge will contact your referral shortly."
Yep, we're working on smoothing out that form with them.
I just threw that form up there for users that want to start applying early. Soon, we'll have a baked-in application page that you can use to start an application from within OwnerRez.
I know it isn't much to go on, but the few reviews I saw on Openedge seem to be bad to average. I couldn't find anything on Lynnbrook group in the way of reviews. Does anyone have pros or cons for either, such as good chargeback procedure or really low-cost or rock solid handling?