Author Topic: Costco Elavon credit card processing Master Thread  (Read 6079 times)

Offline Moishebatchy

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Costco Elavon credit card processing Master Thread
« on: April 07, 2013, 11:42:25 AM »
I'm looking for a good credit card processing solution, for processing CCs online (i.e. via computer, not handheld CC machine). A number of sources have recommended Costco Elavon, but apparently, you need to be a Costco member to sign up.

1) My father has a Costco membership - can I use his, or do the names have to match? If they do, is there any way to make me an "AU" on his Costco account for this purpose?

2) I will be making mainly large charges (minimum $1,000, often a few thousand dollars) - will they have an issue with that? (I know some processors, like Square, balk at large charges.)

3) Does anyone who currently has Elavon have any other tips or advice for me?

Thanks!

Offline dsw193

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Re: Costco Elavon credit card processing Master Thread
« Reply #1 on: April 07, 2013, 12:46:18 PM »
Every Costco member can get an additional card for family member

Offline robi

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Re: Costco Elavon credit card processing Master Thread
« Reply #2 on: April 07, 2013, 12:49:22 PM »
there's Thread about it, and I'm pretty sure Dan said he uses it....
"I'd rather be hated for who I am, then loved for who I'm not"

Offline yitzf

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Re: Costco Elavon credit card processing Master Thread
« Reply #3 on: April 07, 2013, 12:57:40 PM »

Offline Dan

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Re: Costco Elavon credit card processing Master Thread
« Reply #4 on: April 07, 2013, 01:02:40 PM »
Beware that most cards are not 1.99%
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline mgarfin

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Re: Costco Elavon credit card processing Master Thread
« Reply #5 on: April 07, 2013, 01:38:56 PM »
knowing the market well

costco elevon is very expensive (as most cards are not qualified/1.99%)

pm for much better deals

Offline Dan

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Re: Costco Elavon credit card processing Master Thread
« Reply #6 on: April 07, 2013, 01:43:33 PM »
FWIW, Freedom Visa and Sapphire WMC are both qualified/1.99 with Elavon.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline mgarfin

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Re: Costco Elavon credit card processing Master Thread
« Reply #7 on: April 07, 2013, 02:01:49 PM »
still most C to B businesses have a fair mix of cards, and B to B businesses  have mostly non qual cards

making it not the best choice as the surcharges r high

(FTR the cost on qual cards are is apx 1.6)


Offline Moishebatchy

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Re: Costco Elavon credit card processing Master Thread
« Reply #8 on: April 07, 2013, 02:43:48 PM »
there's Thread about it, and I'm pretty sure Dan said he uses it....

I know there's a thread, but that one is about CC processors in general. Here I have chosen a specific processor, and want to learn more about it.

still most C to B businesses have a fair mix of cards, and B to B businesses  have mostly non qual cards

making it not the best choice as the surcharges r high

Huh? Care to translate into English for a non-CC-guru like me? :)

Offline Dan

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Re: Costco Elavon credit card processing Master Thread
« Reply #9 on: April 07, 2013, 03:32:02 PM »
It seems that it's very hard to get an Apples to apples comparison in the cc world.

Elavon:
$20/month minimum charge
$8/month online virtual terminal surcharge
1.99%+.27 (IIRC) for qualified (Freedom/SPWMC)
No setup/startup costs.
2 year contract

So if you key in $1,000 on a Freedom card online your monthly bill will be $28.

How does that compare to your service mgarfin?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline hocker

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Re: Costco Elavon credit card processing Master Thread
« Reply #10 on: April 07, 2013, 03:36:44 PM »
Huh? Care to translate into English for a non-CC-guru like me? :)
C= Consumer, B= Business.

Offline mgarfin

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Re: Costco Elavon credit card processing Master Thread
« Reply #11 on: April 08, 2013, 12:51:26 PM »
It seems that it's very hard to get an Apples to apples comparison in the cc world.

Elavon:
$20/month minimum charge
$8/month online virtual terminal surcharge
1.99%+.27 (IIRC) for qualified (Freedom/SPWMC)
No setup/startup costs.
2 year contract

So if you key in $1,000 on a Freedom card online your monthly bill will be $28.

How does that compare to your service mgarfin?

$12/month minimum charge
$5/month online virtual terminal surcharge

1.99%+.27 (IIRC) for qualified (Freedom/SPWMC)

I can go lower on that it all depends on if u will be doing non qual's to

setup/startup costs on your first bill 100$ it can be waived if there is enough profit on account

3 year contract, ETF 490 (can be waived)

costco's cost is similar to our's and they're making a profit
« Last Edit: April 08, 2013, 01:02:26 PM by mgarfin »

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Re: Costco Elavon credit card processing Master Thread
« Reply #12 on: May 22, 2013, 09:25:39 AM »
Anyone know the fees of an international charge, either from a debit card or from a credit card?

Offline mgarfin

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Re: Costco Elavon credit card processing Master Thread
« Reply #13 on: May 23, 2013, 02:56:29 PM »
meaning not a USA card

4.5-5%

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Re: Costco Elavon credit card processing Master Thread
« Reply #14 on: May 23, 2013, 03:06:06 PM »
meaning not a USA card

4.5-5%
Wow.

I guess sticking with Paypal at 3.1% is my best option

Offline mgarfin

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Re: Costco Elavon credit card processing Master Thread
« Reply #15 on: May 23, 2013, 03:20:24 PM »
Wow.

I guess sticking with Paypal at 3.1% is my best option
As it is a downgraded transaction plus approximately 1%  for international  plus markup

Offline PlatinumGuy

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Re: Costco Elavon credit card processing Master Thread
« Reply #16 on: June 19, 2013, 03:20:22 PM »
Does Elavon support international cards?
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline myb821

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Re: Costco Elavon credit card processing Master Thread
« Reply #17 on: June 19, 2013, 03:36:51 PM »
Does Elavon support international cards?
look up

Offline PlatinumGuy

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Re: Costco Elavon credit card processing Master Thread
« Reply #18 on: June 19, 2013, 03:45:40 PM »
look up
Mgarfin did not specify if he is referring to the elavon card.
״וזה כלל גדול: שישנא אדם כל דבר שקר. וכל מה שיוסיף שנאה לדרכי השקר – יוסיף אהבה לתורה.״ - אורחות צדיקים

Offline MEIR613

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Re: Costco Elavon credit card processing Master Thread
« Reply #19 on: June 20, 2013, 12:28:05 AM »
Does Elavon support international cards?
I remember them mentioning it.