September 20th, 2003, 03:47 AM
Internet merchant accounts in UK for 16 year olds?
Does anyone know whether a 16 year old (in the UK) can obtain an Internet Merchant number? I am a web designer and have made many websites. I am sick and tired of having to process the payments on my websites using PayPal and my income has got to a point to warrant getting a business bank account and an Internet Merchant Number. Can I get this at my age (16)? After all I pay national insurance and I am technically self-employed. I really don't want to do this in one of my parent's names and so is there any legal reason why I can't?
If not where would you suggest I go to get one? I have looked around and think the best combination is:
http://www.barclaycardmerchantservices.co.uk/ (great domain huh!)
What do you think?
September 20th, 2003, 06:12 PM
Why don't you ask Barclaycard Merchant Services if you can get an account at 16? I don't know if there's an age limit - though they may require that you're over 18.
September 20th, 2003, 06:39 PM
I could but if they say no they will have a record if my website with my name (and age) and so this may prevent me from re-trying to obtain one in future (say under one of my parent's names).
I don't know of any legal reason why I can't, but obviously they won't be too keen, and I can understand it, I wouldn't invest in any websites my friends and piers make!
September 22nd, 2003, 12:11 PM
Ok I this is what I know.
I am nearly finished setting up my website that takes online transactions. So I had to get a merchant number. I am going to use a secure third party provider to deal with all my transactions. (try www.protx.com or www.netbanks.com they are some of the best around.)
With a online merchant number every bank has to go through a process to see whether or not the company/individual is going to make sufficent money on the internet using online transactions.
With every transaction the bank will charge you depending on the card payment e.g Credit Card or Debit Card and a setup fee that can range from £150 - £300.
You do not have to have get a merchant number from the same bank as where your account is held. This gives you a lot more freedom of who you want to choose, but every banks security is different from others.
One that I think you might be able to get is a HSBC one. I recommend you go for the "telephone orders". You can take customers details over the phone type them direct to HSBC over the internet using their secure servers, they check to see if the card is fraudulent there and then. You then receive the money in 3 days time.
All customers details are also stored in your private area so that you can look back at previous clients.
P.S. If you need any more information let me know and i will try to help you in anyway
September 22nd, 2003, 12:48 PM
Thanks for your advice but a telephone account really isn't suitable for me. My transactions would have to be authorised in real time and with my possible transaction volume a delayed processing solution would be impossible.
I am proficient server side programmer and am in the process of programming a payment services solution (similar to 2checkout.com) that does not require an Internet merchant account. What happens is this:
- Basically I get an Internet merchant and a payment service provider (in my case SecPay).
- A user (or 'merchant') signs up on my site for about £30.
- They choose various options and are able to basically build their very own web shop.
- A customer finds their shop and buys a product.
- I receive the money in my account for the time being.
- At the end of each month each transaction as added up and the merchant is paid minus my commission.
I am well on the way to finishing this project and I have ample funding from one or two other projects of mine. All I need is the Internet merchant account.