What if I do not have good credit?
If you are applying to process under $5000 per month in credit card orders and your average order is under $250, credit should not be an issue. If you expect to sell more than $5000 per month, credit is secondary to the type of product you are selling. As long as you are not currently in a bankruptcy, you can be approved.
Billing and Fees
What is a transaction fee?
A transaction fee is a small fee charged for each credit card authorization obtained through your merchant account. Some banks will deduct this fee at the time of sale, while most will deduct all transaction fees at the end of each month.
What is a retrieval?
A retrieval is a request made by the bank processor to receive a copy of the original sales draft involved in a dispute. The fee for this is usually around $10.00. This is often the first step in the chargeback process and is separate from the chargeback fee.
What is a chargeback?
A chargeback is when a consumer claims their card has been charged and the merchant has not delivered the product or performed the service. Your bank processor will notify you if a chargeback occurs and will ask you to provide information about the order. If you do not respond to the chargeback notice or if your bank processor does not accept your explanation, you will be charged a chargeback fee of in addition to the original charge to the consumer. Chargeback fees are usually around $25 and will be stated in your merchant agreement. A chargeback fee is NOT charged when a merchant issues a credit to a consumer.
Is there a setup fee?
No! There is no setup fee.
When will funds be placed into my checking account?
The general time frame is somewhere between 2 to 3 business days.
What is a merchant account?
A merchant account is a bank account that enables your business to accept payment by credit card online. Credit card transactions can only be processed through a merchant account. You must have a merchant account in order to be able to accept credit cards.
What rates should I expect?
Rates and monthly costs vary depending on the size of your business, the number of transactions you handle on a regular basis, the size of the transactions and other factors. We provide some of the lowest rates in the industry, and our no-obligation free quote is a great way to get an idea of prospective costs before signing up for merchant services. Contact us today for a quote via phone or fill out our simple online application for a fast response.
How long will it take to start accepting credit and debit card payments?
Your business can start accepting payments within a few days, depending on the options you select and the complexity of your merchant account needs. Our experts will work with you to set up physical or online processing as quickly as possible.