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How
it Works!
What is a merchant account?
A merchant account is a commercial bank account established by
contractual agreement between your business and the financial
institutions we represent. A merchant account enables your business
to accept credit card payments from your customers.. [Back
to Top]
Do I
need a merchant account?
You need a merchant account if you want to accept credit cards.
This is for both retail and Internet transactions? [Back
to Top]
What
is the discount rate?
The discount rate is the percentage of each sale that is collected
by the bank. This is how the credit card processing industry makes
its money. [Back to Top]
Do
I need to be a U.S. citizen? Yes,
the applicant needs to be a U.S. citizen with a U.S. social security
number. Non U.S. based businesses are also accepted but have a
different application procedure and a different processing system.
International Application [Back
to Top]
Do
I need a site inspection?
VISA and MasterCard require a site inspection. A visible web site
will serve as an acceptable site inspection. Your web site should
properly identify your business, a description of what you are
selling, the price you are charging, and proper contact information.
[Back to Top]
How
quick can we get this done?
We can e-mail you your documents right away. If you complete them
and send them back to us right away, very often we can have a
merchant number that very same day. If not, the number is usually
available the following day if everything is in order. [Back
to Top]
If
I already have a retail account, can I use it to process Internet
orders?
Absolutely not! This is important. If you accept a credit card
number over the Internet and process it through your retail terminal,
you will be violating VISA and MasterCard rules and you will place
your account in jeoprody. It is required to have an Internet account
for Internet transactions. [Back
to Top]
Do
I need a secure certificate for my web site?
No you do not. We provide that for you. This saves you a great
deal of money annually. When an order is placed from your web
site, it switches right over to our secure site and your customer
gets a notice that the order form is secure. [Back
to Top]
Do
I have to make an order form?
No, the order form is provided for you. All you need do is place
a few lines of html code on your web site and it takes your customer
to your secure order form. If you have a web designer, you won't
have to pay to have a form made. [Back
to Top]
What
if my credit is bad?
We will just refer to you as having "entreprenurial credit."
Actually the majority of entreprenurs have damaged credit. That
is not held against you. If the IRS is banging down your door
and you have tax liens everywhere, chances are you will not be
approved. If you are in the middle of a bankruptcy that has not
been discharged, you will not be approved. Other than that, you
should be good to go! [Back to Top]
What
do I need to qualify?
A business in the United States, A checking account, a government
issued photo ID (drivers license or passport) and a web site if
you are doing Internet transactions. (we will make a temporary
one for you if you don't have one.).[Back
to Top]
Can
I use a personal checking account?
Yes, you can if you provide a copy of a business licence, DBA
form or Corporate certificate. [Back
to Top]
Can
I use a savings account?
No. Your merchant account bank needs to be able to ACH funds to
and from your account and that is not possible with a savings
account. [Back to Top]
How
long does it take to get my money?
The merchant account bank will deposit your credit card money
into your existing checking account normally within 72 hours.
[Back to Top]
Can
I use my account on multiple web sites?
Yes, you can place order buttons on as many web sites as you like
and as many domains as you like. There is no limit. [Back
to Top]
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