FAQ – Credit & Debit Cards
Credit Card Processing FAQ
Questions and Answers
When will I see my money?
A: Usually two business days after you close out the days transactions.
Why do the merchant service companies care about my credit, I am not using my credit card?
A: Everything that a merchant sells by credit card can become the liability of the underwriter setting up the merchant. Should a merchant not fulfill their responsibilities to their customers, the customer may want a refund. If the merchant is out of business, has no funds, or is fraudulent, then the underwriting entity may end up taking losses while refunding those customers.
Do I need to open a new bank account?
A: It is not necessary to open a separate account, but you can if you wish. The account name does need to match the name of your business. If you are sole proprietorship however you can use a personal checking account.
Can I have funds deposited into a credit union?
A: Yes, as long as it is a business account and matches the name of your business.
How long will it take to set up my business up to accept credit cards?
A: Approvals typically take a day or two. If you need equipment sent to you, then that can take another 1-3 days. This is the normal range. However we can put a rush on your order, and overnight equipment.
Do I need a separate phone line?
A: No, the terminal will only tie the line up for 10 seconds or so and then the line is free. It depends on how much activity is on your line. Some merchants do put another line in. Our FREE terminals can run through your Internet router if you have one.
Can I run transactions over my Internet connection?
A: Yes, there are terminals and software that can use your Internet connection. Our FREE terminals can do it and the transactions are faster.
If I don’t have a phone line, what can I do?
Does the system help prevent me from taking a bad credit card?
A: Yes. There are several features to help prevent taking a bad card. The system can check the security code and the address for a match. The system will check to see if the card is in good standing. If you see your customer in person, you are typically at less risk, but you should still use caution if you feel someone is acting strangely. If you are taking cards over the phone or Internet, then you need to be more cautious. Internet systems can limit the IP addresses and countries you do business with.
Are the processing terminals expensive?
A: No. They are typically FREE with good credit, or less than $200 even when credit is bad. Leasing can end up costing a fortune and we don’t recommend it.
Is it difficult and expensive to get started?
A: No, the process is very easy. We can do everthing by phone, fax, or email if you like. There is seldom any start up fee and the equiment is usually FREE.
Is there anyone to call after I am set up if I have question?
A: Yes, you will have a 24/7 customer service number to call.
For information call: 1-888-737-8433