Frequently asked questions.

Merchant Accounts and Credit Card Processing.

Can I use someone else's merchant account to do my transactions?


What is a merchant account?




How long does it take to get setup with credit card processing?


What is a monthly minimum fee?


What is a discount rate?


Do I need to have great credit to get approved?

Personal and business credit are factors that are used to qualify a business or individual for a merchant account. Every merchant account application will include a credit check of the business and the person signing for the merchant account. Perfect credit is not a requirement for opening a merchant account, but a better credit rating can help speed up the application process. The only time that credit becomes an issue when opening a merchant account, is if a merchant has an open bankruptcy, or has been terminated from processing in the past.

What is a chargeback?

A chargeback is where a customer is disputing a charge listed on their credit card statement. Typically as a merchant you will be charged a chargeback fee of around $15 to $35 per incident. It is important that you keep chargebacks to a minimum, most merchant account contracts do not allow a chargeback rate over 1% of your total transactions for the month.

How do I get paid?

Your card sales are deposited to your checking account after each daily batch settles. Deposits usually occur 1-2 days after the sale took place.