Financial Questions

How often are deposits sent into my bank account?

	Internet & Virtual Terminal Payments

	Internet and VT merchants can request 48 hour funding if they have an established processing history. The default funding schedule will apply to new businesses that have not processed credit cards previously which is funding each Tuesday with a one week delay. The deposits are made directly into your business bank account. Unlike the vast majority of processors we do not require holdbacks or rolling reserves as a standard part of the application.

	POS Payments

	POS merchants receive daily settlement directly into their business bank account with a 72 hour delay. The settlement delay can be reduced further for merchants that have an established credit card processing history.

What type of reporting is available?

You will receive access to our reporting and account management panel that will provide complete access to transaction information. Reports can be setup for customized delivery and if desired can be imported directly into your accounting software. If requested, hard copy paper based statements can be provided by mail on a monthly basis.

How do I perform a refund?

Refunds are easy to process. Internet and Virtual Terminal merchants simply login to their secure online control panel, pull up the transaction in question and perform a full or partial refund. POS merchants simply key the refund information into the machine.

What currencies can I take payment in?

E-commerce and Virtual Terminal merchants targeting international customers have a wide range of currency options.

You will be able to bill customers credit cards in almost any currency from around the world. We currently support over 150 different billing currencies including CAD, USD, GBP, EUR, AUD, JPY and more. If you have specific currency requirements do not hesitate to contact us.

You can easily add additional billing currencies to your account at any time. By allowing your customers to remit payment in their local currency your website will cater to them, helping to build credibility and remove concern when purchasing, and can ultimately drive a significant increase in sales. This is an important step when selling your products or services online in different countries around the world.

It is also worth noting that unlike many other processors, we do not charge additional fees for supporting multiple processing currencies. We include multi-currency processing at no additional charge, giving you the tools you need to succeed with a significant advantage over your competitors. If you need further information about multi-currency credit card processing, do not hesitate to contact us. One of our representatives will be happy to answer your questions.

When is the transaction processed?

Transactions are processed in real time format, immediately after the customer submits the information for approval.

Is a security deposit required for approval of my application?

While some processors require an upfront deposit or security reserve in order for your merchant account application to be approved, we do not require any type of deposit.

We are in touch with the reality of operating a business and understand that business owners require capital to operate, build and grow the business. For many business owners a security deposit is just not an option. We work with each client to ensure a security reserve is not required. In some cases where a merchant trades a particularly high volume of transactions, or if a higher risk product or service is offered the underwriters may request a reserve. This is rare and applies to less than 10% of our clients. In these cases we will work with you to come up with a solution that will satisfy our risk requirements and at the same time work with your business model so that it will not be an imposition on your business.

Will this work with my regular business bank account?

It is important to remember that a merchant account actually is a bank account. Specifically, the merchant account is a bank account designed to capture funds collected from credit card sales.

Funds are then transferred from your merchant account into your regular business bank account as per the funding schedule. The funds can be sent into any business bank account.

Is there a chargeback fee?

Yes, as with all banks there is a fee for chargebacks. Note that a chargeback is very different from a refund. There are no fees at all for refunds.

A chargeback is a disputed transaction between a merchant and their customer, where the customer has requested Visa or MasterCard to forcibly reverse the charges for the transaction. The fee for chargebacks is $15 USD, if it is a U.S dollar transaction, or $25 CAD if it is a Canadian dollar transaction. Note that the best way to avoid chargebacks is by maintaining great customer service. It is important to maintain a minimal number of chargebacks not just to avoid unnecessary fees, but to keep your account and business reputation in good standing with your customers.

Will my company name appear on my customers credit card statement?

Yes it will. When you complete your online application one of the questions that will be asked is "What is your desired trading name?". You can choose either your company name, or your website name if you prefer. You have full control over what you wish to appear on your customers credit card statement.

Toll Free: 888.414.7111