Financial Questions

How often are deposits sent into my bank account?

Merchants with a processing history or high trading volumes can request 48 hour funding. For new businesses funds are sent 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.

If you require more frequent funding or a shorter hold period speak to a sales agent for more information.




How does a merchant review their transactions?

You will receive access to our reporting and account management panel that will provide complete access to transaction information.




What happens if a customer's credit card is declined?

The transaction will not be approved and the customer will be notified that the transaction has failed. They are then given the option to try again, either with the same or a different credit card.




Is a virtual terminal available for telephone, mail and fax orders?

Yes, you can receive a virtual terminal which will enable you to securely key in transaction details on behalf of your customers. This solution can be used for trade shows, telephone orders, or any other customer interaction where payment is not able to be collected through your website.




What currencies can I take payment in?

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. Because so many currencies are available and more new currencies are being added we do not publish a list of currencies on the website. 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.

The funds will be transferred from your merchant account into your regular business bank account every Tuesday. The funds can be sent into any business bank account. The only requirement is that the bank account must be located in the same country that your business is registered in.




Are there any holdbacks or rolling reserves?

There are absolutely no holdbacks. Your are sent 100% of your money each week, with no holdbacks or reserves of any kind.




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. Ideally speaking, by maintaining great customer service and keeping your customers happy, you should be able to do business without having any chargebacks at all.




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.