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Financial Questions

How often are deposits sent into my bank account?

You will be given the choice between daily funding (every day) and weekly funding (once per week).

Daily funding is the most popular option. Funds are deposited directly into your business bank account every day as soon as transactions settle via the card payment network. There are two things to keep in mind when on daily funding. First, settlements do not take place on Sundays because in Canada the banks cannot initiate a funds transfer on Sunday. Second, it takes 72 hours from the moment you process the sale for the funds to show up and become visible in your bank account. The reason why is because during this time the transaction must settle via the payment card network, and from there to be deposited via EFT (electronic funds transfer) directly into your business bank account. This process takes 72 hours to complete.

Some merchants prefer to be put on weekly funding. With this funding model merchants are sent all of their funds in one big lump sum transfer that occurs once per week (sent every Wednesday). In the event that a merchant operates a particularly high risk business the underwriter in charge of reviewing the application may ask the merchant to begin on a weekly funding schedule for the first several months while they build a track record for their business. Most of our clients are on the daily funding model.

What type of reporting is available? dashboard

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? dashboard refund

Refunds are easy to process. You simply login to the secure online dashboard, pull up the transaction in question and perform a full or partial refund. It takes a few clicks of the mouse and about 60 seconds to do a refund. Contact us if you'd like a demo of the administrative dashboard.

What currencies can I take payment in?

We specialize in multi-currency processing, and support every major payment currency worldwide including:


... and over 70 additional currencies.

Allowing your customers to pay in their local currency will help to build credibility and remove concern when purchasing. It can ultimately drive a significant increase in sales.

Unlike most processors, we don't charge additional fees for multiple processing currencies. Learn about our multi-currency processing solution, or contact us to discuss multi-currency payments for your business.

See Currencies

Do you provide interchange optimization?

Yes, interchange optimization is a critical core component of our service offering. Learn more here.

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. Refunds are a standard part of business, and there is no special fee or penalty for doing a refund.

A chargeback is different than a refund. 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 $25 CAD. 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.