Credit Card Processing Merchant Account FAQs
Frequently Asked Questions and Answers.
Commonly Asked Questions and Their Answers.
1.) What are your Rates and Fees?
That is a long answer. Most merchants get pricing that has falls into 5 buckets. They are...
Check Card
Credit Card
Rewards Card
Mid Qualified
Non Qualified.
Bucket #1 is usually the best Rate and bucket 5 the highest. Keep in mind that although Rewards is bucket #3 not all rewards cards fall into bucket 3. A rewards card can be NON Qualified and fall into bucket 5 and that is the highest rate . A smart shopper will spend his time learning what he can do to make every transaction fall into the best category and secondly find out what the price is for each bucket.
2.) Are there any Cancellation Fees?
YES never more than the average cell phone contract.
3.) What is PCI?Do I have to comply?
You must comply to minimize the fines if you get hacked. If you are not compliant and you get hacked the fines WILL put you out of business. For More Information, Click Here.
4.) What is the timeframe for deposits?
They can be available the next day for a fee. Normal time frames are two banking days .
5.) What Terminals work with your Merchant Accounts?
Hundreds of different terminals work with our system. Terminals can be purchased for as little as $79. If you already have an existing terminal we can reprogram that to work with our merchant account system.
6.) What Business Types are Approved?
The following business will not be approved.
1) Adoption for profit
2) Adult entertainment
3) Bankruptcy attorney’s
4) Child porn
5) Collection agencies
6) Fortune tellers
7) Guns on the internet
8) Drug Paraphernalia
9) Internet Gambling
10) Protection Service
11) Sexual Encounter
12) Investor Service
7.) How fast are new merchants approved?
Usually the next day if we have all the requested information.
NO, No provider can offer this because the expenses are not fixed. Visa and MasterCard periodically change these rates making it impossible to offer a fixed rate.
9.) Do you have a referral program for new accounts?
Yes we pay out $ 50 for every merchant referred to NTC that signs up with us for processing services.
10.) Who will I get when I call your offices?
WE always answer the phone.
11.) Do you handle electronic checks? Debit Cards?
YES and YES call us
It helps to have good credit or a co-signor with good credit .
13.) What kind of reporting data do I have access to. Is it available online?
All reporting is on-line 24x7. Six months or statements and 90 days of deposits. A plethora of other information is also available .
14.) Is your equipment proprietary?
NO.
15.) Do you have a cash advance program?
Yes We Do.