Q: Are there any application fees?
C: There should be none although some providers charge up to $500.
Q: Are there any installation or programming
fees?
C: There should be none although some providers charge up to $100.
Q: Are there any statement fees?
C: There should be none, although some banks charge a monthly
statement fee of up to $10/month.
Q: Is there a minimum account billing?
C: There should be none, although some banks charge a monthly fee of
up to $50 for accounts that do not meet the minimum.
Q: Is there a chargeback fee?
C: A chargeback occurs when a bankcard customer has their account
credited for a prior purchase (i.e., merchandise returned under a
guarantee). There should be no fees to you for this although some
providers charge up to $10.
Q: Is there a voice authorization fee?
C: A voice authorization is utilized when your terminal or software
is not available. The provider usually has a toll-free number to use
for this purpose. There should be no charge but some will charge up
to $1/call.
Q: What are the transaction fees?
C: These fees are in addition to the discount rate charge on each
transaction. They can vary depending on the form of the transaction
and in general bankcard numbers taken over the telephone are
slightly more expensive. A fair fee is 20-cents per transaction.
Q: Is there a bank setup fee?
C: This is typical of a fee you will not find out about until the
11th hour unless you ask. There should be no setup fee but some
banks charge up to $50.
Q: Is there a daily close-out fee?
C: You will normally "close-out" your transactions at the end of
each business day. This is done by a simple transmittal to the
provider via your software or terminal. There should be no fees
associated with this.
Q: When is customer support available?
Toll-free number?
C: Support should be available to you via a toll-free number during
normal business hours.
Q: Is a reserve account required?
C: Some banks will require that you maintain a reserve account whose
amount is determined by your estimated sales receipts. You should
not deal with a bank that requires this reserve.
Q: When will funds be available?
C: That is, what is the time delay between a transaction and when
the money is available in the bank? It should not be longer than 3
days.
Q: Is money deposited in my own local bank?
C: In some cases, the provider's bank will require that funds be
placed in their bank, and not yours. If this is the case, you simply
move funds from their bank to yours a few times a month.
Q: What is the equipment warranty and what
assistance is available if the terminal becomes defective?
C: Warranty should be at least a year and if you are leasing, as
long as the lease. A 'loaner' should be available if your terminal
requires repair. (Note: We strongly recommend you do not lease. We
didn't find a single supplier who had lease terms we felt were
acceptable.)
Q: What credit cards can be processed?
C: Visa and Mastercard are usually processed. You can easily add
Discover at no cost but there are additional fees associated with
American Express.
Q: Is a manual imprinter available?
C: This should be included at no charge.
Sign up with us Just only $400 and get your
catalog system and merchant account both. No expensive hardware
purchase no extra monthly cost nor extra transaction fees. Please
contact sales@kjhsoft.com
