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Table of Contents
What are your processing rates for credit cards?
Are there any monthly fees?
Do I need to buy new equipment?
What if I have both a physical location and a web site?
How soon can I have a merchant account?
Are there any sign up or access fees?
What is account truncation?
What are your processing rates for credit cards ?
Credit card processing rates can vary depending on the type of business and whether you prefer a bundled rate or a discount rate/transaction fee format. Generally speaking, a larger transaction size costs less to process using the discount rate/transaction fee combination. We would be happy to quote you a rate based on your needs.
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Are there any monthly fees?
Yes. Monthly fees are related to the amount and type of processing that you do. These fees vary with the processor and the type of service. Generally speaking, you can expect a statement fee, a debit access fee, a minimum processing fee, and sometimes a small annual fee. These fees don't normally have a large impact on your monthly processing costs. Sometimes, if you have multiple locations or merchant accounts, some of these fees can be combined resulting in a smaller total amount. All of our fees are disclosed on our forms and we are always happy to discuss them with you.
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Do I need to buy new equipment?
Not necessarily. Stickman Business Services Company certifies a wide variety of credit card terminals. However, you may want to upgrade your terminal to take advantage of some of the latest payment transaction services, such as multi merchant capability, or check imaging. Older terminals don't support these services. We can even offer you a cash trade in on your old terminal if you own it. Many times we find that merchants are renting a terminal at a rate that would allow them to own a terminal in a short time, saving hundreds of dollars in the long run. And with our terminal support plan, we will keep you processing as long as you process with us!
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What if I have both a physical location and a website?
If you have both a physical location and a web site where you would like to sell your products, we can extend your standard merchant account to the web. Using the secure transaction processing of the eprocessingnetwork, we can enable your web visitors to enter their credit card or check information right on your website, processing payments immediately.
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How soon can I have a merchant account?
We can usually have your merchant account approved in 24 hours or less. If you are purchasing equipment, there is usually one extra day. However, approval times are dependent on completion of all forms and approval from the acquiring bank. If there is any problem we can usually get it resolved the same day.
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Are there any sign up or access fees?
SBSC never charges a sign up fee or initiation fee of any kind. Depending on the type of merchant service that you require, there may be a small fee charged by that particular service, such as wireless. Once you have determined the kinds of services that you need, we will list all of the fees involved. If you are unsure, just ask us!
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What is account truncation?
Account truncation is a mandate by state law that requires the merchant to only print the last four digits of the cardholder's credit card number on the customer copy of the receipt. It is required that you make sure that the equipment that you use is in compliance with state law. Sometimes it is necessary for you to change equipment, if you have a non compliant terminal. As of January 1, 2004 the following terminals, among others, were deemed non-compliant: Omni 396, Zon jr. Zon jr. XL, TAT 150, XL 300, Tranz 330 T1, Tranz 420, All Hypercom T7 with 256K memory.
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Mark A. Gutierrez
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Revised: November 26, 2007 .](faq_files/image001.gif)