Frequently Asked Questions
- What credit cards can I accept?
A merchant account is an account established to accept credit and debit payments. It is often referred to as credit-card processing system, and allows you to track transactions much more effectively.
- Why is a Merchant Account better than PayPal?
First it is less expensive than a PayPal account. A merchant account is also more professional and reliable than other forms of credit card processing. PayPal will often charge for debit cards and include extra fees on a periodic basis.
- What is a Merchant Account?
An account established for an entity to process credit card and debit transactions. You can accept Visa, MasterCard, American Express and DiscoverNetwork. We also offer Diner's Club and JCB.
- How does a Merchant Account work?
A merchant account works much like a bank account. When your company processes a credit card, or debit card it deposits that transaction into an account from which you can make withdrawals.
- How long does it take to start accepting credit cards?
Our online application will only take 5 minutes to complete. Most of our merchants start accepting credit cards in 24 hours.
- Do you offer free technical support?
You will be provided with an (800) number to handle any problems or questions.
- What is a Discount rate?
The discount rate is the percentage of each transaction that the processing company charges to handle the transaction for you.
- What is a Virtual Terminal?
A web-based terminal that enables businesses to authorize, process and manage credit card transactions from any
computer that has an Internet connection and a Web browser.
- Is check software included?
Yes. We provide all of our merchant with free check software.
- When can I expect the money from my sales to appear in my bank account?
The money will appear in your bank account within 48-72 hours.
- Do I receive any training on the equipment?
You will be fully trained on all equipment at NO charge.
- What is an Address Verification System?
An Address Verification System (AVS) verifies that the Address and zip code match the credit card customer.
- How is my money protected?
First Data Independent Sales is equipped to address the key protection issues of both traditional and Internet merchants, including fraud, loss prevention and chargebacks. FDIS uses state-of-the-art security technology, and the LinkPoint® Secure Payment Gateway uses Secure Sockets Layer (SSL) technology-designed to help protect merchant
and payment information.
- I have a bad credit rating. Can I be approved?
Absolutely! 303merchantaccounts.com has one of the highest approval rates in the industry.
- Will I receive any training on my software or terminal?
It does not take much training to learn, and you will be fully trained on all equipment at NO charge.
- What is Real-Time transaction credit card processing?
Real-Time transactions allow your customers to submit their credit card information over the World Wide Web, and the charge is automatically approved within seconds. No person needs to be present for the transaction, so you can be making credit card charges literally while you sleep. The funds will appear in your bank account within 48-72 hours of the transaction.
- Other companies take up to 45 days for charges to appear as cash in my account. When can I expect the money from my sales to appear as cash in my bank account?
The money will appear in your bank account within 48-72 hours.
- What is the Discount Rate?
Every bank charges a discount rate to merchants. The discount rate is the percentage of each transaction that the credit card processing company charges to handle the transaction for you. Our discount rates are exceptionally low, at just 1.74% for retail (face to face) merchants, and 2.39% for Internet and mail order merchants. High risk businesses may have to pay slightly more.
- Do I receive any training on my software or terminal?
It does not take much training to learn, and you will be fully trained on all equipment at NO charge.
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