Q: Is the procedure to change processors difficult?
A: It is a painless process. Most changes occur behind the scenes and are taken care of by ACCS.
Q: If our applications are not approved, will it hurt our credit rating?
A: No. We can just apply to another processor with an easier underwriting requirements.
Q: Will terminating our contract take a long time?
A: Contracts can usually be terminated with a penalty of $350 or less. Most often, we can have our processor issue a credit to the merchant for that amount to offset the cost to change processors.
Q: We just got a new processor a couple months ago. Is a rate review really needed?
A: Yes. This is an opportunity to get a rate review to make sure you are receiving the rates you agreed to. 75% of the time that is not the case – either the rates were not entered correctly or the agent gave false or misleading information.
Q: I heard that leasing equipment is cost-effective. Is that true?
A: No. Typical costs for new terminals range from $200 to $400. Even a 48-month lease for $19.99 a month equals $957 a year. Some merchants pay $29, $79, or even $99 a month.
We provide a new terminal to merchants for free. There are no annual costs, no monthly fees, and no tricks. We can also re-program your current leased terminal since the equipment lease and processing agreement are separate.
Q: What types of cards will be accepted?
A: Once ACCS has set up all of your software, you can accept transactions from MasterCard and Visa. Discover and American Express can also be added to your machine with little or no charge (pending approval)
Q: How long will the installation and operation of the terminal take?
A: Your terminal is customized and pre-programmed for you alone. When the terminal arrives, just plug it in. Also, the software that comes with your terminal has full support. ACCS offers comprehensive support for anyone that lives within a two-hour radius of their service area of Austin.
Q: What will my rates and fees be?
A: There are merchant account service providers that advertise the best rates. However, your real discount rate depends on factors that every merchant service provider must follow. These factors include, but are not limited to, Transaction Method, what type of business you have, and Monthly Transaction Volume. ACCS offers a quote proposal along with a full analysis based on these factors. If you do not have a merchant account, let our analysis help guide you in the right direction.
Q: What exactly are processing fees?
A: Accepting credit cards is not free. When you take a credit card purchase, the following organizations all get a cut from the transaction:
- Acquirer
- Processing Bank
- Card Issuing Bank (receives the most)
- Member Service Provider / Independent Sales Organization
- Card Association
- Sales Agent
Who pays these fees? Often, it is the merchant, since merchants are the ones who cannot reject credit cards. Consumers could pay using other methods, but they will leave dissatisfied. Merchants must accept credit cards so they can remain in business.
Q: Are there any additional charges? It is quite common that credit card processing companies have the hidden charges.
A: ACCS does not have any hidden costs. We do not prefer any one processor over the other. Because of this, we also have no incentive to charge you any additional fees.
Q: Can I keep my former merchant account if something is wrong with my new ACCS account?
A: Your old merchant account is kept active for the first 30 days of your time under ACCS. When you’ve received your statement for your first month, you can request to cancel the old account if you wish. If you would like to return to the previous processor, that is okay as well.
Q: Should I just go to my local bank and make a merchant account?
A: No. Our processors can handle the merchant accounts of most banks. Also, we have many programs for your terminal designed to fit your company. We also work with companies that many banks are hesitant to approve, including Internet businesses, mail or telephone order (MOTO) businesses, and brand new companies.
Q: I’ve just created a mail order division for my business. Can I get sales made by that section diverted to another bank account?
A: You would have to open a second merchant account to do that. Merchant accounts can only send funds to a single bank account.
Q: When I close out my terminal for the day, the funds don’t get sent to my account for 72 hours. Can I speed that up?
A: Yes. Most funding from a processor should happen no more than 48 hours later (excluding non-banking days like National Holidays and weekends).
Q: I run a health club that has more than 600 people. We charge monthly membership fees, too. Each month, my supervisor takes six hours out of the day to put those transactions in manually. Is there a way to do this automatically?
A: Most definitely. There are a lot of automated systems out there which can speed up your transaction time.
Q: I run a booth at some craft fairs about three times a month. I’m able to accept credit cards, but I have to put them into my terminal manually after my day is done. I want to have a wireless machine, but I feel like I’m going to have to pay a lot. How can I afford this?
A: There is an additional fee per month to process your credit card transactions wirelessly via cell or mobile network. However, conducting wireless or mobile transactions could be saving you a lot of hassle by allowing low-risk transactions where the card is present. When you key a charge in, you could be paying a higher rate than if the card is just swiped. The amount of transactions processed will play a big part in finding the overall cost for you. It will save you time, though.
Ready to get started?
Contact our company for a free consultation. We will advise you on how to go forward with your processing systems and show you the best options available.