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Frequently Asking Questions about Merchant Service

Everything you need to know about merchant account and what real people ask from us and other merchant service providers.


What exactly is a Merchant Account?

If you want to accept credit cards, whether you are doing business on-line or have a physical store, you will need to obtain a merchant account. A merchant account enables merchants to accept and process credit card transactions. In other words, it handles transferring the funds from the shopper's credit card to the merchant's bank account.
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How long does it take to setup a merchant account?

Usually anywhere from a few days to a week if you are located within the US. If your outside of the US you can expect it to take several weeks. The turnaround time frame varies from provider to provider and which banks they are dealing with in order to get your merchant account approved.

Why can't I just establish a Merchant Account through my current local bank?

However, you'll probably discover that when it comes to smaller businesses, especially ones that are startups, home based or online, the vast majority of the banking establishment would prefer not to have these types of customers.
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What is the Terminated Merchant File or TMF?

The Terminated Merchant File or TMF listed merchants whose merchant accounts were terminated for cause. Though the Terminated Merchant File (TMF) no longer exists, its name is still commonly used to refer to the MATCH file.
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I am opening up another location and would like to accept credit cards. What do I do next?

The ownership of the new store must be the same as your existing account with us.
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Why are there different rates for different accounts?

The rates for merchant accounts vary based on the amount of risk involved in the transaction.  The accounts with the lowest rates will always be the ones where the customer is present and the card is swiped and a receipt signed in a face to face transaction.
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Do you offer merchant accounts to businesses outside the United States?

Yes, we do offer Merchant Service all over the world.

Can I use someone else's merchant account to do my transactions?

No, this is an illegal practice known as "credit card laundering" or "factoring." Using someone else\'s merchant account to do you credit card transactions can lead to heavy fines and perhaps more.
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What is a High-Risk Merchant?

There are varying definitions for "high-risk merchants." But generally speaking, a high-risk merchant transacts business in a merchant category where loss-causing events (such as excessive chargebacks) are likely to occur.
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Will it be a big problem if my credit rating is less than perfect?

Relax. It will be no problem at all. This is one of our specialties. We are able to get all types of merchants with all sorts of credit problems, even bankruptcies, set up with Merchant Accounts without ANY extra hassles, ridiculous stipulations and conditions, or additional fees.

What is a chargeback?

The name describes what it is - a processed credit card transaction that is reversed (charged back) to you because your customer or your customer's bank finds something wrong with the transaction.


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