| Application/Setup
Fee: We have NO application or setup fees, this entry will be Zero,
or blank.
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| Monthly
customer service and statement fee: We have NO Customer service or
statement fees, they are covered by your $24.95 FLAT rate! This
entry will be Zero, or blank.
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| Monthly
minimum fee: There are NO monthly minimum fees, this entry will be
Zero, or blank.
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| Visa
/ Mastercard qualified discount rate: Your rate is automatically
determined: if the processor gets the magnetic track information from
the swipe, it is done at the swiped rate. If not, it is done at
the keyed rate.
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| Transaction fee: This is our advertised 30 cent "per
transaction" charge.
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| Batch
closure fee: At the end of any day where you HAVE transactions, a
single additional transaction is required to bundle them up, and send
them off to get your funds. This transaction is known as a
"settlement" or "batch closure" transaction, and the
standard 30 cent transaction fee applies here. Obviously, on
days where you have no transactions, batch closure is not
performed. Batch closure is automatic, and occurs between 10:00pm
and 12:00pm Pacific, only when you have transactions.
Additionally, there is no batch closure on Saturdays, Sundays, and Bank
holidays. Weekend transactions are batched out Monday night with
the Monday transactions.
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| Non Qualified Transactions: Visa operating regulations
specify higher transaction fees for transactions they consider to be of
a higher risk. These include primarily, International and
Corporate cards, as the AVS (Address Verification System) does not operate
outside the United States, and a holder of a corporate card may not be
authorized for a particular purchase. Also, "Rewards"
cards fall into this category as of August 2005. When you buy a
product on your rewards card and get miles, points or dollars, Your
rewards get charged to the merchant in this category. As a
merchant, the "shoe" is now on the other foot, as the card
issuing companies will reflect the cost of the rewards in the Non
Qualified Transactions category. Some companies will charge you
the MAXIMUM possible rate for all cards, we assess each card
INDIVIDUALLY to charge you the lowest rate possible for each rewards
card you process.
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| Debit
Access and Debit Per Item Fees: All of our systems, Transaction
Central, PC Verifier, Pocket Verifier, and others process Debit as
Credit (Signature Debit), so there are no additional fees for processing
these cards. EBT CARDS are "Electronic Benefits Cards"
like Food stamps, and cannot be processed.
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| Chargeback
fee: A chargeback is when the cardholder is forced to contact his
bank to recover his funds when he either did not receive the product or
service promised, he returned it and was not refunded, or was the victim
of fraud. Careful adherence to our guidelines, and use of AVS and
CVV2 technologies can prevent this from ever happening to you.
This is as much a fine as a fee, and you can avoid it entirely!
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| Retrieval
(Request for Copy) This relates to merchants requesting documentation they
have already received (last six months worth of statements), either
via Welcome Package or monthly mailing. Good filing practice will
prevent the need for this. This charge also applies when the
processor must request a copy of your proof of delivery or signature if
a customer initiates a chargeback
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| ACH Return Fee: An ACH returned item happens under two
conditions. Either you issue a credit to a customer, without
enough funds to cover it, or the bank tries to collect its fees, and
again, you have insufficient funds to cover the transaction. In effect,
you have 'bounced a check' on your merchant bank, and this fee is
standard.
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| Voice
Authorization: Most companies will just tell you "It's an
800 number", and let you assume that its free. Actually, the
company behind the "800 number" charges $1.50 against your
merchant account whenever you call them. Since you have internet
access and with our wireless Pocket Verifier technology, you can accept
credit cards anywhere without having to use this "feature".
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| Checking
Account Change: This would normally only
occur if you changed the checking account that your merchant account is
using. (for example if you change banks)
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| Other
Fee (Electronic Checks): if you selected ACH as an option, this
will add $4.00 per month to your billing, and you will be charged 30
cents for each check you process..
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| Other
Fee (FLAT MONTHLY RATE):
This is your FLAT MONTHLY RATE, and is $24.95
unless you opted for ACH processing (E-checks), then it is an additional
$4.00 per month, or $28.95. This replaces statement fees, monthly
minimums, gateway fees, maintenance fees, and prevents these individual
parties from sending you a letter stating "your (statement/gateway/maintenance
) fees are going up AGAIN!"
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| Item fee:
there is NO additional "Per Item FEE".
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| Annual
Fee: There is NO annual Fee. This entry will be Zero,
or blank.
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