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My Merchant Data
Should
I offer credit cards as a payment option to my customers?
Probably. Many people prefer the convenience and option of paying by
credit card. Our Merchant Services program represents a good value for
your business, increasing sales through credit purchases and accelerating
your cash flow.
How long does
it take to become a merchant?
It takes approximately 3 business days to set up a new merchant after we receive
all application forms and supporting documents.
How will I know
what my activity has been?
You will have access to an online system to view transactions daily and receive your merchant statement. If you prefer to receive a paper statement, we can do that too!
When will I get
credit to my account for charge transactions?
As a
Missouri Bank merchant, you will receive credit on the 2nd business day for your Visa/Mastercard transactions.
How much does
it cost?
A variety of fees are associated with offering credit card payment to
your customers. Following is a summary of those fees.
- Application Fee
There is a non-refundable application fee of $50, additional locations are $25 each.
- Discount Rate
Like all processors, we charge a percentage of your sales; this is referred
to as the discount rate. Your discount rate is determined by various factors
such as your annual volume of bankcard sales and your average ticket size and how you process the transactions.
- Maintenance Fee
There is a $10.00 monthly maintenance fee which covers associated operating
costs.
- Per Item Fee
The per item fee will be determined by the processing method that is best
suitable for your company.
- Network Access Fee
Each time your terminal dials out for an authorization or query, this fee
is assessed.
- Phone Authorization
Occasionally you will need to call the authorization center for approval
on a charge transaction. These calls cost .95 cents each.
- Chargebacks
A chargeback is the reversal of a previous sales transaction.
When this occurs, the amount of the transaction and the chargeback
fee of $15.00 per occurrence is debited from your checking account.
Reasons for chargebacks include a cardholder dispute or a processing
error by the merchant's staff. You can reduce your risk of chargebacks
by following proper authorization and processing procedures.
- Accessing Your Account
We offer our merchants 24 hour, 7 day technical help desk support. We also offer you online access to your merchant account. Online access allows you to view your transactions, authorizations, chargeback activity, and your merchant account statements. This is offered to you at no additional charge.
Which equipment options are best for you?
That depends on the kind of business you have and how credit card payment
information is presented to you. Please call us to discuss the many available
options, we would be happy to assist you.
What about customer
service?
Our merchants enjoy unparalleled customer service. We take the time
to personally understand your business and your needs as an acceptor
of credit card payments.
How do I apply and who do contact if I have questions?
Please call or e-mail Uschi Perry, 816-881-8224 to sign up.
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