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Schedule of Fees Form
Standard Account
Blended Rates Separate Rates
Wireless Account
Blended Rates Separate Rates
On this page you will learn the how to get the lowest possible rates in the country for your Visa/MasterCard merchant account (see Merchant Account Rate Options below). plus the find out the monthly costs associated with having a merchant account. If you have any questions, please feel free to contact one of our representatives. This is a simple process and should not be confusing. .
Please see which level (1, 2 or 3) is applicable for your business to determine the discount rate and fees (listed below) are applicable for your business. There are 2 ways to get approved 1) Auto-Approval or 2) Regular Approval
AUTO-APPROVAL GUIDELINES
If you meet our Auto-Approval Guidelines noted below, it means that you will be approved regardless of the owner's personal credit history. The only exceptions are for merchants in a current bankruptcy that has not been discharged for a minimum of six months, for merchants on Visa/MasterCard's CTMF File, and for merchant applications that have falsified or fictitious information.
Level 1 - (Retail)
- 90%+ Card Swiped
- Future Service Liability Less Than 30 Days*
- Acceptable Type of Business
- Visa/MC Monthly Volume Less Than $200K/month, $2.5MM/year
- Average Ticket Less Than $30
Level 2 - (Retail / Service / Trade Show)
- Greater than 50% BUT Less Than 90% Card Swiped (Face- to-Face)
- Future Service Liability Less Than 30 Days*
- Acceptable Type of Business
- Visa/MC Monthly Volume Less Than $10K/month
- Average Ticket Less than $300
Level 3 - (Mail Order / Telephone Order / Internet)
- Future Service Liability Less Than 90 Days*
- Acceptable Type of Business
- Visa/MC Monthly Volume Less Than $10K/month
- Average Ticket less than $300
* This means that the product is received by the customer or the service has been completed by the merchant within the specified time frame of charging the customers credit card.
Prohibited Businesses - businesses that are not eligible for a merchant account via our services.
REGULAR APPROVAL
If you do not meet the Auto-Approval Guidelines, you can still get approved! Your application will simply need to be supported by any one of the following:
- Owner with a good, established personal credit history
- Business or personal financial statements or tax returns
- Current credit card processing statements
VISA / MASTERCARD - DISCOUNT RATES AND FEES
DEBIT NETWORK FEES
There are two (2) seperate transaction fees associated with debit card transactions. A debit card transaction is a check card that has the four to six (4 to 6) digit Personal Identification Number (PIN) number entered into the terminals encrypted PIN pad. This credit card transaction is processing in real time and is in the merchant's bank account immediately following the transaction. Typically, any merchant processing over $30 per credit card transaction will save money utilizing debit service over the traditional Visa/MasterCard credit card rate. The two (2) fees associated with a debit transaction are:
1) Flat $0.25 per transaction
2) One of the following 10 debit network acquirer fees
| NETWORK | ACQUIRER FEE | GROCERY |
|---|---|---|
| Accel | $0.03 +(0.65% + $0.12) (max of $0.53) | $0.24 |
| AFFN | $0.03 +(0.55% + $0.12) (max of $0.53) | $0.17 |
| Alaska Option | $0.12 | |
| Credit Union 24 | $0.25 + (0.65% + $0.03) (max $0.375) | $0.19 |
| Interlink | $0.035 + (0.75% + $0.15) (max $0.5350) | $0.28 |
| Maestro | $0.25 + (0.75% + $0.15) (max of $0.5250 | $0.27 |
| NYCE | $0.0375 + (0.65% + $0.10) (max $0.6875) | $0.28 |
| Pulse (inc. Money Station & Tyme | $0.07 + (0.65% + $0.10) | $0.28 |
| Shazaam | $0.28 | $0.20 |
| STAR (inc. MAC, Cash Station, & Honor) | $0.0325 + (0.65% +$0.12) + $0.01 (max $0.6425 |
$0.25 |
MERCHANT ACCOUNT RATE OPTIONS (LEVEL 1 & 2)
There are over 10,000 different credit card transaction types classified by Visa & MasterCard, but three (3) types of credit card payment transactions. They are as follows:
- Credit Card Transaction (see below)
- Check Card Transaction (see below)
- Debit Card Transaction (see DEBIT NETWORK FEES above)
Now you can choose whether you would like to have your credit card and check card rates blended together or left separate. Please see the chart below to choose which rate option you prefer for your merchant account. If you would like to have the separate rate option, please notify one of our representatives prior to submitting your application.
Please print the applicable Schedule of Fees on the right!
