What are high risk merchant accounts? High risk merchant accounts are for certain businesses that are considered to be riskier. For example, a business that may be prone to a high rate of chargeback or fraud etc.
Are there any application fees? A broker’s or opening fee may apply for high risk account, according to the business type and/or country region.
What cards can we accept with Offshore Merchants? You are able to process Visa and MasterCard, American Express, Diners, and most debit cards.
What are the rates and fess? The rates depend on the type of business, monthly processing volume expected, and/or risk factors. Rates range from 7.50% to 14.50%, T&A does not charge additional fees such as: per transaction fees, batch fees, or communications fees, all of them are all contemplated within the flat rate set for your merchant account.
How long does it take to be approved for a T&A Third-Party Merchant Account? Once you provide us with the proper documentation, approval generally takes place within 24 hours.
How long before I can start processing credit card sales? You will be able to process immediately, as soon as you receive your POS terminal. Assuming the POS terminals are in stock, it may no take longer than one week. POS terminals may ship from Europe within one week, and may take up to three weeks for you to receive them.
Can I expect a rolling reserve? As is customary with high risk accounts you should probably expect to have a reserve account. They are typically 10% to 15% rolling reserves for 6 months, depending on your industry and monthly volume. Here is how they work: out of each batch the percentage reserve is taken from the gross sales, and set aside in a reserve account. On the 7th month the funds are released to you for the first month, on the 8th month for the second month, and consequently. This is a continuous cycle. As good processing history occurs over time this may be reevaluated and reserve eliminated from your account status.
|
 |