Merchant Account Service

What is a credit card merchant account service? – It is an account established with an authorized Visa and MasterCard merchant account service provider such as Total Merchant Services/Global Payments that authorizes you to accept credit cards from your customers.  The company will factor your charges each day and fund your business checking account.  Total Merchant Services funds the entire batch total to your account, normally in 1-2 business days.

What is the application process for acquiring a merchant account service? – Total Merchant Services requires a signed and completed application form document set and a voided check on the account your want your funds deposited into.  In addition we will need proof of location commonly referred to as a site survey document. That can be a document such as a business license, tax certificate, utility bill or building lease.  If you already process credit cards with another merchant account service we will also need a copy of your recent processing statement.   You can fax all your documents in and your approval will normally be back in 1-2 business days.

Will my credit be checked and what if my credit is not so good? – All merchant applicants have their credit checked.  The reason is, there is liability on the part of the processor for any charges that are disputed due to defective products, unperformed services or a host of other reasons.  These disputes are called chargebacks and are ultimately the responsibility of the merchant to resolve. Some industries are flagged as high risk due to charge backs and reputational risk for the bank. If your merchant account has been flagged as high risk you may need to use one of our specialty credit card processors that handle high risk merchant accounts. Some industries that are high risk include adult merchants (link) and the collections industry (link) as well as credit repair companies (link). We will assist you in getting your merchant account set up with one of our credit card processor subsidiaries. Credit requirements are different for every merchant.  Generally swiping the card is less risky than keyed entry (card not present) since the actual card holder is present for the sale except in the instance of fraud.  (Any instance of credit card fraud should be reported to local law enforcement immediately).  Smaller ticket sized items, are less risky than large ticket size items, and products or services that are delivered on the spot like a restaurant or a cab fare are less risky than products that have to be delivered later or a service that is to be fulfilled at a later date.  Merchants that are already processing with another merchant account service are less risky so long as their present account is in good order.  Credit requirements on getting approved for a merchant account service will vary depending on the risk associated with your business model.

What if my credit is not high to establish credit card merchant account services?  - We have other options available for you to get a merchant services account established.  The most common option is for you to simply obtain a guarantor for your account.  A guarantor is just another person known to you that will share the liability on the account.  Another option is called a reserve account. Under a reserve account we simply setup an account for you and put a small portion of your funding into that account for security purposes.  If the account is maintained  in good order,  the balance of the reserve account is eventually transferred back to you.  Over 95% of all applications for a merchant account service with Total Merchant Services are approved on the owner or officer’s signature alone, so if your credit is not so good, don’t give up, chances are we can get your approved.

Are non-US based companies eligible for credit card merchant account services? – No.  In order to obtain a merchant account service with Total Merchant Services your business must be located in the United States and you must have a US phone number and a checking account on a US bank.

What happens after my merchant account service is approved? – We will immediately notify you that your merchant account service has been approved.   If you are receiving a free credit card terminal from us it will normally ship to you the same day via Federal Express 2 day service.  The terminal will have your download account file installed so when you receive it there is nothing left for you to do except plug it in (if landline terminal) or charge it up (if wireless terminal) and begin using it.  All new merchants will receive a courtesy call from our terminal help desk team to conduct a short training session with you on the usage of your new terminal and merchant services account.

I’m already a TMS merchant can I open another account and get another free terminal? -  Yes.  If you are already have merchant accounts services with Total Merchant Services and you are opening a second location, all you have to do is contact our sales team and complete a new application form and we will establish a new account for you and ship out a terminal for that location.  If however you need a second terminal for an existing location you must either agree to a $100 monthly minimum on the second account or you must purchase, rent or lease the second terminal.    If however, your second account is to be for a mail/phone or internet part of your business you are entitled to a free setup of the Authorize Net virtual terminal/gateway system for your business.

What if I’m not happy with either the terminal or the service? – If you are not 100% satisfied with your terminal or the merchant account service you may close your account within 45 days and we will issue a call tag for your equipment. In this event you are only responsible for the monthly and processing fees for the time you used the merchant account service.