When will I see the funds from my credit card transactions?
The time frame is somewhere between 48 to 72 hours.
What is a merchant account?
A merchant account gives your business the best of both worlds. You can be qualified for a business cash advance and process payments through our outstanding gateway.
What is a bank rate?
Also known as "Discount Rate." This is a percentage of each transaction that the bank charges as per Master Card and Visa Rate requirements. All banks are obligated to have at least 3 rate structures: Imprinted or phone authorized rates (the highest rate e.g… 2.62%), Face to face retail (typically the lowest rate e.g.. 1.49%). And a rate for Phone, Mail and Internet rates (slightly higher e.g… 2.24%). It is extremely important to properly classify the way you will accept credit cards so that you can attain the best rate structure.
How long does it take to get approved for a merchant account?
What does my business need to do to accept credit cards?
Fill out our online form and your business is on its way. We approve 98% of merchant account applications that are received.
I keep hearing about charge backs, what is a charge back?
A Charge Back typically happens when a card holder questions a credit card transaction with the credit card issuer. The issuing credit card company initiates a charge back against the merchant account. The sum of the disputed transaction is instantly withdrawn from the merchant\'s bank account. The merchant has 10 days in which to challenge the charge back with proof of delivery, proof of purchase, or signature, etc. A charge back fee is more often than not assessed to the merchant on top of the actual transaction.
Will I receive reports of my transactions?
With a merchant account with Genesis Capital Enterprises you get access to real-time reporting as well as access to custom reporting.