Merchant Services FAQ
What is a merchant account?
A merchant account is what allows businesses to accept credit card payments from their customers.
How do I apply for a merchant account?
You can call us at 1-877-574-4437 or click the following link: Accept Credit Cards with our Online Application.
When do credit card transactions get funded?
Merchand Services Club is a registered credit card processing company that funds all merchant transactions in 24-48 business hours.
If I have bad credit or no credit, can I be approved for a merchant account?
Absolutely! Merchant Services Club specializes in helping hard to place merchants get approved for a low rate merchant account. If your business is "high risk" or if you have bad credit we can help you get approved for a merchant account.
What is an internet merchant?
An internet merchant is a term used for merchants who conduct business on the Internet or through a website.
What is a shopping cart?
A shopping cart is a tool on a website that allows users to group products or services into one location prior to check out. A shopping cart is needed to process credit card transactions through a website.
Do I need a shopping cart to be an internet merchant?
No. A virtual terminal will work just as well. However, merchants that have a large number of products may find it easier to use a shopping cart and most e-commerce websites require a shopping cart.
What if I need help with my merchant account?
Our Customer Service representatives are available 24/7/365, toll free
If I buy a terminal from you, do I have to process with you?
No, you can process with almost any processor although our rates and fee's are the lowest so there is no reason not to process with us!
What is your privacy policy?
A privacy policy states what information may or may not be released to outside sources. To view our Privacy Policy click here.
What kind of training is required for using a credit card terminal?
A Merchant Services Club representative will train merchants to use terminals supplied by us. Also, a toll-free customer service number is provided and representatives are available 24/7/365.
What types of merchants do you approve?
All types of merchants meeting our underwriting standards. We have multiple banks and sponsor ISO's that allow us to approve 99% of our merchant applications. This includes high risk accounts like travel agencies and the adult industry.
What is the time frame for being able to start accepting credit cards?
We get most applicants approved within 24 hours.
Once your merchant account is approved, you will be able to accept cards upon receipt of your terminal or e-commerce password. This usually occurs within 3-5 business days of your account approval.
How do I determine what terminal, equipment and/or software is best for my business?
Our merchant account experts will work with you to determine what best fits your needs. A sales representative will discuss with you your options and the available programs for your business needs. We have programs and equipment for virtually all businesses including: Internet/E-Commerce - Retail - Mail Order/Telephone Order (MOTO) - Restaurant - Mobile/Wireless - Business to Business, and more.
What is a business cash advance, also referred to as merchant cash advance, and how does business cash advance work?
A business cash advance, also referred to as merchant cash advance is a convenient alternative to a traditional small business loan. It is cash given up front to businesses when they need it, and is based upon the cash flow from monthly credit card sales charges. Monthly payments don’t need to be made like small business loans; instead small debits are automatically taken from batched credit card sales.
How does business cash advance, also known as merchant cash advance effect my current credit card merchant account?
When you get a merchant cash advance with Merchant Services Club you are required to process your credit cards with us. We will meet or beat your current credit card processing rate. There is no need to purchase new equipment as we are compatible with nearly all terminal types.
How long is the approval process for a business cash advance/merchant cash advance?
Merchant Services Club can usually approve a merchant for a cash advance in 3 business days. Once approved funding takes 3-5 business days.
How much money can I qualify for?
The total business cash advance or merchant cash advance amount is based on your recent business history. Business cash advances/merchant cash advances range from $3,000 to $300,000 with the majority of businesses receiving $20,000 to $30,000. See how much you can qualify for with our online business cash advance prequalification calculator.
I have a low credit score; can I still get a business cash advance or merchant cash advance?
Yes. Merchants with bad personal credit can still qualify for a merchant cash advance as long as their processing history and volume meets our requirments.
What are the basic qualifications for a business cash advance or merchant cash advance?
Merchant Services Club requires that cash advance customers process at least $4,000 per month in credit card transactions. Our merchant account representatives can help you get approved for a cash advance.
Are there any application fees associated with applying for a business cash advance or merchant cash advance?
Merchant Services Club does not charge any application or up front fees for our merchant cash advances. Call one of our representatives today to find out if you qualify for a merchant cash advance.
How do I repay the money from the small business cash advance or merchant cash advance?
You repay the advance amount through your daily credit card batches. A percentage of your daily sales are held back until the advance amount is repaid. The mroe sales you do, the more you pay off. That way when business is slow you are not strapped for a set payment.
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