SOUTHERN CALIFORNIA'S #1 PAYMENT PROCESSOR, WITH OVER $15 MILLION IN PROCESSING YEARLY! HELPING STANDARD AND HIGH RISK MERCHANTS NATIONWIDE, ACCEPT ALL FORMS OF PAYMENT. SCHEDULE YOUR APPOINMENT TODAY
Q: How long does it take to set up a merchant account?
A: Approximately seven ten days from when all the appropriate paperwork is turned into either our CEO Stormy Chadwick or an Account Executive. I (your Account Executive) will do everything possible to move the approval and setup process along as fast as possible, and will communicate the status to you.
Q: Are the transactions and funds secure?
A: Yes, all products from StormPayments have the highest level of security. We have Military Grade Encryption on all payment terminals
Q: What are the requirements to open a merchant account?
A: To qualify for a merchant account, you must be a US resident and have a US business checking account, a Social Security Number or Federal Tax ID number and a business license (or other documentation from a third party verifying that you operate the named business at the given location). I (your Account Executive) can assist you in providing the correct documentation, and will also
photograph your business to verify its existence.
Q: Do I need a bank account to accept credit cards and does it have to be a business checking account? Do I need to changemy account or use your bank?
A: You do need a bank account to receive funds from your customers' credit card payments. It does not always have to be a business account; your current business checking account is probably sufficient. You do not need to change your bank to do business with StormPayments. We use your existing account. I (your Account Executive) can advise you on the requirements.
Q: Can my credit status prevent me from establishing a merchant account to accept credit card payments?
A: The only time credit is a problem is if you are currently going through a bankruptcy or if you have numerous tax liens. If you do fall into this category you still might want to apply your credit might not be as bad as you think. I (your Account Executive) will advise you on the status of your application.
Q: I do retail charges through a terminal, now can I do e-commerce and have the funds go into the same checking account as the retail funds?
A: Yes, and you need a new merchant account that complies with e-commerce discount rules and rates. I
(your Account Executive) can advise you as to the requirements.
Q: What is a chargeback?
A: A chargeback occurs when a customer receives their credit card statement and does not agree with the charges applied. The customer can either call the merchant or get a return on their merchandise or they can call their bank and issue a chargeback against the charge. It's always best practice for a merchant to do as much as possible to resolve any customer issues before the customer initiates a chargeback. Excessive chargebacks can cause termination of a merchant account. I (your Account Executive) help my merchant clients understand and manage chargeback situations.
Q: How do I avoid chargebacks?
A: You can avoid chargebacks by having a business checking account. If you have a website, be sure your "doing business as" name is the name on the site. This will look more familiar to a customer when they receive their statement in the mail. The merchant's telephone number can be placed on the statement next to the corresponding charge, so the customer will be more likely to call the merchant instead of the bank and simply return the goods. I (your Account Executive) can advise you in setting up these elements.
Q: What are Mid-Qual and/or Non-Qual Transactions?
A: Mid-Qualified and Non-Qualified transactions are transaction types that have higher rates applied to them due to the type of card used or the manner in which the credit card is being processed. For example if you normally swipe a Visa® or MasterCard® and obtain a signature this would typically be considered a “qualified transaction” and the qualified rate would be applied to the fee. If the card happened to be a rewards card and was swiped then the transaction would be considered a “mid-qualified” transaction. If the same card you swiped earlier would instead be entered manually (a keyed transaction) that transaction would be considered “non-qualified" transaction. These only apply to Merchants with Tiered Pricing, ask about our wholesale pricing program!
Q: What is a Monthly Minimum?
A: A Monthly Minimum is a base processing fee you will have applied to your account each month if your normal activity fees fall below that amount. These can be removed with some steps