Credit Cards Merchant Account Services

A merchant account is the ability for a business owner to accept credit cards online or in a retail atmosphere. It allows you to accept the credit card transactions for which gets processed and deposited into your bank account. There are many avenues of accepting credit cards by going online, credit card terminal and even wireless.
If you are a retail business or online merchant you will have to accept the merchant account responsibility to expand your resource capability in the way of credit cards and soon to come smart cards. I receive many questions on how to buy the latest equipment without them even having the merchant account setup. Always do the research on the merchant account first and then purchase the compatible equipment.
Merchant accounts and accepting credit cards online can be the most important step you need to take to enter the world of internet commerce.
A merchant account is an industry term when a business owner / merchant and a bank have contracted to accept credit card payments. Establishing an account with a bank, Independent Service Organization (ISO), or Merchant Service Provider (MSP) allows you to process credit card transactions or electronic payments received from your customers. The bank, ISO, or MSP will deposit the sale proceeds into your business checking account, less a small commission.

Typical processing fees include per transaction fee, batch closing fee, monthly statement fee, and chargeback fee. Additional fees that may apply are application fee, termination fee, account maintenance fee, monthly minimum fee, and gateway access fee.
Most business owners generally try to find a merchant payment provider that offers the lowest discount rate. This fee is usually calculated as a percentage to hundreds (basis point) on the gross dollar amount of each transaction and is deducted from your deposit of credit card funds. In some instances, it can be more advantageous to have a higher rate rather than a lower one because the overall impact on an average ticket depends on the way a merchant account is set up.

There truly isn’t a best merchant account but there are processors out there that offer many hidden fees that are presented to the merchant after the fact. I always make sure to speak to the customer service department and make sure that they are informed about the business and have a 24/7-customer service line available. All processors and processing rates are very competitive these days and offer the same line of service. I would deal with someone directly involved and have been doing it for some time. You want to make sure that credibility is on the top of the list when acquiring a merchant account.
ACE Merchant Processing specializes in providing the most up-to-date technology that allows you to accept credit cards and debit cards via on-line, telephone, and face-to-face transactions. Our top-quality products are cost effective, easy to understand, and easy to use. At Ace Merchant Processing, we deliver a single-source solution for “one-stop” merchant services and we take pride in helping our customers. Our in-house Risk and Underwriting Department is readily available for application review and approval, our Technical Support Team is prepared to assist with even the most difficult conversion, and our live Customer Service Staff is accessible 365/24/7 to answer all your questions.
We here at ACE Merchant Processing provide you with the best resources and online help to make that decision as easy as possible. Please feel free to give us a call and we can assist you in setting up a merchant account or direct you in the best way.

There are truly no limitations to how many accounts you can have you would just have to pay the monthly fee for each merchant account you obtain. So, if you need to accept credit cards at your store and on your Web site, and if you wish to accept checks in check conversion, batch electronic checks or with check guarantee, the one monthly fee pays for all your services.
Of course, with each type of processing they have there own transaction fees and/or discount rates, which are the only incremental payments you need to pay when you have multiple merchant accounts. If you have any more questions about multiple accounts and which terminals can handle multiple merchants as well. Please, let us know.
We do not limit the number of merchant accounts that a business owner can have. Each account is subject to separate processing fees, monthly fees, etc. All accounts are based on specific underwriting criteria and are dependent on the types of products and services being sold.

Typically the industry standard is from 24-48 hrs depending on how the paperwork is obtained either through an online application or mailed application. I would give yourself a week time in advance so you can cross you T’s and dot your I’s. If you are started a new business then I would take time in discussing your needs and go over the rates and credit card terminals you will be using. If you are switching over the process is much more immediate and you can expect a speedy turnaround time.
Upon receipt of the application and required supporting documents, our in-house Underwriting Department will begin the review process of your application. The average timeframe for approval is 24-48 hours for domestic accounts, 10-14 days for Canadian accounts, and 3-4 weeks for International accounts. The setup and deployment of your merchant account will be within 24 hours of approval.

We do not have any hidden fees. Your monthly processing statement will be easy to read and understand. It includes detailed information such as (1) how much is processed a month; (2) what types of transactions are most frequently processed; and (3) what is paid to process those transactions.
I think in reality every company has fees but aren’t necessarily hidden fees. There are many fees involved when dealing with any financial institution or Merchant Account Company but you should definitely be aware of all fees involved. Cost Comparison is a valuable tool and will allow you the ability to make a wise decision on who will become your processor. Here is a list of some of the garbage fees that merchants pay because they are not aware of a better solution:
- Chargeback fees
- Retrieval fees
- Termination fees
- Gateway fees
- Gateway Per Item fees
- Hidden setup charges
- Non-refundable setup charges
- Batch fees
- Cancellation fees
- Minimum fees
- Pass through fees (these vary)
- Over limit fees
- Voice Authorization fees
- Voice AVS fees
- Non-Sufficient Funds fees
- Bank Setup fees
- Daily Close-out fees
- Software fees
- Licensing Fees
- Annual fees
- Amex/Discover setup fees
- Statement Fees (more for more services)
- Customer Support fees
- Technical Support fees

Yes, a few applications are declined. Statistically over 95% of applications we receive are approved, however, so unless you have serious credit problems or operate a business that we don't approve (adult content, drug paraphernalia, etc.) you will likely be approved. We obtain a credit report on each merchant.
Note that a discharged bankruptcy is normally NOT a reason to decline an account unless it is combined with other credit problems. You can consider other options as well for obtaining a merchant account.

Unfortunately, there can only be one merchant account associated with your business. This is required by the credit card associations and works with your tax id. If you have more then one business you can definitely have separate accounts for each one.
Also a reminder is that VISA / MasterCard rules and regulations prohibit more than one business processing on a merchant account. Keep in mind, however, that you can have more than one merchant account as long as the business name and tax ID are unique for each account.

For the most part you do have to be a U.S. citizen with a valid social security card. We offer other programs and application processes for Non U.S. based citizens and will be happy to point you in the right direction.
Yes, in addition to U.S. domestic accounts, we also provide merchant accounts for Canadian and International merchants. You must be a U.S. citizen to open a domestic merchant account. If you are a Canadian business owner, you can apply for a Canadian merchant account. International accounts are available for those citizens living outside the continental United States and Canadian borders.

We do offer Canadian Merchant Accounts and are available to the Canadian Market. We also offer Offshore Merchant Accounts, High Risk and any avenue of Merchant Accounts possible.
We have a relationship with Nova Canada, which we can settle in Canadian dollars or U.S. dollars in Canadian Banks, and we have great pricing and set up is about 1 week, which uses our gateway and has excellent fraud screening.
Please contact us for the best solution possible.

A number of factors can have an effect on your merchant account fees and costs. For example, the rates are dependent on the Standard Industrial Classification (SIC) and vary for different types of businesses. If a person uses VISA or MasterCard to pay for their purchase there is an interchange fee paid to the banks who issue the cards. Whether a card number is keyed into a swiped terminal or point-of-sale terminal can affect the discount rate as well . . . and the list goes on.
We do not have any hidden fees. Your monthly processing statement will be easy to read and understand. It includes detailed information such as (1) how much is processed a month; (2) what types of transactions are most frequently processed; and (3) what is paid to process those transactions. If you have questions about your statement charges, our live Customer Service department is available to answer your questions.
Fees and costs for a merchant vary depending on which type of merchant category you fall into. There are high risk merchants, low risk merchants, offshore merchants, U.S. only merchants, and many more. Your volume of business will also affect how we can offer you the lowest price. Drop us an email or give us a call today for an honest evaluation of transaction fees and processing costs.

Well, while we don't disclose our requirements, we do provide the following guidelines which are industry standards:
1) We don't open accounts for sex businesses, on-line adult content, roving merchants (door-to-door sales), drug paraphernalia, and similar businesses.
2) We'll require a copy of your business license, fictitious business name filing (DBA), seller's permit, articles of incorporation, tax privilege license or vendor's license and whatever is applicable.

Once your completed merchant account application is received, you MUST provide:
1. Copy of signor’s driver’s license
2. Copy of voided check with business name on check OR copy of letter from merchants business bank on bank letterhead:

a) Account name
b) Account number
c) Routing number
d) Signed by bank staff member

3. If currently processing credit cards, merchant will be required to submit 1-3 months processing statements.
4. If customer is asking for more than $10,000 in monthly processing volume OR risk is considered high, the merchant may be required to submit the following:

a) Copy of Checking Account Statements
b) Copy of business license OR articles of incorporation

The costs are dependent on which type of processing you choose and obtain. With each individual and circumstance the processing rates can vary. There are different application processes and rates for an off shore merchant compared to a non high-risk merchant. All is dependent on your current situation and risk factor.
The establishment of a merchant account generally requires a nominal application fee . There are, however, instances when a merchant account provider will waive these fees as part of an advertising campaign or in conjunction with added services. Additional startup costs are determined by whether a retail or Internet account is needed to accept and process payments. For example, a retail merchant account might need a POS terminal and supplies to accept credit and debit card transactions. Whereas, an Internet merchant account would need a payment gateway and some form of a shopping cart to accept payment from an online website
We will be happy to discuss these rates and what we can offer you. Please see the different arenas of processing below and choose one accordingly. Once we have your application we can discuss rates and fees or feel free to give us a call.

No. Retail merchant accounts cannot be used to receive payments for Internet payments. If you have a brick-and-mortar business and want to sell your products on a website, you will need to apply for an Internet merchant account. The difference between a standard-retail merchant account and a web-based merchant account is that the customer and credit card are not physically present. There is no assurance that the cardholder is initiating the transaction, thus making it riskier for the underwriting bank. As a result, you will pay a higher cost to accept credit cards online because the possibility of fraud is increased.
In most cases the two are separate and will only incur one set-up cost at initial sign up. You would normally only pay the monthly fee to add the Internet merchant account and set up costs is a one-time deal.
If you have any more questions please call us toll free or fill out the application and we would love to talk to you and answer any questions you may have.

Once again its dependent of what category your are considering when applying for a merchant account. There are different pricing structures for different merchants. For example: A High Risk Merchants rates differ then that of a conventional type merchant. Any one who can offer you just one rate is not giving you the whole story. It’s like buying a house; there are different factors involved that get you the lowest APR percentage. We advise that you ask plenty of questions and want to give you the resources in doing so.

The application process begins when you complete our on-line pre-application form or contact us by phone or you can begin by completing the pre application, we call you on the same day or following day to obtain additional information and verify a few facts. After we speak to you on the phone, we send out your application package overnight. This is for the conventional based merchant account.
Typically the process takes 24-48 hrs and is dependent on what type of merchant account structure you choose. Please call and verify or fill out the online form and we can answer those questions for you.
First, we will do our best to qualify you for a retail or Internet merchant account with Ace Merchant Processing. However, if for some reason you do not meet the necessary criteria there are other options available. If you are an Internet merchant wanting to accept credit cards, there are third-party processors that will include a payment gateway and shopping cart solutions with a merchant account. They will take care of the background details, pay your monthly fees, and assume the risks of fraud and charge backs. Keep in mind that the monthly fees will be higher, and some companies charge a set up fee and a per transaction fee.
Yes, a few applications are declined. Statistically over 95% of applications we receive are approved, however, so unless you have serious credit problems or operate a business that we don't approve (adult content, drug paraphernalia, etc.) you will likely be approved. We obtain a credit report on each merchant.
Note that a discharged bankruptcy is normally NOT a reason to decline an account unless it is combined with other credit problems

The application process begins when you complete our on-line pre-application form or contact us by phone or When you can begin by completing the pre application, we call you on the same day or following day to obtain additional information and verify a few facts. After we speak to you on the phone, we send out your application package overnight. This is for the conventional based merchant account. If you have any more questions please feel free to call 1-800- and we would be more then happy to assist you. Also, you can apply online and we will contact you the same day or following day.

We take pride in offering the best possible solution to obtaining and getting you started in accepting credit cards, debit, checks…etc. We have many solutions for the merchant and believe we can provide the best solutions and information if we can’t get you approved.

Each merchant must complete and sign an application form, which is a contract describing the duties and obligations of the merchant, and our sponsoring bank. However we do not require you to commit to a given period of time for processing with us.
Yes. We offer a 3-year, 2-year, and 1-year merchant processing agreement for both VISA and MasterCard … with the industry standard being the 3-year agreement
Once you enter into a lease, you are obligated to pay off the lease as you would under any other lease agreement. Please ask the Sales department for the particulars of each lease arrangement.

No we do not charge for a second merchant account but of course all transaction fees apply per transaction. There is only one monthly fee per merchant not account.

People who often own two businesses or different locations with that same business name. It is not a rarity for a company to have more then one merchant account to process credit cards.