Wholesale Credit Card Proccessing
	Frequently Asked Questions Q: What is a merchant account? Q: When will I be charged my monthly fees, and when can I expect to receive my monthly processing statements? Q: I have a question about my processing statement. How can I find out more information? Q: What do I need to do to process credit cards? Q: When can I start processing? Q: How does credit card processing work? Q: I need to program my credit card processing equipment. What should I do? Q: Does my credit card machine need to be turned on in order for it to auto-batch? Q: What is a merchant account? A: A merchant account allows businesses to accept and process credit card payments. In order to accept credit and debit card payments, you simply need to establish a merchant account with your Capital Bankcard Representative. Capital Bankcard will provide the basic financial services needed for your to receive credit card payments. Here are a few things to look for when searching for a merchant service provider: Credibility and professionalism Company size and longevity Knowledgeable sales representatives Accurate and detailed quotes with fully disclosed potential rates and fees on the application Product options Well-trained and helpful staff Reliable support Back to Top Q: When will I be charged my monthly fees, and when can I expect to receive my monthly processing statements? A: All monthly fees are charged and posted to your bank account on the first business day of the following month. Your monthly processing statement will be sent shortly after, typically arriving in the mail by mid-month. Back to Top Q: I have a question about my processing statement. How can I find out more information? A: For assistance with your processing statement, it is best to contact a customer service representative. Our staff is helpful and knowledgeable, and can answer any questions you have about your statement. Back to Top Q: What do I need to do to process credit cards? A: Once you have set up a merchant account with a merchant service provider (MSP), you will need to purchase credit card processing equipment, whether it be a terminal, software, or gateway product. Your Capital Bankcard Representative will help you find the right credit card equipment for your type of business transactions and processing needs. Ensuring that you buy the right equipment is extremely crucial in avoiding higher costs long-term. Back to Top Q: When can I start processing? A: Once you have your merchant account and your programmed credit card equipment, you are ready to accept credit cards! Back to Top Q: How does credit card processing work? A: Processing a credit card payment involves many parties and various stages, but below are the two main steps that merchants need to take: 1) CREDIT AUTHORIZATION: When a credit card is accepted, an electronic authorization is requested through a credit card terminal. The authorization request is sent to several parties to determine whether the status of the sale is approved or declined and then relayed back to the terminal. 2) CLOSE OR "SETTLE" YOUR AUTHORIZATIONS: All credit card transactions made throughout a given day must be "settled" to be finalized. Once settlement has been completed, Capital Bankcard will process the transactions, working with the cardholder's issuing banks to retrieve the money owed. Once retrieved, the money is sent to your bank account for payment. This is typically a 24-48 business hour process. *All authorized transactions must be settled in order to receive payment. Back to Top Q: I need to program my credit card processing equipment. What should I do? A: FOR NEW ACCOUNTS: If you need to purchase new processing equipment, contact your Capital Bankcard Representative will place your order. If you have existing processing equipment, one of our technicians will contact you within 2 business days after your account has been approved to guide you through the reprogram over the phone (usually 10-30 minutes, depending on the terminal). Back to Top Q: Does my credit card machine need to be turned on in order for it to auto-batch? A: All machines must be turned ON so that it can dial-out to auto-batch. Back to Top |Home| |Merchant Solutions| |Credit Card Terminals| |Resources| |FAQ| |Terminal Guides| |Cash Advance| |Gift Card Program| |Contact Us| ® 2010 Capital Bankcard is a registered ISO/MSP of the following banks: US Bank-Minneapolis MN, HSBC Bank USA, National Association Buffalo, NY, and Wells Fargo Bank, N.A.-Walnut Creek CA. Capital Bankcard - 800.478.4830 | 2 International Place 4th Floor Boston, MA 02110