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MEMBER PROFILE
Merchant Credit Card Services
Amy Walton
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The initial fees are currently $50 to open a merchant account and $10 per month statement fee charged regardless of activity. In general, the fees for processing a credit card transaction are 1.91% to 3.25% of the transaction amount plus $.35 per transaction, or $.75 if you call the transaction in manually by phone (dial pay) or $.95 for a voice authorization transaction. Actual charges vary by "business category" and by "transaction type". Also the time for depositing credit card charges can vary. For example, a $100 retail transaction completed on Tuesday would result in approx. $97 deposited directly into the business account on Thursday or Friday. The equipment needed for processing credit cards includes preprinted forms, and a manual imprinter (aka "knucklebuster") which comes with your enrollment kit. Transactions can either processed over the phone or by using a card-swipe terminal that requires a phone hookup. Card-swipe terminals can be purchased at time of application, or at a later date for $350 to $400. When you are ready to set up a merchant account you can get started by downloading
and completing the forms listed below. Applications for Merchant Credit Card account
2.A copy of a DBA certificate, or a monthly statement from an existing card
processor.
Product sheets of merchant card processing machines
The equipment needed for processing credit cards includes preprinted forms, and a manual imprinter (aka "knucklebuster") which comes with your enrollment kit. Transactions can either processed over the phone (called "DIALPAY") or by using a card-swipe terminal that requires a phone hookup. Card-swipe terminals can be purchased at time of application, or at a later date for $350 to $400. Sample terminal information can be downloaded below:
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