What is a merchant account?
A merchant account is an account at a financial institution that allows you to accept credit cards.

Why are rates higher for Internet, Mail and Telephone Order transactions?
Face-to-face transactions, where the credit card is swiped, are considered a lower risk by banks. Since this is the case, rates are lower as the instances of fraud and chargebacks are less frequent.

How long does it take to get setup with credit card processing?
You may be approved in one to seven days depending on many factors, including, but not limited to, previous credit card processing history, credit, and business type.

When are the funds usually placed into my business checking account?
The typical time period is two to three business days. Settled funds for American Express and Discover may take 72 hours and will show as separate deposits on your bank statement.

What kinds of credit card processing solutions are available?
There are a wide range of solutions for all types of businesses: swipe terminals for retail merchants; real-time processing for Internet sites; PC software for mail order/phone order and Internet businesses; touch-tone processing for low volume, seasonal, and mobile merchants; and virtual terminals for Internet, mail, and telephone order businesses. Each has its own pros and cons, ask your sales representative which is best for your business.

What are chargebacks?
A chargeback is when a transaction is reversed. Rather than adding money to your account, it is deducted. Chargebacks can occur for a wide variety of reasons, such as double-charging, credit card expiration, and customer disputes.

What kind of transaction reporting is available?
You will receive a paper statement at the end of each month. A detailed online report is available for a small fee.

I have a credit card swipe terminal from a previous merchant account, is it compatible other companies?
Probably. You will certainly need to have it reprogrammed to work with your new merchant account.

Can I use someone else's merchant account to do my transactions?
No. This practice is known as "credit card laundering" or "factoring." It is against the Visa® and MasterCard® agreement. Using someone else's merchant account to process your credit card transactions can lead to heavy fines and perhaps more. In addition, you'll also put that merchant's credit card processing account in jeopardy

How will I know when I’m approved?
You will receive a welcome e-mail including everything you need to get start using your approved merchant account. We are always available via phone to answer any questions during set up.

Will training be provided?
We are happy to answer any questions you may have on setting up and using your new merchant account. For questions relating to integrating the gateway to an unsupported shopping cart, it is best to have your technical support person call us so we may best assist you. For credit card terminal assistance, please call the number located on your terminal.

Can I use my existing business checking account?
Yes. There is no need to switch banks. We can deposit funds into any U.S. bank.

Can I still apply with bad credit?
Yes! We boast a 98% approval rate on all new merchants. We welcome you to apply.

If I need help, who do I call?
For general questions during business hours, call 877-531-1110. For questions regarding operation of your merchant account call support help line 24/7 located on your terminal or in welcome kit provided.

What credit cards can I accept?
Blue Wave Processing enrolls you to accept Visa, MasterCard, American Express and Discover. We also offer JCB and Diners Club if requested, as well as authorization for other major credit cards. If you already are enrolled for these, let us know your account numbers and we will make note in our files so you can process using your existing accounts.

Can I accept debit cards?
You can accept debit cards for debit networks throughout the United States. Contact your sales representative to enroll you in a debit card program. This program is included with our Free Terminal Program.

How are my monthly fees paid?
Monthly fees are automatically debited from your business checking account either before the deposit occurs or at the end of each month. There is no need to send in a check to pay fees. A detail of all fees is provided in your monthly statement to reconcile your accounting.

What are my monthly fees?
Monthly fees vary based on the type of your account. All merchants pay a monthly minimum, a statement fee, and a discount rate and authorization fee on every transaction. Refer to your Merchant Bankcard Agreement for your specific fees.

How do I update my account address or telephone number?
Contact our office to complete a change request form. Changes will be made within two business days of receipt of request.

How do I change my Doing Business As (DBA) in your records?
This change requires a signature from the account guarantor. A $15.00 fee for DBA changes will be deducted from your business checking account. The name on your business checking account must match your DBA or corporate name. Changes will be made within two business days of receipt of request.

How do I change the Direct Deposit Account (DDA) my batches are deposited into?
This change requires a signature from the account guarantor.

Can I have other people as signers or contacts on my merchant account?
The guarantor completes and signs a contact change form. The contact is only allowed to obtain account information; the guarantor must still authorize changes. If you need to change the guarantor, please call us.

What is a discount rate?
Discount rates are a percentage that is taken from the charge that is being processed. For example, if your discount rate is 2.35% and you have an order for $100, the discount rate being deducted would be $2.35.

What is a monthly minimum fee?
This processing fee is collected by your transaction and discount rate fees from your credit card sales each month. If your merchant account company charges $25 as a monthly minimum, and the transaction and discount rate fees collected by the processing company are at least $25 that month, no monthly minimum will be charged. However, if the fees for that month do not meet the $25 monthly minimum, you will be charged the difference. You can avoid this fee in many cases by just processing a few thousand dollars per month.