CYBERAUTHORIZE  FAQ Online Advisor 

What Is a Merchant Account?

What kind of merchant account do I need?

What should my merchant account cost? Are they any monthly charges?

Can any business get a merchant account?

What Kind of Support Documentation Is Required For A New Merchant Account?

What If I Currently Have  Merchant Account, And Want To Change Processors?

I currently have a merchant account.  Can I just get an Internet Gateway, Virtual Terminal, or some other POS Solution?

Is there an application fee for a merchant account?

Is there a Set-up fee for the POS Merchant  solutions CYBERAUTHORIZE offers?

CYBERAUTHORIZE sells Major Brand Name Solutions, why wouldn’t I buy direct from them?

What are CYBERAUTHORIZE services? Do I have to use them all?

When Does the Merchant Get  Funded For A day’s transactions?

How long does it take a merchant to get a new merchant account?

What is a Chargeback and how can I minimize them?

What Is a Merchant Account? TOP

A merchant account is an account issued by a bank card processor, to a merchant (Business or business owner), underwritten by an bank at the authorization of MasterCard, Visa, and now Discover to accept branded bank issued cards for payment of products and services.  This is a direct account with a processor, and access to one means the business has proven itself to be a legitimate and financially sound entity or venture at the time of application.  Normally the business presents little to no financial risk to the underwriting bank in its business classification, offerings, practices, and policies.  CYBERAUTHORIZE works with the BEST processors in the country!!  There’s no “One Processor Fits All” with us. We take time to make sure the processor that gets your business will be a “FIT” for you!

What kind of merchant account do I need? TOP

That depends on the type of business you have (retail, MOTO, ecommerce store), and the way the merchant wants to process (POS terminal, phone orders, wireless cell phone, virtual terminal).  Sometimes determining what kind of account is best can be a bit tricky.  CYBERAUTHORIZE support professionals are experts in determining which kind of account is best for your business, and its bottom line!

What should my merchant account cost? Are they any monthly charges? TOP

The merchant account always has a discount rate charge, a per transaction and/or per item fee, applicable to every individual transaction. Annual fees, length of term stipulations, starter or introductory rates, and early termination or cancellation fees are normal fine print items.

Can any business get a merchant account? TOP

Most businesses can if they are not considered a “Prohibited” business type with a processor.  All kinds of business  structures can normally qualify (Sole Proprietors, LLC’s, C-Corps’s, S-Corps, Non-Profits, Partnerships, Trust, Etc.).  Although most processors don’t place “Prohibited” businesses, CYBERAUTHORIZE works with processors that DO underwrite prohibited, restricted, and non-traditional,  “hard to approve” accounts.  They cost a bit more, and take a bit longer to approve, but we work real hard to get you the account you need to do business!

What Kind of Support Documentation Is Required For A New Merchant Account? TOP

A new merchant may be required to provide some of the following:  a business check (voided), marketing materials, a driver’s license, a website (for ecommerce), financials, business license, Corporate documents, Corporate Resolution, Utility Bill, location photos, references.

What If I Currently Have  Merchant Account, And Want To Change Processors? TOP

Normally, that’s no problem.  A current merchant wants to FIRST get a new rate comparison.  Then the merchant wants to make sure they have satisfied their current contract terms.  Breaking a current merchant agreement could be costly!  Then you want to make all changes to the new processor, before canceling services with the old.  CYBERAUTHORIZE helps our clients go through this process seamlessly from beginning to end.

I currently have a merchant account.  Can I just get an Internet Gateway, Virtual Terminal, or some other POS Solution? TOP

Absolutely! CYBERAUTHORIZE wouldn’t have it any other way!! Don’t waste another minute wondering.

Is there an application fee for a merchant account? TOP

Never!  We consider it a privilege to process your application for merchant account service. The processor’s don’t charge us, so we don’t charge you!

Is there a Set-up fee for the POS Merchant  solutions CYBERAUTHORIZE offers? TOP

Yes! There are always set-up fees associated with the POS Merchant solutions CYBERAUTHORIZE sells.  From month to month we do offer set-up specials, and  POS  Merchant  Solution package specials.  From time to time those specials may include a set-up being waived.  We also offer special pricing packages for Non-Profits.  Most of the Non-Profit packages have heavily discounted set-up fees.

CYBERAUTHORIZE sells Major Brand Name Solutions, why wouldn’t I buy direct from them? TOP

Why would you? CYBERAUTHORIZE has the solutions you want, at  the price you want to pay.  Why pay more for the same product or service? We are direct sales house.  It’s like buying your favorite authentic designer brands for less with original support and warranty!  Plus, you’re more than just an account number and login ID to us. We only know our clients, by their names!

What are CYBERAUTHORIZE services? Do I have to use them all? TOP

CYBERAUTHORIZE offers  Merchant Accounts, and POS Merchant  Solutions  which allow business owners to accept , and process all major credit cards, check cards, signature debit cards and ACH/electronic checks transactions.   The CYBERAUTHORIZE eBusiness Solutions  are products and services  unique for businesses that use all kinds of electronic resources to promote, and market  their business.    With CYBERAUTHORIZE, you only use the services your business needs.  No two businesses are exactly the same, and we recognize your unique business, may have a unique or specific need.

When Does the Merchant Get  Funded For A day’s transactions? TOP

If a business settles or batches its transactions at the end of the day, funds are normally deposited into your bank account according to your agreement with your merchant credit card processor generally within 48hours, or 2 business days.  By request, and underwriting approval, 24 hour or NEXT DAY funding is also an available funding option with most processors.

How long does it take a merchant to get a new merchant account? TOP

New merchant account set-ups can take anywhere from 1 to 3 days on average depending on the processor, and type of account (retail, MOTO, ecommerce). The merchant must complete and sign all required  processor application paperwork, and provide all support documentation before the clock begins.  There is an underwriting process that occurs.  Sometimes an application will  be delayed for additional documentation, but once received, the process quickly completes.  We appreciate that all our processors are very thorough in screening all applications for fraudulent information and identity theft.

What is a Chargeback and how can I minimize them? TOP

A Chargeback is when the credit card issuer takes back the funds from the sale and returns all or a portion of it back to the customer. The two main reasons for this is that the customer is dissatisfied with the product and can't resolve it directly with you first, and the second is the customer claims they never made the charge in the first place.
A Chargeback because of a dissatisfied customer usually can be avoided by open lines of communication. This type of chargeback is most detrimental to your account standing. Too many of these types of charge backs against you would put your merchant account in jeopardy. You must try to resolve the customer's issues directly, and if you can't, it may be better to issue a refund rather than wait for the customer to file a chargeback claim against you. The first thing the card issuer will ask the card holder is if they contacted the merchant first before filing a chargeback claim. If they didn't, the card issuer usually won't pursue it until they do this first. If the card holder says they did contact you but couldn't get satisfaction, an investigation will be started. In cases of customer dissatisfaction, the card issuer usually sides with their card holder.

A Chargeback because the card holder denies the charges can be because of three reasons. First, an unauthorized person used the card. This could be another family member, a friend, or even a criminal who stole the card. Second, the card holder could just have forgotten about making the charge. And third, the card holder is lying about making the charge.  To avoid unauthorized charges, it is in your best interest to verify the identity of the individual making the charge, verify the signature on the card, and also use AVS(address) and CVC (card code) verification when making the charge.