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Free Hypercom T4100
What's the catch? Is it really free?
Yes, the equipment is yours to use at no cost.
You keep it as long as you process transactions
with us. Should you ever terminate your
processing relationship with us, you are
required to return the equipment to us in good
working order within 10 days. There is no
application fee, no annual fee, and there are no
"hidden fees." It is indeed a free
placement program. Note: there are 2
important requirements with the free
placement program. First, the processing
agreement has a 36 month term with a $295 early
termination penalty in year 1, and a $195 early
termination penalty in years 2 or 3.
Beyond the 36 month term, there is no
cancellation penalty. Second, a $25
monthly processing minimum is required.
This means we expect you to generate $25 per
month in processing fees from your Visa / MC
activity. Should you generate fees less
than $25 in a given month, we just ask you to
make up the difference so your month-end fees
are at least $25.
Return
to Index
Return to
Category
How long can I keep the equipment?
You can keep the free placement equipment as long as
you process transactions with us. Should
you ever terminate your processing relationship
with us, you are required to return the
equipment to us in good working order within 10
days.
Return
to Index
Return to
Category
What if the equipment breaks / malfunctions?
Your first move with any difficulty will be to
call our 24/7 Help Desk. Once they
determine your difficulty is due to an equipment
malfunction, at your request we will ship you an identical
replacement unit via overnight delivery.
If you subscribe to our Merchant Advantage
Program, you are entitled to free overnight
replacement of any defective equipment. Otherwise, replacement
service will be provided for $99 per incident.
In either case, you simply put the defective
machine back in the box which delivered your
replacement unit, and we will retrieve it via
call tag. No need to worry about
manufacturer's warranties or shipping your unit
out for repair.
Return
to Index
Return to
Category
Will I receive new equipment or refurbished
equipment?
Your original free placement equipment will be
new. Any replacement of defective
equipment will come from our stock of units that
we've refurbished in house.
Return
to Index
Return to
Category
Dial-up -or- DSL: which is better for me?
This is entirely your choice. For most
merchants, dial-up connectivity works just fine.
You can share a phone line with a fax machine or
with your business telephone line.
Transaction approvals over the phone line take
about 12 seconds, otherwise the phone line stays
open. DSL connectivity is the best option
for merchants who perform many transactions per
day or for whom the telephone is ringing off the
hook. With DSL, transactions are approved
in about 3 seconds, and the phone line is never
used. In both cases, you can rest assured
that your customers' transaction data is
transmitted in a secure format.
Return
to Index
Return to
Category
Can I process debit cards?
Yes. The Hypercom T4100 terminal comes equipped
with an internal pin pad which we encrypt on
your behalf before deployment. This allows
you to process pin entry debit cards: V/MC check
cards, as well as straight bank ATM teller cards
(no V/MC logo). The advantage of using pin
entry debit is that you can bypass the discount
rate (i.e. the "%" rate) associated with V/MC
transactions altogether. Consult the
schedule of fees for more details.
Return
to Index
Return to
Category
Can I process checks without a check imager?
Yes. We can arrange for a 3rd party check
guarantee company (such as CrossCheck) to be
installed in your terminal side by side with
your merchant account. This will be a
traditional paper check guarantee: you'll enter
customer information through the terminal key
pad at the point of sale (check #, DL #, sale
amount, etc.) and write the approval information
on the check before you deposit it at the bank.
Returned checks go to collections, and you
receive your funds within 30 days.
Compared to electronic check conversion with
guarantee (using a check imager), it is very
cumbersome, slow (you must write data on the
check itself, and deposit the checks at the
bank). With a check imager, you deposit
check transactions electronically (just like
credit cards), and declined transactions (i.e.
"bad checks") can be resubmitted electronically
a 2nd and 3rd (of which 60% to 75% will clear on
resubmission). Bottom line: get the check
imager -- it's free!
Return
to Index
Return to
Category
What about other functionality (gift cards,
etc.)?
The Hypercom T4100 terminal has sufficient
memory to house multiple programs: merchant
account (credit cards, debit cards), check
processing, gift & loyalty card programs, etc.
The memory is sufficient enough for each of the
programs to run independently of one another, so
you are free to add 3rd party programs as you
see fit. Note: we offer an excellent gift
card program to complement your merchant account
set up.
Return
to Index
Return to
Category
How soon will the money reach my bank account?
Funds from approved transactions are deposited
electronically (via ACH credit) directly into
your business checking account within 48 banking
hours.
Return
to Index
Return to
Category
When and how do you collect the processing fees?
We collect processing fees at month's end
electronically (via ACH debit). You are
not billed directly, i.e. it is not possible to
pay your processing fees by mailing us a check.
A monthly statement will be mailed to your
business address which details your account
activity and discloses fully how we calculated
your processing fees.
Return
to Index
Return to
Category
Are my rates guaranteed never to go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Visa, MasterCard, and all of the
other payment issuing companies (Amex, Discover,
Diner's, various debit networks, etc.). We
guarantee that we, Money Tree Merchant Services,
will never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract. Be
advised, however, that Visa and MasterCard
review their rate structures periodically
(usually every April and October). We have
no choice but to pass along the occasional
industry-wide rate increases stipulated by Visa,
MasterCard, or any of the other payment issuing
companies. With apologies, we have no
control over this.
Return
to Index
Return to
Category
Can I view my transaction activity online?
Yes! In addition to your hardcopy monthly
statement which we mail to your business
address, we also subscribe you automatically to
our free Global Access Advantage. Global
Access Advantage allows you 24/7 online access
to your pertinent transaction data.
Return
to Index
Return to
Category
Free Hypercom T4100 & MagTek Check Imager
What's the catch? Is it really free?
Yes, the equipment is yours to use at no cost.
You keep it as long as you process transactions
with us. Should you ever terminate your
processing relationship with us, you are
required to return the equipment to us in good
working order within 10 days. There is no
application fee, no annual fee, and there are no
"hidden fees." It is indeed a free
placement program. Note: there are 2
important requirements with the free
placement program. First, the processing
agreement has a 36 month term with a $295 early
termination penalty in year 1, and a $195 early
termination penalty in years 2 or 3.
Beyond the 36 month term, there is no
cancellation penalty. Second, a $25
monthly processing minimum is required.
This means we expect you to generate $25 per
month in processing fees from your Visa / MC
activity. Should you generate fees less
than $25 in a given month, we just ask you to
make up the difference so your month-end fees
are at least $25.
Return
to Index
Return to Category
How long can I keep the equipment?
You can keep the free placement equipment as long as
you process transactions with us. Should
you ever terminate your processing relationship
with us, you are required to return the
equipment to us in good working order within 10
days.
Return
to Index
Return to Category
What if the equipment breaks / malfunctions?
Your first move with any difficulty will be to
call our 24/7 Help Desk. Once they
determine your difficulty is due to an equipment
malfunction, at your request we will ship you an identical
replacement unit via overnight delivery.
If you subscribe to our Merchant Advantage
Program, you are entitled to free overnight
replacement of any defective equipment. Otherwise, replacement
service will be provided for $99 per incident.
In either case, you simply put the defective
machine back in the box which delivered your
replacement unit, and we will retrieve it via
call tag. No need to worry about
manufacturer's warranties or shipping your unit
out for repair.
Return
to Index
Return to Category
Will I receive new equipment or refurbished
equipment?
Your original free placement equipment will be
new. Any replacement of defective
equipment will come from our stock of units that
we've refurbished in house.
Return
to Index
Return to Category
Dial-up -or- DSL: which is better for me?
This is entirely your choice. For most
merchants, dial-up connectivity works just fine.
You can share a phone line with a fax machine or
with your business telephone line.
Transaction approvals over the phone line take
about 12 seconds, otherwise the phone line stays
open. DSL connectivity is the best option
for merchants who perform many transactions per
day or for whom the telephone is ringing off the
hook. With DSL, transactions are approved
in about 3 seconds, and the phone line is never
used. In both cases, you can rest assured
that your customers' transaction data is
transmitted in a secure format.
Return
to Index
Return to Category
Can I process debit cards?
Yes. The Hypercom T4100 terminal comes equipped
with an internal pin pad which we encrypt on
your behalf before deployment. This allows
you to process pin entry debit cards: V/MC check
cards, as well as straight bank ATM teller cards
(no V/MC logo). The advantage of using pin
entry debit is that you can bypass the discount
rate (i.e. the "%" rate) associated with V/MC
transactions altogether. Consult the
schedule of fees for more details.
Return
to Index
Return to Category
What is a check imager / how does the check
system work?
A check imager is a peripheral device used to
scan the MICR information on the bottom of a
paper check (bank routing number and bank
account number) in order to convert it to an
electronic transaction. The check imager
also records an actual digital image of the
check which can be stored and retrieved later.
The net result is this: you never have to
deposit checks at the bank in order to receive
payment, and you never have to retrieve manually
a copy of an original check in order to initiate
collections on a bounced check. The system
works as follows. First, a customer will
write you a personal check for payment of goods
and/or services. You, the merchant, will
scan the check through your MagTek MICRImage
check imager. Once complete, your Hypercom
T4100 terminal will prompt you for pertinent
information (transaction amount, etc.), and will
print a dual copy receipt (one for you, one for
the customer to sign). You will have the
customer sign your copy, and you'll return both
the check and the receipt copy to the customer.
At the end of the day, you will transmit the
batch of check transactions electronically in
order to route the funds -- just like credit
cards! The normal time to receive funding
for approved and cleared check transactions is 7
business days.
Return
to Index
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Are my check transactions guaranteed?
Yes, if you select "Electronic Check" service on
your check services application. The
discount rate and transaction fee that you pay
for the check conversion service includes the
guarantee. By "guarantee" we mean that you
receive funds from check transactions no later
than 30 days from the date of the transaction,
depending on the success of resubmissions and/or
collections. It's possible you could
receive your funds sooner.
Return
to Index
Return to Category
What about other functionality (gift cards,
etc.)?
The Hypercom T4100 terminal has sufficient
memory to house multiple programs: merchant
account (credit cards, debit cards), check
processing, gift & loyalty card programs, etc.
The memory is sufficient enough for each of the
programs to run independently of one another, so
you are free to add 3rd party programs as you
see fit. Note: we offer an excellent gift
card program to complement your merchant account
set up.
Return
to Index
Return to Category
How soon will the money reach my bank account?
Funds from approved card transactions are
deposited electronically (via ACH credit)
directly into your business checking account
within 48 banking hours. The normal time
to receive funding for approved and cleared
check transactions is 7 business days.
Return
to Index
Return to Category
When and how do you collect the processing fees?
We collect processing fees at month's end
electronically (via ACH debit). You are
not billed directly, i.e. it is not possible to
pay your processing fees by mailing us a check.
A monthly statement will be mailed to your
business address which details your account
activity and discloses fully how we calculated
your processing fees.
Return
to Index
Return to Category
Are my rates guaranteed never to go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Visa, MasterCard, and all of the
other payment issuing companies (Amex, Discover,
Diner's, various debit networks, etc.). We
guarantee that we, Money Tree Merchant Services,
will never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract. Be
advised, however, that Visa and MasterCard
review their rate structures periodically
(usually every April and October). We have
no choice but to pass along the occasional
industry-wide rate increases stipulated by Visa,
MasterCard, or any of the other payment issuing
companies. With apologies, we have no
control over this.
Return
to Index
Return to Category
Can I view my transaction activity online?
Yes! In addition to your hardcopy monthly
statement which we mail to your business
address, we also subscribe you automatically to
our free Global Access Advantage. Global
Access Advantage allows you 24/7 online access
to your pertinent transaction data.
Return
to Index
Return to Category
Free Nurit
8000 GPRS Wireless Terminal
What's the catch? Is it really free?
Yes, the equipment is yours to use at no cost.
You keep it as long as you process transactions
with us. Should you ever terminate your
processing relationship with us, you are
required to return the equipment to us in good
working order within 10 days. There is no
application fee, no annual fee, and there are no
"hidden fees." It is indeed a free
placement program. Note: there are 2
important requirements with the free
placement program. First, the processing
agreement has a 36 month term with a $295 early
termination penalty in year 1, and a $195 early
termination penalty in years 2 or 3.
Beyond the 36 month term, there is no
cancellation penalty. Second, a $25
monthly processing minimum is required.
This means we expect you to generate $25 per
month in processing fees from your Visa / MC
activity. Should you generate fees less
than $25 in a given month, we just ask you to
make up the difference so your month-end fees
are at least $25.
Return
to Index
Return to Category
How long can I keep the wireless equipment?
You can keep the free placement equipment as long as
you process transactions with us. Should
you ever terminate your processing relationship
with us, you are required to return the
equipment to us in good working order within 10
days.
Return
to Index
Return to Category
What if the equipment breaks / malfunctions?
Your first move with any difficulty will be to
call our 24/7 Help Desk. Once they
determine your difficulty is due to an equipment
malfunction, at your request we will ship you an identical
replacement unit via overnight delivery.
If you subscribe to our Merchant Advantage
Program, you are entitled to free overnight
replacement of any defective equipment. Otherwise, replacement
service will be provided for $99 per incident.
In either case, you simply put the defective
machine back in the box which delivered your
replacement unit, and we will retrieve it via
call tag. No need to worry about
manufacturer's warranties or shipping your unit
out for repair.
Return
to Index
Return to Category
Will I receive new equipment or refurbished
equipment?
Your original free placement equipment will be
new. Any replacement of defective
equipment will come from our stock of units that
we've refurbished in house.
Return
to Index
Return to Category
Can I process debit cards?
Yes. The Nurit 8000 GPRS wireless terminal comes equipped
with an internal pin pad which we encrypt on
your behalf before deployment. This allows
you to process pin entry debit cards: V/MC check
cards, as well as straight bank ATM teller cards
(no V/MC logo). The advantage of using pin
entry debit is that you can bypass the discount
rate (i.e. the "%" rate) associated with V/MC
transactions altogether. Consult the
schedule of fees for more details.
Return
to Index
Return to Category
Can I process checks through the wireless
terminal?
Yes. We can arrange for a 3rd party check
guarantee company (such as CrossCheck) to be
installed in your terminal side by side with
your merchant account. This will be a
traditional paper check guarantee: you'll enter
customer information through the terminal key
pad at the point of sale (check #, DL #, sale
amount, etc.) and write the approval information
on the check before you deposit it at the bank.
Returned checks go to collections, and you
receive your funds within 30 days.
Return
to Index
Return to Category
What about other functionality (gift cards,
etc.)?
The Nurit 8000 GPRS wireless terminal has sufficient
memory to house multiple programs: merchant
account (credit cards, debit cards), gift & loyalty card programs, etc.
The memory is sufficient enough for each of the
programs to run independently of one another, so
you are free to add 3rd party programs as you
see fit. Note: we offer an excellent gift
card program to complement your merchant account
set up.
Return
to Index
Return to Category
How soon will the money reach my bank account?
Funds from approved card transactions are
deposited electronically (via ACH credit)
directly into your business checking account
within 48 banking hours.
Return
to Index
Return to Category
When and how do you collect the processing fees?
We collect processing fees at month's end
electronically (via ACH debit). You are
not billed directly, i.e. it is not possible to
pay your processing fees by mailing us a check.
A monthly statement will be mailed to your
business address which details your account
activity and discloses fully how we calculated
your processing fees.
Return
to Index
Return to Category
Are my rates guaranteed never to go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Visa, MasterCard, and all of the
other payment issuing companies (Amex, Discover,
Diner's, various debit networks, etc.). We
guarantee that we, Money Tree Merchant Services,
will never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract. Be
advised, however, that Visa and MasterCard
review their rate structures periodically
(usually every April and October). We have
no choice but to pass along the occasional
industry-wide rate increases stipulated by Visa,
MasterCard, or any of the other payment issuing
companies. With apologies, we have no
control over this.
Return
to Index
Return to Category
Can I view my transaction activity online?
Yes! In addition to your hardcopy monthly
statement which we mail to your business
address, we also subscribe you automatically to
our free Global Access Advantage. Global
Access Advantage allows you 24/7 online access
to your pertinent transaction data.
Return
to Index
Return to Category
What does "GPRS" mean?
"GPRS" stands for "general packet radio service"
and is the data transmission equivalent of "GSM,"
which is used for voice transmission. GPRS
wireless service is a combination of digital
wireless footprints from Cingular, T-mobile,
AT&T, and 18 other regional carriers. The
result is a powerful, reliable, and widely
dispersed footprint (see
coverage map) for transmitting transaction
data in a secure format. If you lose
signal from one of the providers, the Nurit 8000
GPRS wireless terminal will connect seamlessly
with one of the other providers. You no
longer have to worry about weak signal strength
or sparse wireless coverage!
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to Index
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Will the Nurit 8000 GPRS wireless terminal need
to connect to my cell phone?
No. The Nurit 8000 GPRS wireless terminal
has an internal wireless modem designed to
transmit financial information from your
customers in a secure digital format over the
GPRS network. The wireless account will
already be activated when you receive your
terminal. FYI: The GPRS wireless signal
will not interfere with your mobile phone
signal.
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to Index
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What if I'm working in an area without
wireless coverage?
In the rare cases where you may have no wireless
signal, you can take advantage of the terminal's
"store forward" capability. This allows
you to swipe the card now, and run the
transaction (for approval) later. The
danger, of course, is that in the event of a
declined transaction, you have no recourse to
ask the customer for an alternate payment
method. For this reason, we suggest you
explore our
coverage map thoroughly to confirm that
wireless processing is a viable option in your
area. If not, please call our sales office
to explore other options: 1(800) 848-2192.
Return
to Index
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How do I know if I can get wireless coverage in
the areas where I do business?
Simple! Check out our
coverage map. You may search by zip
code, city, or state.
Return
to Index
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Does the Nurit 8000 GPRS wireless terminal have
"store forward" capability?
Yes. "Store forward" capability allows you
to swipe the card now, and run the transaction
(for approval) later. The danger, of
course, is that in the event of a declined
transaction, you have no recourse to ask the
customer for an alternate payment method.
When you receive your terminal, our staff will
train you over the phone how to operate all such
functionality associated with your Nurit 8000
GPRS wireless terminal.
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How long will the battery last?
The battery is designed to last (when fully
charged) for 400 transactions.
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Free Online Payment Gateway
& Virtual Terminal: Authorize.Net
-or- Plug'n Pay
What's the catch? Is it really free?
Yes, we give you the online payment gateway of
choice (Authorize.Net -or- Plug'n Pay) at no cost.
Note: there are 2 important requirements with
the free gateway license program. First, the processing
agreement has a 36 month term with a $295 early
termination penalty in year 1, and a $195 early
termination penalty in years 2 or 3.
Beyond the 36 month term, there is no
cancellation penalty. Second, a $25
monthly processing minimum is required.
This means we expect you to generate $25 per
month in processing fees from your Visa / MC
activity. Should you generate fees less
than $25 in a given month, we just ask you to
make up the difference so your month-end fees
are at least $25. If you'd prefer to have
a zero monthly minimum, we can arrange for that
by charging a $99 one-time gateway license fee.
The choice is yours.
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to Index
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What is an online payment gateway?
Authorize.Net and Plug'n Pay are 3rd party
online payment portals designed to transmit
payment data in a secure format over the
internet. They are designed to pass
transactions from all major credit cards and
even checks (with an additional add-on module)
in real time from your web site's shopping cart
to our payment clearing server. In
addition, these gateways include an online
virtual terminal which allows you, the merchant,
to enter transactions manually through a user
name & password protected portal dedicated to
just your business. In other words, you
can log on from any internet-enabled computer,
provide user name and password, and enter
transaction information manually, independent
from any real-time transactions that may occur
simultaneously from your web site's shopping
cart. You get the best of both worlds!
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What is a virtual terminal?
A virtual terminal allows you, the merchant, to
enter transactions manually through a user name
& password protected portal dedicated to just
your business. In other words, you can log
on from any internet-enabled computer, provide
user name and password, and enter transaction
information manually, independent from any
real-time transactions that may occur
simultaneously from your web site's shopping
cart.
Return
to Index
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Can I process checks through the online payment
gateway?
Yes. Both Authorize.Net and Plug'n Pay
have an add-on module for transmitting check
payment information. Please call our sales
office for more details.
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to Index
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Why would I want to use an Authorize.Net -or-
Plug'n Pay online payment gateway?
An online payment gateway is the ideal solution
for (1) merchants who conduct business
exclusively via the internet through a
commercial web site, (2) merchants with a store
front who also want to conduct business online
through a commercial web site, or (3) mail on
phone order merchants who want to enter
transactions manually from one or several
locations (i.e. using the virtual terminal).
Return
to Index
Return to Category
How soon will the money reach my bank account?
Funds from approved transactions are deposited
electronically (via ACH credit) directly into
your business checking account within 48 banking
hours.
Return
to Index
Return to Category
When and how do you collect the processing fees?
We collect processing fees at month's end
electronically (via ACH debit). You are
not billed directly, i.e. it is not possible to
pay your processing fees by mailing us a check.
A monthly statement will be mailed to your
business address which details your account
activity and discloses fully how we calculated
your processing fees.
Return
to Index
Return to Category
Are my rates guaranteed never to go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Visa, MasterCard, and all of the
other payment issuing companies (Amex, Discover,
Diner's, various debit networks, etc.). We
guarantee that we, Money Tree Merchant Services,
will never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract. Be
advised, however, that Visa and MasterCard
review their rate structures periodically
(usually every April and October). We have
no choice but to pass along the occasional
industry-wide rate increases stipulated by Visa,
MasterCard, or any of the other payment issuing
companies. With apologies, we have no
control over this.
Return
to Index
Return to Category
Offline Credit Card
Processing Software: PC Charge Pro
What is PC Charge Pro?
PC Charge Pro is a credit card processing
software application for PC. The software
is installed on a PC hard drive, much like any
Windows based software application.
Transaction approval is transmitted over the
phone line through an internal PC modem, or
through the internet via a DSL connection.
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How is offline processing different from online,
real-time
eCommerce?
Offline ransactions are entered by the merchant,
whereas as online, real-time eCommerce
transactions are usually entered by the
cardholder. Offline payment processing
solutions are ideal for the internet, mail, or
phone order merchant who receives payment
information by phone, fax, or email and who
needs time to prepare an order before finalizing
payment from the customer. Offline
transactions give the merchant supreme control
over the order fulfillment process.
Return
to Index
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Dial-up -or- DSL: which is better for me?
This is entirely your choice. For most
merchants, dial-up connectivity works just fine.
You can share a phone line with a fax machine or
with your business telephone line.
Transaction approvals over the phone line take
about 12 seconds, otherwise the phone line stays
open. DSL connectivity is the best option
for merchants who perform many transactions per
day or for whom the telephone is ringing off the
hook. With DSL, transactions are approved
in about 3 seconds, and the phone line is never
used. In both cases, you can rest assured
that your customers' transaction data is
transmitted in a secure format.
Return
to Index
Return to Category
Can I use PC Charge Pro in my store front for
swiped transactions?
Yes. In order to access swiped rates
(which are lower than keyed rates), you must
purchase a card swipe reader for your PC.
Please call our a sales office for details:
1(800) 848-2192.
Return
to Index
Return to Category
How soon will the money reach my bank account?
Funds from approved transactions are deposited
electronically (via ACH credit) directly into
your business checking account within 48 banking
hours.
Return
to Index
Return to Category
When and how do you collect the processing fees?
We collect processing fees at month's end
electronically (via ACH debit). You are
not billed directly, i.e. it is not possible to
pay your processing fees by mailing us a check.
A monthly statement will be mailed to your
business address which details your account
activity and discloses fully how we calculated
your processing fees.
Return
to Index
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Are my rates guaranteed never to go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Visa, MasterCard, and all of the
other payment issuing companies (Amex, Discover,
Diner's, various debit networks, etc.). We
guarantee that we, Money Tree Merchant Services,
will never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract. Be
advised, however, that Visa and MasterCard
review their rate structures periodically
(usually every April and October). We have
no choice but to pass along the occasional
industry-wide rate increases stipulated by Visa,
MasterCard, or any of the other payment issuing
companies. With apologies, we have no
control over this.
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Free Reprogram
What's the catch? Is it really a free?
Yes. There is no charge to reprogram your
existing equipment with our merchant account.
There is no application fee, no annual fee, no
surprises. Be sure to check with your
existing processor to be sure you won't be
charged a termination penalty for cancelling
service with them.
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What is a reprogram?
A reprogram is the act of switching merchant
account service from your existing provider to
Money Tree Merchant Services. You keep the
same equipment, but you get better rates and
better service by switching to us! We
literally replace the old with the new by
reprogramming your equipment to communicate with
our host.
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How does a reprogram work?
First, you apply for a merchant account by
contacting our sales department: 1(800) 848-2192. Once your merchant account is
approved, we will build a download file specific
to your business and credit card terminal type.
Next, we'll contact you to perform the download
over the phone line, a process which takes on 5
to 10 minutes. That's it! Once the
reprogram is accomplished, your transactions
will be handled by our host, and the money will
be routed into your business checking account.
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When should I cancel with my current processor?
Never cancel with your current processor until
the reprogram has been completed, your are
performing transactions successfully using our
download information, and you have verified that
money is reaching your bank account.
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How do I cancel service with my current
processor?
Usually you just need to fax a signed letter
requesting termination. For specific
instructions, call the customer service
department of your current processor.
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Will my current processor charge me a
termination penalty?
Possibly. Be sure to contact the customer
service department of your current processor to
inquire about possible early termination
penalties.
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How do I know if you can reprogram my existing
equipment?
Call or email our sales department: 1(800) 848-2192. We can reprogram almost all
types of equipment, but it's always good to
check first. If it turns out we can't, why
not take advantage of our free equipment?
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Will I still get customer service if you
reprogram my equipment?
Yes. You'll have access to 24/7 customer
support.
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I have a lease on my existing equipment.
Will I still have to pay the lease?
Yes. Leases are financial obligations
between the lessee (the merchant) and lessor
(the leasing company). Your new
relationship with us will have no affect on the
terms of your lease agreement.
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How soon will the money reach my bank account?
Funds from approved transactions are deposited
electronically (via ACH credit) directly into
your business checking account within 48 banking
hours.
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When and how do you collect the processing fees?
We collect processing fees at month's end
electronically (via ACH debit). You are
not billed directly, i.e. it is not possible to
pay your processing fees by mailing us a check.
A monthly statement will be mailed to your
business address which details your account
activity and discloses fully how we calculated
your processing fees.
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Are my rates guaranteed never to go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Visa, MasterCard, and all of the
other payment issuing companies (Amex, Discover,
Diner's, various debit networks, etc.). We
guarantee that we, Money Tree Merchant Services,
will never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract. Be
advised, however, that Visa and MasterCard
review their rate structures periodically
(usually every April and October). We have
no choice but to pass along the occasional
industry-wide rate increases stipulated by Visa,
MasterCard, or any of the other payment issuing
companies. With apologies, we have no
control over this.
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Gift & Loyalty
Card Program
Do I need a special equipment to run the gift
& loyalty card program?
Yes, in a way. In order to run the gift
card & loyalty card program, you must have a
credit card terminal and printer, and the
terminal must have enough memory to support the
program. Please call our sales office to
verify if your current equipment will work:
1(800) 848-2192.
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How much does it cost to get started?
The JumpStart Program costs you nothing to get
started. Other plans are available as well
for a minimal up-front investment.
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Can I sign up for only the gift
card program (i.e. no credit cards, no checks)?
Yes, but only as a reprogram of existing
equipment. If your existing terminal has
enough memory, we can install our gift card
program as a stand-alone program. Your
existing merchant account will be unaffected.
We encourage you, however, to give us a try to
lower your rates so you can process all of your
transactions with us!
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Merchant
Account Agreement: Terms & Conditions
Is there a contract term / early termination
penalty?
The merchant account processing agreement has a
36 month term with a $295 early termination
penalty in year 1, and a $195 early termination
penalty in years 2 or 3. Beyond the 36
month term, there is no cancellation penalty.
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Is the monthly processing minimum required?
Yes and no. For the free placement
of any payment processing equipment, a $25
monthly processing minimum is required.
This is true for the free placement
of the Hypercom T4100, MagTek MICRImage check
imager, Nurit 8000 GPRS wireless terminal, and
the Authorize.Net -or- Plug'n Pay online
gateways. Under special circumstances, and
only if you purchase the payment processing
equipment, we may consider waiving the monthly
minimum.
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What if I don't want a monthly statement mailed
to me? Can you waive the statement fee?
Sorry, no. This is not possible.
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Are my rates guaranteed by the contract never to
go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Visa, MasterCard, and all of the
other payment issuing companies (Amex, Discover,
Diner's, various debit networks, etc.). We
guarantee that we, Money Tree Merchant Services,
will never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract. Be
advised, however, that Visa and MasterCard
review their rate structures periodically
(usually every April and October). We have
no choice but to pass along the occasional
industry-wide rate increases stipulated by Visa,
MasterCard, or any of the other payment issuing
companies. With apologies, we have no
control over this.
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Do I need to open a business checking
account?
Yes. Your bank account needs to be a
business checking account opened in the name of
your business, i.e. the same business name that
appears on your legal entity formation papers,
your DBA business license, or your fictitious
name filing document. Ideally, the checks
should be imprinted with the name of your
business, business address, and business phone
number. Personal checks are not acceptable
for the purposes of a merchant account.
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What if I'm not the owner of the business?
Can I still apply?
Sorry, no. Only a legal owner or partner
(or officer) of a business may apply for a
merchant account. Applicant must be at
least 50% owner.
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Do you really need my personal information (SSN,
home address, phone number, etc.)?
Yes, this is absolutely necessary. Rest
assured, we hold your personal information in
the strictest confidence. We do not market
your information (personal, business, financial,
or otherwise) to any 3rd parties.
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Can you waive the personal guarantee
requirement?
Sorry, no. However, for corporations which
can provide at least 2 years business financials
(prepared by an accountant) or 2 years tax
returns showing sufficient liquidity, we may
accept this as a substitute for the personal
guarantee.
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Merchant Account Schedule of Fees: explanations
Discount Rate Schedule: qualified,
mid-qualified, non-qualified
The discount rate is the (%) of the transaction
amount you are charged in fees to submit payment
via Visa or Mastercard. AMEX, Discover,
and Global Check have their own discount rate
schedules which operate a little bit differently
-- please consult these schedules. For Visa
and Mastercard, the qualified, mid-qualified,
non-qualified designations work as follows: (1)
qualified = rate charged for swiped
transactions, or the lowest rate for
internet/mail/phone order keyed transactions;
(2) mid-qualified = rate charged for Visa or
MasterCard rewards cards, or the rate charge
when a transaction is keyed through a swiped
(retail) account; (3) non-qualified = rate
charged for Visa or Mastercard corporate cards.
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Industry Type -or- Card Type: Retail
This designation indicates the merchant account
is set up to receive primarily (>90%)
transactions which are swiped, i.e. conducted
face to face with cardholder.
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Industry Type -or- Card Type: MO/TO/Internet
This designation indicates the merchant account
is set up to receive primarily (>50%)
transactions which are keyed or entered
manually, i.e. conducted with the cardholder not
present at the point of sale.
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Funds availability: 2 day -vs- 5 day
The normal time to receive funds is 48 banking
hours. If your credit is marginal and
you'd like to submit an internet merchant
account application, you may select 5 day
funding (5 banking days not including weekends)
fro auto approval.
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Network Communication Fees: All Card Types,
Visa/MC, AMEX/Discover/Diner's
Visa and Mastercard have divided their
transaction fee into two separate items: the
"network communication" fee and the "per
occurrence" fee (see below). The network
communication fee will apply to all card types
transmitted through the merchant account
(including AMEX and Discover).
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Per Occurrence: Visa Credit / MC Credit
In addition to the network communication fee
(above), Visa and MasterCard credit cards will
be charged this item per occurrence.
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Per Occurrence: Visa Debit / MC Debit
In addition to the network communication fee
(above), Visa and MasterCard debit cards will be
charged this item per occurrence. This
applies to Visa & Mastercard checkcards when
swiped and processed without customer pin
number entry.
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Per Occurrence: Wireless
When using a wireless terminal (i.e. the Nurit
8000 GPRS), a separate wireless subscription
service applies. The wireless per
occurrence fee, in addition to the monthly
wireless service fee (see below), constitute the
total wireless subscription amount.
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Per Occurrence: EBT
Applies only to "electronic benefits
transactions." This is normally understood
to be electronic food stamps, and is typical
mainly for grocery stores.
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Per Occurrence: Voice Authorization
This rare fee occurs only when the merchant must
secure transaction approval by calling our toll
free voice authorization line. One would
do this only in the rare case when the credit
card terminal is malfunctioning.
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Per Occurrence: Voice AVS
This rare fee occurs only when the merchant must
secure address verification by calling our toll
free voice AVS line. Address verification
is a procedure used in conjunction with
internet, mail, and phone order accounts.
One would do this only in the rare case when the
point of sale device is malfunctioning.
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Per Occurrence: Retrieval Request Rec'd
In the event of a chargeback (i.e. customer
disputes a charge by calling his credit card
company and requesting a reversal of the
charge), the necessary paperwork required to
defeat the chargeback request must be filed.
The retrieval request fee covers administrative
costs associated with this procedure.
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Per Occurrence: Chargeback Fee
Should you encounter a chargeback from a
customer and ultimately lose the dispute, this
fee applies.
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Per Occurrence: ACH Reject / NSF Fee
Should we attempt unsuccessfully to put
money into your bank account, or should we
attempt unsuccessfully to take money out
of your bank account (fees, etc.) because of NSF
status, this penalty applies. In a
nutshell: if you change your bank account, be
sure to let us know by faxing a new voided check
to customer support. Also, make sure your
bank account is liquid enough to cover monthly
fees associated with the merchant account.
Using Global Access Advantage, our online
account monitoring tool, will help you manage
your account most effectively.
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Per Occurrence: ACH Change Fee
This fee applies if you want to change your bank
routing information. If you change your
bank account, be sure to let us know by faxing a
new voided check to customer support.
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Per Occurrence: Batch Deposit Fee
A batch deposit is a procedure that sends
payment transactions for any given day to our
host for clearing. This is the procedure
that initiates the transfer of money from
customer to merchant. Batch deposits send
an aggregate of transactions as a group, so the
fee applies only once per day, not once for each
transaction.
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Monthly: Gateway Fee
This fee applies for online payment gateways
only, i.e. for Authorize.Net or for Plug'n Pay.
This is in addition to any other merchant
account fees.
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Monthly: Min. Discount Fee
This is the amount of processing fees we expect
a merchant account to generate in a month.
This is calculated from Visa/MC activity only,
taking the sum of discount rate + network
communication fee + per occurrence fee.
For a $25 monthly processing minimum, this
usually corresponds to about $1,000 to $1,200
worth of business in a month, depending on
average ticket size. Should you ever have
a slow month and not generate $25 in processing
fees, we'll just ask you to make up the
difference so the total fees = $25. In
other words, it's not an extra fee, it is a
processing threshold to be met.
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Monthly: Statement Fee
This is a customer service fee that covers the
paper statement that we mail to you, the 24/7
Help Desk, etc.
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Monthly: Wireless Service
When using a wireless terminal (i.e. the Nurit
8000 GPRS), a separate wireless subscription
service applies. The wireless monthly fee,
in addition to the wireless per occurrence fee
(see above), constitute the total wireless
subscription amount.
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Monthly: Debit Service Fee
This is a monthly fee charged for access to the
debit networks.
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Debit Network Acquirer Fees (Accel, AFFN, ...,
etc.)
These debit network acquirer fees, in addition
to the debit transaction fee (see below), are
the fees charged for pin entry debit
transactions. In other words, when you run
a Visa or Mastercard checkcard (or a bank ATM
teller card) as a debit card with customer pin
entry, you pay ZERO % plus these fees.
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Debit Transaction Fee
This debit transaction fee, in addition to the
debit network acquirer fees (see above), is a
fee charged for pin entry debit transactions.
In other words, when you run a Visa or
Mastercard checkcard (or a bank ATM teller card)
as a debit card with customer pin entry, you pay
ZERO % plus these fees.
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Annual Fee
This is an annual account maintenance fee.
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Annual Fee Charge Month
This is the month in which the annual fee is
charged, if at all.
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Check
Processing Agreement: Terms & Conditions
Electronic Check Conversion: what
is it?
With electronic check conversion, each
check transaction is converted to an electronic
transaction. The check imager records
an actual digital image of the check which can
be stored and retrieved later. The net
result is this: you never have to deposit checks
at the bank in order to receive payment, and you
never have to retrieve manually a copy of an
original check in order to initiate collections
on a bounced check. The Electronic Check
system works as follows. First, a customer
will write you a personal check for payment of
goods and/or services. You, the merchant,
will scan the check through your MagTek MICRImage
check imager. Once complete, your Hypercom
T4100 terminal will prompt you for pertinent
information (transaction amount, etc.), and will
print a dual copy receipt (one for you, one for
the customer to sign). You will have the
customer sign your copy, and you'll return both
the check and the receipt copy to the customer.
At the end of the day, you will transmit the
batch of check transactions electronically in
order to route the funds -- just like credit
cards! The normal time to receive funding
for approved and cleared check transactions is 7
business days.
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Is there a contract term / early termination
penalty?
The contract term is for 1 year with no express
termination penalty. However, because the
check processing schedule of fees indicates a
$10 monthly statement fee and a $10 monthly
check processing minimum, you would be
responsible for $20 monthly for the remainder of
any year's term in which you stopped processing
checks. There is also a required 30 written
notice of cancellation, so be sure to give
advance notice of cancellation or a new 1 year
term would begin automatically.
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Is the monthly minimum required?
Yes.
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What if I don't want a monthly statement mailed
to me? Can you waive the statement fee?
Sorry, no.
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Are my check processing rates guaranteed by the contract never to
go up?
The straight answer is this: yes and no.
Your processing rates are determined,
ultimately, by Global Check. We guarantee
that we, Money Tree Merchant Services, will
never arbitrarily raise your rates out of a
self-serving profit motive. We don't play
"bait and switch" games with rates, i.e. we
won't sign you up under one rate structure and
then raise your rates 1 month later because
we've locked you into a contract.
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Do I need to open a business checking
account?
Yes. Your bank account needs to be a
business checking account opened in the name of
your business, i.e. the same business name that
appears on your legal entity formation papers,
your DBA business license, or your fictitious
name filing document. Ideally, the checks
should be imprinted with the name of your
business, business address, and business phone
number. Personal checks are not acceptable
for the purposes of your check processing
account.
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What if I'm not the owner of the business?
Can I still apply?
Sorry, no. Only a legal owner or partner
(or officer) of a business may apply for a
merchant account. Applicant must be at
least 50% owner.
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Do you really need my personal information (SSN,
home address, phone number, etc.)?
Yes, this is absolutely necessary. Rest
assured, we hold your personal information in
the strictest confidence. We do not market
your information (personal, business, financial,
or otherwise) to any 3rd parties.
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Can you waive the personal guarantee
requirement?
Sorry, no. However, for corporations
which can provide at least 2 years business
financials (prepared by an accountant) or 2
years tax returns showing sufficient liquidity,
we may accept this as a substitute for the
personal guarantee.
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Check Processing Fees: explanations
Electronic Check Conversion
Electronic check conversion pricing includes the
guarantee.
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Discount Rate
The discount rate is the (%) of the check amount
you are charged in fees to submit payment via
electronic conversion and to have the deposit
backed by a guarantee of funds.
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Transaction Fee
The transaction fee is the ($) amount your are
charged per check to submit payment via
electronic conversion and to have the deposit
backed by a guarantee of funds.
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Monthly Service Fee
This is a customer service fee that covers the
paper statement that we mail to you, the 24/7
Help Desk, etc.
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Monthly Minimum
This is the amount of processing fees we expect
a check processing account to generate in a
month. This is calculated from the sum of
discount rate + transaction fee. For a $10
monthly processing minimum, this usually
corresponds to about $500 to $600 worth of
business in a month, depending on average ticket
size. Should you ever have a slow month
and not generate $10 in processing fees, we'll
just ask you to make up the difference so the
total fees = $10. In other words, it's not
an extra fee, it is a check processing threshold
to be met.
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Guarantee Limit
The guarantee limit is the largest check amount
that we can guarantee. Note: should you
accept a check larger than this amount, we will
still guarantee the first $5,000.
Furthermore, if a check of more than $5,000 must
go to collections, we will reimburse you the
full amount collected (not just the first
$5,000). Note: it is not possible to
accept multiple checks for the same transaction
in order to keep the face value of each check
below the guarantee limit. One check per
transaction!
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Stop Payment Coverage
Stop payment coverage lets the guarantee stand
even in the event that the customer has
deliberately requested a stop payment on the
check from their bank. It is important to
note that if stop payment coverage is not
selected, such checks will not be honored with
guarantee service.
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Application & Deployment Process
How do I apply?
The best way to apply for a merchant account is
to call our sales office: 1(800) 848-2192.
With our help, the application process can be
completed in about 10 minutes. In that
time we'll conduct a brief interview in which
we'll ask you for some business, personal and
banking information to complete the paperwork on
your behalf. Then we'll email or fax you
the completed application which you will print,
sign, and fax back to us with some minimal
supporting documentation (copy of voided check,
copy of a business license). That's it!
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How long will it take for me to get set up?
Once we receive by fax your signed application
and supporting documentation, your account
should be approved in 1 or 2 days, and we'll
ship your free equipment (if applicable) via Fed
Ex 2nd day delivery. For reprograms, we'll
email you the pertinent download information.
Finally, our deployment staff will contact you
directly to train you how to use your new
equipment and/or perform a download. The
whole process takes 4 to 5 business days.
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Do I need to mail in the application once I sign
it?
No. We prefer to receive application
submissions by fax.
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What additional documentation is required?
Copy of a voided check imprinted with business
name, copy of a business license. For
reprograms we also need the most recent Visa/MC
processing statement (all pages) from your
current processor. If your business checks
are not imprinted with business name (i.e. they
are starter checks), we'll need a
bank account verification letter from your
bank on bank letterhead.
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What is a bank account verification letter?
A bank account verification letter is written
notice from your bank on bank letterhead that
your business checking account exists, that you
are an authorized signer on the account, and
that the account is in good standing. View
sample bank account verification letter.
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Will you train me how to use the equipment?
Yes. Our deployment staff will contact you
directly to train you how to use your new
equipment and/or perform a download.
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Do I have ongoing access to customer support?
Yes. We will provide you with toll free
access to our 24/7 Help Desk. Furthermore,
you will have free 24/7 access to online
transaction information via Global Access
Advantage.
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