| Q: |
Is your program designed for law firms that use Trust Accounts? |
| A: |
Monies collected from a client for retained services are deposited into the law firm’s trust account while the merchant account fees are debited from the law firm’s operating account. |
| Q: |
How does your program compare to what my local bank or other
Merchant Account providers may offer? |
| A: |
The P.A.D. Merchant Account Program has a low discounted group rate and no monthly minimums. Because Access Group Processing (AGP) works primarily with very large groups and organizations with thousands of members, we are able to work off very small margins and waive monthly minimum fees that banks cannot afford to do on individual merchant account. Additionally, most credit card programs do not offer a Trust Account compliant merchant account that can debit and credit multiple bank accounts. |
| Q: |
How much can I expect to save with the P.A.D. program? |
| A: |
The overall resulting processing costs with the
P.A.D. program are typically 1/3 less than other provider’s
programs. It is also not uncommon for members to save as much as 50%. |
| Q: |
Does the amount of processing I do affect the rate I receive? |
| A: |
No, even if you have a very small credit-card
volume, you still get the special P.A.D. Group Rate that is
already discounted for the massive, collective association and trade group processing
volume. |
| Q: |
Are there monthly minimums with the discounted P.A.D. merchant account
program or electronic check service (ACH)? |
| A: |
No, there are no monthly minimums associated with the group
discounted P.A.D. merchant account program or the electronic
check service (ACH). |
| Q: |
How are the processing fees assessed? |
| A: |
All credits and debits with respect to processing fees are assessed at the end of each month. |
| Q: |
How can I keep track of the fees I am paying monthly and how
can I reconcile my merchant account activity with my checking
account? |
| A: |
You have access to online reports and statements. |
| Q: |
What credit-cards can I accept through the program? |
| A: |
You can accept any of the major credit-cards
including, but not limited to: Visa, MasterCard, Discover and American
Express. However, the transaction rates
and transaction fees for American Express are ultimately established by American Express. |
| Q: |
Can I start out accepting Visa, MasterCard, and Discover only
and add other cards at a later date? |
| A: |
Absolutely, but keep in mind it may take a day or two to set up additional cards. We set up all new clients with
Visa, MasterCard, and Discover. |
| Q: |
Are there any requirements for me to participate in the program? |
| A: |
The only requirement for participation is that
you must be a verfied member of P.A.D.. |
| Q: |
How long does it take to get a merchant account and start
accepting credit-cards from my customers? |
| A: |
It usually only takes a total of 2 to 3 business
days from the time we receive your completed faxed or online
application until you can begin accepting credit-cards. |
| Q: |
How long does it take for me to receive the funds after performing
a transaction? |
| A: |
Visa, MasterCard and Discover funds are typically
electronically deposited into your checking account within
24-48 hours. American Express can be up to 72 hours. |
| Q: |
What are my up-front costs to establish a merchant account? |
| A: |
There are never any application fees for establishing a merchant account. However, there may be an upfront additional cost associated with the specific processing solution you choose to use. For example: there is a $99 annual fee paid upfront at the beginning of each year for the Virtual Terminal/eCommerce gateways. Also, for those members that need to conduct face-to-face credit-card sales there are numerous "swipe" terminals and wireless devices available for purchase. |
| Q: |
I already have a credit-card terminal. Can I use it
and not have to buy anything? |
| A: |
Most terminals are compatible and can be reprogrammed.
If you provide the make and model, we can confirm its compatibility.
If compatible, you would not need to purchase any additional
processing solutions. The only cost you would incur
is a one-time $50.00 charge for reprogramming your terminal. |
| Q: |
I have been told by my current provider that my existing credit-card terminal is not compliant and I need to purchase a new
one. Would this be the same case with you? |
| A: |
In most cases, your terminal can be reprogrammed
to meet current processing requirements. There are some
older terminals that do not meet current PCI guidelines and
will need to be upgraded. Unfortunately, current PCI
compliance issues are sometimes used as a means for providers
to sell additional, unnecessary, expensive equipment.
Call one of the knowledgeable AGP sales representatives to
find out if your device is still reprogrammable. |
| Q: |
I have never accepted credit-cards before. Which is
the best processing option for me? |
| A: |
Since many P.A.D. members will not have the credit-card present when processing a transaction the typical "swipe" terminal you find in retial store may not the best processing option for the typical P.A.D. member. Since many of your transactions will be key entered instead of "swiped", a web-based processing solution maybe the most practical solution. The Internet based processing solution is called a Virtual Terminal/eCommerce Gateway. The Virtual Terminal/Gateway allows you to process from any computer that has Internet access and includes a built-in ability to process website eCommerce sales in real-time. Additionally, the Virtual Terminal/Gateway can also be configured to send an e-mail credit-card receipt. Call one of the knowledgeable AGP sales representatives to find out the most economical and efficient processing method for your organization. |
