Frequently Asked Questions About Merchant Accounts
How can I apply and how long will it take?
For the standard real-time applications, you will fill out the application worksheet, and upon completion, pay the $99 application fee online. Next, we will contact you and mail the original applications to you.
This application can be completed online, and then faxed or mailed back, we do not need to receive the originals. Once we receive the signed paperwork, you will be set up in 3-14 business days, depending on the complexity of the application.
Authorize.Net "Special" is $99 complete, and is reserved for those businesses or individuals with good credit and acceptable business type only.
Is my application fee refundable?
Your application fee, and any up front costs are not refundable in the rare case you are declined. If you initiate an application that requires a fee or payment and decide you no longer wish to continue with the process, refunds of application fees will not be available.
If you apply, please be certain you wish to proceed and open a merchant account. We will not accept your application if your business type is not acceptable.
Is poor credit, or new business status a problem?
Not necessarily. The Authorize.Net "Special" account is reserved only for those individuals and businesses that have "good" credit, however, new business status will not disqualify you.
What about leasing options?
There is no lease to sign! We give you the Authorize.net virutal terminal with your account setup and don't charge any lease fees.
What about customer service?
Customer Service is available 24 hours a day / 7 days a week, at no charge. We are available for assistance, voice authorization, security, or to provide you with statement or account information.
Can I get a merchant account through my local bank?
If you own a retail business with a physical location where you see customers face to face, swipe the card and get an original signature for each transaction, you should be able to get a merchant account with your bank. Most banks will not issue a merchant account to Internet or phone order businesses. Because we specialize in Internet and mail order, we can not only offer you a lower rate, but we can approve almost every business type.
What information do customers provide for an order to be processed correctly?
Customers need only to provide name, address, credit card number, and expiration date. You can also gather as much additional information as you require, such as phone number, shipping address, CVV2 or order information.
What company name will appear on my customers' billing statement?
Unlike third-party processors, your company name and telephone number will appear on your customer's billing statement. Should your customers have any questions, they will call you directly.
How can my customers track transactions?
The transaction appears on the customer's monthly credit card or check card statement with your company name and phone number. An email notification is also sent to the customer with complete order details, serving as a receipt.
What is address verification (AVS)?
The Authorize.Net Virtual Terminal has a fully integrated Address Verification System (AVS). This helps protect you from fraudulent credit card acceptance. You can "grade" transactions based on the degree of match between address data at the cardholder's bank and the data provided by a purchaser.
What does the discount rate mean?
The discount rate is the percentage of each transaction that the processing company (MasterCard, Visa, American Express, or Discover) charges to handle the transaction for you. Our discount rates are extremely competitive. Please note, Discover and American Express will have different rates than the posted MC/VI rates.
What are all of the charges?
Discount Rate for MasterCard and Visa is 2.29% of the total transaction. This is for the transfer of the funds and will apply to a sale or a refund - regardless of the direction of the transfer, the MasterCard and Visa rate will be 2.29%.
Transaction Fee 30¢—this fee is charged for every transaction and is a flat rate of thirty cents.
Monthly Statement Fee $10—this is billed and deducted from your checking account each month that your account is open. This fee covers printing, processing and mailing a statement of transactions each month. This fee also includes 24/7 toll free customer service, voice authorization and assistance with your account.
Gateway Fee $10—this fee is for constant access to the Virtual Terminal [Authorize.Net] and use of the secure server and transaction gateway.
Monthly Minimum $25—this is the minimum amount of charges your account will assess in one month. If for some reason, your fees only came to $24 in a billing cycle, an extra $1 fee would be assessed to make up the minimum of $25.
How quickly do I get paid?
After closing your daily "batch", or when all transactions have been sent to the bank for the day, you can expect your funds to be available for withdrawal about 48 hours later in most cases with the retail and mail order / telephone order accounts. Real-time accounts may have different terms, depending on the offer. Most accounts are settled within 120 hours (5 business days) although funds are secured and guaranteed immediately. 48 hour settlement is available for real-time accounts upon request pending account review.
Does this system include a shopping cart?
No. This system does not include a shopping cart. However our systems are compatible with virtually any shopping cart program on the market. You should also first consider if you really need a shopping cart. If you are just selling one or two products on your website, a standard order form will work fine. Shopping carts are primarily used for sites that sell numerous products. If you need a cart that works with Authorize.Net, we offer InstantCart for $10 / month or ShopSite for $59 to $129 per month, or simply use your own system.
Do I need to be in the U.S.A.?
Yes. If you are outside the US, please click here.
| SIC Code | Business Type |
| 4511 | Air Carriers/Travel |
| 7941 | Athletic Clubs |
| 7995 | Betting/Lottery/Gambling |
| 0000 | Computer Hardware/Electronics |
| 8398 | Charity/Social Services |
| 4411 | Cruise Lines |
| 7273 | Dating/Escort Services |
| 7322 | Debt Collection Agencies |
| 5968 | Direct Mkt-Subscription |
| 3000-3299 | Major Airlines |
| 7997 | Membership Clubs (sports) |
| 8699 | Membership Orgzn. - Prepaid |
| 5966 | Outbound Telemarketing |
| 4723 | Package Tour Operators |
| 8651 | Political Organizations |
| 7922 | Theatrical Producers |
| 7012 | Timeshares |
| 0000 | Phone Co./Phone Cards |
| 4722 | Travel Agencies |
| 4829 | Wire Xfer Bus./Pre-Paid Cards |
