A
Gateway fee is applied by the transaction processor to cover the costs
of receiving and processing the transaction. [Close]
Credit
cards charge a percentage of the sale for use and this amount is referred to
as a transaction charge. [Close]
Instead
of a percentage rate, a Debit card transaction is charged at a flat rate
fee. [Close]
A
chargeback is a reversal of a sales transaction by the customer's credit
card issuer. For more information on chargebacks please
click here
[Close]
The
rolling reserve holds five percent (5%) of total
approved gross transactions, over the previous six month period. Following the
seventh month of operation (and every month thereafter) the reserves generated
from the first month of operation (and every month thereafter) will be forwarded
to the merchant of each sale for a specified period, after which time it is
paid to you.
The purpose of the reserve is to pay for any chargebacks which may occur against
your account [Close]
A
percentage of each sale is payable as a transaction fee [Close]
This
is the country that the merchant has to be incorporated in, NOT the country
they can sell too. The merchant can sell to any country they wish! [Close]
Instead
of charging a fixed transaction fee of say 50p for debit card transactions,
we charge 5.40%. This means all cards are charged identically. [Close]
Three
base currencies (UK Pound, Euro, and US Dollar) are available for FREE. Up to
12 additional currencies are available at a charge of £20 per currency
per month. [Close]
This
list does not constitute any recommendation by Web Merchant Services, nor is
this list definitive. For further information please refer direct to the vendor.
When searching shopping carts integrated with the Optimal Account you may need
to see if they support FirePay. FirePay is essentially a legacy name - former
brand names of Optimal Payments [Close]
We
do not set a minimum or maximum order value. You can take orders in a single
transaction from £0.01 upwards.
Please note however that items and services with a very high order value can
be deemed high-risk and therefore may be given different terms to advertised.
For this reason, when asked on the application what monthly turnover you expect,
please do not exaggerate as this can hinder the application, if not reject it.
[Close]
Remittances
(money paid to you) are made by weekly Wire and a fee of £15 is charged
per Wire. To soften the blow, we can extend the interval between payments if
you would like to reduce costs, for instance, we could remit every 2 weeks,
so that would mean £30 rather than £60 or even once a month which
would reduce the cost to £15 [Close]
Minimum
Remittance Amount is the minimum limit before a Wire transfer is made.
[Close]
Merchant
takes payment details over website or telephone. Completes authorisation request.
Receives authorisation code. This authorises card & reserves funds but doesn't
take them
This can be done via the VPOS, or can be integrated using our web-services API
[Close]
Business
listed? How about our Optimal or World Account? [Close]
Remittances
(money paid to you) are made by weekly Wire and a fee of £15 is charged
per Wire. To soften the blow, we can extend the interval between payments if
you would like to reduce costs, for instance, we could remit every 2 weeks,
so that would mean £30 rather than £60 or even once a month which
would reduce the cost to £15. [Close]
The
Account set-up fee is the amount payable once your site goes
live! If, for whatever reason, you are not offered an account you will not have
anything to pay [Close]
Unlike
many companies, we do not charge an application fee. This means
it costs nothing, apart from a little of your time, to apply for one of our
merchant accounts [Close]
We
never convert currencies. For example, for a USD merchant account, we collect
USD from the cardholder and pay USD to you. If you don’t bank in USD,
then your bank will convert the funds to GBP upon receipt at their own conversion
rate [Close]
Due
to the bank that we use for the Premier Account we are unable to supply integration
manuals to view. However they will be provided after the application [Close]
We
are recently experiencing with the bank we use for the Premier Account that
they are not fond of Sole Traders as they're not registered
at an official body.
If you are a sole trader or an individual, the only way we can place you is
with good security, otherwise we can only provide a 30 day delayed payment with
a weekly settlement. [Close]
Depending
on your business depends on the annual fee. This is either £85 (98 EUR)
or £858 (950 EUR). A
company classed as low-risk would be £85 while a high-risk company would
be on £858. We will inform you of the annual fee following a full assessment.
Please note that due
to certain 'Adult' businesses e.g downloadable videos
and photos (NOT physical hard goods), needing a
different kind of merchant account, they are subject
to additional “High Risk Registration Fees”
from VISA ($500 per year) and MasterCard ($1000
per year). We would like to make it clear that this
is not an extra charge incurred by us.
Please note that 'Supported Countries' is the
country the merchant has to be incorporated in,
NOT the country they can sell too. Even though
you can sell to pretty much any country you wish,
there are specific countries from which we and
the bank do not allow transactions. For a list
of countries please
click here
Prices include VAT and are non negotiable so
please do not ask us to make an exception.
* We will drop your transaction fee down from the initial
5.4% to 4.4% after the 1st anniversary of opening and
running your account, as long as you reach at least 75%
of your estimated turnover (as stated on your application).
If you do not manage to reach this volume
your transaction fee will stay at 5.4%.
We class the anniversary as 12 months after
your activation date. For example if you applied on the
1st July 2009 and your account went live (activated) on
the 14th July 2009, your percentage would drop on or after
the 14th July 2009.
Please note that it can take up to 28 days
for the change to take effect.
Application Fee
