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 3.99%. 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
The merchant then checks eligibility of the customer or order. If OK, settles
the transaction. Authorisation code from before is then used to take money or
abandon order. This can be done manually through the CMS, via an API or as a
combination of API/manual [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]
Once
each week, all sales that are at least 5 business days old are paid. The cutoff
point is 4:00am British Time. Sales posted before this time on Monday will be
paid the following Monday, i.e. 5 business days later. [Close]
Well, with the Premier Account we
consider ALL businesses (except for those that are on
the prohibited business list) and financial circumstances
in all Pan European countries. Prices
and rates are non negotiable so please do not ask us
to make an exception
Please note that 'Supported Countries' is the country
the merchant has to be incorporated in, NOT the country
they can sell too. The merchant can sell to any country
they wish!
Due to strict money laundering rules,
the bank account you wish to use with the merchant facility
(the account we pay monies into) must be in the same
country as your company is incorporated. There are
unfortunately no exceptions
Application Fee 
