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Premier Account FAQ's
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How much does the Premier Account cost?
The cost of this service is minimal. There are no upfront
deposits, no minimum monthly volumes to maintain, and
no extra processing fees to pay to the bank. You simply
pay setup and monthly fees, then a small fee for processing
each of your transactions.
For more detailed information and compare the Premier
Account with the Optimal and World Accounts please
click here

How do I get paid?
By providing your payment information, you permit funds
owing from your merchant account to be automatically
deposited, be electric funds transfer, into the bank
account that you specify
When do I get paid?
Payment is issued weekly, 14 days in arrears - please
see below for more information.
How does the settlement period work and when do I get
paid?
As mentioned in your contract, you will receive settlements
(outpayments by the acquirer to your bank account) on
a weekly basis. These settlements will be wired every
Thursday. Please note that it can take a few days before
international wires are credited to your account. Each
following Monday you will receive a “Reconciliation
Statement” via email, informing you about the
total sum that is wired to your bank account. The acquirer
automatically deducts the discount fee (and if applicable,
any chargeback and/or refund fees) from your total transaction
amount. All other fees will be separately invoiced by
us. More information about the Reconciliation Statement
will be provided once you have applied.
Besides receiving a reconciliation statement, you will
also receive a CSV file which specifies all individual
transactions. Information about the CSV file can be
found in the attached documentation. More specific transaction
data can be found in the Payvision Reporter, as mentioned
above.

Can I use my existing merchant account with this service?
No. The Premier Account unlike the World Account is
an integrated merchant account service. In addition
to the processing of transactions, the credit card processing
tracks information to automatically record credit card
payments and credit card expenses. This means it is
designed to connect exclusively to merchant accounts
issued by ourselves

Can
I use the VPOS system without a website?
Yes. If you don't have a web site we can activate your
Merchant Account for your 'traditional' business, so
you can start taking credit card payments directly from
customers or by phone, fax, mail-order etc.
For more information please visit
here

Providing false details and business descriptions
A number of businesses try to apply using false details
and/or business descriptions e.g selling DVD's but in
fact selling medication. As you can imagine this wastes
alot of time for all parties involved, most importantly
us. This practice is illegal and is
classed under UK law as 'trying to acquire products
or services under false pretenses'.
For this reason, anyone caught doing so will not only
have their business details past over to the appropriate
authorities, but will also be charged a £150
+ VAT Fee
Any company who changes their business model must inform
us as soon as possible, otherwise their account could
be closed with immediate effect and no refund given

What is a transaction fee?
Bank card issuing associations charge a percentage
of the sale for the use of their cards and this amount
is referred to as a transaction fee. The percentage
paid by the merchant may vary depending on the monthly
sales volume, the average sale size and whether a transaction
is processed with or without the card being physically
present.
The Premier Account offers a competitive transaction
fee of only 4.40%. In addition, there are no upfront
deposits and no minimum monthly volume requirement
What is a gateway fee?
A gateway fee is applied by the transaction processor
to cover the costs of receiving and processing the transaction.
While a transaction fee is a contribution for the convenience
of accepting credit card payments, a gateway fee pays
for the use of the infrastructure to receive payment
information, request authorisation from the customers
bank, transmit the authorisation information to the
merchant and to facilitate payment of the merchant.

What is a charge back?
A chargeback is a reversal of a sales transaction by
the customer's credit card issuer. Chargebacks most
often occur when a cardholder disputes a transaction
and you, the merchant, cannot provide adequate proof
that the transaction made to a cardholder's account
is valid. A chargeback can also result from processing
errors, authorisation issues, and/or any other transaction
irregularities.
When a purchase is charged back to the merchant, a
£20.00 fee and any fees charged by the customer's
credit card issuer will be deducted from your account
in addition to the value of the sale.

How can I avoid a chargeback?
It may not be possible to prevent all chargebacks.
However, the Premier Account has attempted to reduce
the number of chargebacks. First, the merchant's business
name will appear on the customer's credit card statement.
This reduces the risk of a customer not remembering
the purchase. Second, a team of chargeback analysts
review chargeback notifications and dispute a proposed
chargeback where evidence exists.
As a merchant, you can help by ensuring that the name
you register for the service is the name under which
your business operates. You can also help by having
your customers sign a sales receipt if they provide
their credit card to you in person. Finally, if you
are shipping goods, be sure to use a shipper that provides
confirmation of delivery. A signed sales receipt or
a confirmation of delivery will assist our chargeback
analysts in disputing proposed chargebacks.

How do online payments get into my bank account?
By providing your bank account number, you permit funds
owing from your merchant account to be automatically
deposited, by Wire, into the bank account that you specify.

Can I use a PO Box or Free phone, local rate number
etc?
Due to security, money laundering and privacy issues
you must supply a land address and phone number when
completing the documents. You may however, use
a PO Box and a free phone or local charge number such
0845, 0800 and 0870 number etc. on your website

My domain name is not registered in our company name.
Is this a problem?
Your web address (domain name) must be registered in
your company name. The reason for this is that if a
shopper searches your domain name, they can see who
exactly owns the website they have spent money with.
Basically everything needs to tally up for shopper confidence.
This also helps stop fraudsters opening and closing
businesses every couple of days.

Can I use my merchant account with other websites?
You may use your merchant account with other websites
as long as they are selling similar products or services.
Please note though that due to the potential high risk
of chargebacks the business name that appears on the
credit card or bank statement must match your website.
For example if you have set-up an account using the
business name 'DVD's R US' but are also selling picture
frames on another website, and you wish to sue the same
account, this would cause problems. For this reason
you would need to set-up a second account
If you would also wish to have monies paid into seperate
accounts, depending on which website someone has paid
you, you will need to have different merchant accounts.
We are unable to split monies from one merchant account
into different banks accounts

Can I put monies owed to me into different bank accounts?
If you wish to have monies paid into seperate accounts,
depending on which website someone has paid you, you
will need to have different merchant accounts. We are
unable to split monies from one merchant account into
different banks accounts

Can I be a sole trader or an individual?
Unfortunately with the Premier Account we are unable
to provide merchant accounts for sole traders or individuals.

What
appears on a customers credit card statement?
The descriptor that you provide when you apply will
appear on card statements

Can my business bank account be in a different country
to my business?
Yes. However due to money laundering regulations your
business bank account must be in the same name as your
registered business
What
requirements must my website comply with?
If you are selling online you must comply with certain
website requirements. Once the website is compliant
along with all the remaining documents the application
will be passed to the bank for approval. For more information
on what requirements are needed please
click here.
The above requirements do not apply to MOTO (virtual
terminal / VPOS) only merchants (unless a website is
used in conjunction).

What
Credit & Debit cards can I accept?
With the Premier Account you can accept many different
types of cards. However there are certain condtions.
Please click here to
view cards available

What application documents and ID do I need
to supply once I apply?
Due to money laundering regulations 1993 we are required
to see different Proof of Identity and address in order
to process your application. Once you apply you will
receive an email with a list of supporting documents
to return. These are stated below:
Identification Documents
- Scan copy of valid ID of company's
owners/director(s). Preferably Passport or National
ID
- Voided cheque (or a copy of
a recent Bank Statement)
- Certificate of Incorporation
(and related documents)
- A copy of the Terms &
Conditions as listed on website
- If applicable: 6 months previous
processing (Excel spreadsheets are not accepted, unless
they are accompanied by screen shots from the actual
system)
- If applicable: Copy of Business/Operating
License(s)
Application Documents
- A completed application form
- A completed MOTO (mail order,
telephone order) application
- If the business currently
accepts or recently accepted card payments, you must
supply photocopies of the last 3 months card processing
statements, . The statements must clearly show sales,
refunds, and chargeback’s
For help in completing
the documents please click here

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