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Start accepting credit cards online from 2.99% | Shopping cart from £299 + VAT | Taking care of eBusiness
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Our Online Payment Solutions allow you to start take payments on your website in as little as 10 working days. As part of our growing commitment we now provide three types of merchant account

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Premier Account FAQ's

1.

How much does the Premier Account cost?

2.

How do I get paid?

3.

When do I get paid?

4.

Can I use my existing merchant account with this service?

5..

Can I use a Virtual Terminal without a website?

6.

Providing false details and business descriptions

7.

What is a transaction fee?

8.

What is a gateway fee?

9.

What is a rolling reserve?

10.

What is a chargeback?

11.

How can I avoid a chargeback?

12.

How do online payments get into my bank account?

13.

What are the costs for the wire transfer?

14.

Is there a minimum remittence amount?

15.

Can I use a PO Box or Free phone, local rate number etc?

16.

Can I use my merchant account with other websites?

17.

Can I put monies owed to me into different bank accounts?

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

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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

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When do I get paid?

Payment is issued weekly, 5 days in arrears

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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

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Can I use a Virtual Terminal 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

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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

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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 3.99%. In addition, there are no upfront deposits and no minimum monthly volume requirement

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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.

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What is a rolling reserve?

Many banks require a non-interest-bearing deposit equal to 1 or 2 times the average estimated monthly credit card sales by a merchant. This can pose a substantial barrier to accepting credit cards for some merchants. The purpose of this deposit is to cover any purchase refused by a customer and for which the customer's credit card issuer refuses to pay (a chargeback).

To overcome the barrier of a large cash deposit, the Premier Account includes a rolling reserve. This reserve, equal to 5% of each purchase, is held for 6 months after the sale. If a purchase is charged back by the customer's credit card issuer, the amount of the chargeback and any chargeback fees will be deducted from the rolling reserve. After 6 months have passed, any amount remaining in the reserve from the purchase will be paid to the merchant.

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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 £15.00 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.

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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.

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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.

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What are the costs for the wire transfer?

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

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Is there a minimum remittence amount?

Yes, a minimum remittence amount of £200 is applicable

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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

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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

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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

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We can help you accept the following cards - VISA - VISA Delta - MasterCard - Switch - Maestro - Solo - JCB - Visa Electron