FAQs

Below is a list of questions that merchants have frequently asked our customer service representatives. If you have additional questions, please call us at .

  • What is a Merchant Account?
    • A merchant account is a bank account established by contractual agreement between a merchant/business and a payment processor/bank for the settlement of credit card and debit card transactions. A merchant account enables a business to get money from their customer’s credit card and debit card transactions into their local checking account.
  • Do I need to setup a new checking account to open a merchant account?
    • No. A business does not have to setup a new separate checking account to establish a merchant account, but instead can use the current checking account that it has with its local bank. If a business operates as either a sole proprietorship or a partnership, a personal checking account can be used as a merchant account. If a business operates as a corporation or an LLC, a business checking account is required.
  • What do I need to open a merchant account?
    • In most cases you will just need to fill out and sign the merchant account application/agreement that we provide you with, and supply us with a copy of a voided check linked to the account where you would like to have your funds deposited.
  • How do I apply?
    • Simply fill out the Contact Form or call us at 1-877-861-8008 to receive a customized rate quote and a merchant account application with our terms and conditions.
  • What if I do not have checks to my checking account? 
    • Instead of faxing us a copy of a voided check, you can have your bank fax us a signed letter on bank letterhead stating your account name with the routing number and account number to your account.
  • What credit cards will I be able to accept? 
    • You will be able to accept Visa®, MasterCard®, American Express®, Discover® and debit cards. We also offer Diner’s Club® and JCB®.
  • Do you offer free Tech support so I can trained on how to use my equipment?
    • Yes. You will have access to our Technical Department 24-hours a day, 7 days a week for any training or help that you may need with your equipment. To reach the BCMS Technical Department, please call 1-877-861-8008.
  • Do you offer free Customer Service if I have questions about my merchant account or merchant statement?
    • Yes. You will have access to our Customer Service Department 24-hours a day, 7 days a week to have any questions that you have answered.
  • How do I receive my money?
    • Your money is deposited directly into the checking account that you have linked to your Merchant account, within 24 – 72 hours.
  • Will I receive a monthly statement?
    • Yes. A statement is mailed out to you each month with detailed information on all deposits into your account, your total sales volume, and charges.
  • If I purchase equipment or supplies, how is it shipped to me?
    • You choose your desired shipping method.
  • Do I need a separate phone line to operate my credit card terminal?
    • No. Terminals have dual phone jacks that offer you the ability to connect your terminal to your existing line.
  • When the terminal/software dials out for approval, am I charged any long distance or communication fees?
    • No. Communication passes through a toll-free line.
  • What is the discount rate?
    • The discount rate is the percentage of each transaction that the processing company charges to handle the transaction for you.
  • What are “card present” or “swiped” transactions?
    • A transaction qualifies as a “card present” or “swiped” transaction when the customer and credit card are present at the point of sale and the card is swiped through a credit card processing system (credit card terminal, POS system or card reader) that obtains the card holder’s information by reading the black magnetic stripe on the back of the card.
  • What are “card not present” or “keyed’ transactions?
    • A transaction qualifies as a “card not present” or “keyed” transaction when the credit card information is keyed into a credit card processing system (credit card terminal, POS system, software program, or payment gateway) usually without the credit card or customer present at the time of the sale. The discount rate for a “card not present” transaction is slightly higher than that of a “card present” transaction because the likelihood of fraud is greater when the card is not present at the time of the sale.
  • Why are there different rates for different accounts?
    • The rates for different types of merchant accounts vary depending on the amount of risk involved in the transaction. The accounts with the lowest rates will always be the ones where the customer is present and the card is swiped in a face-to-face transaction. Non-face-to-face transactions such as Internet transactions and transactions where orders are taken by phone or mail are generally considered higher risk and are charged a slightly higher discount rate.
  • What type of software will I need if own an Internet business?
    • In order to accept credit cards over the Internet, you need a payment gateway to process your transactions. A payment gateway essentially acts as an online credit card machine. We recommend using the Authorize.Net Payment Gateway, today’s e-commerce tool of choice for accepting payments over the Internet. Their software is the most cost effective, user friendly, and can handle businesses of any size.
  • What type of equipment or software should I use for a Mail Order/Phone order merchant account?
    • With a mail/phone order merchant account, you can use either a credit card terminal, or the Authorize.Net payment gateway. Call us at 1-877-861-8008 so that we can assist you in customizing a solution that’s right for your business type.