FREQUENTLY ASKED QUESTIONS

1. What is your credit card processing rate?

The rates that you pay depend on the cards you take and how you take them. We need to identify several things. Here’s a few examples:  

  • Does the individual's credit card have a reward program attached to it?

  • Card present & card not present

  • Average ticket

 

2. What is interchange?

Interchange is the true cost of the credit card that the card brands and issuing banks charge in order to accept credit cards. This is the level playing field for all banks & processors. It gets passed on to you, the customer, with a markup.

Visa Interchange Rates

Mastercard Interchange Rates

 

3. Why do you need my statement if I’m telling you what card types I accept and how I process them?

There are many moving parts to properly quoting a merchant (see question 1). If you speak to a merchant company and they quote you a processing price without knowing the details of how you process or your business, RUN... or just hang up the phone. 

Think about needing a mechanic for your car repairs. A mechanic couldn’t shoot you a quote over the phone without looking under the hood or running diagnostics. Same in merchant services. There are over 2000 interchange rates. Allow us to set the right expectation from the beginning with a deep dive into your last 3 months processing statements.

4. What is PCI Compliance and why am I paying for this? I did not pay PCI before.

PCI stands for: Payment Card Industry. This is the security standards for accepting credit card point of sales. For example: the new chip terminals. A new standard was set on how a cardholder’s information is captured.  This also includes requiring secure technology to key in card information for online sales. We offer the most secure processing options held in the highest industry standards.

Let's be frank:  if they said they gave you free PCI, they recouped it charging you more somewhere else. No one gets out of paying PCI compliance fees.

PCI Compliance options:

  • You provide us with a PCI Certificate (within first 90 days). We validate and stands until exp. date.

  • We provide PCI compliance and assistance.

  • If you are non-compliant, the bank will charge you a non-compliant fee.

  • Inquire with your BBS expert. 

When you go with us, we help you through the whole process and will ensure you get a passing grade.

*PCI requires you take a test once a year.

 

5. Do I have to sign a contract?

All merchants must fill out a merchant agreement, we negotiate terms.

BBS will not stick you to a contract & we don’t want one to interfere with a sure fire better solution. If it feels like you are stuck in one now, call us at (818) 292 8528 or email at solutions@bespokebancard.com. We offer a 1 year buy out agreement when it makes sense to help you get into better hands faster.

 

 

6. I got a solicitation call and they told me I would pay 1%. Why can’t you offer me 1%?

Because of the good ol’ saying:  "If it’s too good to be true, it most likely is." Anytime you get a call and a sales agent offers something like 1%, you are being misled. What they don’t tell you is that it's 1% over interchange, which means you will pay between 2.5%-4%.

7. Why do you need my Social Security number?

Your Social Security number is required by the Patriot Act.

Patriot Act of 2001

Look, there is a responsibility on all ends when you’re dealing with people’s sensitive information like credit cards. The banks want to know who they are dealing with.

8. What kind of protection do I have with you?

We offer a rate guarantee. If you get solicited at a lower rate than what we have provided you, show us that rate quote. We will validate if this is a too good to be true offer. We are very competitive on cost. We will never let cost get in the way of earning your business. PERIOD.

If it is indeed valid… we may want to recruit that sales rep over to BBS LOL

9. What does TFM mean?

TMF stands for Terminated Merchant File. This is the industry blacklist. When business owners owe other processes or committed fraud, you are added to this list. Expect to pay high rates or get denied processing completely.

10. Recruit? Are you guys hiring?

Great question, thank you for asking! The BBS experience is founded by one of the top salesmen in the Merchant Services Industry. He knows the hard work and swag needed to close the sale from every angle of the industry. Let him show you how to be on the path to a six-figure income generated by your new Agent Consulting Partnership.

6400 Laurel Canyon Blvd

North Hollywood, CA 91606

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OFFICE

(818) 200-1004

HELP DESK

(888) 339 8808

Bespoke Bancard Solutions is part of Green Payment solutions; which is a registered ISO of Wells Fargo, N.A. Concord, CA.

© 2019 Bespoke Bancard Solutions