VISA/MASTERCARD MERCHANT SALES PROGRAM
ELECTRONIC TICKET CAPTURE (ETC)
ETC offers a more productive and profitable way of processing your daily Visa/MasterCard deposits. It eliminates the need of preparing and depositing your sales through the use of an authorization terminal hooked into your telephone line. The terminal authorizes and verifies each transaction eliminating the need to check warning bulletins. Common math errors are eliminated because the terminal verifies and transmits a daily total of sales to the Bank at the end of each day. Your account is credited sooner than paper deposits. Sales and credit tickets still need to be produced but you retain them instead of the bank.
The use of ETC can also save you money as well as time. Because of the minimal handling by the Bank, we are in most cases able to lower your discount rate as much as 40%. That means more money in your pocket each month! ETC can also raise your profitability by saving you times. It eliminates the need for most voice authorizations, which can take longer and tie up your employees. We have available a printer to use in conjunction with the terminal to print the sales slips automatically as they are authorized.
If you are interested in this program, please let us know and we can make arrangements for the purchase of the needed equipment. The Hypercom T7P terminal is $500.00 plus tax & shipping. You can purchase a terminal/printer stand for $25.00. There is a $ 35.00 fee to reprogram a merchant currently using another processor.
Touch-tone processing is also an alternative for those with a touch- tone phone. There is no equipment to purchase and the deposit is made into your account electronically each evening automatically.
The monthly maintenance fee is $6.00 plus a discount rate which will be applied to the total monthly sales. These are debited from the commercial checking account on a monthly basis. The separate statement of Visa/MasterCard activity is sent which reflect these charges. Correction fees will remain at $3.00 for Returns/Corrections and $15.00 for Charge-backs.
Allow one to two weeks for processing. We will call you and set up an appointment to come to your business and train you concerning procedures, etc.
We also offer commercial customers the opportunity to accept American Express (1-800-874-8848) and Discover (1-800-347-2000) from their customers. There is a one time set-up fee of $15.00 for each that will be charged. There is no set-up fee for Diners Club.
If you have any questions, please feel free to contact the Commercial Services Department at 732-4571. We look forward to helping you expand your business with these services.
SCHEDULE OF CHARGES
Paper Processing
Initial Set-Up Fee: $25.00
Imprinter: $35.00
Processing Fees:
Fixed Discount Rate of 4.10% of the transaction
Transaction Fee of $ .55 per transaction. (sale or return)
Authorization Fee of $0.28 ARU Local & $0.48 ARU WATS (1-800) per transaction.
Monthly Fee: $ 6.00 for one location, $1.50/month for each additional location.
The supplies (sales tickets, etc.) are furnished by the bank at no extra charge. Initial advertising materials (window decals, tents, etc.) are provided at no cost. Additional advertising supplies are available at Bank costs.
Electronic (ETC) Processing
Initial Set-Up Fee: $25.00
ETC Machine: See Equipment Pricing Sheet
Processing Fees:
Fixed Discount Rates:
2.21% for Fully Qualified* ETC transactions
2.75% for Mid-Qualified* ETC transactions
3.97% for Unqualified* ETC transactions
Transaction Fee of $ .25 per transaction (sale or return).
Authorization Fee
| Visa/Master Card |
American Express/Discover |
| POS Local |
$0.09 ea. |
POS Local |
$0 .12 ea. |
| POS WATS (1-800) |
$0.16 ea. |
POS WATS (1-800) |
$0.19 ea. |
Monthly Fee: $ 6.00 for one location, $1.50/month for each additional location.
The supplies (sales tickets, etc.) are furnished by the bank at no extra charge. Initial advertising materials (window decals, tents, etc.) are provided at no cost. Additional advertising supplies are available at Bank costs.
Touchtone Processing
Initial Set-Up Fee: $25.00
No Additional Equipment Necessary
Processing Fees:
Fixed Discount Rate: 2.75% for Touchtone transactions.
Transaction Fee of $ .25 per transaction (sale or return).
Authorization Fee of $ .28 Local & $0.48 WATS (1-800) per transaction
Monthly Fee: $ 6.00 for one location, $1.50/month for each additional location.
The supplies (sales tickets, etc.) are furnished by the bank at no extra charge. Initial advertising materials (window decals, tents, etc.) are provided at no cost. Additional advertising supplies are available at Bank costs.
Internet Processing
For “Real Time” transactions over the Internet, you will need to apply through
“CyberCash/Verisign (this is the only provider that Visa/MC will accept at this time). However, their fees are high, especially for a start-up business or those with low Visa/MC activity
Initial Set Up Fee: $25.00
Internet Activation Fee: $20.00
Processing Fees
Fixed Discount Rate:
2.75% for Mid Qualified* transactions
3.97% for Unqualified* transactions
Transaction Fee of $0.25 per transaction (sale or return)
Authorization Fees
| Visa/MasterCard/Diners Club |
American
Express/Discover |
| POS |
$0.16 ea. |
POS |
$0.19 ea. |
| Voice |
$0.65 ea. |
Voice |
$0.65 ea. |
| Address Verification |
$0.05 ea. |
|
|
Note: Merchants are charged for one POS call each time the terminal dials the host computer, including close batch calls.
Monthly Fee: $6.00
Monthly Internet Fee: $20.00 & a $0.13 per item Gateway fee for
CyberCash/Verisign.
The Non-Standard Software processing fee is $5.00 (pass through from FDR (First Data Response)-Nashville, this fee is only applied if using any software other than Windows).
All Merchants
Correction Fees: $3.00 for Returns and Corrections & $10.00 for Chargebacks
Other Card Type Set-up Fees: American Express $15.00 & Discover $15.00
Help Desk Fee: There is a $5.00 monthly fee for any merchant set up on the after hours help desk.
Reprogramming Fee: There will be a $35.00 reprogramming fee for merchants with exiting POS or ETC terminals.
*ETC Transaction Qualification
(a) Fully Qualified Transactions must meet all requirements of VISA CPS Retail or MasterCard Merit 3 interchange programs, including:
(i) a single, matching authorization code must be obtained by Merchant at the time of the transaction; (ii) the cards magnetic stripe must be read by the terminal (account number cannot be key-entered) at the time of the transaction; and (iii) the transaction must be posted within two (2) days of the transaction date. Corporate/Business Cards meeting these requirements may downgrade to Mid-qualified or Unqualified due to higher interchange fees charged by VISA and MasterCard.
(b) Mid-qualified Transactions must meet all requirements of VISA EIRF or MasterCard Merit 1, Key Entered, Business or Foreign interchange programs including:
(i) a single, matching authorization code must be obtained by Merchant at the time of the transactions: and (ii) the transaction must be posted within two (2) days of the transaction date. Corporate/Business Cards meeting these requirements may downgrade to Unqualified due to higher interchange fees charged by VISA and MasterCard.
(c) Unqualified Transactions fail to meet the requirements set for in (a) or (b).
Note: The average retail merchant can expect approximately 90% of his transactions to be Fully Qualified, 9.5% Mid-qualified, and 0.5% Unqualified.
Effective October 1, 2002
