Frequently Asked Questions

Do I need a merchant account to accept credit cards?

Absolutely. Your business must be registered with a member bank or affiliate to permit the movement of funds from credit card transactions. The first of these is your Visa and MasterCard account followed by American Express and Discover if you choose to accept these cards. At E Z Pay, Inc. we will open these additional accounts for you at no extra charge.

Can I use any bank for my business checking account or does it have to be yours?

E Z Pay Inc. will direct your funds to any US Bank you designate. You will be asked to send us a Voided Check on the account you wish your funds deposited. Your Merchant Account at E Z Pay Inc. is transparent to your regular Business d d a account.

How long does it take to open a Merchant Account?

One day usually. If we have the signed documents back by fax before noon we can usually download your system that afternoon.

How much do I pay for a Merchant Account?

E Z Pay, Inc does not charge for merchant accounts. Many processing companies hide these charges as application fees or programming fees. Don't pay these charges. It's just an extra profit to the processor.

Are all processing companies the same?

No. The differences are staggering. Don't be lead to believe that the largest is the best. They will have just as many problems as the smallest and you will find nobody interested in helping you get the problem straight.

How important is pricing for the Merchant Account?

The tendency is to get hung up on the "RATE". This refers to the discount rate charged on Visa and MasterCard transactions and usually this difference from the highest to the lowest bid is nearly nothing to a new business. The real costs are in fees, fines, charge backs and the pricing of equipment sold to support the account. If you are going to get ripped off it's going to be by paying too much for equipment, lousy service or does not tell you about is complete. Usually three years.

What kind of equipment should I get?

The cheapest that will supply you with the requirements. The selection criteria described in our Merchant Account section or in our Catalog will assist you in this selection process. Remember, you can always call our Customer Service for suggestions based upon your business needs.

Should I buy or lease this equipment?

If you are entering into a business that you will devote your full-time effort into leasing is not a bad option. The thing to remember about leases is they cannot be cancelled. If you sign a 48 month lease you must pay the principle, interest and sales tax for the full period.