Merchant Account Frequently Asked Questions

Yes. If you have a good credit history you can set up a merchant account at your local bank. However, if you do not have a credit history you may have to opt for a service provider that will either help you get an account or provide you with a third party account.

Yes, we accept merchants from all over the world. There are only a few areas of the world in which we do not currently offer payment processing, including certain parts of Africa and the Middle East. Please call one of our merchant account representatives for more information if your business is located in one of these areas.

No, although our systems have an automatic transaction monitoring capability based on past experience with the merchant accounts holder. This information is to protect our merchants as well.

'So-called' free merchant account services tend to make merchants believe that they can boost their sales volume without having to spend hundreds of dollars on merchant account fees. As a merchant you start believing that you don't necessarily need an expensive merchant account when a third party company is willing to provide you with free merchant accounts. Many think that it will spare them the time and expense others face while setting up their online merchant accounts.

Once you have completed integrating your website with our payment gateway, send an e-mail to your account representative including your buisness name and your Merchant ID (MID). We will review your website and activate your account, notifying you by e-mail when complete. Please allow 24 hours for our Activation Department to get back to you.

Some merchant account services transfer accounts immediately to your bank account while others may transfer funds every two weeks or so. This is basically dependent on the type of account you have. It is simple to verify the transfer of funds; you just call your bank or check your account online

We do not limit the number, although they all must be linked in the same industry and be pre-approved before you can start accepting credit card payments from each website.

No, all merchants can sell products or services to any Visa, MasterCard or American Express cardholder in the world. Our merchants have sold to consumers/business' in 143 countries.

There are maximum dollar amounts for a single transaction. This maximum is determined by the merchant acquiring bank and is largely dependent on risk. A majority of US banks restrict or limit the merchant's payment processing capacity. However, Instabill's merchant account providers do NOT impose such restrictions.

Yes. You must be processing at least $2000 USD on a monthly basis

We provide the establishment of an offshore company. An offshore company is a legal entity registered under the laws of a particular country or jurisdiction, conducting its business outside the country or jurisdiction which it is registered. An offshore company is the same as your domestic business entity, only the offshore corporation is not burdened by excessive tax, is faster to incorporate and easier to manage. It is completely legal to have and use. Currently, Instabill can facilitate offshore merchant accounts and offshore companies in Panama, Mauritius, Cyprus, and Malta.

Of course, Instabill places no limits on the quantity of tax free accounts any one merchant may possess.

No. Once the merchant accounts are activated, it's active. You can then add or delete your products at your discretion.

We accept most major currencies. Most Merchant accounts are offered in USD, EURO, GBP.

A merchant account is defined as an account opened via a bank that is a member of any or all of the major credit card networks allowing the online merchants to accept credit cards from purchasers. All business is done electronically.

• Authorization - with seconds we go to the cardholder's bank and request approval for a dollar amount. The bank checks the account requested to make sure the money is available (does conversion of money if required) and if so, sends an approval code back to us! If it is declined for any reason, it also sends us this message as well. We then interpret the reason for decline and give a message to the cardholder. If approved, this then reserves the dollar amount under your merchant number and against the cardholder's line of credit. They "reserve it" but don't actually pay it yet!
  
  
• Settlement - At the end of a day (after midnight), all our banks go in to the Instabill merchants' files on a host computer and capture/settle the file of approved transactions. This settlement does two things; it tells the cardholder's bank to charge the dollar amount to them and puts money under your merchant # with Instabill.
  
  

It allows merchants to accept payments on their site for commercial purposes thus taking their business from a traditional set-up to an online business.

The fees vary. It is dependent on two factors: 1) The acquirer and 2) The model of account you have. Fees and charges might include an application fee, a monthly fee, a monthly settlement fee and a per-transaction fee.

A rolling reserve is kept for six months by the merchant account acquiring bank. It is held back to cover chargeback's or other payment-related disputes to protect the banks exposure to wrongful processing, refunds, or any fines received by Visa or MasterCard for the merchants' processing.

Sometimes, a customer will get charged an additional 10 cents or so as an International Transaction fee. This is a fee IMPOSED BY THE CUSTOMER'S CREDIT OR DEBID CARD ISSUER. Why they do this, we don't know!

No, International Merchants do not need to incorporate or set-up bank accounts in Canada or the US. We will wire your monies to your bank account in which ever country you wish as specified in the Instabill merchant accounts form.