Overall FAQ

Do you know what the average retention fees the merchant bank will want to hold?
There isnt a for sure hold. Sometimes they will do a rolling 10% to 15% rolling reserve but as you can see even with that you'll never be out of pocket ...
Tue, Jul 2, 2024 at 3:47 PM
How are the chargebacks dealt with? Are we liable for the whole purchase amount even if we only get roughly 10% of the purchase price.
As far as chargebacks it's very important that you sign up for one of the fraud protection applications that will be available through each merchant pro...
Tue, Jul 2, 2024 at 3:47 PM
Can I use PayPal, Stripe, or Square for my payment processing?
No, since we’re selling vitamins/nutraceuticals, we are required to utilize a high-risk merchant account. Several options are provided in the members’ area....
Tue, Jul 2, 2024 at 6:16 PM
Why do I need a business bank account in addition to the merchant accounts?
Think of it as a cash register (the merchant account) where money is put when you make a sale and your wallet (your business bank account) is where the merc...
Tue, Jul 2, 2024 at 6:26 PM
What are the core steps needed to get this started?
Get an LLC  Get an EIN Get a Business bank account Get your E-commerce website  Get two merchant accounts
Tue, Jul 2, 2024 at 6:28 PM