Frequently Asked Questions What are your rates? Our Authorized Partner, North American Bancard will either match your existing rates, taken right from your own current statements, or they will give you their standard new account pricing; whichever is lower. How is my 25% rebate commission calculated? You will be paid 25% of the monthly commission MatchRate PLUS receives from our Authorized Partner, North American Bancard from your account. How much will I receive from my rebate? All accounts are priced somewhat differently, so the commission that MatchRate PLUS receives from North American Bancard varies from merchant to merchant and even from month to month. However, the average MatchRate PLUS merchant receives $200 per year for every $10,000 processed in monthly credit card volume (e.g. If you process $30,000 per month in Visa/MasterCard volume, you can expect to receive $600 back per year). Will I receive a rebate equal to 25% of my total merchant account bill? No. Most of the fees that you pay to your credit card processor each month go to Visa, MasterCard and the card issuing banks (the banks who issued the credit cards to your customers who paid you with them). A small percentage of the fees you pay are kept by your processor who then pays their agents a commission. MatchRate PLUS receives a commission from our partner processor North American Bancard and pays you 25% of the commission we receive (e.g. agent's commission). When do I receive my rebate? You will receive your 25% monthly commission rebate on or about the 20th of each month via ACH deposit. How do I receive my rebate? Once your merchant account is approved, MatchRate PLUS makes the process of receiving your monthly rebate easy with 2 simple steps. Step 1: Submit an email request to receive your MatchRate PLUS account username and password. Step 2: Login to the MatchRate PLUS merchant partner back office and complete the short ACH deposit form. That's it! The process takes just minutes and only needs to be completed one time. Your MatchRate PLUS monthly rebates are posted monthly in the agent back office and deposited into your bank account (via ACH) on approximately the 20th of each month. Will MatchRate PLUS be my credit card processor? No, our Authorized Partner, North American Bancard will be your actual merchant account processor. Will I have 24 hour support for my merchant account? North American Bancard, who will be your processor, provides world class 24/7/365 customer and technical support with their team of 400 agents at their home office in Troy, MI. How long will it take for money to be deposited into my account when I batch out my terminal? North American Bancard provides standard 48 hour funding of all batches but can provide 24 hour deposits for certain merchants who qualify. Can I keep and use my own equipment? Yes. If I need new equipment, do you provide it? Yes! North American Bancard can provide whatever type of equipment you need; usually for free! When I switch to MatchRate PLUS will I continue to process credit cards the same way as I do now? Yes. The only difference will be that you will receive your monthly billing statement from North American Bancard instead of your current processor and you will receive a monthly rebate from MatchRate PLUS. How do I know if my current equipment will work with MatchRate PLUS? When you speak with a MatchRate PLUS account executive they will discuss your equipment with you in detail. How do we cancel our service with our current provider? Once you have reprogrammed your current equipment with a North American Bancard installation technician, or plugged in your free equipment that was provided to you, call your current provider and tell them that you want to cancel your service. How do we know we are always getting the lowest rate? Rates change frequently. If you ever receive a lower rate offer from a competitive company, you will fax that rate offer to our partner North American Bancard (NAB). NAB will validate the offer and then change your rates to the new lower rates the same month. You will continue to receive your 25% commission rebate from MatchRate PLUS. Will I have to pay a cancellation fee with my current provider when I switch to MatchRate PLUS? We do not know. Call your current processor and ask them if you have a cancellation fee. If you do, MatchRate PLUS will reimburse you up to $295 of your cancellation fee.
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