1. What is a merchant account?
A merchant account is the ability for a business of any kind to accept credit cards and debit cards for payment. It is sometimes referred to as credit card processing or merchant services. A merchant account or a business account is issued by BancorpSouth Bank Bank for the processing. The purpose of this account is to receive and disburse funds from credit card transactions.

2. How long does it take to get set up?
Approval only takes a day or two depending on the level of difficulty for your particular account. The set up can happen as early as a week, that includes getting the account approved and terminal downloaded or installed.

3. How can I get the lowest discount rate?
In order for a merchant to qualify for the lowest processing fee for a particular transaction, the card’s magnetic stripe must be read by the terminal (i.e. cardholder is present) and sales must be deposited and settled daily. The processing rate will be higher for a transaction manually keyed or not deposited and settled through the terminal until the next day.

4. How do I get started?
It’s easy to get your merchant account started. You may contact us by calling us at 877.99.SWIPE.

5. How much are your set up fees?
We do not charge a setup for for your merchant account. If need be, you may need to purchase a credit card terminal to run transactions.

6. Are my funds guaranteed?
Any customer has the right to dispute a credit card charge from the card’s issuing bank. If a charge is challenged, a retrieval request will be sent to the merchant asking for proof that a sale had been made by the customer. In addition, the merchant’s credit card processor has the right to discontinue service for many reasons. And finally, a merchant should take due diligence to protect against someone trying to order merchandise with stolen cards by becoming familiar with the process.

7. How quickly do I get paid for the credit card sales?
AMG realizes the importance of having working capital for any business to succeed, and our processing systems get those funds to you as quickly as possible. Once a transaction is processed, approved and closed the turn around is typically 24-48 hours or two banking days for VISA or Mastercard transactions. American Express® and Discover® card transactions may take 3-4 business days.

8. Should I rent or purchase equipment?
It is always best to own you processing equipment, free from any commitment to a company or individual, but some merchants may not be in that situation. Depending upon the necessary equipment, it can get costly, so paying a monthly payment may be a better option. To find out which solution best suites you, contact our sales department by calling 877.99.SWIPE or email us at sales@advancedmerchantgroup.com.

9. Who can I contact for support?
AMG offers support Monday through Friday, 9am to 5pm EST. After that you will be able to contact your processor. Once your merchant account is setup, we will give you all contact phone numbers and vital information for your credit card processing.