Frequently Asked Questions

• Merchant Interchange Questions and Answers

  • What is Interchange?
  • How are Interchange rates and fees set?
  • What is Fed Regulated Debit Interchange?
  • Do MasterCard and Visa publish their Interchange rates?
  • What are Dues, Assessments & Access fees?
  • Why do I want an Interchange and Assessment pass-through pricing schedule for my merchant account?
  • Are all Interchange and Assessment pass-through pricing plans the same?

• Merchant Rates Quote Questions and Answers

  • Do you have a sample rate quote proposal?
  • What are the best merchant rates possible?
  • What other fees are involved besides what is shown on the Merchant Rates quote?
  • I was quoted a flat rate of 1.x%...why are your rates higher?
  • What are the merchant account rates when issuing cardholder credits?
  • Where do I find payment solution pricing on the Merchant Rate quote?
  • Does Vantage offer American Express merchant services?
  • How can I qualify for the lowest corporate card merchant rates?
  • What does it cost to accept PIN debit transactions?
  • What is the term of the Vantage merchant agreement?
  • Are there any Exit fees to terminate?
  • I’m currently in a contract, should I wait before making a switch?
  • Would your company be willing to pay our current contract cancellation fee?
  • How often do your rates increase?
  • Where can I find reviews and testimonials on Vantage Card Services?
  • How quickly can I be up and running?

• Payment Technology Questions and Answers

  • Why are some models of credit card terminals selling so cheap online?
  • I use an integrated POS system to process my card payments…can Vantage support it?
  • Does Vantage give me a free credit card terminal?
  • Where do I find terminal recommendations and pricing?
  • Can you reprogram my existing PIN Pad?
  • What is the difference between a virtual terminal and a payment gateway?
  • For wireless card processing, what other service fees can I expect?

• General Merchant Account Questions and Answers

  • How can I tell if I am paying too much for merchant services?
  • How can I avoid accepting non-qualified card payments?
  • How can I avoid 'Standard' Interchange downgrades?
  • How do I calculate my effective rate (my Real Rate)?
  • What can I do to get the best rate on merchant services?
  • What is the difference between signature debit and PIN debit?
  • What is an ISO/MSP?
  • How soon are funds transferred to my bank account?
  • Who can waive my merchant account termination fee?

• Card Payment Rules Questions and Answers

  • What are the Visa and MasterCard regulations?
  • What is PCI?
  • Is a minimum sale amount allowed on a card payment?
  • Can I add a surcharge fee when my customers pay by credit card?
  • Can I opt out of accepting credit card transactions and only accept debit cards?
  • When is "no signature required" from my customers?
  • What are the rules for truncating or masking the numbers on my credit card receipts?
  • What is AVS and CVV?