Merchant Account Transaction Terms

There are common transaction procedures related to a merchant account one should always be aware of. Batching out is the process where the merchant and cardholder’s banks exchange transaction data, resulting in the depositing of funds into your specified bank account.

There are two methods of batching: auto batching and manual batching. Most Transaction Management terminals are set to Auto Batch for your convenience. Auto batching will take place at 10:30 pm each night and will contain a batch report for that day. Second is manual batching; you can batch any time throughout the day manually with a touch of one key. If you do not batch manually, your terminal will be set to Auto Batch, but in the event the terminal does not batch, the display on your terminal will read “Need To Batch”, and you can manually batch.

You can verify funds on a customer’s credit card. Those funds will be reserved for you until, at a later date, you deposit those held funds into your account. You should find out if you can put your account in test mode. Internet payment, gateway and terminals can easily be put into test mode. It’s a great way to practice the use of your terminal or test the web sites payment gateway configuration before you launch your site.

Be aware of the fact that depending on your specific business you will receive a terminal, supplies to get you started, and stickers for advertisement, support